Fund 11, launching on November 15, 2023, aims to continue the Project Catalyst experiment, with 50 million ADA allocated for proposers, reviewers, and voters. Several changes have been introduced for Fund 11, including:
Voting mechanism: Previously, voters could upvote, downvote, or abstain, but downvotes often led to unfair outcomes. In Fund 11, downvotes have been eliminated, simplifying the process to a choice between “YES” and “Abstain.”
Limits proposer to a maximum of five proposals in Fund 11, curbing the practice of submitting numerous low-quality or duplicate proposals. This restriction aims to maintain the experiment’s focus and quality.
Separate entry levels for Concept, Solution, and Product proposals, each with varying budget limits. This segmentation allows for more accessible participation, especially for newcomers, and ensures that Catalyst continues to bring fresh ideas in each round.
Campaigns Restructuring: The Catalyst team has redefined the campaign structure, streamlining it into five broad categories to ensure predictability and consistency from fund to fund. These campaigns are designed to align with the community’s priorities and expectations.
Active Projects Accountability: To enhance accountability and project completion rates, Fund 11 imposes restrictions on proposers with open projects from Fund 7 or earlier. Proposers with open projects must demonstrate a track record of consistent reporting over six months to qualify for Fund 11 submissions.
Leftover Funding Reallocation: The allocation of leftover funds has been adjusted to exclude the “Product Track” under Catalyst Use Cases. This change aims to redirect leftover funding towards grassroots and early-stage projects, encouraging new ideas and participants.
Scope Alignment: The Catalyst team, now officially appointed as the authority to run Catalyst, will apply fund rules to ensure proposal alignment with tracks and scopes. Unsuitable proposals will be withdrawn before the end of the Community Review phase.
These changes reflect the ongoing evolution of Project Catalyst, seeking to improve the efficiency, fairness, and accountability of the innovation program within the Cardano ecosystem.