What are you doing to mitigate bad actors putting forward scam proposals?
The remarkable aspect of a decentralized innovation fund, like Catalyst lies in its inherent self-governance, accountability, and resilience. Catalyst is a bunch of mini ecosystems working together to bring innovation to Cardano from the ground up. Since everyone is interested in seeing the highest impact proposals get funding, the community does a great job of doing community reviews and sorting out which proposals aren’t the best fit for Catalyst funding. Another fail-safe measure in place is the moderation of submitted proposals. Incomplete or spam proposals are filtered out before undergoing a thorough round of community reviews.
Will IOG vote for their own proposals with their ada?
No, IOG will not influence the vote with any wallet under our control. IOG has a long-standing policy about not participating in Catalyst voting. This policy will continue throughout Fund10.
How transparent will the voting be? Will it be on-chain?
Catalyst voting has always occurred on-chain, utilizing the Jormungandr sidechain, initially utilized to test the Ouroboros Shelley Incentivized Testnet’s infrastructure. This allows Catalyst voting to benefit from the same high level of security as the Cardano mainchain in many cases. Catalyst voting is designed to be privacy-preserving. While there is a degree of transparency surrounding the voting process, it is impossible to determine the specific direction of an individual voter’s choice. As with all blockchains, the ledger itself can be audited. In Fund10, we are taking additional steps to ensure transparency and verifiability. We will make the tally independently verifiable, and all voting data will be publicly available to the community.