dRep improvement and onboarding
Fund Size: 150,000 USD paid in Ada
The dRep could not be more important to Cardano given the following
- The participation rate of Catalyst voting is less than 20%.
- Statistics show that 30% of Catalyst voters randomly vote without reading the proposals.
- It is difficult for Catalyst users who are not necessarily skilled in technology and English to judge nearly 1,000 proposals.
- Potential relevance to Decentralized Consortium Funding and roadmap approval voting through 2025.
For the dRep to function better, the following four elements are necessary
- dReps must be diverse.
- There should be many dReps.
- High delegation participation rate.
- Appropriate selection of dReps for delegation.
Failure to achieve (1) and (2) is centralization, and failure to achieve (3) and (4) is Catalyst dysfunction.
Therefore, after one year, “(1) More than 200 dReps from more than 100 countries have participated. (2) Voters are voting with more than 50% and with careful consideration of their mandate.”
This proposal was created to create a situation where What tools, events, support, and content would fully achieve the KPIs? Let’s think about it!
Why is it important?
Without a diverse and many dRep participation will make us centralized. and without an easy and proper voter delegation would make us dysfunctional.
What does success look like?
After one year;
- 200+ dReps from 100+ countries have participated.
- 50%+ of the voters are voting “carefully”
Key Metrics to measure
- Diversity of dReps: Did it lead to the onboarding of diverse dReps with different languages, national origins, occupations, genders, ages, religions, etc.?
- Number of dReps: How many dReps were onboarded?
- Number of delegates: How much did it contribute to increasing the number of delegates to dReps?
- Accuracy of delegate decisions: How well did we create content and tools to make it easier to consider dReps?