In Project Catalyst Fund 12, Smart Contract Audit Token (SCATDAO) was funded to continue hosting it’s monthly Do your own research (DYOR) Competitions.
What are DYOR Contests?
It is a monthly research competition where anyone can research any Cardano project they like using our in-house tool, DYORTool.io. The tool teaches someone how to research all aspects of a token or NFT, walks them through the steps to perform the research, and then creates a custom research report that can be shared. Contestants have 2 weeks to perform the research and submit their reports, and then there is a week to discuss them and vote on which people think are the best (most thorough, most accurate). There is 1,000 ADA in prizes awarded to the winners.
The goal of these competitions is:
- To incentivize the Cardano Community to learn how to research projects and spot red flags or competitive advantages.
- To increase awareness and encourage discussion of Cardano dapps, tokens, and NFTs.
- To build a library of unbiased, community driven research reports that are free and open to use by all.
Participation Levels
For F11 we ran these contests for 6 consecutive months. We had a total of 68 research reports submitted during that time on various Cardano projects. We saw the weekly number of participants increasing every week, ending with 15 in our final competition of that round. A lot of time and effort is put into these reports, and we were thrilled with the level of participation, which we hope to grow going forward.
Going Forward
We request 6 months worth of funding in each Catalyst round, which typically lasts until the next fund has been launched. We have been getting a lot of great participation from the community and have been teaching many new people how to research crypto projects. If the community sees value in what we are doing, we hope you will continue to support us in Project Catalyst.
If you’d like to participate in a contest, please stop by our Discord community. If you would like to use the DYOR Tool or view our library of reports, please check out our official website.
