Cross-Chain Unity: Empowering Cardano Native Tokens with Multi-Blockchain Interoperability

[GENERAL] Name and surname of main applicant

Nicolas Caridi

[GENERAL] Email address of main applicant

nic.caridi@gmail.com

Additional applicants

Viviek Patel, Marcus Lee, Campurean Alexandru

[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.

No

[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.”

Project will be fully open source.

[METADATA] Category of proposal

Dev Ecosystem Collaboration

[IMPACT] Please describe your proposed solution.

Our proposed solution is to build an open-source blockchain-agnostic API and connector that will empower Cardano native tokens with cross-chain functionalities. Here are the details of our approach:

Perception of the Problem: We understand that for the mainstream adoption of Web3 brands and blockchain technology, users shouldn't be concerned about which blockchain a token operates on. However, the current blockchain landscape is highly fragmented with no easy way to track and reward token usage across multiple chains, hindering the growth of the Cardano ecosystem and the broader blockchain industry.

Our Approach: To solve this issue, we propose creating a platform and an API that enables Cardano native tokens to be tracked and rewarded across other blockchains, essentially creating a seamless transaction system. This approach is aligned with Cardano's strategic goal of increasing the number of open-source projects, attracting developers from outside of the current community, and accelerating dApp development.

Engagement: Our project will engage with developers and enterprise dev managers, Cardano community members, and other stakeholders in the Cardano ecosystem. We aim to make it easy for developers to build on top of Cardano and incentivize more open-source projects.

Demonstrating Impact: Our impact will be measured by the number of API or developer tools that lower the entry barrier for developers in Cardano, the number of developers actively building on top of Cardano, the number of Github repos using our tooling, and the growth of the community of developers and proposers with thriving project collaboration.

Unique Benefits: What sets our solution apart is that it not only bridges the gap between different blockchains, but it also contributes to Cardano's usability and attractiveness for developers and businesses. This solution benefits all stakeholders within the Cardano ecosystem, leading to increased adoption and growth. Our project is directly aligned with Cardano's strategic goals and addresses the core challenges of the current developer ecosystem. By enabling seamless cross-chain functionalities, we contribute to Cardano's mission of becoming the financial and social operating system for the world. Improve optics of imagery.

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

Addressing the Challenge: Our project aligns with the key areas of focus of the challenge. We are focusing on the creation of a 'connector' tool (the API) that will automate cross-chain interactions, enhancing developer productivity. This solution serves as a bridge, facilitating easy deployment of dApps and promoting increased engagement with the Cardano ecosystem. It helps to build out comprehensive infrastructure projects that align with Cardano's strategic goals.

Benefits to Cardano:

Increased Adoption: By making Cardano native tokens interoperable across multiple chains, we make it easier for businesses, developers, and users to adopt and build on Cardano. This effectively expands the reach of the Cardano ecosystem.

Growth of Developer Community: Our solution will serve as a catalyst for attracting developers from different blockchain ecosystems, further expanding and diversifying the Cardano developer community.

Enterprise Appeal: Our project significantly improves the optics for enterprise partnerships and brand building by providing a tool for full Web3 reach with enterprise-level security.

Quantifying Impact:

We aim to have a considerable impact on the Cardano ecosystem. Within a year of project completion, we anticipate:

• Facilitating the token structure of at least 10 open-source projects in the Cardano ecosystem.
• Attracting 1000+ new members to the Cardano community through our collaborative structures and support systems.

By providing the necessary infrastructure for seamless cross-chain functionality, we believe our project will significantly strengthen the Cardano ecosystem, enabling it to solve a key problem and promoting wider adoption.

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

Quantitative Metrics:

New Open-source Projects: We will track the number of new open-source projects that utilize our tooling for their token structure. This signifies the acceptance and usefulness of our solution in the Cardano ecosystem.

Community Growth: Measuring the growth of the Cardano community, particularly the increase in new members, will be a significant indication of our project's success in attracting more users to Cardano.

Qualitative Metrics:

User Feedback: We will actively seek out user feedback, including developers, businesses, and users, to gauge their experience with our API, its ease of use, and any improvements they would like to see.

Enterprise Partnerships: Feedback from potential enterprise partners will provide insight into how our solution impacts their perception of Cardano's suitability for large-scale projects.

Our API's impact on Cardano's productivity and growth is expected to be substantial, both in the short and long term. In the short term, we anticipate a surge in interest from developers and businesses as they explore the possibilities of our tooling. This should lead to an increase in the development of dApps and other projects on Cardano.

In the long term, our project's success will contribute to the overall robustness of the Cardano ecosystem. By facilitating cross-chain interactions, we expect to see Cardano's reach extending across multiple blockchain ecosystems. This enhanced interoperability and functionality should attract more developers, users, and businesses, contributing to Cardano's sustained growth and success.

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

Knowledge Sharing and Project Outputs:

Open Source: Our project's codebase will be released under an open-source license. This encourages use and contributions from the wider blockchain community, allowing other developers to learn from our work, utilize our tools, and further improve upon them.

Developer Documentation and Tutorials: We plan to create comprehensive documentation, including step-by-step guides and tutorials, to help developers understand and leverage our API effectively.

Community Engagement: We plan to share regular updates about our project's progress, milestones, and results through multiple community channels such as Cardano forums, social media, blog posts, and webinars. This fosters an environment of collaboration and shared knowledge.

Spreading the Project's Outputs:

Phased Rollout: We aim to roll out our project's outputs in phases, starting with R&D, proof of concept, MVP, and market testing. If our idea is validated by the market and we garner interest from various communities, we will work on building the APIs to connect with other blockchains. 

Collaborations and Partnerships: We will engage with other projects in the Cardano ecosystem, offering them the opportunity to use our tools and contribute to their enhancement. And we’ll build partnerships with enterprise businesses and projects on other blockchains that want to leverage Cardano’s security and scalability.

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

Our team, consisting of Nicolas Caridi, Viviek Patel, Marcus Lee, and Campurean Alexandru, has a rich blend of expertise in business development, marketing, blockchain project management, and community engagement. These capabilities, combined with our team's familiarity with the Cardano Ecosystem, make us uniquely positioned to deliver this project successfully.

Nicolas Caridi, with his broad experience in business development, marketing, and blockchain project management across several industries, will be at the helm of coordination and task delegation within the development team. His accomplishments in the Cardano Ecosystem, such as creating the first Ethereum digital collectible with Cardano utility, only underline his aptitude for innovating within the blockchain space.

Viviek Patel brings his strong background in product marketing, go-to-market launches, and project management in tech startups to the table. His work has encompassed various fields like Agricultural tech, Blockchain, IoT, Fintech, and more. Having worked on the marketing of digital avatars integrating with 6 blockchains and helping Cardano-based businesses scale their marketing efforts, Viviek is ideally suited to lead partnerships and marketing of our platform and API.

Marcus Lee is a proven developer who has delivered solutions used widely across the blockchain industry. His brainchildren include xcsLabs, OrdinalsGateway, and a Cardano minting service. Marcus and his team at XCSLabs will be handling the full-stack development of our project, thus ensuring the robustness and reliability of our solutions.

Campurean Alexandru, a crypto enthusiast, brings his strong community management and liaison experience to our team. His understanding of the Web3 community and his ability to keep the community and team connected will prove invaluable.

In terms of resources, we believe that our current team's combined skills will enable us to start the project effectively. As the project grows and evolves, we may need additional talents. To attract new talent, we plan to leverage our networks, showcase our exciting work in the Cardano ecosystem, and offer opportunities to work on cutting-edge blockchain solutions. Our commitment to openness, collaboration, and innovation will help us attract and retain high-quality team members.

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

Our main project goals can be broadly categorized into technical and community-oriented objectives. Given the nature of our project, we understand the importance of delivering a technical solution (API for cross-chain interactions) that is robust, secure, and easy to use. However, we also recognize the need to foster a vibrant and engaged community around our project to ensure its long-term sustainability and growth.

Technical Goals:

MVP Development: Our immediate technical goal is to develop a working MVP of our API within the first 6 months of project initiation. The MVP will serve to demonstrate the basic functionality of facilitating cross-chain interactions between Cardano and other blockchains. It will be thoroughly tested in various scenarios to ensure its performance and reliability.

API Enhancement: After the MVP release, we will focus on enhancing the API based on user feedback and identified requirements. This could include optimizing performance, improving security, adding new features, and so on.

Community-oriented Goals:

Community Engagement: We aim to foster an active and engaged community around our project. Our goal is to attract a minimum of 1000 active community members within the first year. We will regularly interact with the community, provide updates, solicit feedback, and organize events to engage them.

Validating Feasibility:

For technical goals, we will employ standard software development and testing methodologies to validate our API's functionality, performance, and security. For community-oriented goals, we will track community growth metrics (number of members, activity levels, new open-source projects) and gather community feedback to gauge our progress.

Our phased rollout plan enables us to manage risks effectively, ensuring that each stage is validated before moving on to the next.

[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: Research & Development (Months 1-2, $10,000)

Activities: Understand the requirements, review existing solutions, define the architecture and technology stack for the cross-chain API.

Success Criteria: Completion of technical specifications, architecture design, and a detailed project plan with defined roles and responsibilities.

Milestone 2: Development of MVP (Months 3-6, $40,000)

Activities: Code the basic functionalities of the API, integrate with the Cardano blockchain, and perform initial testing.

Success Criteria: A working MVP that can facilitate basic cross-chain interactions between Cardano and another blockchain, validated through testing.

Milestone 3: MVP Testing & Community Feedback (Months 7-8, $25,000)

Activities: Extensive testing of the MVP in various scenarios, gather and incorporate feedback from the community, identify areas of improvement.

Success Criteria: Stable MVP without major bugs, positive initial feedback from community, identified areas for improvement.

Milestone 4: API Enhancement & Adoption (Months 9-12, $47,000)

Activities: Optimize API based on feedback, add new features, start promoting the API for wider adoption, support new projects that wish to use the API.

Success Criteria: An enhanced API with added features and improved performance, 50 new projects using the API, positive feedback from the community and users.

Our project management approach involves regular communication within the team and with the community, adhering strictly to the project plan, and being open to feedback and changes. We will use agile methodologies to enable flexibility and ensure that the project stays on track.

Our budgetary allocation is done considering the complexity and manpower requirements of each milestone. However, we are committed to being transparent and accountable, and we will ensure that any deviations from the planned budget will be communicated in advance and justified.

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

Milestone 1: Research & Development (Months 1-2)

Deliverables: Detailed project plan, technology stack decision, architecture design, technical specifications.

Intended Outcomes: Setting a solid foundation for the project by thoroughly understanding the requirements and making informed decisions about the technology and architecture.

Progress Measurement: We will measure the progress by the completeness of the project planning documentation and the completion of the architecture design and technical specifications.

Milestone 2: Development of MVP (Months 3-6)

Deliverables: Minimum Viable Product (MVP) with basic functionalities of the API.

Intended Outcomes: A working cross-chain API that can facilitate basic interactions between Cardano and another blockchain.

Progress Measurement: The progress will be measured by the successful development and testing of the MVP.

Milestone 3: MVP Testing & Community Feedback (Months 7-8)

Deliverables: A tested MVP, community feedback reports, identified areas for improvements.

Intended Outcomes: A stable MVP that has been tested in various scenarios and validated by the community.

Progress Measurement: The progress will be measured by the successful testing of the MVP, the amount and quality of community feedback received, and the improvements identified.

Milestone 4: API Enhancement & Adoption (Months 9-12)

Deliverables: An enhanced API with added features, promotion materials for API adoption, user manuals and documentation.

Intended Outcomes: An enhanced API that caters to a wider range of cross-chain interactions, adopted by multiple projects for their cross-chain needs.

Progress Measurement: The progress will be measured by the successful development and deployment of the enhanced API, the number of projects that adopt the API, and the feedback received from users and the community.

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

Project Management (20%): $24,400

Includes planning, coordinating, and overseeing the project. Also involves regular reporting to the community and overall project governance.

Research & Development (15%): $18,300

Includes technological research, architecture design, and technical specifications writing.

Software Development (40%): $54,900

This is the bulk of the work and includes developing the MVP and the final API, incorporating enhancements, and testing.

Third-Party Services (5%): $6,100

We anticipate needing some third-party services like server hosting, code repository, communication and project management tools, API services, security tools, etc.

Audit and Compliance (5%): $6,100

This is allocated for any code audits, legal consultations, or other compliance-related costs to ensure the API meets all relevant standards and regulations.

Marketing and Community Engagement (10%): $12,200

This will go towards creating awareness about our API, facilitating its adoption, and engaging the community for their feedback and suggestions.

Total Budget: $122,000

As the budget indicates, we have allocated a majority of our funds to the software development aspect, which is the core of our project. However, we also understand the importance of other components like project management, community engagement, and compliance. This budget is an estimation and can be adjusted slightly based on the actual needs and progress of the project. Our team is committed to managing the funds responsibly and transparently, and we will provide regular updates to the community on how the funds are being used.

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

Experienced Team: Our team is comprised of experts with a vast experience in blockchain development, marketing, and project management. The budget primarily goes towards compensating for the wealth of their experience and their dedication. This skilled team brings a track record of success in the Cardano ecosystem, and such expertise is paramount for the success of a project of this magnitude.

Scalable Impact: Our project, an API for Cardano smart contracts, is designed to significantly enhance the functionality and usability of the Cardano ecosystem. By simplifying the development process, we will be able to encourage more developers to build on Cardano, driving adoption and innovation. The wide-reaching, long-term benefits of this project far outweigh the immediate costs.

Market-Competitive Costs: Our budget reflects the market-competitive costs of undertaking a project of this complexity. The rates for software development, project management, and marketing align with industry standards, and are proportional to the average wage in the countries our team members are based in.

Strategic Resource Allocation: We have a meticulously planned phased rollout strategy, which ensures funds are utilized efficiently and transparently. Funds are allocated to each milestone, allowing for thorough tracking and accountability of resources. This approach helps in minimizing wastage and maximising productivity.

Sustainable Development: Our project's aim is not just about creating a one-time product, but providing a sustainable resource for the Cardano ecosystem. The API we're developing will act as a foundation for future innovations, which means the funding received is essentially an investment into the growth and longevity of Cardano.

In sum, the project's costs are reflective of the expertise required, the complexity of the task at hand, the market rates for this kind of work, and the potential for enduring, scalable impact on the Cardano ecosystem. It is an investment into Cardano's future, designed to bring lasting value.

[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