Dex aggregator API to facilitate NFT minting and trading with most native and non native fungible assets

[GENERAL] Name and surname of main applicant

Randall D'Souza

[GENERAL] Email address of main applicant

dsouzarandall2509@gmail.com

Additional applicants

Naeri Adam Fernandez

Nicolas Hayvice-Caballe

Eric Tsai

Audie Martin

Derek Thomson

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

8

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[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.”

We will use the NFT Maker API as a base layer to pair the aggregator function onto it in the first instance.

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”

Specifically the dex aggregation tool is what we intend to build and hope to operate in a contractual fashion. This will not be made open source.

[METADATA] Category of proposal

DeFi

[METADATA] SDG rating

SDG goals:

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

SDG subgoals:

Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors

Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

Key Performance Indicator (KPI):

Proportion of informal employment in total employment, by sector and sex

Annual growth rate of real GDP per employed person

Universal Human Rights Index (UHRI):

#proposertoolsdg

[IMPACT] Please describe your proposed solution.

Our solution is to add utility to all fungible assets on the Cardano blockchain with >100k ADA TVL and also non ADA currencies with greater than >$200m market cap. The number of currencies that promise utility but deliver none, show a perfect opportunity to convert tokens back to ADA while bringing out of chain tokens to bring value to ADA.

The lack of competition in the marketplace space is stifling and the NEED for competition is OVERWHELMINGLY obvious. We intend to use the wealth of already supported tokens to rapidly build use cases for volume in the space. To do this adding utility to many tokens will be critical.

Many in the space have become illiquid and unable to continue moving NFTs and volumes and the best way to stimulate this movement is the add use cases to the many FTs that are already available to us. By further expanding to off chain currencies we will see a flux of new users to the Cardano ecosystem both those who trade/collect NFTs but also those end users looking to store digital documents on the blockchain.

We will measure success not only by profits and volume but by functional end goals i.e. once the product is live we believe this is a huge step forward in breaking down interoperability barriers. Further, all profits will be collected in ADA and therefore value will be converged to Cardano. We aim also to offer profit sharing models with holders of the Trifecta NFT pieces (Elysium Titans, Secret Bulls Society and Non Fungible Devils). Two of these are rugged projects that we intend to rescue while minimizing the need to focus on additional NFT mints. All three projects were minted on the NFT Maker platform.

The drawcard to our solution is that all fungible asset real time value will be linked to dexes meaning transacting for various use-cases will take advantage of slippage and therefore move fluidly with real time token values.

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

This solution will open doors to serious interoperability both within the native asset space in the Cardano ecosystem while letting new users participate with non native assets such as ETH or ERC-20 tokens.

This will be the first broad scale converter to allow some of the true access points of the Cardano vision to be realized. To quantify success is extremely difficult since we intend to then contractually source the aggregator to other projects and users. With the right push and market attention this could attract >1000 transactions per day. By offering this new use case to other projects we do not know the possible scale to which this could become used.

[IMPACT] How do you intend to measure the success of your project?

We will measure the following specific outcomes as indicators of progress:

1) A functioning product will be the first acceptance of the success.

2) We will further measure levels of engagement from our socials accounts and the tool utilization itself.

3) We will follow monthly transactions, both number and volumes, for the first six months following project completion to get a gauge on uptake. These results will also indicate whether we need a bigger marketing budget to help achieve the kind of success we think we can.

4) During alpha, beta and live phases we will take feedback and continually upgrade our ability to ensure consumers have a smooth experience.

In the short term we expect the hype to drive an increase in internal volumes of Cardano users but in the long term we strongly believe new users will be onboarded to increase the size of the active community.

[IMPACT] Please describe your plans to share the outputs and results of your project?

We intend to share our development journey along every step of the way. The primary community to integrate with will be the Trifecta NFT holders who will participate in the alpha and beta test net development phases.

We will also host monthly twitter spaces to disseminate our progress and take feedback from open communities whilst constantly seeking partnerships to increase the utility of the aggregator function. We will produce detailed written documents mapping out the ongoing project progression on our website and discord channels.

We strongly believe that Cardano is a blockchain of collaboration and innovation powered by community. In this regard we will constantly review community feedback to ensure premium user experiences while integrating the planned solution deep into the very structure of Cardano. By incentivizing our base NFTs we will also add value to two previously rugged NFT projects while increasing the ability for NFT enthusiast to continue collecting them.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

The Trifecta is a newly formed alliance of three NFT projects (Elysium Titans, Secret Bulls Society and Non Fungible Devils). We have already had our own smart contract NFT market place which we tested for three months. While it worked perfectly the limited funds we were working with forced us to pause it. We take pride in our:

1) Professionalism: We have managed to pull in a highly dedicated core community and have successfully built high quality end user products - an example is nftmoments.com

2) Breakthrough technologies: We have alpha tested a tokengated arcade system that allows players to interact with old school arcade games IF they hold the eligible NFTs

3) Passion: We constantly seek partnerships and work hard to get seen. While the whole team currently holds down real world jobs we work extremely hard to ensure we can contribute to not only our communities but to the development of the blockchain as well.

4) Transparency: We have members from the community who constantly provide feedback on our operations and ensure we are building in a manner that puts people in front of ourselves.

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

Our main goals are to:

1) Bridge the gap between ADA and native assets by building a trading route for NFTs with all Native assets.

2) Allow integration of non ADA native assets to trade ADA related NFTs through set trading pairs to allow ease of access and more onboarding to Cardano.

[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.

1) Build aggregator API for all ADA related assets (>100k ADA TVL) and apply to our existing end user nft-minting service (0-2 months). This will cost $5,000.

2) Begin applying the API to the NFT Maker APIs and existing services offered by NFT Maker and contracting API use to other projects and Cardano ecosystem services (2-4months). This will cost $2500.

3) Continue developing real time convertor for cross chain token transactions to allow ADA related utility in non native assets to promote rapid interoperability. (4-7 months). This will cost $10000.

4) We have a de-activated market place that we have already tested and intend to apply this API to it as the next step. (7-8 months). This will cost $4000.

Total Requested budget = $21,500 (75k $ADA)

With each launch there will be an alpha and beta testing phase between our NFT holder community to ensure quality and user experience meets individual standards. We will constantly use feedback to ensure UI/UX is as simple yet smooth as possible.

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Step1: Native asset aggregator API on https://nft-moments.com

• Build and deliver a full working API linked to major Cardano dexes to integrate all native assets with >100k ADA TVL.
• Provide a written document to clearly indicate the point of this product and how it works.
• Market clearly the potential of this tool in the general market and how much of a 'fee' will be charged per transaction to ensure low cost for use.
• Begin tracking volume and productivity of the tool

Step 2: Apply API to NFT Maker APIs and also other third party project/website users

• Ensure minters on NFT Maker can openly this use of this API for all project and personal NFT mints
• Provide projects with agreements about how the API will work and how they can access it.
• Overcome the fragmented nature of the NFT space whereby people with any fungible asset can re-enter NFT mints but also propagate a united front within the Cardano NFT ecosystem.
• Track progress of transactions on all added platforms to begin adding value to NFT holders but also to users create a possible giveback option if uptake hits out expectations.

Step 3: Expand the tool to incorporate currencies outside of Cardano

• Deliver and test working API for ERC-20 and other non native assets to allow incorporation to all use cases where the API is applied.
• Provide new documentation to incorporate fee structure for native vs non-native transactions.
• Create a tool for widespread use while building a open use cases within the Cardano ecosystem while producing cross chain intra-operability. We also forecast volumes from other chains becoming locked into Cardano due to this tool.

Step 4: Restart NFT market place

• We already have a working and tested smart contract NFT-marketplace with lower fees than most operating Cardano marketplaces (0.5%) which we have currently deactivated due to inability to meet operating costs.
• We will apply this API to the marketplace to allow native asset and cross chain transactions to rapidly increase use cases for the API.

The steps will be used as deliverable checkpoints to ensure we are progressing in a desirable fashion. We will also pair each deliverable with a community test event to clear market the achievement of each step.

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

Step 1: $5000.

$2500 backend dev to build dex aggregator

$750x2 for 2 front-end devs to ensure user experience is smooth

$1000 for software licenses and required research

Step 2: $2500

$1500 dev to apply API contractually to third party use and to NFT MAKER API

$500 for tool upgrade and upkeep

$500 software tools to ensure API application to different 3rd party use cases

Step 3: $10000

$3750x2 for back end dex to build code tools for the cross chain converters

$1000 for licensing tools

$1500 for front end dev finalize user experience

Step 4: $4000

$3000 for dev to upgrade existing marketplace to incorporate all NFT Maker minted NFTs

$1000 maintenance costs to keep marketplace running on new API.

Please not the prices of these services may change slightly and we will use either other grants or other cashflow options to try bridge the gap in the event we exceed our planned costs.

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The current project highlights a value for money proposition in the Cardano ecosystem and specifically the NFT environment for several reasons.

• Immediate liquidity: Adding utility to the many fungible assets on the blockchain instantly add value to be base asset that is ADA but also creates more volume in Cardano Defi.

• Interoperability and onboarding: Allowing access to ADA ecosystem purchases in non native assets eliminates the blockchain barrier allowing ease of access for new investors and players into the wider Cardano ecosystem

• Usability: The planned product is something that is desperately needed in the space to give people more control over their assets while simplifying the conversion process by removing the need to access dexes and adding extra transaction costs.

• Long term growth: Allowing the API to be incorporated as a plug-in or plug-on in existing ADA based services creates a simple solution for maximizing the rapid pay-off potential but also creating both a true use case service while promoting onboarding to the Cardano ecosystem.

This value for money assessment is based on already conducted research by the team to factor in pays and required software licensing to develop the outline product. We have compared these prices with contract developer costs and found a similar price for the outline API. Furthermore being a team of individuals who know each other personally we are able to ensure an excellent balance between cost-effectiveness and a functioning high-quality product.

[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.

I Accept