Dune Analytics for Cardano: explore, visualize and discover trends in DeFi markets

[GENERAL] Name and surname of main applicant

Maestro Team

[GENERAL] Email address of main applicant

info@gomaestro.org

Additional applicants

NA

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

6

[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?

No

[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 have components that will be open sourced and others that will be available via a (free) subscription on the Maestro platform. 

 

Open-sourcing blockchain Scrolls Reducers

This is the key code needed to process transactions, parse smart contract events and extract protocol information such as market price of a token. The Scroll reducers that perform this action will be made open source for the community to verify accuracy, and use to their benefit.

Data feed API subscription

If users don’t want to run their own Scrolls infrastructure Maestro’s platform will offer a high-performance data feed API via a FREE plan with 100,000 credits/day, great for developers and small projects. For higher request volume and throughput requirements paid plans will be available see www.gomaestro.org/pricing

[METADATA] Category of Proposal

Data, Explorers, Trackers

[IMPACT] Please describe your proposed solution.

PART 1 (current proposal)

Blockchain analytics companies like Dune Analytics and Messari are massively popular on EVM blockchains and have provided huge benefits across various applications. They have empowered developers to build better dApps, traders make better decisions and researchers discover new trends in DeFi. 

Data Accessibility:

The Cardano blockchain contains vast amounts of data that is publicly available but can’t be easily accessed nor analyzed. This project will abstract away all that complexity and offer easy access to valuable smart contract data. It significantly reduces the barrier to entry for users looking to explore Defi data from top Cardano projects.

Scope of work:

• REST API to access smart contract data feeds from top Cardano dApps 
• Minswap, Liqwid
• 2-3 Project TBD (eg Wingrider, Indigo, VIFY, etc.)
• High fidelity financial data feeds designed for low-latency, which are a necessity for DeFi applications involved in trading, derivatives, and risk management.
• Enterprise-grade security, reliability and availability

Data Analysis:

Even with access to raw blockchain data, analyzing specific smart contract interactions happening on DEXes and Lending protocols can be quite challenging. This project will also process and aggregate contract data into dApp metrics and financial indicators to enable more advanced blockchain analytics particularly valuable for researchers, traders, and developers looking to extract deep insights from Cardano’s Defi ecosystem.

Scope of work:

• REST API to access aggregated dApp metrics and financial indicators
• Dexes - market price, trades volume, order book, pool liquidity, token TVL, and other token metris etc.
• Lending protocols - borrowing/lending rates, loan status, liquidations, and other loan metrics etc.
• NFT marketplaces - floor price, trade volume, sale history, policy history, and other NFT metrics

PART 2 (future proposal)

Data Visualization: Extracting insights from time series data can be difficult without the right tools and interface. This proposal will allow users to create custom dashboards with various visualizations similar to Dune Analytics. Users will be able to sort, filter, aggregate data to identify trends and gain valuable insight.

Knowledge Sharing: In many cases, users must start their analyses from scratch, even if others have conducted similar analyses in the past. This project will foster an open community where users can share their analyses and build upon the work of others. This saves time and promotes a collective understanding of the Cardano ecosystem.

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

Some cardano projects have already confirmed that they will use this solution to power key components in their Dapps. These projects are:

• Metera: Platform to create and invest in tokenized portfolios
• Genius Yield: Next-generation DEX and yield optimizer

However this proposal offers new possilibites for the community at large. It brings new capabilities to Scrolls, an open-source Cardano indexer and integrates with Maestro’s Dapp platform to offer a novel and powerful interface to:

1) Access complex DeFi data

2) Explore DeFi trends in real-time, and

3) Discover new valuable blockchain insights.

Whether you're a developer, researcher, or trader, this powerful toolset will completely democratize access to the Defi data and help further fuel adoption and innovation in the ecosystem.

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

Measuring success of this project will be straightforward. Data feed API metrics will be tracked, monitored and shared publicly to the community to evaluate API usage growth, request volume and endpoint distribution. The public report will include:

• Daily & monthly request volume
• Monthly active users and growth rate
• Monthly endpoint usage distribution

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

The benefits of the project will be available either as a self-hosted solution or hosted API service to the community. 

Self-hosted

A fork of Scrolls will be open-sourced and extended to include these new reducers that can parse and process smart contract market data.

Hosted API 

For users who don’t want to run their own Scrolls infrastructure, Maestro will offer an end-to-end data feed API, fully managed by its internal indexer and data processing pipeline to provider a high-fidelity, high-performance smart contract data feeds. This will lower the barrier to entry and democratize DeFi metrics for everyone. It will empower teams to build better dApps and offer innovative features such as Metera and Genius Yield.

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

Maestro has a proven track record in providing Cardano infrastructure services: Blockchain Indexer, Transaction Manager and Turbo Transaction. In particular Maestro’s indexer endpoints averages 300,000 request / day and is being used to power top projects and dApps on Cardano. A smart contract data feed API plays perfectly in the strength of Maestro’s expertise and guarantees a high level of success.

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

Data Accessibility:

The Cardano blockchain contains vast amounts of data that is publicly available but can’t be easily accessed nor analyzed. This project will abstract away all that complexity and offer easy access to valuable smart contract data. It significantly reduces the barrier to entry for users looking to explore Defi data from top Cardano projects.

Scope of work:

• REST API to access smart contract data feeds from top Cardano dapps (Minswap, Wingrider, Liqwid, Indigo, etc.)
• High fidelity financial data feeds designed for low-latency, which are a necessity for DeFi applications involved in trading, derivatives, and risk management.
• Enterprise-grade security, reliability and availability

Data Analysis:

Despite access to raw blockchain data, analyzing specific smart contract interactions happening on DEXes and Lending protocols is challenging. This project will also process and aggregate contract data into dapp metrics and financial indicators to enable more advanced blockchain analytics particularly valuable for researchers, traders, and developers looking to extract deep insights from Cardano’s Defi ecosystem.

Scope of work:

• REST API to access aggregated dapp metrics and financial indicators
• Dexes - market price, trades volume, order book, pool liquidity, token TVL, and other token metris etc.
• Lending protocols - borrowing/lending rates, loan status, liquidations, and other loan metrics etc.
• NFT marketplaces - floor price, trade volume, sale history, policy history, and other NFT metrics

[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 - Implement data feed endpoint schema for raw metrics (non-aggregated)

Timeline: 2 months

Tasks:

• Select specific protocols that will the indexed (eg: Dex, lending, NFT marketplace contracts)
• Define endpoint schema for raw metrics
• Implement REST API

Milestone 2 - Implement backend ETL pipeline architecture

Timeline: 2 months

Tasks:

• Extract - extraction of raw blockchain data in real-time
• Transform - event-driven data processing pipeline for customized to each protocols
• Load - scalable data storage system paired with fast and efficient querying interface 

Milestone 3 - Implement data feed endpoint schema for aggregated metrics

Timeline: 1 month

Tasks

• Select specific aggregated metrics that will computed for selected protocols(eg: Dex, lending, NFT marketplace)
• Define endpoint schema for aggregated metrics
• Implement REST API

Milestone 4 - End-to-end integration and comprehensive testing

Timeline: 1 month

Tasks

• Integrate backend pipeline with raw metrics endpoints
• Integrate backend pipeline with aggregated metrics endpoints
• Test data liveliness and accuracy 
• Test latency in high load scenarios

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

Deliverable 1 - Implement data feed endpoint schema for raw metrics (non-aggregated)

• Scrolls reducers for DEX contract
• Scrolls reducers for Lending contract
• Endpoint schema for raw contract metrics
• Deploy contract data feed APIs

Deliverable 2 - Implement backend ETL pipeline architecture

• Extraction - extraction pipeline of raw blockchain data in real-time
• Transforming - event-driven data processing pipeline for customized to each protocols
• Loading - scalable data storage system paired with fast and efficient querying interface 

Deliverable 3 - Implement data feed endpoint schema for aggregated metrics

• Aggregation of indexed data into DeFi metrics (eg: Dex, lending, NFT marketplace)
• Endpoint schema for aggregated metrics
• Deploy aggregated contract data feed APIs

Deliverable 4 - End-to-end integration and comprehensive testing

• Integrate backend pipeline with raw metrics endpoints
• Integrate backend pipeline with aggregated metrics endpoints
• Test data liveliness and accuracy 
• Test latency in high load scenarios

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

Deliverable 1 - Implement data feed endpoint schema for raw metrics (non-aggregated)

$55/hr x 5 weeks x 40hr/week = $11 000 

Deliverable 2 - Implement backend ETL pipeline architecture

$55/hr x 9 weeks x 40hr/week = $19 800 

Deliverable 3 - Implement data feed endpoint schema for aggregated metrics

$55/hr x 6 weeks x 40hr/week = $13 200 

Deliverable 4 - End-to-end integration and comprehensive testing

$55/hr x 6 weeks x 40hr/week = $13 200 

TOTAL ($) = $57 200

TOTAL ($0.3/ADA) = 190 666 ADA

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

The value to the Cardano ecosystem is potentially quite high. Analytics companies in EVM, such as Dune Analytics and Messari, are massively popular and have tens of thousands of users. Their platforms empower developers to build better Dapps, traders to make better decisions and researchers to discover new DeFi trends. 

Maestro has carefully analyzed the costs associated with building and maintaining this service. This includes but is not limited to product development, engineering and marketing. The end result, however, is a sophisticated data aggregation and query system with economies of scale. Thousands of people in the ecosystem will be able to query mission critical data or extend the system to fit their particular needs.

The services budget is according to or below standard rates for these professional services in Europe or the USA.

[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