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[GENERAL] Name and Surname of Main Applicant

[GENERAL] Email address of Main Applicant

Additional Applicants

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[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.” in this field.

No dependencies.

[GENERAL] Will your project outputs 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.” in this field.

The operating costs cannot be published as open source.

[METADATA] Category of Proposal

[IMPACT] Please describe your proposed solution.

Eternl is a popular Cardano Light Wallet. With a strong community behind us and thousands of daily users, we have gained a lot of knowledge about high-performance and cost-effective backends and DB servers. 

But even with this knowledge, the size of our user base requires us to spend a significant amount of money on servers. Given the state of the cryptocurrency market, our alternative sources of income are currently barely sufficient to run Eternl on our own. Therefore, we are asking the Cardano community for support to cover these costs for 12 more months.

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

Currently, Eternl has over 100,000 active weekly users. This proposal ensures that these users can continue to reliably interact with the Cardano blockchain.

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

Eternl proceeds to function as expected with minimal downtime and good availability around the globe. Just like in our Fund9 proposal, we can provide screenshots illustrating that the servers are up and running. 

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

The monthly report will include screenshots as evidence and Eternl will be accessible by all ADA holders.

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

The Eternl team is well-known in the Cardano community and has been providing wallet services for quite some time. Also with the Fund9 request "Enable Eternl" we have proven that we are able to keep it up and running.

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

Our goal is to provide our services to an ever-growing user base and maintain operations. KPIs are the number of installations and server uptime. If we maintain or even improve these numbers while keeping costs constant, we consider our approach successful.

[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.

There are no milestones in the traditional sense, but each month with functioning infrastructure will be considered a success for the purposes of this proposal.

Since we need to define milestones for this project, we will work with quarterly PoAs and provide the same evidence as in the monthly reports.

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

We will submit a report each month showing that the servers are up and running and provide screenshots illustrating this, as we did with our previous Fund9 request.

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

Eternl server costs (hardware and maintenance) amount to approximately 10,000€ per month.

Funds requested are based on:

• ADA-EUR: 0.26€
• 20% slippage to account for market movements
• 12 months runtime

Total: 553,800 ADA

Amount per month: 46,150 ADA

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

The ongoing operation of Eternl as part of the Cardano ecosystem is of great interest to the community. This funding will ensure a thriving environment and wallet experience.

[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.