For a project host I think you need to have a cool project, have it started, be a finishable one, Darky can complete here.
As for a Moderator... I think that to moderate something, you have to be very good in that section, be known by people, be nice and have moderator skills. And I'm sure that Darky wouldn't put someone as a moderator until that someone would be trustful enough. All mods I know here do a very good job in their section.
To add onto Oz's bit about moderators: The only time there are sign ups is when a section is undermoderated because the mod there left (Like when Tiki left) or when a new section is opened. Even then, you'll only be picked if you have knowledge of the section and are well known
Couch cough... Another account? Wasn't this some "sacred" rule: No multi-accounts? Heh... If you are here for three months you should know it but whatever...