Catalyst FUND3. The choice of the Cardano community.

I will analyze the result of the voting for FUND3, developed between February and March 2021.

The funding volume was U$ 500,000, valued in ADA on the day of the funding distribution.

First I will briefly explain the voting system.

The voters mark the proposals as “Yes”, “No” or “Abstention”. The voting power for each proposal is proportional to the number of ADAs at the time of the snapshot. No matter how many proposals are voted on (one, several or all proposals), each voted proposal is supported/rejected by the total voting power of the voter (if the proposal is not voted on, it is automatically marked as “Abstain”).

Based on the vote, proposals are ranked by the sum of votes and are funded in order of community support: Share of those who voted yes — Share of those who voted no.

If the amount requested by a proposal is greater than the amount of funds remaining, it is omitted.

A proposal must have 15% more yes votes than no votes (measured by the total share of ADAs in the Fund) in order to be funded. For example, a proposal that receives 10 affirmative votes and more than 8.5 negative votes will not receive funding.

Official results, here.

FUND3 was divided into 2 challenge categories, with funding of U$250,000 for each: DApp Creation and Developer Ecosystem.

In the voting, 150 proposals were submitted, with a total of 20 voted to receive funding, where 8 were for DApp Creation, and 12 for Developer Ecosystem.

Own design, based on official information.

The Developer Ecosystem category was preferred, as it carried 4 more proposals than DApp Creation, and also 22% more voting power (calculated on the net between “YES” and “NO”).

LIQWID’s proposal continues to carry community attention, in its various phases of system implementation, in the Developer Ecosystem category with “Liqwid:Cardano DeFi Liquidity Pools” with its open source, algorithmic, non-custodial liquidity protocol to earn interest on native Cardano assets and borrow supported assets, with funding allocation of U$53,000.

LIQWID was also chosen in the DApp Creation category, “Liqwid Developer Portal:Cardano SDK” with its software development kits for DApps and oracles to build extensible use cases with maximum security and composability on Cardano, funded at another U$ 53,000.

“Python module” with the proposal to create a Python module that implements base classes for Wallet, Address, Key, Transaction, etc. and provides a well-structured exception tree, was voted second in the overall grid, according to the net of voting power, assigning it the requested funding of U$ 10,000.

Interest in smart contracts was the focus of attention.

Voted with great acceptance the proposal “Visual Studio Smart Contract Plugin”, development of plugins within Microsoft Visual Studio to build smart contracts from Cardano.

“Dapp for business Contracts” to create an easy-to-use application for widely distributed cell phones where users can upload PDF contacts and sign or verify them.

Oracles, along those lines were also chosen with “Metadata oracle node”, an easy-to-use node software that lowers the barrier to entry for new oracle operators and “Metadata oracles explorer” to build a public metadata oracle explorer, which will serve as a go-to place for developers to learn more about oracles.

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