It’s been almost 2 months since we announced the COTI and Catalyst partnership. Since the announcement, we’ve had teams from all over the world take part in the ADA Pay plug-in development challenge. We received some incredible ideas and feedback from the Catalyst community and partner ecosystem. Thanks to the mentorship, guidance, and resources of Project Catalyst, those ideas evolved into 19 innovative proposals.
Here’s where we are now:
The community members finalized and submitted all their ideas on how to create innovative plug-ins that will be integrated with the current ADA Pay system on one hand and support different e-commerce software on the other. We were excited to receive more than 19 ideas from the Cardano community and partner ecosystem. The ideas were very creative so the competition promises to be really tight.
The members’ ideas were assessed by experts between the 9th and 16th of December.
The ideas are rated based on a specified set of criteria to help uncover the ones with the most potential.
The community were able to publicly ask the proposers questions in order to further understand the logic behind their ideas and how feasible they are. This gave the proposers the opportunity to explain their ideas in depth, for a better overall understanding.
Once the community has reviewed the ideas, the finalised proposals are assessed by Cardano community advisors, who have experience in judging previous Catalyst ideas from past funds (COTI is part of fund number 7).
This assessment process will be finalized by January 6th, and on the 13th, we will enter the Governance phase. At this stage, voters cast their votes to decide which projects will receive funding and continue in their quest. Projects that reach the final stage will share a prize of 100,000 $COTI, which will provide some of the funds necessary to launch their ideas.
Get new updates on the Project Catalyst website here: https://cardano.ideascale.com/a/campaign-home/26256