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Catalyst_Fund8
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Feb.2022
Athena Proposal Fund 8
Proposal
Problem statement
Crowdfunding platform do not provide a in-built system assuring that proposed performance matches expectations and preventing no-delivery/no-payment cybercrime
Problem solution
Athena, a Cardano Blockchain DeFi ecosystem based crowdfunding platform with in-built KPI (Key Performance Index) through mediation/conflict resolution functionality and participants credibility assessment algorithm to enhance all participants reliability
Relevant experience
Three Plutus Co-hort members, Hackaton final team at 2.Plutus Pioneer Program cohort, 10+ years IoT/Robot development experience, 15+ years computer science experience, 10+ years marketing and project management experience in manufacturing sector.
Who we are
Athena team was born during the 2.Plutus Pioneer Program and was set up to successfully participate to the Hackathon (Aug. - Oct. 2021), reaching the final stage.
See https://github.com/GabriIT/digiservices-frontend
Athena team member
-Samuel, 10+ years experience as front-end engineer
-Mateus, 2+ years as back-end engineer
-Gabriele, 10+ years as entrepreneur, IoT designer and robot system engineer
What is Athena
Athena is a crowdfunding platform with in-built mediation functionality. Any registered member can propose or support a project and also candidate to become a juror for mediation cases in other projects.
How does it work?
Athena aims to overcome the limits of physical contracts by providing a platform that enables parties to create contracts stored in the Cardano blockchain. The platform builds members trust based on token rewards and penalties, supported by a Credit Assessment System (CAS) able to address every platform member.
The reward-penalty system is an algorithm that collects statistics related to the service transactions, user reviews, and other activities. It returns the amount of tokens that will be rewarded. Parties that refuse to follow the rules defined in the contract will be penalized by losing tokens proportionate to the severity of their violation. In extreme cases membership access to the platform will be suspended.
In such a case all member's account own assets, such as ADA and DSET (the utility token) are burnt. Members can register upon going through KYC process with little access fees to prevent abuses.
By integrating real-world reliable inputs with strict on-chain contracts, Athena mitigates the ambiguity common in natural-language written contracts, while preserving the flexibility needed to communicate with the real world.
Trust among mediators, service providers, and clients will be measured by a review system that is powered by DSET tokens which represent a "trust score". This system, when combined with other components, will be used to determine a user's periodical reward.
When signing into the platform members receive a reliability score of 60 (max is 100), called CAS (Credit Assessment Score). Based on activities on the platform an algorithm will periodically and dynamically update CAS values. CAS represents a key attribute associated with each member and displays the reliability of the member in the past. It has also an ethical value in preventing misbehaviors and driving commitment.
Mediators are rewarded for their activity in the specialized sector
Crowdfunding features - Campaign Proposer set:
1. Project description
2. Measurable performance items (KPI)
3. Collaterals tokens (ADA): showing the commitment in delivering according to KPI
4. Value Target to achieve to make the campaign successful
5. Minimum single subscriber figure
6. Campaign start and end
7. Date of delivery if campaign is successful
8. Requesting the stepwise receipt of total pledged amount
9. Selection of mediator from available list
Athena DApp Core Components
Athena identifies two core components to provide a in-built mediation crowdfunding platform that is affordable, fast, fair, and provides a great user experience:
A. Ease of Use
Users should be able to create Smart Contracts in a few clicks using an advanced interactive drag and drop editor. Contract templates will provide an easy way to offer and subscribe services. Visual training will be provided on the platform as well as on main social to widespread blockchain wallet management and platform functionality.
B. Competitive fees
Crowdfunding related fees will be as low as one third compared with presently existing crowdfunding platform. This is achieved by low payment transfer fees thanks to Cardano transaction fees level and due to highly automated process integrated into the platform.
Everyone will have access to contract templates to launch and subscribe a campaign. A one-time small entrance fee is required mainly to prevent membership spam attacks.
Hereafter the main crowdfunding platform features at 1. Development Stage:
• Two tokens will be minted and provided to students of the selected pilot high school: GR (GRADES ) and SU (SUPPORTS)
• Each student registered on Athena receives 1,000 GR and 10,000 SU
• GR are used as collateral: the project proposer commits an arbitrary amount to show how committed he/she is to the project performance.
• SU are used to show support of other projects
• A higher amount of grades committed will mean also that the student will receive a higher evaluation if the project is fully executed as for smart contract
• A higher SU provided by other students will mean a higher acknowledgement and evaluation for those who supported a successful project. If the project fails, or succeed only partially, SU are lost or provide only a little contribution to those students who put them.
Example
-Alice loves Maths and proposes building a cool website as project. This contains maths tools and resources to help students understand what is being taught at school. Accordingly she states some measurable and identifiable performance metrics.
-Bob, Charlie and 7 other students like Alice's idea and allocate some of their SU tokens to contribute to Alice's project. Upon successful project execution, Alice's grade is calculated through a formula weighting both committed GR and SU tokens.
Awarding the full tokens set requires Alice to request it and trigger the smart-contract in-built 'mediation/conflict-resolution'. The selected mediator will be called in to check all performance items that Alice set in her project. Upon this check the tokens are released. If any item fails the students who provided support SU will vote to decide the project percentage achievement. The project result affects also the CAS value of Alice as well as those who supported the project.
Cardano Community benefits
-large users base aiming at increasing utility and adoption of Cardano
-enabling high school students creativity development through Cardano
-dynamic credit score associated with each member: this will represent a major improvement to achieve trust through technology to prevent no delivery/no payment cyber-crime issues
-access to all participants to become jurors of a specific category and being rewarded for the activity
-far lower fees vs presently existing crowdfunding platforms
Development Stages
1.Stage
Pilot school crowdfunding platform in Italy with agreement with Italian Ministry of Education (MIUR, Ministero dell'Istruzione, dell’Universita' e della Ricerca) : Launch by Sep.2022
Transaction processing through Cardano testnet
2. Stage
Enlarging project to 38 school in Varese province
Launch by Feb.2023
3.Stage
Crowdfunding platform open to all people, provided KYC procedure
Crowdfunding Example 1
Crowdfund Campaign Title: Assistant Robot development Crowdfunding Campaign
-Performance metrics, KPI committed in smart contract
1 – Lightweight (< 6 kg) wheeled-robot made in high performance thermoplastics
2 – provided with Ultra-sound and vision sensors
3 – on-edge ML
3.1: provided with 8 Gb RAM
3.2: provided with 4 Gb RAM
-Funds required: 30k ADA
-Unit price: Product A (3.1 feature) : 500 ADA; Product B (3.1 feature) : 400 ADA
-Minimum single subscriber figure: 75 persons
-Campaign start: Jun. 2022
-Campaign end: Aug.2022
-Delivery start: Jan.2023
-Collateral by proposer: 3k ADA
Pledge funds delivery to campaign proposer:
-30% if campaign successful (> 100% of target amount is achieved)
-40% after 10% of total units/services delivery
-30% after 50% of total units/services delivery
Crowdfunding Example 2 (School Students Proposal, Stage 1.)
Crowdfund Campaign Title: Digital system for tracking dismantled electronics
-Performance metrics, KPI committed in smart contract
1 - database including main and relevant materials related to electronics item to recycle
2 – Front-end for administrator and users
3 – transactions through Blockchain Cardano
• Required GRADE units: 50 GR
• Required Support units: 1000 SU
• Project start upon achieving target: Sep. 2022
• Project end : Feb.2023
In case of project successful execution project team will be awarded actual grades based upon an algorithm agreed upon with the school teachers
Rolling Schedule
Funding: May 2022
Front end and Back end final development: Jun. – Aug 2022
Stage 1.
• Training students of selected High School: Aug. 2022
• MVP Launch in pilot High School: Sep.2022
• Students involvement in Catalyst projects: Dec.2022
• Transactions on Cardano testnet
Stage 2.
Launch in full Varese province (30 schools): Feb.2023
Transactions is planned on Cardano testnet; if the environment/school conditions allow it a migration to Cardano public net shall be executed
Stage 3.
New Fund raising for Launch of full-fledged crowdfunding platform : Mar.2023
Launch full-fledged crowdfunding platform: Jun 2023
Governance
-Platform participants are regulated with legal identities and KYC
-During first stage Athena platform is managed through founders and developers core team
-Transactions run on Cardano testnet: two tokens will be minted SCORE and SUPPORT, and distributed to teachers and students
-ADA is the coin used overall until stage 2. From Stage 3. a utility token DSET is planned a governance rules will be reset to gradually move towards decentralization
-A dedicated Discord-server to discuss and improve the platform and assure effective interaction among all platform members
Benchmarks
- Training material for easily operation the platform by Jul.2022
- Launch of Stage 1. with > 50 students registered by Sep.2022
- Catalyst activity involvement by students by Dec.2022 (> 5 projects launched)
- Launch of Stage 2. with > 1000 students registered by Mar.2023
Auditability, Quarterly videos will be published starting from Jun.2022, including
-Platform Development progress
-Training to manage and operate the platform for teachers and students
-Crowdfunding success stories
Request Funding for 1. and 2.Stage: 10k USD
Calculation of funding requirement -Development Front-end
-Development Front-end : 1k USD/ year
-Development Back-end : 1k USD/ year
-Marketing, social networks (Discord, Instagram, facebook,) : 1k USD/ year
-Contabo Server management and maintenance Fees: 2k USD/year
-Contribution to Promotion, Training and Marketing Campaign: 5k USD
Existing dApps in Cardano and other Ecosystems related to the project
-Ethereum Blockchain
1- Pixelplex
https://pixelplex.io/work/ethereum-based-platform-for-crowdfunding-and-icos/
It offers a full-stack package for project proposers including consulting. No in-built trust- system, neither in-built mediation/conflict resolution functionality
2- Kleros
https://kleros.io/
Peer-to-Peer, a global community of users serving as jurors. It does not offer a crowdfunding or services market place platform
-Cardano Blockchain
Innovatio Crowdfunding Launchpad
https://cardano.ideascale.com/c/idea/381419
-Developing a crowdfunding platform that accepts funding for projects outside and inside the blockchain world.
-Successful funding in Fund 7 , funded crowdfunding platform without integrated mediation/conflict resolution functionality