Input Output (IOHK) Project Catalyst, 25 Nov 2020

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From YouTube: Project Catalyst Fund2: Weekly town hall and Q&A #11 - November 2020

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Project Catalyst Discord channel: https://discord.gg/aKcVQgM
Project Catalyst Telegram announcements channel: https://t.me/cardanocatalyst

A

All right so yeah as usual, my favorite time of the week and.

A

Let's get going so welcome to the experiment, um as you might have learned by now, things can break documentation can be lacking. There's gonna be a lot of difference between the iterations there's, some some disorientation overloading inspiring, maybe a bit of boredom, is a good weight.

A

um But yes good things take time, and- and we are here for you to provide you a safe environment, so you can explore the highest potential of human collaboration.

A

So, let's talk about the timeline, um it's we're still we're still working on it working and it's very hard and our team is gonna- take this weekend next week and also work overtime hours and we got all of that extra budget approved. So we can make it on time. We also got an update that there'll be at least some some people who can even even do some work into the.

A

um Into the holidays- and you know just just an amazing response from our team to to me the challenge- and I would still say because because I cannot assure anything I can say we're still 50 50 on whether we will have the voting before the holidays, meaning the christmas holidays.

A

I can update you that we completed the pre-dry run and I I myself get got to use the the dead loose catalyst wallet to to register and it was pretty nice. There were some some issues, some ux issues that we're working on there's some other blocking issues that we're working on and there's still much work to do and we're.

A

Basically, you know every day for now, right now is like climbing, climbing the mountain making sure all the parts are functioning all together and and if everything goes well, then, then, monday next week we're going to start a general reversal. So we're going to have 20 testers and using real ada kind of like doing the final final tests.

A

Hopefully everything will be okay and we can release uh in the in the same dates and december 9th as we as we said before. It was open the registration, but you know I cannot. I will not know until we know so I will just keep you posted how things are progressing as we go along.

A

And I think a big question for a lot of people is as we wait. It's like. What are we?

A

What are we to do now when we wait and- and I have a proposal for you- a focus point- and I want to talk about the funds for community challenge and let's explain the context, okay, so in fund what happened so far in fund two and fantu had one challenge: um the ecosystem, challenge about bringing developers and entrepreneurs uh on board them to the ecosystem, and that was the proposals that were proposed right.

A

So there was a bucket of a quarter million dollars worth of ada to to fund this uh solutions to this specific challenge in fund three: uh it's not just gonna, be one challenge: they're gonna be three challenges: okay, there's gonna, be a dap challenge.

A

It's going to be a dev onboarding challenge and there's gonna, be a dev, tooling challenge. Okay, so three separate challenges: each one has their own separate metrics each one in success. Each one has different requirements: each one addressing specific functionality, a specific strategic goal, it's important for a the cardano community and our in our success in 2021, especially when gogen is launching and what we're also doing in fan survey. On top of these three challenges, we're also adding, um let's say, a challenge to define a challenge.

A

So basically, instead of a the catalyst team coming up to the community and saying like hey, this is the this is a challenge. This should be a focus point. This is an opportunity for you to determine the the focal point to determine a challenge.

A

So what does it mean? It means in so in funds3, we're going to the community will be invited to propose challenges and- and and these these proposals are going to be up for votes and then, whichever whichever proposals for a community challenge are going to be selected, will be a challenge in fund for okay. So um the budget for the community challenge slas and it could be many challenges- is a quarter million dollars worth of ada.

A

It's gonna go so so, for example, so in fund, for you know the well, we don't know the amount yet, but uh at least it will be at least quarter million dollars worth of ada for from bottom up community challenges, and there will be some additional challenges in fund for and in fact, three. Those proposals for challenge are going to go through the same innovation process as regular proposals. So we will have a chance for the community to explore these challenges and give their their comments and share their perspective.

A

They will be submitted as a draft communicant community would be able to give their feedback. uh There will be assessors that that will come and weigh in about uh what do you think about the quality of the proposal for a new challenge? You know it will be up for a vote, etc, etc.

A

Okay, so so these uh there's gonna be it's it's. It's gonna be in fund three, a new challenge category, which is the community challenge to propose challenges in fund four. Whatever challenges are gonna be selected are going to appear in id scale as their own category, and this is going to be treated as any other challenge and also in the voting app in catalyst voting.

A

um There will be additional functionalities where you can kind of browse through the different challenge types and, and you know, and and the proposals there are by basically locally competing for that specific bucket and and throughout this presentation.

A

I'll give you a few more examples of how that looks like, and I'm also at the end, we're gonna have time for you to ask questions and clarify uh also later on, we're gonna publish uh a guideline about how to do it, but I'm presenting it now, because I think that you know, while we wait for voting to begin, we might as well be productive and start to work on this.

A

uh I think it's you know. I think it's it's like an amazing experiment to do and an important one because end of the line, we want all challenges to be community challenges, so we're learning together with you what's the best process and and we're just doing a first test. So remember, this is just an experiment: we're gonna look at the end of it and we're gonna. Look at the return of of intention.

A

The challenge like like the those challenges that were made by the community, we're going to look about what kind of impact they are they're bringing to the ecosystem and we'll identify those that were successful and why and those that maybe were successful and why and improve- and it would be done through both both objective measurements of metrics, but also your own feedback about how to improve the process, how to improve um community driven challenges in the future. It's going to be really interesting and.

A

So you know beyond the process you know just doing it is extreme extremely exciting. So just I don't know for me like um it almost hurts my head now to think about it, because I'm so wrapped up right now in the delivery of fun too. I can't I can't, but I really want to think about it, because it's so there's so many things that can be done. Okay, so I think I think the first thing on my mind was that there's a whole community roadmap, so starting fund four it can have teeth.

A

We can start to implement it, so that could be a challenge to implement the the roadmap uh it could. We could take different themes from the community roadmap, like partnership exchange, integration, use cases, women involvement, there's many categories there actually rick. If you have, if you can share with the group a link to the community roadmap just for them to check out, maybe some people are not informed about it.

A

You can see how much there's already so much amazing work done, and so that could be like a really great idea to go for it and another type of another type of options is we could do fund additional catalyst mechanisms, so maybe the community want to have community control over uh additional collaboration software. Maybe maybe we want to buy a trello account for all community advisors.

A

I don't know, maybe maybe we want um to hire facilitators or consultants, anything that can help us with the entire catalyst process, getting more impact, collaborating better communicating better making sure we have better outcomes.

A

um You know dedicated people to address issues coming up from the community like in additional to the catalyst team, so you know that's like an option. It's like obviously interesting for me. Maybe that's for you, but um you know that's my personal passion. Then you can have a tooling for spos. You know. Maybe that is. This is something that the community wants: more toolings, more upgrades, more ways to for first spos and um and the delegators to to work together and and be more effective.

A

There's also recently, last week, charles raised up the idea of of local communities, so a chance we can have a completely localized challenge. For example, we can have an entire challenge, just in japanese written in japanese, that the japanese community can interact with in their own native language, work to market and drive adoption in in in their own market and be completely empowered. It's like completely that's very exciting, of course, not just japan, any other country, I'm just giving examples here.

A

Right, brazil, nigeria, um so many options for us to to to to try to take different directions. Okay and another potential direction, is you know going for the mission going for the cardinal mission, like banking, the unbanked.

A

You know just have a challenge about that like what what are the most effective things we can do to get started to implement this vision by the community and of course you know, this is just just some things I thought about in like 10 minutes and- and I think you have way more ideas- and I just wanted to get the conversation going in and inspire you and and just to let you know how many options you actually have and and and these the decisions that are coming up for you to decide which one are we focusing on so another another issue here is the question of one challenge or many challenges.

A

So one option is you can have one mega challenge, quarter million dollars worth of ada to focus on one thing, you can also decide hey we're going to create 10 different small buckets. You know we're going to try out we're going to experiment, we're going to try 10 things and throw them out there see which gets picked up, which gets the best roi you know, and then maybe the things that succeed next funding ground can get more.

A

uh You know their budget would increase, you know fail. Challenges will be stopped or or reduced in funding, and we can all do this together, of course, and again, don't take this example literally, you know it could be. It could be three challenges, two of 100k and 150k.

A

It's all a question internally for you, the community, to decide how do you want to? Where do you want to focus on? How do you want to experiment? What do you think will will lead you to learn to learn the most, because there's very good arguments for either side, and I love if we can start this conversation.

A

So beyond that, I just wanted to give you a few tips about how do we format a challenge proposal all right so and it's just the way that it will be formatted in in through this scale through the voting app. So the the challenge would have a title so, for example, the current challenge.

A

Well, it's called fan 2 challenge, but let's call it the ecosystem challenge. So a short, a short catchy title that that serves the purpose, there's a question: how can we encourage developers and entrepreneurs to build gaps in businesses on top of cardano in the next six months?

A

So um whatever you propose is a challenge. Needs needs to have this this question and it's actually really important, because the question is what drives engagement and what drives the solutions. The problem statement- okay, another field will be. Why is the challenge important so for fun to challenge? We said this mission is critical, because it's the contributions from developers and entrepreneurs. It will determine the value of cardano okay, so we found a direct correlation between um adoption, the adoption with developers and entrepreneurs to token value okay.

A

So this is why we think it's important and- and I think that every challenger everyone proposing a challenge should think really hard how in a few sentences he can he can frame. Why why this challenge is important? Why this should this challenge should be funded and not another challenge then another one is: how do we measure success? What's the metric, so this is actually two things: it's how the success look like and then okay, but how can we objectively measure quantify success? How can we?

A

How can we discern if, at the end of the at the end of the challenge, if we fulfilled, we solved the problem or how well we solve the problem?

A

This is really critical, because if we don't have metrics, then we just have opinions and our learning gets hurt and our evolution gets hurt so again to a here in phantom challenge. We set up some pretty objective measurements: okay, so that you can count how many developers it's we attract, how many entrepreneurs, how many of you that's developed, how many new businesses, okay! This is something you can count on your fingers. It's not like it's! Not! It's not too vague, and we also a provided explanation.

A

How are we going to measure each one of these criteria, and so you can just refer to previous down halls, and I can also elaborate more and if it's interesting for you and lastly, how much how much of the total budget for the community challenge you want. So for this, the ecosystem challenge, we work a quarter million worth of ada. It can also be a tenth of it or half of that.

A

You know you can also, um let's say collaborate. You know you can have like, for example, the community can reach a consensus that there's actually three challenges. You want to drive and they have an equal share. So so those challenge proposals can be coordinated to feed this budget in an optimal way. Okay, where we're not living in a bubble, we're all talking and communicating and and can, can negotiate to reach the best outcome.

A

Let's go in even even deeper about that um so innovation problem. So there's like an innovation problem statement. Okay, the question that we asked can actually become a it's a formula, okay and and like all this, all this um all this information, I'm giving you these formats and criteria.

A

This is not something I invented you know yesterday afternoon. These are our best practices that we've that we learned from id scale, basically from consultants from id scale that worked for about 10 years on on hundreds of crowdsourced projects and like paints thinking painstakingly and over time they developed these best practices.

A

So you know, of course we can try to reinvent the will, but I think we can get much more momentum and and outcomes if we if we learn how to listen and adapt existing best practices and kind of run from them. You know, and then after this first round of course, we can change course as we learn, but let's start from some kind of like a golden standard, uh something that's been tested and tried for many times so so the formula is: how can we help and then the target population like who are we?

A

Who are we actually targeting here? um What is what is this uh target population trying to do and then what's the constraints or qualifiers? Okay, so here the free example is like: how can we help staff commute to the university on a daily basis? Okay, so- and here we, if you go to the challenge that on fund two, it says: how can we encourage developers at the target and entrepreneurs to build ups and businesses? That's the action on top of cardano in the next six months. That's the constraint!

A

Okay. So uh this formula is really useful for very good focused, targeted challenges that can actually be be addressed by crowds of thousands of people.

A

And then you get down into the details? Okay, so so, who is this target population? Where are we solving the problem? You know get let's get as specific as possible, and also what are the needs of this community? What are they trying to accomplish?

A

This is very much kind of like product 101 and trust me follow if you follow these best practices, you're going to get good great outcomes- and I think another thing to look at is the state of the art.

A

So you need to look at okay, so you have a challenge and you need to look at make at least an initial inventory of what what existing solutions what's already out there in the market to solve these these problems, what are already addressing these challenges and what are the pros and cons of this and from this work of an analysis you can? You can learn a lot about how to frame the problem in a way that can differentiate us and compared to competing blockchains, for example, or just competing solutions outside of the blockchain.

A

Another fear another thing to think about is again what how does what does success look like when this problem is solved? So what's what's the vision- and I think here having a drawing or a narrative, is it can really be useful and can really help your audience like help, voters understand where you're getting at and and drive better results and again like defining the metrics of success.

A

So you know the the catalyst team will do the job. Will it will track the metrics for you? You don't need to worry about that too much. You just need to.

A

um You know, make sure it's it's reasonable to track this track these things and if it's, if it's reasonable, we will help you not only track but report back to the community and, I hope, almost on a weekly or bi-weekly basis. You know we're going to see what's our capacity next year, but uh it's definitely part of our road map to uh to include this capacity, because it's so important.

A

um And again- and it's important to remember it's an iterative process, you know you're, starting with a draft. You talk to other people, you learn more you're like okay. You learn, okay, that actually like this. This existing solution. That's really great! You know. Maybe our approach is not best, maybe maybe the target audience definition was fuzzy and now we can clarify it and it's a narrative iterative process.

A

It starts today when, when you're starting to work on it, and then it will go through fund three uh when that will launch and that will launch after the holidays and will go through its own innovation process and but you can get started and really sharpen up the this statement.

A

And okay, so this is like another example of um different problem. Statements actually think I kind of like feeling like a bit repeating myself, but um you know we'll we'll share this side with the community. If you want just a bit more concrete examples of of how this format works in different contexts,.

A

And lastly, I'm going to give you some general tips, so first of all really think about the impact of solving the problem. So so a lot of this is about prioritization, like which problem would have the most impact if we solve it and how do we quantify this feedback? So really think carefully about that.

A

Then there are certain types of challenges that get more engagements from crowds and and and certain and and some of them are a bit more juicy than others. So, for example, asking yourself is the problem hard enough. Okay, like like, we don't want to end up with a challenge. That's like you know, design a better shoe, okay, because that doesn't really that doesn't really drive the full potential of what we can do here. Okay, so we're not like a traditional crowd sourcing.

A

We can solve hard, complicated problems together, we have we have the capacity and so a good challenge. A good challenge, for example, is something that had many failed attempts at before solving it.

A

A good challenge is something that the broad community cardano community has something to say about so like that. Ever that you know that is like automatically engaging it's not just like 10 experts that are engaging with it, but something that has a bit more of a broader appeal, and it's it's interesting to look at you know to identify juicy problems is like you know. The people who hold multiple perspectives are there. Parallel solutions are different ways and perspective exist together.

A

You know that's an amazing opportunity for us as a challenge, because the the strength of us okay, what what makes um the catalyst funds uh unique, okay, better than a normal organization, more effective than a normal organization, that normal organizations have a heart very hard time to try and prototype different approaches at the time. At the same time they can only pivot. uh You know even a really good startup can only pivot, like maybe three four times a year, and that's like a breakneck pace for for a startup here in this community.

A

We can try hundreds of prototypes, we can get like you know: 10 20, 30 proposals, every six weeks lunch and try different things and then pick up the things that work and amplify them, and so these these juicy problems that can that that, actually, you know you can try one approach and then a a a completely contradictory approach and try them both together and see what you know objectively, which one succeeds, um is exactly the type of problems that regular organizations are shy away from that they can't handle, but we can handle and we can solve them and we can bring a lot of value like that.

A

And, lastly, you know: is there a clear success criteria? Okay, like, of course like saving the planet, is an amazing. You know it's it's like an amazing problem and you know, and every everybody can relate and ev everybody on earth can relate to wanting to wanting to serve the planet, but there's not exactly clear success criteria for that.

A

So you know and lack of clear success criteria. They tell a sign that what you're doing is too vague um that and that it won't and plot it won't lead to concrete outcomes and, lastly, another tip again: it's not not mandatory, just a tip from what we know about crowdsourcing challenges mid-term is better than long-term okay, so of course, we can set something like that can be resolved in in many years.

A

But how do we know we're doing? Well, you know how can we learn and improve over time if it's such a long term thing better, at least especially now, when we're just starting to experiment and prototype and and just evolve, our our our shared capacity and our processes much better to do mid-term, short-term challenges that are constrained in time, so we can, we can make a stop and we can we can.

A

We can measure how well we're doing and iterating pivots, and so this is a strong recommendation for me, and not just for me from you know, from experienced practitioners in this in this field, and so just like the last thing about the format. So, okay, how can we so the question? The key question is like: how can we help this population achieve this specific action? Do the thing they need? They want.

A

What are the constraints? What are the qualifiers for? It.

A

So, let's say: okay, so let's talk about the guideline eric. I hope you, I hope, you're listening to this, and we can just subscribe it into something written later, that that can be a guideline also, and so how do we go? What do we? How do we go forward from here so use your communication channels to coordinate? I hope that anna is now sharing a links to our communication channels. I think seems logical to me to um to use our the discord channel, maybe set up some specific channels there.

A

You know to to focus the conversation and others like the community. Runner team has a discord. um You know up to you where, where you want to have the communication and coordination, these are two. These are two recommended channels to do it from um it's probably kind of like an in-depth discussion, maybe less appropriate for the telegram channels that are a bit more ephemeral in nature, and I think that having some folks write, drafts and start to share with the community, even not an id scale just like on this channel.

A

This is a great way to to get started and, to start to start to get some feedback and evolution and coordination with the community.

A

I think there should be some attempt to gauge where there is the most potential setting of priorities.

A

Setting up you know using you can use polls, you can use feedback forms and you can use your intuition and you know I'm looking forward to see what what kind of ways the community finds out to uh to gauge you know there will be a point in this scale with community advisors, where there will be like a really formal process to do that, but I think, even before it can be useful, then there's a question of um measuring of success and objective measures of success.

A

And lastly, you know it's my question to you is as you're going through this process like do you need support to to to make the best decision? So you know, do you need more information for me? Do you need more workshops? You need to bring advisors or experts.

A

Is there some data, there's advice, and you know something we can do as catalysts to to help you in this process. So you know just let us know and then we'll we'll do our best to help.

A

So, honestly, you know what I want us to talk about it. We no. I want to talk a bit about a bit about it today, but also you know, let's, let's have a more focused discussion about this during the next town hall and I invite everybody to direct message, anna on telegram and um and even reserve a spot on this in the on the next town hall. To show your perspective about it and if there's any coordination efforts come going on, you know to to publish them and so everybody's informed and can participate so.

A

So that's about uh that's about what I had to say for today, a bit of a short format. I'm here now to both answer any questions you have and regarding the challenges or timeline or you know, whatever is like important for you and I can be available here for let's say around 10 10 15 minutes and also if anybody wants to come up to the stage you know and react or share a challenge or or is inspired to to.

A

You know, get get a group going or anything like that and just use like the handwave icon in the chat and we will and anna will bring you and to talk.

A

Okay, some all right we're asking fund three to 50k 500k, it's 500k and we're just going to you know the confusion is that, uh while the challenge, the community challenge, is going to be quarter million dollars on fund three well, we're just going to propose it and vote on it and then, if it's voted, then it happens in front four.

A

So in fund four expect a a community, a community fund budget and like the the top-down catalyst challenge, budget, okay and and hopefully over time. You know what will happen. Is that we're just gonna? Look at the impact? Okay, we're just gonna, see the the impact and feedback from the community and and we're going to you know every iteration, every funding round we're going to adjust all these like funding amounts.

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You know according to what you want and what is impactful.

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A

How do we ensure accompanying accompanying funded catalyst teams during implementation phase, since total funding amount was supposedly supposedly increased during time?

A

Referring to the support the team received from iog that I assume being part of sophisticated execution and with the success of outcomes? Okay, I need to reread this question.

A

Okay, so something about accountability of like funded teams.

A

How do we ensure that? um Well, we we're starting with something a bit loose. Okay for for fun, too, um I mean it's loose and not loose, uh but it's it's definitely more more about innovation and driving impact, rather than like, let's say like a harsh reporting and supervision, okay and it so we're gonna work like like an incubator, we're gonna have a cohort, so all funded proposals will be part of the cohorts and we will meet every week as a cohort. We will help each other.

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We will drive together outcomes.

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We will bring experts in everything related to crypto, from tech to tech, to taxes, to law, to project management and we're going to give support to all these teams to really get get the most out of their funding and get the most impact and also not get stuck so teams will be there to help each other and get each other unstuck, and you know- maybe even sometimes we will see that, like let's say, one project is not going that well and like maybe the teammates want to join forces with another project to get drive even better impact.

A

You know this. All these things are are possible, and it's like an incubator, it's really it's a real incubator, and, um and during these meetings there will be a reporting of like our progress. What what? How? How is the metrics from each specific project is advancing and these reports will be sent back to the community, so this this is where the transparency and accountability um will come to the to the front stage.

A

When does this top up funding ground, open mercy so bottom up not up top up? It means that the catalyst team is top of deciding, but bottom up means that it comes from from the community and so fund. Three, in fact, three we're voting, which challenge uh or challenges uh from the community are gonna get high.

A

You know are going to happen in fund four and in fund four people are going to propose um proposed child, propose a and make proposals how to address these challenges and at the end of fund 4, these proposals are going to get funded.

A

I hope that helps clarify.

A

Is this lecture shared somewhere? So I can refer back to it. Let me let me share it right now.

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I'm sharing it here on the chat and.

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Just making sure it's the right slide.

A

Okay, I'm showing it here on the chat, and um I know maybe you want to ch there's like a dedicated place to share it, and we can I love if we can share it us in the youtube and in the announcements and just the people to have access you know, but rick anyway, we will beyond the slides, we're gonna, we're gonna, even add a guideline, a written guideline to to make it even more clear twitter campaign.

A

What's up with the twitter campaign, we're trying to time it with the start of voting. um I think, but I think I think there might be a due date and where it's going to start anna, do you know, can you what's the latest.

A

Hi everyone. um I think it makes more sense to run this campaign as soon as we know, with the more details on the dates.

A

We don't want your ideas to to get lost and forgotten, and it makes sense to to run it closer to the voting period.

A

We don't have a firm date, yet yeah yep we're yeah we're we're driving we're driving towards certainty as hard as we can. I'm really sorry to put everybody in such a such a conundrum, but uh you know we learn we learn and we approve and we're setting up the infrastructure such that in 2021. We're gonna have very strict times and, and the funding cycles happen every six weeks and we're addressing all the root causes that cause this delay. So it won't get repeated again so because we we know that it's important.

A

We know that for you to succeed, we need you know between the world of chaos that is blockchain. We need some a safe space. Okay, we need a place where there's predictability of funding and people know the timelines and entrepreneurs can make plans and we are making sure that this will happen.

A

Yeah yeah chris, I totally agree, I think.

A

I think it yeah. I think I think there was some hurting to the proposals. I think I think we could have taken longer and um I think on the bright side, we learned a lot you know, but because we, because this all happened, you know we're getting we're getting an understanding. How does a six week cycle work? Okay, so we did it in this kind of a six or seven cycle.

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So now we learn well now we know, and and now next time next time, we're approaching this um we're gonna. Do it from a place of of.

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A

Okay, if anybody wants to raise more questions or vote up questions, because I think I'm out of out of out of question that anybody voted on, I see only questions with zero votes.

A

Oh one more thing: I remember that uh steve as steve has asked me to talk a bit about what's gonna happen with funding with with the change in token price. So let's talk about it, okay, so the the underlying logic of what we do is we put the proposal in the center. So when you finalize your proposal and we set up a date where, where we look at the at the added value next to the dollar at the date of the of submitting the final proposals.

A

So, for example, let's say a proposal on that date and made made made made the proposal for a hundred ada. Okay, like a very slow amount, a hundred aida and then that and the token price was 10 10 cents.

A

Okay, so that would mean um it's like a ten dollar, it's worse than us dollars. Okay, that that's like the this was the valuation, and now you know whatever and sometime passed and now the token price is 15 cents, not 10 cents.

A

So so we're going to calculate backwards. We're saying like how much aida do we need to give you that is worth ten dollars? Okay, because that was the amount initially. So now that it's 15 cents- I mean- oh, my god, my I don't want to mess up the mess right, but uh it's 15. It's 15.

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It's like 66.6666 aida he will receive because, because uh that's that's, that's that's ten dollars so um and let's take the opposite: let's take the opposite use case. Okay, let's say that during the time between the finalization of the proposal and the price dropped to uh you know: 0.05 cents, you know we don't want to so again. We will. We will effectively give the proposer double the ada he requested to keep to keep the dollar valuation the same.

A

So when you go and you need to pay implementers and pay yourselves and pay rent and and most of these things usually don't accept ada, you know we're making sure you're covered okay. So that's the principle and there is um a part in our faq document that refers to it and.

A

And that that defines the exact dates, so the data will be calculated is the date of the funding. You know the moment you get like the same day, you're. Getting that reward that propose a reward in your account is is the day we.

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A

All right yeah, nobody wants to come up shot shots from the roof rooftops like go community challenge.

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I hope I hope you're excited about this as much as I am and you're just.

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Has there been thought given to how these delays and uncertainties affect fund-to-proposal proposals and their proposals.

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Yes, there has been a lot of thoughts, we're thinking about it, a lot and we're.

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This is why we come here every week to to update you, and this is why we um as a product manager. I took a lot of the scope of what we plan to do to fund to and and like, for example, we won't have private voting.

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We just have public voting just for fun too, in order to get get this thing out the door earlier, and so we're doing like everything we can to again working weekends, probably working part of the holiday to ensure uh to address this as fast as possible and um yeah, and we know that it affects proposers it sucks, um but be patient. This is just the first round.

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First, first, our first pilot a large scale pilot, and it was clear that things will not be perfect and there will be lots of things to learn, and I think that and beyond what beyond the bad things we learn to fix next time. We also learn so many amazing things that that I have 100 certainty, that that this project is going to be a huge success and because, just with a quarter million dollars, we achieved so much.

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uh We have such great proposals like the process, went pretty fluidly until now, until like the the hitch up with the the voting that that. I think that um I think, once this machine is, is uh start to get going and charning. What we're gonna see, we're gonna, see incredible results and just be patient.

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No, we shouldn't have waited until things were more worked out. Chris. I think that I think it's easy to say in retrospect, a lot of the things were not couldn't possibly be predicted. Sometimes you need to just go head first and do your best and innovate and learn as you go and iterate we. We did predict that we we every time at the start of the town hall.

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I keep saying you know this is an experiment, documentation's lacking we're, gonna improve. You know, it's gonna be confusing. It's gonna be weird um because we knew but but this is our approach, you know it's it's uh it's uh we move forward and we break things and but we try to keep we we try to keep you all posted and updated as things happen, and we try to learn and- and we're learning really really fast.

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Look at how far we've come in 10 weeks we became the largest now in the world. Let's not you know, I'm you know, I obviously I feel bad. Obviously, I feel bad about the proposers and I care about them a lot, and these are the most important people for this project and it's success, but also, I see a lot of the good things and I'm confident in our path forward.

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And okay, so unless there's any super crazy questions, urgent questions and I'm gonna, I'm gonna peace out and I'm gonna go back to delivering fun too as fast as possible.

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So thanks everybody for tuning in and I'm really really looking forward to see what kind of community driven challenge you're gonna come up with, because I'm sure it's gonna be amazing. I mean I've I've. I like every single time. We've asked this community for anything.

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It surpassed, like, I think, four times our our actual expectations, and I and I don't expect this to be different. I expect something truly impressive and amazing to come out of this process and I think we're we're ready and- and I just want to be there- to help you all and make sure we get the we we do it both that both that it's the actual challenges are effective and that we learn as much as possible and get this process improved as quickly as possible.

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So thank you. Everybody. A voted question remains unanswered.

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Will the treasury still be manually operated or at what point will it cease to be manually but automatically operated, and I think we need to wait for gogan for for full automation. It will take some time, and I am we are going to.

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We are going to introduce new mechanisms and that directly involve the community in order to approve these funding grounds, I'm not gonna, I don't want to tease too much. I mean I I mean honestly like one of the things I've been working on beyond the fun too.

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We've been working on the whole plan for 2021 and we have like kind of an amazing roadmap that I've just like you know it frustrates me that I can share share it with you all like right now how amazing it is, but um once it's done and it's and it's confirmed and and you know we know, we have the the right plan and budget in place to implement it.

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I'm gonna share it with you and it will blow your minds and you will see how we're moving towards impact towards decentralization towards handing over the power to the community. In many ways. I think I think the this this bottom-up challenges are a first step, but you know it's: it's going to be really rapidly rapidly escalate uh through 2021.

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So this will be great thanks.

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