Cardano App for Slack

[GENERAL] Name and surname of main applicant

Five Binaries

[GENERAL] Email address of main applicant

hello@fivebinaries.com

Additional applicants

N/A

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

2

[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.” .

The app is going to be in the Slack Application directory.

[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 Tools, API or Library

[IMPACT] Please describe your proposed solution.

Our proposed solution is to develop a dedicated Cardano Slack App to seamlessly integrate blockchain technology with the communication platform. This integration will primarily feature two key functionalities - Blockchain Querying and Real-time Notifications.

Blockchain Querying will allow users to request and view Cardano blockchain data directly within Slack. With simple commands, users can check transaction history, wallet balances, stake pools, governance actions and more. This brings the complexity of the blockchain to a manageable level for everyday users, right within their familiar communication platform.

Real-time Notifications will provide users the ability to subscribe to and receive instant updates on specific events on the Cardano blockchain. This could include updates on transactions involving certain addresses or major changes to the blockchain itself, like a governance proposal. Users and teams can stay informed of important events, increasing efficiency in workflows that depend on up-to-date blockchain data.

Our project primarily engages businesses, organizations, and teams already utilizing Slack for internal communication and interested in incorporating or already using blockchain technologies. By directly integrating Cardano's features into their primary communication platform, we can simplify and enhance their interactions with the Cardano blockchain.

The beneficiaries of this integration will primarily be businesses and teams that use Slack and are looking to tap into the potential of blockchain without needing to navigate a new platform or learn a new toolset. They'll gain a more streamlined and efficient workflow, with the ability to stay updated on important Cardano blockchain events right within their primary communication tool.

This solution should be important to Cardano because it extends its reach and accessibility, potentially increasing its user base. It also opens up new, practical use cases for Cardano, showcasing its potential beyond typical cryptocurrency transactions and demonstrating its applicability in everyday business operations.

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

By extending Cardano functionalities to a popular communication platform, we increase its accessibility, usage, and visibility, encouraging wider adoption. Furthermore, by opening up practical, everyday use cases for Cardano, we demonstrate its versatility beyond typical cryptocurrency transactions, contributing to its reputation and growth.

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

To demonstrate the impact of our project, we'll monitor key metrics, which are: the number of app installations, user engagement levels, usage volumes and user feedback. Success will be defined not just by usage stats, but by qualitative feedback on how our solution has streamlined workflows and improved the user experience.

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

The project outputs are going to be open source and the code, as well as the work itself, can be monitored real time in the open source code repository. At the end of the project, which is estimated to be just one month, we will submit the usual Catalyst paperwork for review.

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

We are one of the most trusted entities in the Cardano ecosystem. We are best known for developing Blockfrost.io, a service that provides developers with an API to interact with Cardano blockchain.

In addition to more than 30 successful Catalyst proposals over the past two years, we’ve also integrated Cardano into a digital wallet application developed by one of the industry's top hardware wallet manufacturers.

Further adding to our portfolio, we have developed a unique solution for safeguarding and preserving the digital representation of Cardano NFTs by providing secure, global and long-lasting cold storage backups - Continuity Token.

With a skilled team of blockchain enthusiasts and experts, Five Binaries is committed to making the Cardano blockchain more accessible and secure for developers and users alike.

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

To validate our approach, we'll initiate a proof-of-concept phase, where we develop a basic version of the app and test the key functionalities. User testing and feedback, along with technical feasibility checks, will be instrumental in this phase. The learnings from the PoC phase will help us gauge the project's feasibility and guide the subsequent full-scale development.

[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. Research phase (10 days)
2. Proof-of-concept phase (20 days)
3. Community feedback phase (10 days)
4. Release phase (20 days)

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

1. Research phase: a plan with technical implementation details
2. PoC phase: a working prototype that anyone can try, open sourced
3. Community feedback: community is being engaged to submit proposals for enhancements and bugs
4. Release phase: feedback taking into the account with heavy testing, the tool is released and submitted into the Slack App store

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

We estimate this will take about 90 man hours to complete, the budget itself is entirely covering the developer salaries.

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

The cost of the project can be viewed as an investment into expanding Cardano's accessibility, usage, and practical applications within business environments. By integrating Cardano with Slack, a widely-used communication platform, we're making the blockchain and its functionalities more readily accessible and easy to interact with for a large user base.

The resulting increase in Cardano's usage and visibility can potentially bring more users into the Cardano ecosystem, boosting its growth and value. Moreover, showcasing the practical, day-to-day use cases of Cardano through this integration could enhance its reputation as a versatile, user-friendly blockchain platform. The long-term benefits of these outcomes in terms of increased adoption and innovative application of the Cardano blockchain significantly outweigh the initial project cost, representing value for money for the Cardano 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