Empowering Koios: Cultivating a Self-Sustaining Infrastructure Through Strategic Incentives

[GENERAL] Name and surname of main applicant

[GENERAL] Email address of main applicant

Additional applicants

Michael

Boris

Greg

Ola

Priyank

[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.” .

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 is to establish a tokenomics model using KOIOS tokens to create a self-sustaining environment for Koios. This strategy will reward Koios node hosting, supporting decentralization and the long-term viability of the Koios infrastructure.

We see the issue as a lack of incentives for individuals to host Koios nodes, which is critical for the infrastructure's decentralization and robustness. We hope to overcome this issue and encourage more individuals to contribute to the Koios ecosystem by giving KOIOS tokens as an incentive for hosting nodes.

Our approach is unusual in that it uses tokenomics to solve a major infrastructure problem. It not only encourages node hosting, but it also establishes a circular economy within the Koios ecosystem, where the tokens gained may be used to pay for the Koios API service. This strategy secures the long-term viability of the Koios infrastructure without relying on outside finance.

The key beneficiaries of this approach will be the Koios node hosts, who will be compensated for their efforts, and the Koios API service customers, who will benefit from a more resilient and decentralized infrastructure.

Cardano values this solution because it boosts the infrastructure of one of its core projects, Koios, making it more resilient and sustainable. It also demonstrates the potential of tokenomics in addressing infrastructure concerns, which might be used for future Cardano projects.

We will track the number of additional Koios nodes hosted, the use of KOIOS tokens within the ecosystem, and the general performance and stability of the Koios infrastructure to determine the success of our solution.

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

Our proposed solution tackles the issue of developing a self-sustaining infrastructure for Koios. We reward the hosting of Koios nodes by introducing a tokenomics paradigm, which is critical for sustaining a resilient, decentralized infrastructure. This strategy not only protects Koios' long-term survival, but also supports its expansion by drawing new members to the ecosystem.

This project's impact on the Cardano ecosystem goes beyond simply sponsoring the project team. It adds tremendous value by fortifying the infrastructure of Koios, a critical initiative in the Cardano ecosystem. A more resilient and decentralized Koios infrastructure will improve the dependability of its services, helping all projects that rely on it.

In terms of quantifiable impact, we anticipate an increase in the number of Koios nodes hosted as a result of the KOIOS token incentives. This will have an immediate impact on the decentralization and resilience of the Koios infrastructure. We also anticipate increased adoption of the Koios API service as the infrastructure improves in reliability and robustness.

In addition, the introduction of KOIOS tokens introduces a new dynamism to the Cardano ecosystem. It demonstrates the power of tokenomics in addressing infrastructure concerns and could serve as a model for future projects in the ecosystem. As a result, this project not only strengthens Koios but also contributes to the Cardano ecosystem's overall growth and innovation.

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

Our project's success will be judged using both quantitative and qualitative indicators.

We shall quantify the following:

1. The number of KOIOS tokens that have been produced and are being used for the Koios API service. This will show the amount of involvement and utilization of the Koios infrastructure.
2. The number of Koios nodes hosted has increased. This will immediately reflect our incentive model's effectiveness in fostering decentralization.
3. Transaction and interaction volume using the Koios API service. This will demonstrate the infrastructure's robustness and dependability.

We will collect qualitative feedback from the Koios API service community and users. This will provide insights on the user experience, the perceived value of the KOIOS tokens, and our project's overall impact on the Cardano ecosystem.

In the short term, our innovation will strengthen the resilience and dependability of the Koios infrastructure, increasing the productivity of all projects that rely on it. In the long run, by developing a self-sustaining model, we ensure that Koios continue to grow and evolve, contributing to the general growth and resilience of the Cardano ecosystem.

Given the strategic incentives we're adding and the potential of tokenomics in fostering engagement and decentralization, we feel these objectives are achievable.

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

The outputs and achievements of our initiative will be shared openly and transparently with the Cardano community and the general public. All of our developments, including the minting and use of KOIOS tokens, will be documented and made available on our GitHub repository as an open-source project. We will also provide progress updates on Cardano forums and social media channels on a regular basis in order to engage with the community and gain feedback.

In terms of disseminating the project's outputs, we intend to:

• Hold regular community meetings and webinars to discuss our progress, issues, and goals for the future.
• Create blog posts and articles that detail our project's milestones, accomplishments, and influence.
• Collaborate with other Cardano initiatives and stakeholders to demonstrate the benefit of the Koios infrastructure and KOIOS tokens.

The outcomes of this initiative will be critical in guiding our future research and development efforts.

We will examine KOIOS token consumption patterns, the increase in the number of Koios nodes, and community input to find areas for improvement and new prospects. This will allow us to constantly innovate and improve the Koios infrastructure, making it more robust, dependable, and useful to the Cardano community.

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

Our team consists of seasoned developers and blockchain enthusiasts with a track record of success in the Cardano ecosystem. We delivered the Koios project, an open-source, decentralized API for Cardano, successfully, showcasing our technical skill and dedication to the Cardano community. Our team members have vast experience in system design, DevOps, system administration, networking, and software development, allowing us to deliver this project effectively.

We have always maintained a high level of transparency in our operations in terms of trust and accountability. Because all of our work is open-source and publicly accessible, anyone may verify and validate our progress. We communicate with the community about our work on a regular basis via numerous channels, including GitHub, Cardano forums, and social media platforms.

We follow strict financial management methods when it comes to managing funds. We have a clear financial plan for the project, and we make certain that every expense is justified and matches with the project's goals. We also intend to give the community frequent financial updates that outline how the monies are being used.

Furthermore, we recognize the significance of community interaction in a decentralized ecosystem like Cardano. As a result, we are committed to incorporating the community in our decision-making processes, soliciting feedback, and responding to any issues in a timely and transparent manner. This strategy not only ensures responsibility, but also assists us in developing a project that actually satisfies the Cardano community's requirements.

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

The following are the primary objectives of our project "Empowering Koios: Cultivating a Self-Sustaining Infrastructure Through Strategic Incentives":

1. Create and deploy a tokenomics model for the Koios ecosystem that rewards contributors while ensuring self-sufficiency. This covers the development of the KOIOS coin as well as the implementation of a reward distribution mechanism.
2. Increase the number of active nodes in the Koios network, strengthening the infrastructure's robustness and decentralization. Within a year of the project's execution, we want to have doubled the number of active nodes.
3. Create a lively and engaged community around Koios. This includes encouraging community contributions to the project and increasing user involvement with the Koios API.

We will utilize a combination of quantitative and qualitative measurements to validate the feasibility of our strategy. The successful production of the KOIOS token and the establishment of a functioning reward distribution mechanism will serve as unambiguous evidence of success for the first goal.

We can track the number of active nodes in the Koios network over time to achieve the second goal. For the third purpose, we will track user contact with the Koios API as well as the amount of community engagement, which includes project contributions and participation in community debates.

Our team has vast blockchain programming knowledge and successfully completed the inaugural Koios project. We are confident in our capacity to put the proposed tokenomics concept into action and create a self-sustaining ecosystem around Koios. We also recognize the value of community involvement in a decentralized environment and are dedicated to involving the Cardano community in our 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.

Our project "Empowering Koios: Cultivating a Self-Sustaining Infrastructure Through Strategic Incentives" will be implemented in the following stages:

Milestone 1: Development of the Tokenomics Model (2 months)

• Task 1.1: Research and design of the tokenomics model for the KOIOS token.
• Task 1.2: Development of the for the KOIOS token.
• Task 1.3: Testing and deployment of the KOIOS token.
• Success Criteria: Successful deployment of the KOIOS token and validation of its functionality.

Milestone 2: Establishment of the Reward Distribution Mechanism (2 months)

• Task 2.1: Development of the script (or smart contract) for the reward distribution mechanism.
• Task 2.2: Testing and deployment of the reward distribution.
• Task 2.3: Integration of the reward distribution mechanism with the existing Koios infrastructure.
• Success Criteria: Successful deployment of the reward distribution and its successful integration with the Koios infrastructure.

Milestone 3: Community Engagement and Growth (Ongoing)

• Task 3.1: Development and implementation of a community engagement strategy.
• Task 3.2: Regular updates to the community about the project's progress.
• Task 3.3: Encouragement of community contributions to the project.
• Success Criteria: Increase in user interaction with the Koios API, increase in community contributions to the project, and growth in the number of active nodes in the Koios network.

The project will be handled using agile project management approaches, with regular check-ins and updates to ensure that everything is going according to plan. We will also have open lines of communication with the Cardano community to keep them updated on project development and to solicit comments and contributions.

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

Milestone 1: Development of the Tokenomics Model

Deliverables: A detailed tokenomics model for the KOIOS token, as well as a fully running KOIOS token smart contract.

Outputs: The KOIOS token will be printed and distributed. The tokenomics model will be described and made available to the public.

Intended Outcomes: The development of the KOIOS token will motivate users to host nodes and participate in the Koios network, resulting in improved decentralization and network resiliency.

Progress Measurement: We will track the successful deployment of the KOIOS token smart contract as well as the quantity of tokens produced.

Milestone 2: Establishment of the Reward Distribution Mechanism

Deliverables: A smart contract that integrates the incentive distribution mechanism with the existing Koios infrastructure.

Outputs: The incentive distribution mechanism will be operational, allowing KOIOS tokens to be distributed to users who run nodes and contribute to the network.

Intended Outcomes: The incentive distribution system will encourage more users to run nodes and contribute to the network, resulting to the Koios network's further expansion and decentralization.

Progress Measurement: We will keep track of the reward distribution smart contract's successful deployment and integration, as well as the number of incentives issued to users.

Milestone 3: Community Engagement and Growth

Deliverables: A complete community engagement plan, as well as regular project updates to the community.

Outputs: Enhanced community participation and contributions to the project.

Intended Outcomes: Increased user involvement with the Koios API and growth of the Koios community.

We will track the number of active nodes in the Koios network, the level of user interaction with the Koios API, and the number of community contributions to the project to gauge progress.

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

Our budget breakdown for the project is as follows:

Milestone 1: Development of the Tokenomics Model

• Smart Contract Development: 20,000 ADA
• Tokenomics Model Development: 5,000 ADA
• Testing and Auditing: 5,000 ADA

Milestone 2: Establishment of the Reward Distribution Mechanism

• Smart Contract Development: 15,000 ADA
• Integration with Existing Infrastructure: 5,000 ADA
• Testing and Auditing: 5,000 ADA

Milestone 3: Community Engagement and Growth

• Community Engagement Strategy Development: 3,000 ADA
• Community Management and Support: 5,000 ADA
• Marketing and Promotion: 7,000 ADA

Project Management and Documentation

• Project Management: 10,000 ADA
• Documentation: 5,000 ADA

Total: 70,000 ADA

The Cardano blockchain will be used for the development and deployment of our smart contracts. The smart contracts will be developed, tested, and audited by the project team. We will also maintain the project and interact with the community on our own, eliminating the need for third-party services.

The budget was established using the industry's average rates for smart contract development, project management, and community participation. This budget, we believe, is realistic and will enable us to create a high-quality project that will provide considerable value to the Cardano ecosystem.

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

Our project's cost represents significant value for money for the Cardano ecosystem for various reasons:

Efficient Resource Allocation: Our budget is precisely managed to guarantee that every ADA spent directly contributes to the success of the project. We've budgeted for critical components including smart contract development, testing, auditing, community participation, and project management to ensure a thorough approach.

Long-Term Sustainability: The project's goal is to make Koios self-sustaining, eliminating the need for ongoing support. We're building a system that incentivizes participation and stimulates growth by incorporating a tokenomics model and a reward distribution mechanism, resulting in a more robust and resilient ecosystem.

Community Development: By providing users with the opportunity to participate in a decentralized AI marketplace, our project will draw additional users to the Cardano ecosystem. This increase in user base will enhance utilization of Cardano's blockchain, increasing the ecosystem's value.

All of our development effort will be open-source, allowing others in the Cardano community to learn from it, copy it, and even improve on it. This pooling of information and resources improves the value we provide for the price.

Cardano's Utility is Increased: By implementing a ChatGPT plugin for Koios on the Cardano blockchain, we are increasing the utility and functionality of the Cardano ecosystem, making it more desirable to both developers and consumers.

To summarize, while the initial investment may appear high, the long-term advantages, sustainability, and development that our initiative will offer to the Cardano ecosystem represent outstanding value for money.

[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.