Thread by @danny_cryptofay

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📢💨 #cardano $ada Project Catalyst Fund 3 Town Hall #1:

👉 Fund 3 process is launching
👉 Goals & aspirations for 2021
👉 9 funds to be launched in every 6 weeks
👉 Fund 2 - updates pending

👇 All deets in thread below 👇 @InputOutputHK

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🤝 Welcome To The Experiment 🤝

Things may:

👉 break
👉 lack documentation
👉 differ greatly between iterations
👉 disorient, overload, inspire

🎯 goal is to provide safe & lively environment for you to explore the highest potential of human collaboration.

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Why to join? 🤔

Maybe...

👉 to interact with community members
👉 to build something impactful & meaningful
👉 to learn & grow
👉 to build your reputation
👉 to make living/supplement income
👉 to actively influence token price
👉 to make history together

...up to you

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🎯 2021 Catalyst Goals 🎯

👉 Emancipation - get community where we it is self-determining, gradual transition of power.
👉 Adoption 👇

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👇 Catalyst Adoption 2021 Goals 👇

$500,000 ➡️ $10,000,000 funding rounds
4,000 ➡️ 10,000 members
2% ➡️ 50% voters
100 ➡️ 500 proposers

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0 ➡️ 100s of DApps built on top of #cardano

User Adoption Metrics such as

👉 Daily active users
👉 Daily Tx's
👉 Daily ADA volume

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Fund 3: 3⃣ different challenges

Adoption:
👉 DApp creation challenge $250k
👉 Dev ecosystem challenge $250k

Emancipation & Adoption:
👉 Community choice challenge $500k in Fund 5

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How to contribute? 🔨

👉 Proposer - have an impactful proposal for your idea?
👉 Community Advisor - provide reviews & assessments
👉 Voter - use voting app to choose ideas worth funding
👉 Implementor - turn funded proposals into real-life projects

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What are the possibilities? Where can we go? How fat can we take it? See image. 🤓

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What are things to look out for (pain points in innovation) vs. where we are now in Catalyst. See image. 🤓

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Regular Company 🏭

👉 can hardly pivot
👉 explore & exploit doesn't work (75% failure rate)
👉 slow to hire, risky to fire
👉 slow to build consensus

Catalyst 💯

👉 hundreds of experiments
👉 crowds can explore w/out cuffs
👉 can mobilise quickly
👉 no need for consensus

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👉 9 funds to be launched in 2021
👉 every 6 weeks new Fund

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Fund 3 Challenges:

1⃣ What DApps should be built to drive user adoption

👉 worth $250,000

Tracking Metrics:

☑️ How many daily active users?
☑️ How many transactions were made?
☑️ How many funds were transacted?

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2⃣ Dev Ecosystem Challenge - how can we encourage developers to build DApps on top of Cardano

👉 worth $250,000

Tracking metrics:
☑️ How many developers did we attract
☑️ How many developers were successfully onboarded to develop on top of Cardano

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3⃣ Which challenges should be launched during Fund 5 (March 31) in order to fulfil Cardano's mission?

👉 worth $500,000 in Fund 5
👉 this is intended to brainstorm during Fund 3 timeframe

Metrics:
☑️ community advisors' scores for top 10 proposals
☑️ voter engagement

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Timeline for Fund 3: ⏰

1⃣Jan 6th - 13th -> Insight sharing
2⃣Jan 13th - 20th -> Proposal Draft Submission
3⃣Jan 20th - 26th -> Proposal Refinement
4⃣Jan 26 - Feb 3rd -> Proposal Final Submission
5⃣Feb 3rd - 10th -> Proposal Review
6⃣Feb 16th -> Governance phase

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Homework for first week:

1⃣Register in cardano.ideascale.com
2⃣Pick a challenge you have something to say about/connect with
3⃣Post your insight 👇
4⃣Join t.me/cardanocatalyst

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What to look for? 🤔

👉 How does success look like?
👉 Share sources/projects to be inspired by?
👉 Which projects would you like to see proposed?
👉 Would you like to offer your help with anything?

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🎉 BONUS content in the town hall video @ 57th minute. Watch via link in last tweet thread.

👉 METADATA workshop with Alan McSherry.

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Stay in touch & up to date with #projectcatalyst:

TH Recording: crowdcast.io/e/project-cata…
TG group: t.me/ProjectCatalys…
TG announcements only: t.me/cardanocatalyst
Discord: discord.gg/2RnUtK8
Ideascale: cardano.ideascale.com
Dashboard: docs.google.com/spreadsheets/d…

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