AdaWealth: Permissionless Fund Creation and Investment on Cardano

[GENERAL] Name and surname of main applicant

Thái Ngô

[GENERAL] Email address of main applicant

ngoluuduythai37@gmail.com

Additional applicants

Dao Cuong, Em Nguyễn , Hung Le Thanh, Son Nguyen , Tuong Tran, Vinh Doan, Tri Nguyen, Tuan Nguyen

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

12

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

Yes

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

No

[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?

Yes

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

The project will be fully open source.

[METADATA] Category of proposal

DeFi

[IMPACT] Please describe your proposed solution.

AdaWealth is a non-custodial digital asset management platform that allows users to create or invest in funds on Cardano while keeping full custody of their investments.

The platform is unique in that it is the first non-custodial DeFi platform on Cardano. This means that users retain full control of their funds at all times, and they are not subject to the risks associated with centralized platforms.

Managers can:

• Trade on-chain using Indigo
• Swap on-chain using Wingranger DEX and MIN SWAP
• Earn performance fees from investors

Investors can:

• Freely invest into or withdraw from any AdaWealth fund at any time.
• Have more experienced traders manage their capital and risk.
• Base investment decisions on detailed historical metrics across all funds.

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

AdaWealth is important to Cardano because it can help to grow the Cardano ecosystem. By making it easier for users to manage their Cardano investments, AdaWealth can attract new users to the Cardano ecosystem.

We believe that AdaWealth has the potential to make a significant impact on the Cardano ecosystem. We are committed to building a platform that is secure, reliable, and user-friendly. We believe that AdaWealth can help to make Cardano the leading platform for DeFi.

Here are some specific examples of how AdaWealth will demonstrate or prove its impact:

• We will track the number of users who create or invest in funds on the platform.
• We will track the amount of Cardano that is managed on the platform.

We believe that these metrics will demonstrate the impact of AdaWealth on the Cardano ecosystem.

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

1. Adoption and Engagement

• Number of users who create or invest in funds on the platform. This is a good measure of the number of people who are using AdaWealth and the level of engagement they are having with the platform.
• Amount of Cardano that is managed on the platform. This is a measure of the value of the assets that are being managed on AdaWealth.
• Number of transactions on the platform. This is a measure of the activity that is happening on AdaWealth.
• Level of community engagement. This can be measured by tracking the number of active discussions, contributions, and collaborations related to AdaWealth.
• User feedback and opinions. This can be gathered through surveys, interviews, and other methods.

2. Liquidity and Market Impact

• Total value locked (TVL) on the platform. This is a measure of the amount of assets that are staked on AdaWealth.
• Growth in liquidity within the Cardano ecosystem. This can be measured by tracking the volume of Cardano that is being traded on AdaWealth and other Cardano DeFi platforms.
• Impact on trading volumes, market depth, and overall market activity. This can be measured by tracking the volume of Cardano that is being traded on centralized exchanges and other DeFi platforms.
• Growth in the number of assets available for staking. This can be measured by tracking the number of Cardano-based tokens and assets that are supported by AdaWealth.

3. Ecosystem Growth and Development

• Number of projects that are leveraging AdaWealth to incentivize participation, liquidity provision, and engagement. This is a measure of the impact that AdaWealth is having on the Cardano DeFi ecosystem.
• Growth of the Cardano DeFi ecosystem in terms of the number and variety of projects utilizing the platform. This can be measured by tracking the number of new projects that are launching on Cardano and the variety of DeFi products and services that are available.
• Number of new users attracted to the Cardano ecosystem as a result of AdaWealth. This is a measure of the impact that AdaWealth is having on the growth of the Cardano ecosystem.
• Testimonials or qualitative feedback from users, projects, and community members. This can be gathered through surveys, interviews, and other methods.

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

To share the outputs and results of the project, the following plans can be implemented:

• Publish white papers, blog posts, and other technical documentation. This will help to educate the community about the project and its potential benefits.
• Present at conferences and meetups. This will give us the opportunity to share our findings with a wider audience.
• Collaborate with other projects in the Cardano ecosystem. This will help to promote the adoption of AdaWealth and its integration with other DeFi products and services.
• Create a user forum or community chat. This will provide a space for users to ask questions, share feedback, and collaborate with each other.
• Release the source code under an open-source license. This will allow other developers to build on our work and contribute to the project.

We plan to spread the project's outputs over a reasonable timescale by gradually releasing new features and updates. We will also work to promote the project through social media, online channels, and other means.

We will share the outputs/impact and opportunities that will arise as a result of our completed project with the following groups:

• The Cardano community. We will share our findings with the Cardano community through blog posts, presentations, and other channels.
• DeFi developers. We will work with DeFi developers to integrate AdaWealth with other DeFi products and services.
• Researchers. We will share our findings with researchers to help them to understand the potential of AdaWealth and its impact on the Cardano ecosystem.

We expect to use the results generated from the project in further research and development activities. We will also use the results to improve the AdaWealth platform and make it even more user-friendly and secure.

We believe that the AdaWealth project has the potential to make a significant impact on the Cardano ecosystem. We are committed to sharing the outputs and results of the project with the community and working to promote its adoption.

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

• Experience: we have over 10 years of experience in the software industry, and I have worked on a variety of projects that require high levels of trust and accountability.

• Skills: we have a deep understanding of the Cardano blockchain. We are also skilled communicators, and able to build trust and rapport with project stakeholders.
• Processes: We have a well-defined process for managing funds properly. This process includes creating a budget, tracking expenses, approving and disbursing funds, and conducting regular audits.
• Team: We have a team of experienced developers who are committed to delivering the project on time and within budget. The team has a proven track record of success, and they are all committed to high levels of trust and accountability.
• Communication: We are a good communicator, and able to keep project stakeholders informed of the project's progress. I am also able to answer any questions that stakeholders may have.

Steps or Processes that Demonstrate that We Can Be Trusted to Manage Funds Properly:

• Establish a clear and transparent funding process. This will ensure that everyone involved in the project knows how funds will be managed.
• Create a budget for the project and track expenses closely. This will help to ensure that funds are used efficiently.
• Set up a system for approving and disbursing funds. This will help to ensure that funds are only used for authorized purposes.
• Implement regular audits of the project's finances. This will help to ensure that funds are being managed properly.

We believe that our experience, skills, processes, team, and communication skills demonstrate that we are capable of delivering this project with high levels of trust and accountability. We are confident that I can build a successful project that will benefit the Cardano ecosystem.

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

Project Goals

The main goals for the project "AdaWealth" are to:

• Create a non-custodial digital asset management platform on Cardano.
• Allow users to create or invest in funds on the platform while keeping full custody of their investments.
• Provide users with a user-friendly and secure platform to manage their Cardano investments.
• Make Cardano more accessible to the wider community by providing a platform for users to manage their Cardano investments.

Feasibility

The feasibility of the project "AdaWealth" can be assessed by conducting a feasibility study. A feasibility study will help to assess the technical, financial, and market feasibility of the project.

The technical feasibility of the project can be assessed by evaluating the following factors:

• The availability of developers with experience in Cardano development
• The level of security and privacy that can be achieved on the platform

The financial feasibility of the project can be assessed by evaluating the following factors:

• The cost of development and maintenance of the platform
• The potential revenue streams from the platform
• The level of demand for the platform

The market feasibility of the project can be assessed by evaluating the following factors:

• The size of the Cardano community
• The level of interest in DeFi platforms
• The level of competition in the DeFi space

Implementation

The project "AdaWealth" will be implemented using the following steps:

1. Conduct a feasibility study to assess the technical, financial, and market feasibility of the project.
2. Build a prototype of the platform to test the feasibility of the approach.
3. Get feedback from potential users to validate the demand for the product.
4. Conduct a market analysis to assess the competitive landscape.
5. Develop the platform based on feedback and analysis.
6. Launch the platform and start marketing it to the Cardano community.

[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: Conduct a Feasibility Study

• Tasks:
• Identify the technical, financial, and market feasibility of the project.
• Conduct a market analysis to assess the competitive landscape.
• Get feedback from potential users to validate the demand for the product.
• Timeline:
• 1 month
• Success Criteria:
• A feasibility report that outlines the technical, financial, and market feasibility of the project.
• A market analysis report that assesses the competitive landscape.
• Feedback from potential users validates the demand for the product.
• Cost: 13900 ADA

Milestone 2: Build a Prototype

• Tasks:
• Build a working prototype of the platform.
• Test the prototype with potential users to get feedback.
• Make changes to the prototype based on the feedback.
• Timeline:
• 3 months
• Success Criteria:
• A working prototype of the platform that is user-friendly and secure.
• Feedback from potential users validates the design and functionality of the platform.
• Basic Contract Create and Manager Fund, Swap Permission
• Basic Frontend Prototype
• Cost:
• 17089 ADA

Milestone 3: Develop the Platform

• Tasks:
• Develop the platform based on the feedback from the prototype.
• Develop a smart contract that will be used to manage the funds on the platform.
• Test the platform with a wider range of users.
• Timeline:
• 3 months
• Success Criteria:
• A fully developed platform that is user-friendly, secure, and integrated with smart contracts.
• Feedback from users that validates the functionality of the platform.
• Developed Full Contract need for fund management: swap, trading, voting, and withdrawing funds.
• Complete frontend parts: Report Performance of Fund, ROI, News, and Articles from Fun manager, Portfolio of Investor Account
• Cost:
• 30000 ADA

Milestone 4: Launch the Platform

• Tasks:
• Launch the platform and start marketing it to the Cardano community.
• Monitor the platform and make changes based on user feedback.
• Timeline:
• 2 month
• Success Criteria:
• The platform is launched and available to users.
• The platform is being used by a significant number of users.
• The platform is generating revenue.
• Cost:
• 13900 ADA

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

Milestone 1: Conduct a Feasibility Study

• Deliverables:
• A feasibility report that outlines the technical, financial, and market feasibility of the project.
• A market analysis report that assesses the competitive landscape.
• Feedback from potential users that validates the demand for the product.
• Outputs:
• A clear understanding of the technical, financial, and market feasibility of the project.
• A list of potential competitors and their strengths and weaknesses.
• An understanding of the demand for the product from potential users.
• Intended Outcomes:
• A decision to proceed with the project or not.
• A list of risks and challenges that need to be addressed.
• A set of requirements for the platform.

Milestone 2: Build a Prototype

• Deliverables:
• A working prototype of the platform.
• Documentation on the design and functionality of the prototype.
• Feedback from potential users that validates the design and functionality of the platform.
• Outputs:
• A working prototype of the platform that is user-friendly and secure.
• A list of changes that need to be made to the platform based on user feedback.
• Intended Outcomes:
• A prototype that can be used to validate the design and functionality of the platform.
• A list of changes that need to be made to the platform before it can be developed.

Milestone 3: Develop the Platform

• Deliverables:
• A fully developed platform that is user-friendly, secure, and integrated with a smart contract.
• Documentation on the design and functionality of the platform.
• Feedback from users that validates the functionality of the platform.
• Outputs:
• A fully developed platform that is ready to be launched.
• A list of changes that need to be made to the platform based on user feedback.
• Intended Outcomes:
• A platform that is ready to be launched and used by users.
• A list of changes that need to be made to the platform after it is launched.

Milestone 4: Launch the Platform

• Deliverables:
• A launched platform that is available to users.
• Documentation on the platform.
• Marketing materials for the platform.
• Outputs:
• A platform that is available to users and can be used to manage their Cardano investments.
• A list of users who have signed up for the platform.
• Intended Outcomes:
• A platform that is being used by users to manage their Cardano investments.
• A list of users who are satisfied with the platform.

To track the project's progress, you could measure the following metrics:

• The number of users who have signed up for the platform.
• The number of transactions that have been processed on the platform.
• The amount of Cardano that has been managed on the platform.
• The level of user satisfaction with the platform.

By tracking these metrics, you will be able to see how the project is progressing and whether or not it is meeting its goals.

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

Budget Summary

• Total Budget: 74889 ADA
• Cost per Milestone:
• Milestone 1: 13900 ADA
• Milestone 2: 17089 ADA
• Milestone 3: 30000 ADA
• Milestone 4: 13900 ADA

Budget Details

• Milestone 1: Conduct a Feasibility Study
• Cost: 13900 ADA
• Resources:
• Research and analysis
• Interviews with potential users
• Market analysis
• Development of a feasibility report
• Milestone 2: Build a Prototype
• Cost: 17089 ADA
• Resources:
• Development of a prototype
• User testing
• Iterations based on user feedback
• Milestone 3: Develop the Platform
• Cost: 30000 ADA
• Resources:
• Development of the platform
• Integration with a smart contract
• User testing
• Iterations based on user feedback
• Milestone 4: Launch the Platform
• Cost: 13900 ADA
• Resources:
• Marketing and promotion
• Community engagement
• Documentation
• Launch event

Total Budget: 74889 ADA

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

Here is how the cost of the project "AdaWealth" represents value for money for the Cardano ecosystem:

• The project will create a new platform that will allow users to manage their Cardano investments. This will make it easier for users to participate in the Cardano ecosystem and will help to grow the ecosystem.
• The project will be developed by a team of experienced professionals who have a proven track record of delivering successful projects. This ensures that the project will be completed on time and to a high standard.
• The project will be open source, which means that anyone will be able to use it and contribute to it. This will help to ensure that the project is sustainable and that it continues to be developed and improved over time.

The cost of the project is 74889 ADA. This may seem like a high cost, but it is justified by the following factors:

• The project will require the expertise of a team of experienced professionals.
• The project will need to be marketed and promoted to reach a wide audience.

We have decided on the costs of the project based on the following factors:

• The average wage in my country.
• Typical freelance rates in my industry.
• The cost of specialized software and hardware.
• The cost of marketing and promotion.

We believe that the cost of the project is justified and that it represents value for money for the Cardano ecosystem. The project will create a new platform that will make it easier for users to participate in the Cardano ecosystem and will help to grow the ecosystem. The project will also be developed by a team of experienced professionals who have a proven track record of delivering successful projects.

In addition to the factors mentioned above, the project will also provide the following benefits to the Cardano ecosystem:

• It will help to increase the awareness of Cardano and attract new users.
• It will help to build a community of Cardano users and developers.
• It will help to promote the use of Cardano for financial transactions.

We believe that the project "AdaWealth" represents value for money for the Cardano ecosystem and that it will help to grow the ecosystem.

[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