I did the poll because people were asking me and I thought to myself “damn that’s a tough question”. I think they should vote. However the average person with 22K Ada sees CF voting with 600 Million Ada they might think their vote is pointless and not bother. cc: @Southrye 🤷♂️
I agree, don't think they should be voting.
1/n Gonna extend my neck out a bit, but if it were up to me, #Catalyst should only fund things where the contents of the funded items are easily verifiable. Coding-related stuff, educational videos/documents, etc would be the bulk of it. Items like onboarding [subset of people]
So, I, and a lot of other fellow people, found many fishy and weird projects proposing in Catalyst. I don't know what to do with these insights, tho. I don't wanna make a thread where we witch-hunt. That would not be an efficient strategy to deal with this stuff in the long run.
#Cardano Foundation has well above 700 million $ADA.
Heavily influencing the vote in their favour, with ADA they didn't even pay for.
Doesn't seem very fair.
CF, WHY are you injecting your political bias on discriminatory proposal ?
This is a slippery slope, where does it lead ?
Is Project Catalyst throwing money out of the window?
I went down the rabbit hole of a few funded projects and their questionable results.
anerdonawire.com/cardano/cataly…
Too late, that money is gone. The Robbery Forest has invaded the Cardano Bison plains. We need to do a better job at vetting these proposals. #CardanoCommunity
🤬 what the f*ck? the useless "daedalus turbo 10x" proposal got funded with $759000, but none of the koios proposals or for example typhon wallet mobile app. i am speechless 😳
Project Catalyst has grown too fast. We need to slow down and have fewer proposals before wasting money.
Democracy is a mixed bag. We have people voting on things they do not understand wasting public funds on catchy slogans of little to no substance. We're spending 800k on Daedalus Turbo, while projects like @TyphonWallet and @book_io were left unfunded. It is problematic.
I’m hoping IOHK leadership has the courage to put the brakes on future rounds of Catalyst and limit community voting to non-technical proposals where 95%+ of $ADA holders are actually qualified to assess the proposals they have the power to vote on - shameful to waste treasury $
youtube.com/watch?v=z9uM2A…
Looks like Charles is doing the due diligence live now.
Big Pey just tweeted "wtf" regarding Daedalus Turbo. $759,000 budget, and other very legit projects like @TyphonWallet didn't receive funding (they got approved) because of the size of Turbo's budget. Even Rick is questioning this. First off, Daedalus is an IOG project.
Perfect demonstration of the flaws of decentralized Governance, and why central points of authority are natural for checks and balances in nature (ex Math informs Physics).
Should there be Knowledge/Skill tests required for voters on certain subject matter/proposals?
when IO looks at the Turbo Daedalus proposal, it supposedly received the 4th highest number of unique wallets voting of any proposal on Catalyst, but also the highest # of down votes. Is there a way to audit the vote? Can you break down #of wallets yes v. no?
Proud that I took some time to reply to this proposal. Still clueless about what is going on in Catalyst. Maybe we should halt it until we have proper tools and governance processes around it
The bigger problem here is, if most of the community here are surprised to hear it got funded, who tf did really vote for such a dumb idea? Its very disappointing considering we had Typhon mobile wallet in the same category which did not get funded because of this nonsense!
I think this result shows a number of shortcomings of the current status of catalyst.
For one, this proposal should never have achieved a 5.0 rating.
1/3
235 million in ADA downvoted it. Most voting wallets and most down votes of any proposal. 2,000 wallets.
This is what you get when it’s ADA voting instead of people.
Some big whales somewhere wanted this to pass.
FUD articles incoming “Cardano’s Catalyst voting system broken/rigged”… chill out gang, do you want decentralization or not? Let’s do a better job educating voters and vetting projects next rounds!
Congrats to the real builders who got funded in Catalyst today, looking forward to seeing the products / projects 🥳
Todays results do raise some serious questions though on the vetting and ratings of projects when you see some that got funded 🤦♂️
After seeing Daedalus Turbo, I wish to retract this opinion. Not sure what I think of #Catalyst now but there are attack vectors all over the place. Verifiability concerns don't even matter if hundreds of millions of $ADA worth of holders don't even properly assess the proposals.
For reference this proposal also had and "Overall Score" of 5 but has only 50% of the votes and only about 20% of the no-votes.
Ep 13 of #TheUniversalJoint, our #Cardano podcast, is here! We discuss:
-Daedalus Turbo
-Turbo IdeaScale proposal
-Alex's past #ProjectCatalyst projects
-Catalyst due diligence
-And more!
open.spotify.com/episode/4UImKu…
1/n So I spent some time last night on the website votingagents.org which was the first project completed in Fund 7 by Alex Sierkov, for $96,000. He is the person who was approved for almost $800K for the turbo Daedalus proposal.
I have not connected a wallet yet but the
One way to fix #ProjectCatalyst is to get rid of it.
1. Put the 20% taxes in smart contracts
2. Proposers register a key on chain
3. Voters delegate to the proposal like a stake pool
4. The % funds go to those proposals proportionate to Ada every 5 days
No more bickering/Win-Win
Everything that's wrong with Catalyst
Since there has been a lot of talk about the results of the latest Catalyst Fund9, I’m going to summarise what in my view is wrong with the Catalyst system as a whole. Assessments are Broken Assessors could be anyone. We don’t know who the assessors are. A proposal could plant favourable assessors and if they are just smart enough, nobody, not even a vCA could really detect it. There are a lot of very high and very low assessments that made it through the vCA vetting that could have very well...
Worst outcome since the start of Catalyst. Absolutely embarrassing...
Please help get visibility on this.
#Cardano #ProjectCatalyst is being used in a way it was not intended, the only way we can fix Catalyst is by addressing issues that lead to these outcomes.
Please help us get this fixed @IOHK_Charles
A beautiful response and a way to handle this incident, Charles.
Rather than trashing down on the already funded project, embracing them to work together shows proper leadership.
Kudos to you Chrles.
The "Daedalus Turbo"-proposal looks extremly suspect to be. There are 2k wallet which voted and despite that over 230M $ADA voted against it, it has a + of over 60M $ADA. Also me and probably most other people never heard of Alex Sierkov before.
#Cardano $ADA #ProjectCatalyst
1/n How do we make changes to Catalyst?
I am not alone in pondering this question for several weeks (some of have been doing so for months & years.) But for me, when @LidoNation brought up this important question on yesterday's spaces, and I listened to all of the interesting
#CardanoCommunity who wants to work on open source #Catalyst v2.0
The biggest problem to address are:
- Transparency
- UI / UX
We need this now, every governance system needs to allow for correcting mistakes in extraordinary situations. This might be the last chance for Catalyst.
Would put the nail in the coffin for catalyst imo if that were to happen; they may not deserve the funds (from what I’m aware), but they played by the rules. Kind of like saying a president isn’t your president even if they won fairly
4. I feel that Catalyst in Fund 10 will have more engagement and be a better process than if Daedalus Turbo hadn't existed
Somebody please tell me, WHAT THE HELL is happening at @Cardano_CF?
In the past month:
1) Catalyst funding gatekeeping (Turbo fiasco)
2) Cardano Summit charging astronomical fees for project booths
3) No invite/vote for @BullishDumpling as speaker?
A lot of strikes... 1/2
Where do we sign the petition to axe the Daedalus Turbo approval?
#Cardano #ProjectCatalyst