Castle Capital was one of the STIP.b Advisors — this role was expanded based on the previous contributions as Advisors for the LTIPP program to support protocols with their STIP.b applications. This encompassed reflecting on STIP impact, setting realistic KPIs, and sparring on the incentive mechanisms and distribution of funds.
Each advisor was assigned about 20 protocols during the application phase and followed around 12 protocols each throughout the entire five-month program.
During the initial STIP, protocols had no established actor helping them throughout the application, resulting in cumbersome processes, delays, and a higher degree of proposals being incomplete or insufficient to move forward.
Part of our STIP.b evaluation included studying previous results from STIP, which provided us (and the protocols) with a better understanding of what worked or did not from previous incentive campaigns. Protocols also had to follow an application template where they themselves were asked to provide their feedback on STIP, which will be invaluable for the development of future incentive programs and whether they would change their distribution strategy from STIP.
Based on this, we’d evaluate the Addendum and provide feedback on what worked and what should be changed based on the reports provided.
Castle Capital has continued supporting protocols throughout the distribution of the incentives, working as point of contact for general support and helping them in case of desired changes to their mechanism of distribution.
As part of our role, we received positive feedback on our contribution from protocols involved in this program, stating that our support has been instrumental in preparing and submitting a complete application and securing the grant.
Thanks to the combined efforts of all the advisors, over 39 protocols successfully received funds.