[GENERAL] Name and surname of main applicant
[GENERAL] Email address of main applicant
I enter this on behalf of my amazing team at Clarity and all of the DAO founders that are asking me what the easiest way to create a governance token is.
[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)
[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.
[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?
[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”
[GENERAL] Will your project’s output/s be fully open source?
[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”
Project will be fully open source
[METADATA] Category of proposal
[IMPACT] Please describe your proposed solution.
Our proposed solution focuses on creating a simple user flow that leverages NMKR APIs, enabling even non-technical users to easily create governance tokens. By streamlining the token creation process, we aim to lower the barrier to entry and empower a broader range of individuals to participate in decentralized governance. This solution will democratize tokenization, fostering inclusivity and encouraging wider adoption of DAOs on the Clarity Platform.
[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
Our proposed solution directly addresses the challenge of creating governance tokens on the Clarity Platform by integrating with NMKR APIs. By simplifying the process, even non-technical users can create governance tokens, enabling them to establish organizations with decentralized governance more easily.
The benefits of this solution to the Cardano ecosystem are numerous:
- Accessibility: The user-friendly interface and simplified token creation process will make decentralized governance more accessible to a wider audience. This inclusivity will attract a diverse range of participants, fostering a vibrant and robust ecosystem.
- Increased Adoption: By removing technical barriers and complexities, more individuals and organizations will be encouraged to adopt the Clarity Platform for their DAOs. This increased adoption will drive the growth and maturity of the Cardano ecosystem as a whole.
- Accelerated Innovation: Streamlining the token creation process will free up time and resources for DAO creators to focus on innovating and building value within their organizations. This will result in the development of more innovative use cases, applications, and services on Cardano.
- Enhanced Governance: By facilitating the creation of governance tokens, our solution will enable DAOs on the Clarity Platform to establish robust governance frameworks. This will empower token holders to participate in decision-making processes, promoting transparency, accountability, and community-driven governance.
- Integration Synergy: The integration of NMKR APIs with the Clarity Platform will create synergies between tokenization solutions and the power of Clarity smart contracts. This seamless integration will enhance the overall user experience and provide a solid foundation for the future growth of decentralized applications on Cardano.
Our proposed solution addresses the challenge of governance token creation, resulting in easier adoption of decentralized governance and fostering a more inclusive, innovative, and vibrant Cardano ecosystem.
[IMPACT] How do you intend to measure the success of your project?
We will utilize key performance indicators (KPIs) that reflect the adoption and impact of the integration. The following KPIs will help gauge the effectiveness of our solution:
- Number of DAOs: We will track the number of DAOs that utilize the integration to create governance tokens. This metric will provide insights into the adoption rate and popularity of our solution among DAO creators on the Clarity Platform.
- Wallets Holding Governance Tokens: We will monitor the number of wallets that hold governance tokens created through the integration. This KPI will indicate the level of participation and engagement from token holders in DAOs utilizing our solution.
- User Feedback and Satisfaction: We will gather feedback from DAO creators and users who have utilized the integration. Conducting surveys or interviews, we will assess their satisfaction with the user experience, ease of token creation, and overall functionality. Positive feedback and high satisfaction rates will indicate the success of our project.
- Growth in Governance Token Activity: We will analyze the growth in governance token activity, such as voting participation, proposals submitted, and token holder engagement within the DAOs created through our integration. An increase in activity demonstrates the effectiveness of our solution in facilitating decentralized governance.
- Community Engagement: We will monitor the level of community engagement around the integration, such as the number of developers contributing to the integration's improvement, the size of the user community, and the frequency of discussions and collaborations related to the integration. Strong community engagement signifies the success of our project in generating interest and involvement from the ecosystem.
By tracking and analyzing these KPIs, we will be able to measure the success of our project objectively and make data-driven decisions to further enhance the integration and its impact on the Cardano ecosystem.
[IMPACT] Please describe your plans to share the outputs and results of your project?
To ensure transparency and share the outputs and results of our project, we have planned the following initiatives:
- Development Updates: We will regularly share progress updates, milestones achieved, and key insights from the project through various communication channels. This includes blog posts, social media updates, and newsletters to keep the community informed about the integration's development and implementation.
- Workshops: We will conduct workshops or webinars to educate the community about the integration and provide hands-on guidance on how to create governance tokens using the Clarity Platform and NMKR. These workshops will serve as an opportunity to engage with developers, DAO creators, and interested individuals, enabling them to understand the benefits and functionality of the integration.
- Co-marketing with NMKR: Collaborating with NMKR, we will engage in co-marketing efforts to promote the integration and its benefits to a wider audience. This may involve joint webinars, articles, and case studies showcasing successful use cases of the integration. By leveraging the collective reach and networks of both organizations, we can effectively communicate the value proposition and outcomes of the project.
- Community Engagement: We will actively engage with the Cardano and Clarity Platform communities through forums, social media platforms, and developer channels. By participating in discussions, addressing questions, and seeking feedback, we aim to foster a sense of collaboration, gather insights, and ensure that the outputs and results of our project are widely shared within the community.
- Documentation and Open-source Contributions: We will provide comprehensive documentation, including integration guides, API documentation, and code samples, ensuring that developers and users have access to clear and detailed resources. Additionally, we will actively contribute to open-source projects related to the integration, further sharing our expertise and progress with the wider developer community.
Through these initiatives, we aim to create a transparent and collaborative environment where the outputs and results of our project are openly shared, facilitating knowledge transfer, fostering adoption, and encouraging further innovation within the Cardano ecosystem.
[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?
Our team has a proven track record of delivering on proposals within the Cardano ecosystem, as demonstrated by our past participation and successful outcomes in Cardano Project Catalyst. We understand the significance of trust and accountability in executing projects, especially when it involves sensitive aspects such as DAO treasuries and staking.
Here's how our team ensures high levels of trust and accountability in project delivery:
- Experience and Expertise:
- Our team members possess extensive experience and expertise in their respective domains, including decentralized governance, smart contract development, UI/UX design, and Cardano ecosystem integration.
- We have a deep understanding of the underlying technology and best practices, enabling us to make informed decisions and deliver reliable solutions.
- Transparent Communication:
- We prioritize transparent and open communication with all stakeholders, including the Cardano community, DAO organizations, and project funders.
- We provide regular updates, progress reports, and hold interactive sessions to address questions, gather feedback, and ensure alignment with project goals.
- Commitment to Documentation:
- We recognize the importance of thorough documentation to maintain transparency and accountability.
- Our team produces comprehensive documentation, including technical specifications, user guides, and project reports, which are made available to stakeholders to review and verify the project's progress.
- Community Engagement:
- We actively engage with the Cardano community to foster trust and accountability.
- Through community meetups, forums, and social media channels, we encourage open dialogue, gather feedback, and incorporate community perspectives into our decision-making processes.
- Adherence to Best Practices and Standards:
- We follow industry best practices, adhere to established standards, and conduct thorough testing and security audits to ensure the reliability and robustness of our solutions.
- We prioritize the security of DAO treasuries and stake pool operations, implementing safeguards and risk mitigation strategies to protect funds and maintain trust.
- Past Success and References:
- Our successful track record in delivering on previous proposals in Cardano Project Catalyst serves as a testament to our ability to fulfill our commitments and achieve desired outcomes.
- We can provide references and testimonials from previous collaborators, stakeholders, and community members to vouch for our trustworthiness and accountability.
By combining our experience, transparent communication, documentation practices, community engagement, adherence to standards, and past successes, we are confident in our capability to deliver the proposed project with high levels of trust and accountability.
[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?
The main goals of the project are as follows:
- Simplify Token Creation: The primary goal is to create a user-friendly and streamlined process for DAO creators to generate governance tokens on the Clarity Platform. By focusing on simplicity and ease of use, we aim to lower the barriers to entry and make token creation accessible to a wider range of users.
- Integration Compatibility: Another goal is to ensure seamless integration between the Clarity Platform and NMKR APIs. We will validate the feasibility of this approach by conducting thorough technical assessments and compatibility tests to confirm that the two systems can work together effectively, enabling smooth token creation and governance functionality.
- User Adoption and Satisfaction: It is essential to validate the feasibility of our approach by assessing the adoption and satisfaction levels of users. We will gather feedback from DAO creators who utilize the integration and evaluate their experience in creating governance tokens. Positive user feedback, high adoption rates, and increased participation in decentralized governance will indicate the feasibility and success of our approach.
- Scalability and Performance: As the project progresses, we will validate the feasibility of our approach by monitoring the scalability and performance of the integrated solution. Rigorous testing will be conducted to ensure that the token creation process remains efficient and robust, even with increased demand and usage.
- Community Support and Engagement: The feasibility of our approach will be validated through community support and engagement. Active participation, contributions, and positive reception from the Cardano and Clarity Platform communities will indicate that our approach resonates with stakeholders and aligns with their needs and expectations.
To validate the feasibility of our approach, we will conduct research, collaborate with technical experts, and leverage user feedback to continuously iterate and improve the integration. Regular assessments, testing, and feedback analysis will allow us to measure progress, make necessary adjustments, and ensure that our approach remains feasible, effective, and aligned with the goals of the project.
[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.
Milestone 1: Discuss Strategy of Implementation with NMKR Team:
- Task: Initiate discussions with the NMKR team to align on the integration goals, requirements, and technical feasibility.
- Timeline: 2 weeks
Milestone 2: Plan and Scope Out Integration Technically:
- Task: Collaborate with NMKR to define the technical specifications, API integration points, and data exchange mechanisms.
- Timeline: 3 weeks
Milestone 3: Build Front End integration:
- Task: Develop a user-friendly interface on the Clarity Platform that enables DAO creators to configure and customize governance tokens using the NMKR integration.
- Timeline: 6 weeks
Milestone 4: Testing:
- Task: Conduct comprehensive testing to ensure the seamless interaction between the Clarity Platform and NMKR integration, validating token creation, distribution mechanisms, and governance functionality.
- Timeline: 4 weeks
Milestone 5: Workshops and Release:
- Task: Organize workshops or webinars to educate the community about the integration, gather feedback, and provide hands-on guidance on token creation. Finalize any remaining development tasks and prepare for the official release of the integration.
- Timeline: 2 weeks
[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.
Milestone 1: Discuss Strategy of Implementation with NMKR Team:
- Deliverables: Meeting notes, collaboration agreement, and shared understanding of integration goals and requirements.
- Outputs: Defined integration strategy, identification of key integration points, and initial project plan.
- Intended Outcome: Alignment between the project team and NMKR on the integration approach and a clear roadmap for moving forward.
Milestone 2: Plan and Scope Out Integration Technically:
- Deliverables: Technical documentation, API specifications, and integration plan.
- Outputs: Detailed technical requirements, clear scope of work, and identified dependencies.
- Intended Outcome: A well-defined technical plan that outlines the integration process and sets the foundation for seamless integration between the Clarity Platform and NMKR.
Milestone 3: Build Front End:
- Deliverables: User interface design, functional front-end code, and documentation.
- Outputs: User-friendly interface on the Clarity Platform for governance token creation, integration with NMKR APIs, and customizable token parameters.
- Intended Outcome: A visually appealing and intuitive user interface that simplifies the process of governance token creation, fostering user adoption and engagement.
Milestone 4: Testing:
- Deliverables: Test plans, test cases, and test results documentation.
- Outputs: Identified and resolved integration issues, validated functionality, and smooth interaction between the Clarity Platform and NMKR integration.
- Intended Outcome: A thoroughly tested integration that ensures the seamless creation and management of governance tokens, ensuring reliability and security.
Milestone 5: Workshops and Release:
- Deliverables: Workshop materials, documentation, and the final release of the integrated solution.
- Outputs: Conducted workshops/webinars, gathering user feedback, and final integration deployment.
- Intended Outcome: Increased awareness, user engagement, and adoption of the integrated solution, enabling DAO creators to easily launch governance tokens. Successful release and dissemination of the integration within the community.
It is important to note that each milestone's deliverables, outputs, and intended outcomes are interconnected, contributing to the overall success of the project. They form a cohesive progression towards achieving the goal of a streamlined integration between the Clarity Platform and NMKR, making governance token creation accessible and user-friendly for DAO creators.
[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.
30,000 ADA (ADA at 0.28 USD about 8,400 USD)
Projected time to complete: 140 hours (60 USD per hour)
Planning and technical feasibility research: 20 Hours
Front End Development: 30 Hours
API Integration Development: 30 Hours
Testing: 30 Hours
Documentation and Marketing: 30 hours
TOTAL 140 Hours to complete
[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?
The cost of the project represents value for money for the Cardano ecosystem in several ways:
- Increased Adoption: By investing in the integration between the Clarity Platform and NMKR, the project aims to lower the barriers to entry for DAO creators. This will encourage more individuals and organizations to adopt the Cardano ecosystem for their decentralized governance needs. The increased adoption will contribute to a larger and more active community, fostering innovation, collaboration, and the development of a robust ecosystem.
- Accessibility and Inclusivity: The project's cost will be justified by the value it brings in terms of accessibility and inclusivity. By creating a user-friendly and simplified process for governance token creation, even non-technical users can participate in decentralized governance. This inclusivity will attract a diverse range of participants, promoting decentralization and representing value for money by expanding the reach of the Cardano ecosystem.
- Enhanced Governance Functionality: The integration with NMKR will enable DAO creators to establish governance tokens with the correct properties for interacting with the Clarity Protocol. This will enhance the governance functionality and effectiveness of DAOs on the Clarity Platform. Improved governance processes and robust tokenomics will attract more participants, foster transparency, and ensure the long-term success of DAOs, providing value for money in terms of efficient governance mechanisms.
- Ecosystem Synergy: The cost of the project will represent value for money by creating synergies within the Cardano ecosystem. Integrating with NMKR APIs will leverage the strengths of both platforms, combining tokenization capabilities with the power of Clarity smart contracts. This integration will facilitate the seamless interaction between different components of the ecosystem, unlocking new use cases, collaborations, and opportunities for innovation.
- Long-Term Growth and Sustainability: The investment in the project will contribute to the long-term growth and sustainability of the Cardano ecosystem. By enabling DAO creators to easily launch governance tokens, the project supports the creation of vibrant and active communities around DAOs. This fosters a sustainable ecosystem with robust governance structures, attracting further investments, partnerships, and opportunities.
The cost of the project represents value for money for the Cardano ecosystem by driving increased adoption, enhancing accessibility and inclusivity, improving governance functionality, creating ecosystem synergy, and fostering long-term growth and sustainability. It lays the foundation for a thriving ecosystem that provides value to its participants and stakeholders.
[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.