Rocket DAO project has ambitious desire to build a destructive technology for investing activities. Our platform is for interacting among 3 communities: investors, startups and experts. Startups suggest their projects for funding, experts evaluate them according to the developed methodologies and investors allocate funds while insuring the risks are kept at minimum thanks to experts’ input. In this article we want to present you our vision of how it works.
If you want to become an expert on our platform, please, feel free to contact us:
Rocket DAO Expert platform was built to create and grow an expert community that would perform audit of the blockchain startups and continuously improve evaluation methodologies, giving expert support for investors and startups, looking for investments for a pre-agreed remuneration.
The main purpose of expert community is to improve the quality of projects that are looking for crowdfunding and to increase percentage of successful projects thanks to experts’ hands-on assistance.
To achieve this goal expert community should undertake the following steps:
screen and assess the best projects;
make suggestions for improvements of different aspects of the project;
collect and analyse actual project’s results data with the forecasted results and adjust evaluation methodologies accordingly.
We’re establishing Rocket DAO Expert so that
experts could be able to deepen and monetize their expertise\competence by means of project evaluation;
experts could get a community feedback on their competence level through rating system and various other communication tools;
experts could improve relevance of their knowledge continuously, by checking their forecasts on projects’ future against reality;
experts could be remunerated for their work both on contractual and consultation basis;
investors could get reliable information about projects and its outlook from the point of view of experts, not to waste investments on scam and unsuccessful projects;
startup teams could get a feedback on their potential and improve the project and get direct access to funds.
RocketDao.expert as a function of Rocket DAO
Rocket DAO is a decentralized platform that enables safe and efficient communication and interaction between the following parties:
projects that are seeking financial support;
experts who want to apply and enhance their competencies for remuneration.
investors who are willing to contribute funds to ambitious projects while insuring the risks are kept at minimum thanks to experts’ input.
As such, the platform implies the following sequence of interaction:
Projects give relevant information about themselves by filling in the form developed in accordance with an assessment methodology.
A group of experts “analytics” verify the information about the project, then another group “experts” make an assessment of its commercial prospects.
After the audit “investors” make a decision by voting how much funds they will give to the project. That leads to shortening of the period of attracting investments and marketing cost saving for the project.
We divided experts into 3 groups in accordance with functions to be performed, as the process of project evaluation includes fundamentally different objectives in terms of competencies and knowledge:
Analytics verify the accuracy of projects’ data provided. They use open and other sources to verify the reliability of the data about the team, the market size and other data on which the assumptions about the future success of the project are based. The main clients of analysts are experts. It is the experts that are assessing the work of analysts. Each analyst can verify the validity of the project’s data for only one group of parameters. Other experts can also evaluate the work and commentaries of the analysts.
Experts use community approved techniques according to their scope of competence. They evaluate projects using certain parameters. Investors become clients of experts. In order to be considered as an expert, the candidate should analyze at least 10 projects as an analyst with a positive rating. The expert makes an assessment of a project, comments on the reasons for his decision, and gives recommendations to a project on improving the parties that he\she assesses.
Methodologists develop methods used by the experts. For each use of his\her methodologies, the methodologist receives a reward. That builds a passive source of income for him.
Process of project evaluation
Experts serve the key process - estimating the appeal of project’s business-model and projects’ tokenomics. It has the following structure:
A project fills in the form on the platform.
Project’s card with this information goes to a “Sandbox”, where it can receive votes and get nominated for evaluation. In order to vote for projects a user should become a member of one of the pools created on the platform. Once a pool shows its interest in investing, the selected project gets notified. If a project agrees for the evaluation to be done, then the date of evaluation is set. By this date the project should give all the required information on the team, business-model, market structure, resources, product, token model, technologies, marketing, legal, risks for full analysis.
Startup signs an agreement to pay the platform 5% of raised funds for getting platform’s services, including but not limited to access to investment community and experts’ network.
An expert signs an agreement with the platform’s team, under which he\she gets remunerated for the services provided in proportion to his input: 10 analytics, 10 experts, 10 methodologists. Meanwhile, the total remuneration for experts for 1 project evaluation is 2% of project’s raised funds from the platform (of these, 0,7% for analytics, 1% for experts and 0,3% for methodologists).
Beyond that, a project also pays 5000$ in ETH to the group of experts, who audit that project. This transfer is made through a particular smart contract. This remuneration is then distributed amongst experts involved into such evaluation with a similar proportion described above.
The information provided by the project goes for expert evaluation.
Experts are nominated randomly.
A group of analysts (each person within his\her respective areas of competence in team, business-model, market structure, resources, product, token model, technologies, marketing, legal, risks topics) verifies all project’s data by signing each decision via metamask [key] in blockchain.
Verified data goes to an expert group according to their competencies (such as team, business-model, market structure, resources, product, token model, technologies, marketing, legal, risks). Once the data in received, experts use approved by the community methodologies to assess project’s prospects and signes each decision via metamask in blockchain.
Each project’s parameter is assessed on a scale of 1 to 10. There are 10 parameters: team, business-model, market structure, resources, product, token model, technologies, marketing, legal, risks - so the maximum score the project can get is 100.
Besides rating, experts suggest whether the project is on a relevant round for investments.
Evaluated projects get rating according to the assessment. After they get enough key signatures form the expert community, they get access to crowdfunding smart contract creation tool.
While project goes through rounds, on each new round a new group of experts is formed.
Each new group of experts gets remuneration on each new investment round.
If an expert agrees to participate in project evaluation, all functions for investing into this project will be blocked automatically.
An expert randomly receives an invitation to participate in a project evaluation and has 24 hours to accept/decline it, if he\she doesn’t react, an invitation goes to another expert, also randomly.
If any expert quits the evaluation process then another expert will be randomly chosen for it.
Experts’ remuneration
Each project distributes 2% of raised through RocketDAO funds amongst the experts that provided audit for the project in the following proportion:
analyst team gets 0.7%;
experts team gets 1%;
methodologists team get 0.3%.
Same proportion applies to the remuneration of 5,000 $ in Ethereum paid by the project for audit.
Rating of experts
Rating of analysts depends on the evaluation of the information verified by the analyst, which the expert receives. Each expert, receiving verified data about the project from an analyst, presents an assessment of the quality of the evaluation. Average score shows the rating of the analyst.
Rating of experts is influenced by 3 factors:
Community evaluation of the results of the project assessment conducted by a particular expert. After the expert’s work for the project is done, a group of experts is formed by random selection that assesses the quality of the work conducted. Any interested experts and methodologists can join this process.
Investor’s feedback on the quality of the work conducted by an expert.
Each expert, in addition to the assessment made in accordance with the methodology, forms his\her own opinion about the prospects of the project. The closer to reality his opinion is, the higher rating he receives.
Project’s evaluation parameters
All projects are evaluated by the following parameter groups:
Product
Project’s product
Technologies, smart contracts
Business-model
Business-model
Market size
Tokenomics
Assets. Resources
Promotion
Team
Project team
Security
Legal
Risks
At least one methodology is developed for each parameter. For each parameter, no more than 5 methods can be used.
The evaluation process consists of minimum 4 analysts and 4 experts if they are willing to evaluate the project as a whole and through evaluation of each parameter separately.
The maximum number of participants in the assessment is 3 persons per parameter.
Quantitative project evaluation on different rounds of investing
For different rounds of fundraising there are different requirements for projects. In the early stages of collecting investments having thoroughly designed project is not necessary. It is enough, for example, to have a strong team, idea and technology. The correlation between the project’s requirements and the investment round he is in should also be reflected in the project evaluation.
Also. regardless of the parameters of the assessment, which by the decision of the community can change, their total number should not exceed 10.
The maximum project score for each parameter should be 10. This means that for this option, in the last rounds of investments, the project should have maximum solutions, validity and prospects.
Thus, the maximum number of points that can be gained by an absolutely effective and promising project is 100 points (10 points for 10 parameters).
Therefore an expert evaluation at each round should make a comparison of the current state of the project with that required for the last round.
Procedures for the work of experts
Expert Rating delivery
Approval and storage of methodologies by the expert community
Verification of data by an analyst, writing a report to an expert
Analyst rating conducted by an expert
Analyst’s and expert’s rating conducted by the expert community
Analyst’s and expert’s assessment verification by the expert community,
Project’s evaluation by an expert community. What if the assessments by the community and experts are opposite?
Policies and procedures to become an analyst
Policies and procedures to become an expert
The methodologies library order construction
Methodology evaluation selection
Exclusion old methodologies
Existing methods’ improvement and remuneration for it
