RatsDAO I Cardano Native Tokens Vesting DApp

[GENERAL] Name and surname of main applicant

Agustin Franchella

[GENERAL] Email address of main applicant

agustinenada@gmail.com

Additional applicants

Manuel Padilla

Luis Restrepo

Agustín Franchella

Mariano Molina

Diego Torres

Federico Ledesma

Alfred Vilsmeier

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

7

[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

dApp

[IMPACT] Please describe your proposed solution.

Our solution aims to promote the development of a platform for token vesting driven by a vesting smart contract, which will be accessible and open for examination by anyone. By utilizing this web application, projects will have a reliable and automated solution to handle their token distributions and vesting schedules securely. Moreover, the transparent nature of this application being open-source will foster trust and confidence among token holders and their respective communities.

This dApp aims to address the challenge of implementing secure and transparent token vesting mechanisms for projects and development teams.

The problem we are solving is the lack of a decentralized, clear, and transparent way to lock up tokens and release them with a vesting schedule on a decentralized platform. Many projects distribute tokens gradually over time to ensure responsible token distribution and prevent immediate dumping on the market. However, verifying and enforcing these vesting schedules can be complex and challenging, especially in cases where tokens are distributed through private sales or pre-sales.

We will engage Cardano project teams, development communities, and token holders who utilize token vesting mechanisms as part of their token distribution strategy. These projects will benefit from a decentralized solution that eliminates the need for trust in manual token vesting processes. By adopting Vesting dApp, projects can enhance transparency, accountability, and investor confidence.

By automating the process through smart contracts, we eliminate the need for reliance on manual execution, reducing the risk of human error or manipulation.

The benefits of our solution extend beyond individual projects. By promoting transparency and trust in token vesting, the Cardano ecosystem as a whole will experience increased investor confidence and enhanced reputation. It sets a precedent for responsible token distribution practices and attracts more projects to build on Cardano. This ultimately contributes to the growth, adoption, and long-term success of the Cardano platform.

To demonstrate the impact of our solution, we will track and measure several key indicators, such as the number of projects utilizing the protocol, the volume and value of tokens vested through the dApp, and feedback from project teams and token holders regarding the transparency and effectiveness of the solution. These metrics will provide tangible evidence of the adoption and impact of our solution within the Cardano ecosystem.

Implementation

A smart contract will be created to store the vesting datums. Each vesting datum will represent a specific fund lock of a specific token. When a user or community wishes to lock funds for a certain period of time, they will create a new vesting datum in the address of the vesting contract.

The datum will contain information about the creator, who will have the rights to these funds, and the date from which the funds can be claimed again. A date program can be entered with specific percentages for each date. This way, a fund release plan can be generated.

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

We address the challenge of lacking a decentralized and transparent token vesting platform within the Cardano ecosystem. By developing a web application driven by smart contracts, it enables projects to securely manage their token distributions and vesting timelines, while offering transparency through open-source access.

The impact of this project on the Cardano ecosystem extends beyond funding the project team. It brings several significant benefits:

Enhanced Trust and Confidence: The transparent nature of the token vesting platform fosters trust among token holders and their respective communities.

Increased Adoption: The availability of a reliable and automated solution for token distributions and vesting timelines is likely to attract more projects to the Cardano ecosystem.

Strengthened Community Engagement: The token vesting platform serves as a valuable tool that encourages active participation from early adopters and investors.

Solving a Key Problem: The absence of a decentralized and transparent token vesting mechanism has been a significant challenge within the Cardano ecosystem.

While it is challenging to provide precise quantification, the impact can be measured through various indicators, such as the number of projects utilizing the token vesting platform, the volume of tokens being vested, and the level of community engagement generated. Realistically, within a reasonable timeframe, the project can be expected to attract a considerable number of users and transactions, thereby strengthening the Cardano ecosystem and establishing the token vesting platform as a vital component within it.

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

The success of the project can be measured through various metrics that demonstrate its benefits for the Cardano ecosystem. Here are some potential measures and their realistic expectations:

Adoption rate: Tracking the number of projects utilizing the token vesting platform will provide insights into its adoption rate.

Token vesting volume: Monitoring the volume of tokens being vested through the platform will showcase its usage and impact.

Community engagement: Assessing the level of community engagement generated by the token vesting platform is crucial.

Project growth and success: Keeping track of the growth and success of projects utilizing the token vesting platform can serve as a measure of its impact.

In the short term, the project's innovation is expected to have a positive effect on Cardano's productivity by providing a secure and efficient solution for token vesting. This enables projects to focus on their core objectives without concerns about manual token management. In the long term, the platform's usage and adoption can contribute to the ecosystem's growth by attracting more projects and fostering community engagement.

While quantitative metrics such as adoption rate and token vesting volume are important, qualitative measures such as user opinions and feedback are equally valuable. Incorporating both quantitative and qualitative measures allows for a comprehensive assessment of the project's success and its impact on the Cardano ecosystem.

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

To ensure the project's outputs and results are widely shared and effectively utilized, the following plans are outlined:

Documentation and publication: The project team will create comprehensive documentation that covers the technical aspects, implementation details, and best practices of the token vesting application.

Open source contribution: The project's source code will be released as open source, allowing everyone to build upon.

Collaboration and partnerships: The project team will seek opportunities to collaborate with other projects, dApp developers, and research organizations within the Cardano ecosystem.

Community engagement: The project team will actively engage with the Cardano community through various channels such as forums, social media, and developer communities.

Research and development contributions: The results generated from the project, including insights, lessons learned, and innovations, will be shared with the Cardano research communit

The project team will continuously assess and refine their dissemination strategy, ensuring that the outputs and opportunities resulting from the completed project reach the community. Regular updates, community engagement, open-source contributions, and partnerships will be utilized to spread the project's outputs, fostering adoption, collaboration, and further research and development activities within the Cardano ecosystem.

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

To deliver a project with high levels of trust and accountability, it is essential to showcase the following existing capabilities:

Expertise and Experience: The project team should possess the necessary expertise and experience in blockchain development, smart contracts, and decentralized applications. Demonstrating a track record of successful project delivery and relevant technical skills builds trust in their ability to deliver the proposed token vesting application.

Transparent Governance and Communication: Establishing transparent governance structures and maintaining clear and open communication with stakeholders are key to building trust. The project team should outline their decision-making processes, provide regular progress updates, and be responsive to inquiries and feedback from the community.

Security Measures: Implementing robust security measures is crucial for managing funds properly and ensuring the safety of users' assets. This includes conducting security audits, adhering to best practices for smart contract development, and implementing appropriate security protocols to protect the token vesting application from vulnerabilities and potential attacks.

Multi-signature wallets: To demonstrate responsible fund management, the project team will utilize multi-signature wallets. This mechanism provide an extra layer of security and accountability.

Transparency in resource allocation: Outlining how the project funds will be allocated and managed is essential for trust and accountability. The team should provide a breakdown of the budget, highlighting the planned expenses and resource allocation to various project components. Regular financial reporting and audits can also demonstrate responsible financial management.

Agustin Franchella had all of RatsDAO's ADA and NFTs assets under his custody for months, valued at almost US$2 million in its ATH. They were then transferred to a RatsDAO multisign wallet when Cardano had its first one. He currently is the asset manager of Rats DAO, and carries out operations such as the migration of more than 50 SpaceBudz. This speaks to the team's honesty and transparency.

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

The main goals for the project are as follows:

1. Development of a Functional Token Vesting dApp: The primary goal is to create a decentralized application (dApp) that effectively implements token vesting functionality on the Cardano blockchain.
2. Accessibility and Usability: The project aims to deliver a user-friendly dApp that is easily accessible to developers, project teams, and the Cardano community.
3. Security and Auditing Capabilities: Ensuring the security of the token vesting application is a crucial objective.
4. Adoption and Integration: The project aims to foster adoption of the token vesting dApp within the Cardano ecosystem.

To validate the feasibility of the approach, the project team will undertake the following steps:

1. Technical Feasibility Analysis: Conducting a thorough technical assessment to determine the feasibility of developing the token vesting dApp on the Cardano blockchain.
2. Prototyping and Proof of Concept: Developing a prototype or proof of concept to validate the core functionalities of the token vesting dAp
3. User Testing and Feedback: Engaging with potential users, including developers, project teams, and the Cardano community, to gather feedback on the usability and effectiveness of the dApp.
4. Security Audits and Reviews: Conducting comprehensive security audits of the smart contracts, codebase, and overall architecture of the token vesting dApp.
5. Community Validation: Regularly engaging with the Cardano community, sharing updates, seeking feedback, and evaluating the level of interest and adoption of the token vesting dApp.

By following these steps, the project team can validate the feasibility of their approach, iteratively refine the implementation, and ensure that the goals of the project are achievable within the technical capabilities of the Cardano blockchain.

[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: Project Initiation and Planning

Activities:

• General specifications
• Conduct a technical analysis
• Develop a project plan and timeline
• Set up project communication channels
• Initial Documentation
• Timeline: 3 weeks
• Success/Acceptance Criteria: Project plan and timeline approved, project team identified, and communication channels established.

Milestone 2: Smart contract Development

Activities:

• Develop smart contracts for token vesting functionality
• Implement basic features of the dApp
• Conduct initial testing and debugging
• Timeline: 4 weeks
• Success/Acceptance Criteria: Functional prototype developed, smart contracts implemented and tested, basic features of the dApp functioning as intended.

Milestone 3: Auditing and General Testing

Activities:

• Conduct security audits of smart contracts and dApp codebase
• Address any vulnerabilities or issues identified in the audits
• Implement necessary security measures and best practices
• Timeline: 4 weeks
• Success/Acceptance Criteria: Security audits completed, vulnerabilities addressed, necessary security measures implemented.

Milestone 4: Integration and Partnerships

Activities:

• Identify potential integration opportunities with existing projects
• Explore partnerships with relevant stakeholders in the Cardano ecosystem
• Collaborate on integrating the token vesting dApp into partner projects
• Timeline: 6 weeks
• Success/Acceptance Criteria: Integration opportunities identified, partnerships formed, successful integration with partner projects.

Milestone 5: Frontend design and development

Activities:

• Develop the frontend interface of the token vesting dApp
• Implement user-friendly and intuitive design
• Integrate with the backend smart contracts
• Conduct frontend testing and debugging
• Timeline: 4 weeks
• Success/Acceptance Criteria: Frontend interface developed and integrated with the backend, user-friendly design implemented, frontend testing completed successfully.

Milestone 6: User Testing and Feedback

Activities:

• Integration development
• Conduct usability testing with target users
• Gather feedback on the dApp's functionality, usability, and user experience
• Iteratively improve the dApp based on user feedback
• Timeline: 4 weeks
• Success/Acceptance Criteria: User testing conducted, feedback gathered, and improvements made to enhance usability and user experience.

Milestone 7: Documentation and Release

Activities:

• Prepare comprehensive documentation, including user guides and technical specifications
• Publish documentation and make it openly accessible
• Release the token vesting dApp to the Cardano community
• Timeline: 2 weeks
• Success/Acceptance Criteria: Documentation completed, published, and accessible, token vesting dApp released to the public.

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

Milestone 1: Project Initiation and Planning

Deliverables and Outputs:

• Project plan, including a timeline, milestones, resources, and risks.
• Project team and roles identification.
• Communication channels (e.g. Slack, Asana) and documentation platform setup (e.g. GitHub, Google Docs).
• Initial project documentation.

Intended Outcomes:

• A clear understanding of project goals and roadmap by all team members.
• A baseline for project tracking and management.
• Smooth and effective communication among team members.

Progress Measurement:

• The approval of the project plan and timeline.
• Successful setup of communication channels and project documentation.

Milestone 2: Smart Contract Development

Deliverables and Outputs:

• Smart contract code implementing token vesting functionality.
• Basic features of the dApp.
• Testing and debugging reports.

Intended Outcomes:

• Creation of a functional prototype that serves the core features of the dApp.
• Understanding of potential challenges and improvements for the dApp's features and functionality.

Progress Measurement:

• Successful implementation and initial testing of smart contracts.
• Completion of dApp's basic features.

Milestone 3: Auditing and General Testing

Deliverables and Outputs:

• Security audit reports.
• Revised smart contracts and dApp codebase addressing any identified vulnerabilities.
• Implemented security measures.

Intended Outcomes:

• Secure and robust smart contracts and dApp.
• A reduced risk of security vulnerabilities.

Progress Measurement:

• Successful completion of security audits.
• Implementation of necessary security measures and fixes to vulnerabilities.

Milestone 4: Integration and Partnerships

Deliverables and Outputs:

• List of potential integration opportunities and partners.
• Agreements/MOUs with partners.
• Integrated token vesting dApp in partner projects.

Intended Outcomes:

• Expansion of the dApp's user base and functionality through partnerships.
• Enhanced dApp value and credibility in the Cardano ecosystem.

Progress Measurement:

• Number of identified integration opportunities and formed partnerships.
• Successful integration with partner projects.

Milestone 5: Frontend Design and Development

Deliverables and Outputs:

• Frontend interface of the token vesting dApp.
• User-friendly design documentation.
• Testing and debugging reports.

Intended Outcomes:

• Creation of an intuitive and user-friendly dApp.
• The frontend effectively interacts with the backend smart contracts.

Progress Measurement:

• Completion of frontend development and its successful integration with the backend.
• Successful completion of frontend testing.

Milestone 6: User Testing and Feedback

Deliverables and Outputs:

• User feedback reports.
• Improved dApp based on user feedback.

Intended Outcomes:

• A dApp that meets user needs and provides a positive user experience.
• Identification and resolution of any issues affecting user experience.

Progress Measurement:

• Number of user tests conducted.
• Amount and quality of user feedback received and improvements made.

Milestone 7: Documentation and Release

Deliverables and Outputs:

• Comprehensive documentation including user guides and technical specifications.
• Public release of the token vesting dApp.

Intended Outcomes:

• Users and developers can understand and use the dApp effectively.
• The token vesting dApp is available for use by the Cardano community.

Progress Measurement:

• Completion and publication of documentation.
• Successful release of the dApp to the public.

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

Breakdown in Development Hours

Devs hour rate: $60

Milestone 1: Project Initiation and Planning

• Feasibility study and technical analysis: 28 hours ($1,680)
• Initial documentation: 8 hours ($480)
• Total development hours for Milestone 1: 36 hours ($2,160)

Milestone 2: Smart Contract Development

• Smart contract development: 95 hours ($5,700)
• Initial testing and debugging: 36 hours ($2,160)
• Total development hours for Milestone 2: 131 hours ($7,860)

Milestone 3: Auditing and General Testing

• Security audits: 50 hours ($3,000)
• Vulnerability fixing and security measures implementation: 35 hours ($2,100)
• Total development hours for Milestone 3: 85 hours ($5,100)

Milestone 4: Integration and Partnerships

• Integration exploration and collaboration: 40 hours ($2,400)
• Total development hours for Milestone 5: 40 hours ($2,400)

Milestone 5: Frontend Design and Development

• Frontend design and development / UX UI : 85 hours ($5,100)
• Frontend testing and debugging: 35 hours ($2,100)
• Total development hours for Milestone 6: 120 hours ($7,200)

Milestone 6: User Testing and Feedback

• Usability testing: 60 hours ($3,600)
• User feedback gathering and iteration: 50 hours ($3,000)
• Total development hours for Milestone 4: 110 hours ($6,600)

Total development hours: 522 hours ($31,320)

Administrative/Management:

Hour rate: 20 usd

Milestone 1: Project Initiation and Planning

• Project plan and timeline development: 40 hours ($800)
• Total administrative/management hours for Milestone 1: 40 hours ($800)

Milestone 7: Documentation and Release

• Documentation preparation: 20 hours ($400)
• Publication and accessibility: 20 hours ($400)
• Total administrative/management hours for Milestone 7: 40 hours ($800)

Additional administrative/management:

• Project Management: $5,000
• Promotional Videos: $1,000
• Partnerships and Marketing: $1,500

Total administrative/management hours: 270 hours ($8,100).

Total projected budget in dollars: $39,420

Value in ADA (0.28 cents): 140,700

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

All expenses have been estimated using average values, and certain measures have been taken to minimize costs related to research, design, and other less labor-intensive milestones. The proposed costs are calculated based on the prevailing average rates for each position in the team.

The value for money provided by this protocol and its associated tools is significant, taking into account the benefits they offer to other development teams and projects.

[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