Project Catalyst
Project Catalyst is a decentralized autonomous organization (DAO) bringing on-chain governance to the Cardano blockchain by allowing the community to self-determine priorities for growth.
Overview
The main goal of Project Catalyst is to give Cardano users more control over the direction of the blockchain. This is achieved through a voting process that allows users to propose and vote on changes to the blockchain, such as new features or protocols. These votes are then used to guide the development of the Cardano ecosystem, ensuring that the community's needs and preferences are taken into consideration.
Proposals submitted by the community to develop applications on the blockchain are voted on by ADA holders, and the winners receive funding for those projects. This money comes from Cardano’s treasury, which is supported by 20% of the rewards collected in each epoch.
By using a voting system, the community can ensure that decisions are made democratically and that all voices are heard. This helps to build trust and credibility within the community, as well as to ensure that the Cardano blockchain is aligned with the needs and preferences of its users.
Funding
Project Catalyst also serves as a funding platform for projects that aim to improve the Cardano ecosystem. Through the use of a grant program, the DAO can provide financial support to developers and other community members who are working on projects that align with the goals of the Cardano community. This funding can be used to cover the costs of development, marketing, and other expenses related to the project.
Project Catalyst is divided into a series of funds which are deployed every six weeks. These funds will illicit ideas in the form of proposals from participants. Each proposal will focus on a challenge issued by the Project Catalyst team or the Project Catalyst community. The proposals will then go through a community refinement process where they are vetted for feasibility, auditability, and impact by a group of incentivized proposal assessors. Once the proposals have been finalized they will be voted on by the community and funds will be distributed in the form of ADA to winning projects. Each stage of this process is described in greater detail throughout this document.