Withdraw ₳889,500 for Cardano Ecosystem Pavilions at Exhibitions

This treasury withdrawal funds Cardano Ecosystem Pavilions at Exhibitions which will provide the following services:

We propose to host Ecosystem Pavilions at numerous Exhibitions around the world. The funding will ensure that projects are able to have access to much more affordable prices to have a presence at the event. Non of the spots or travel budgets will be 100% funded. We will also be ensuring that projects that sign up understand the importance of pre event work, during the event work and follow up work to achieve the best possible ROI. The aim is that it will give projects a more affordable entry and education into how to truly make the most of exhibitions and marketing.

This Treasury Withdrawal is submitted by Intersect on behalf of the vendor. The following sections; Abstract, Motivation, Rationale and Vendor Profile have been sourced from the approved proposal submitted by the Vendor as part of the Intersect budget process.

This treasury withdrawal funds one of 39 proposals to give effect to the approved budget info action for ₳275,269,340, administered by Intersect via gov_action1u9x73kwufaxa70lfy59g4ynwyrcsaxdcd0gxzzmh67s9fxq4j8hqqk2phgh. The information provided herein is intended to fulfill the spirit of the constitutional requirement for a treasury withdrawal info action by also providing the details of the proposed solution, alignment to the budget, and amount to be withdrawn from the Cardano Treasury.

Note: This withdrawal request has been reduced on request by the Vendor to avoid overlapping with other proposals being considered by the Cardano community - reduced from the Budget Info Action approved ₳1,119,333 to ₳889,500.

This proposal aims to solve the following problem:

There is a genuine need to get more of a Cardano presence at Exhibitions around the world, but the costs are prohibitive for many projects currently. Although everyone knows of Cardano, they know very little, if anything about what has and is being built here or how to build here. We also need to attract more people to the ecosystem, whether its investors, developers or users. Exhibitions are often a key part of all of these audiences' decision making when choosing where to base themselves.

Project Solution

The funds will provide a partial subsidy to projects so they can afford to be present at exhibitions that will benefit them. Part of the funding will enable us to be able to provide support to the projects to ensure they get the most out of the event.

The Pavilions need to be paid for as far in advance as possible to ensure the best price and position is achieved. So the majority of the funds will need to be released upon successful application confirmation. But from a milestone point of view, the vendor will be providing proof that the event took place, along with follow up calls and KPI gathering.

Vendor Profile

Supplyoneers FZ-LLC's proposer has 15 years experience at over 75 exhibitions and conferences around the world in various industries. They have also in the past benefited from Industry and Government Grant subsidy schemes for such activities.Supplyoneers FZ-LLC are employing the best fit here into the proposal for where they currently are as a young and developing ecosystem with very little marketing support to date.

Supplyoneers FZ-LLC have previously had a largely self funded booth at a crypto event in 2023 as well as a satellite event at DIFC to the Cardano Summit where we gave 14 projects the opportunity to present themselves on stage in front of TradFi innovation teams like HSBC/Standard chartered and others.

Contract Management

A written off-chain Legal Contract will be created between the Vendor and the Cardano Development Holdings (CDH), as mandated by the constitution, and will be administered by Intersect. This will include details of the project delivery schedule and dispute resolution.

Project Delivery

All milestones, acceptance criteria, payment amounts and expected delivery dates will be agreed between the Vendor and Intersect, acting on behalf of the CDH. The vendor will deliver according to the agreed-upon project schedule within the Legal Contract, of which the necessary information will be made public via the budget management platform via transaction metadata.

Defined by the milestones within a Legal Contract, the vendor will submit and attest milestone acceptance to the community, Intersect or 3rd Party Assurer.

Project progress will be monitored via Intersect's delivery assurance function which will be communicated to the community.

Acceptance of the above work is expected to be supported by a 3rd Party Assurer, who will be responsible for reviewing and signing off the work completed at each project milestone against the corresponding milestone deliverables detailed within the Legal Contract. This work is funded from a portion of this treasury withdrawal.

Budget Management Tooling

To administrate treasury funds on-chain, Intersect will utilize the treasury management smart contract framework developed by Sundae Labs. The smart contracts have been extensively tested including audits from TxPipe and MLabs. Examples of the usage of these contracts can be seen across mainnet described across Intersect authored Blog 1, Blog 2 and Blog 3.

Final mainnet validation test can be seen via the Disburse action within transaction: 0f591dc544ae14102dbb4a74d5311a6acffc1772b163d8b7a9656b9525950b17

With the confirmed treasury reserve contract address being: stake17xzc8pt7fgf0lc0x7eq6z7z6puhsxmzktna7dluahrj6g6ghh5qjr

Specifics

Intersect will utilize a single Treasury Reserve Smart Contract (TRSC), with many Project-Specific Smart Contracts (PSSC), managed by Intersect. Intersect's management consists of three 'admin' and two Intersect 'leadership' roles. An Oversight Committee consisting of five external, independent third-party entities will provide checks and balances on Intersect, and safeguard against errors and unilateral control. The administration of both TRSC and PSSCs will be managed by Intersect, with external oversight on certain actions from the Oversight Committee.

The Oversight Committee consists of Sundae Labs, Cardano Foundation, Dquadrant, Xerberus and NMKR. Their role is to independently verify key administrative actions using on-chain logic, ensuring accuracy and consistency without exercising discretion over governance decisions.

For all details on Intersect's configuration please see the Smart Contract Guide on the knowledgebase.

The high level permissions are as follows:

• TRSC Fund and PSSC Modify

  • Two of the three Intersect admins, two of the five trusted entities and one of the two Intersect leadership sign-off must authorize

• TRSC Disperse

  • Two of three Intersect admins, three of five trusted entities and two of two Intersect leadership sign-off must authorize

• TRSC Pause and Resume

  • Two of three Intersect admins, and one of two Intersect leadership sign-off must authorize

• TRSC Sweep

  • One of three Intersect admins, and one of two Intersect leadership sign-off must authorize

• TRSC Reorganize

  • Two of three Intersect admins and three of five trusted entities must authorize

Processes

Upon enactment of this governance action, funding for this project will be directed into the TRSC's stake account. All instances of TRSC and PSSC can not be staked with a SPO and will be delegated to the auto-abstain predefined DRep. From here funds will be withdrawn into a UTxO remaining at the TRSC.

When the Legal contract is prepared and the vendor is ready, funding for this project will be transferred using the Fund action to a PSSC. All milestones will be outlined within the metadata.

A dashboard will be available for the community to audit the TRSC or PSSC and track metrics related to this withdrawn ada as well as being immutably verifiable on chain.

The subsections; Contract Management, Project Delivery, and Budget Management Tooling described above cover the constitutional requirements specified in Article IV section 4 and 5.