Improve and Grow Auditability
How to make the auditing process of funded proposals efficient, distributed and transparent?
Fund Size: $100,000 USD paid in Ada
When Fund7 happens we will be close to 100 funded proposals. It is extremely important that these proposals are evaluated/audited to see if they are delivering and if the ROI is being in line with what has been established initialy.
Currently, IOG is in charge of monitoring the development of these funded proposals, but when there are hundreds of funded proposals this will be an overwhelming work for IOG.
The Auditability challenge aims to ensure transparency in the use of Cardano’s treasury resources, which will allow the Cardano community to have more information on the development of funded proposals through a checks and balances system.
Some directions that this challenge can take:
Podcasts with teams from funded proposals.
Smart contract audits.
Platforms / Websites that perform:
Reporting on metrics, spending of financial resources.
Metrics on the development of Dapps (txs, volume, unique wallets, etc …)
Metrics on Number of onboarded developers, number of commits in funded proposal repositories.
Social media engagement indicators metrics.
Why is it important?
It’s important that the funded proposals are evaluated to see if they are delivering what was established in their mission..
How does success look like?
Several projects evaluating funded proposals, providing reports, articles and metrics on the development and implementation of the projects.
Key Metrics to measure
Number of funded proposals audited
Considering that the idea is to audit and report on the development of proposals in different challenges, it is important that success metrics are thought out in relation to each challenge.
Number of reports, articles and videos/podcasts on:
- Number of onboarded developers.
- Number of commits in funded proposal repositories (Github)
- Indicators of: transactions, volume and unique wallets interacting with dapps.
- Number of smart contracts audited.
- Social media engagement indicators.