RatsDAO I Staking Platform Improvement

[GENERAL] Name and surname of main applicant

Agustin Franchella

[GENERAL] Email address of main applicant

agustinenada@gmail.com

Additional applicants

Agustín Franchella. Rats DAO Co-Founder.

Manuel Padilla. Full-time Haskell & Plutus developer.

Diego Torres. Rats DAO Co-Founder.

Federico Ledesma. 1MATE SPO. Rats DAO Team.

NFTY Rabbit. Rats DAO community lead

JRat. Rats DAO community lead

[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.

Rats DAO staking portal is currently being used by Rats DAO, Onesies NFT project and ALDEA DAO and potentially for many other projects. The platform has some limitations that we want to improve by:

• Creating a Staking Protocol that establishes general parameters for pool contracts. 
• There is no a simple way for DAOs or users to create their own staking pools smart contracts
• Interacting with the Staking smart contracts from outside our platform is not easy.
• Implementing a commission system. 
• Allowing pools to be configured to deliver more than one token in exchange for deposits. 
• Improving the reinvestment of rewards to avoid the loss of seniority and perform the process in a single transaction.
• Improving the reinvestment of rewards to avoid the loss of seniority and perform the process in a single transaction.
• Incorporating an on-chain metadata system.
• Enabling metadata interest calculation in NFTs to enrich pools and gamification. 
• Customizing the name of the deposit token (UD Token) in each pool for a more unique experience.
• Implementing a token blocking and minting contract to overcome token limits on each deposit.
• Improving the management of the site admins wallets through a database to visualize and modify configurations and restrictions.

This will be open sourced and will be a public good for Cardano Blockchain, other projects will be able to use our front end and our staking platform.

Upgrades for V 2.0

Creation of the RATS Staking Protocol

In the current version, the pool contracts are independent and there is no way to set parameters that govern them all. However, when creating a protocol, it is possible to establish an administration context where all pools are included.

Within this context, it is possible to set general recommended parameters and limits for some of the fields required to create a pool. These parameters can serve as guidelines and recommendations for users when creating new pools, helping to maintain a certain coherence and cohesion in the protocol.

Creating Staking Pools

In the current system, there is a significant barrier to entry for users or DAOs who want to create their own staking pools. This complexity discourages many potential pool creators and limits the growth and diversity of the ecosystem.

Our project aims to simplify this process by creating a user-friendly interface for staking pool creation through a REST API. This API will abstract away the complexities of smart contract programming and protocol interaction, providing users and DAOs with a simple, straightforward method for creating their own staking pools.

The API will provide endpoints that allow the client to define parameters for a new staking pool, such as the staking token, reward token, and pool parameters. The user or DAO would make an HTTP request to these endpoints, providing the necessary parameters. The API would then handle the rest, generating the required smart contracts and deploying them to the Cardano blockchain.

This process significantly lowers the barrier to entry, allowing more users and DAOs to participate in the staking ecosystem, and fosters greater diversity in the types of staking pools available. Moreover, it democratizes access to blockchain technologies, enabling a broader user base to leverage the advantages of decentralized finance

Interacting with the Staking smart contracts

Currently, the interaction with the staking smart contracts is largely limited to our platform. This is due to the technical complexity and specialized knowledge required to manually interact with these contracts, including understanding the contract's functions, handling transaction signatures, and dealing with blockchain confirmations. This not only limits the accessibility of our platform but also prevents integration with other services or applications that may want to leverage our staking infrastructure.

With the introduction of the REST API, we aim to simplify and standardize interactions with our staking smart contracts. The API provides a clear and structured way to interact with the contracts, regardless of the client platform or programming language.

By providing clearly defined API endpoints, users can easily interact with the staking pools. For example, endpoints can be used to query pool data, make deposits, withdraw funds, reinvest earnings, and more. These requests are made using standard HTTP protocols, making them accessible from any application capable of making HTTP requests.

Through this enhancement, we aim to ensure that our staking platform is not only more accessible and user-friendly but also primed for integration with the broader blockchain and DeFi ecosystem.

Commission system for the Protocol

In the existing version of the protocol, the financial responsibility lies with Protocols and DAOs that aim to implement a new pool. They are the ones who contribute payment to the Protocol. However, in the upcoming version, we are shifting this payment obligation from the pool creators to the end-users who utilize these pools.

This change opens up new opportunities for staking pool creators. In the new system, not only will they be able to create and maintain their pools but they'll also have the chance to earn commissions from the usage of their pools.

In this updated system, fees will be levied on users' transactions such as deposits, harvests, and withdrawals. The management of these commissions will be delegated to a commission contract. The revenue generated from these commissions will then be distributed amongst the protocol's core team as well as the creators of the staking pools.

The protocol's commission serves multiple purposes. Primarily, it provides the necessary funds to maintain the protocol service and cover fixed expenses. Additionally, it provides the resources to staff a team dedicated to handling user queries. It also paves the way for the development and implementation of both protocol improvements and website upgrades, as well as other activities related to enhancing the user experience and functionality.

To ensure full transparency in the collection and distribution of these fees, all transactions will be recorded through a smart contract. This will give clear visibility of the commission process, reinforcing trust and reliability in the protocol.

Receiving rewards in more than one token

Pools will be able to be configured to deliver more than one token in the form of rewards. In the current version each pool has one investment unit and one reward unit. We want to enrich their functionality by allowing pools to deliver more than one token per deposit, i.e. to have several harvest units, each with its payout coefficient depending on the deposit.

Example: deposit rats and receive Min, Rat and NMKR.

Re-investing rewards

In the current version, when a user wishes to re-invest his rewards in funds he must cash his rewards and create a new deposit with those tokens. However, by doing so, he loses the benefit of the seniority accumulated in his first deposit, since they are considered as new deposits.

The proposed solution consists of modifying the amount of the first investment by adding the tokens without modifying the harvest date, taking full advantage of the seniority of the existing deposits. In this way, the loss of the accumulated seniority is avoided and its effect on the deposits is maximized.

In addition, this solution allows the entire reinvestment process to be performed in a single transaction instead of requiring two separate transactions. 

On-chain metadata

We can achieve this by:

1- Backend signing with a special wallet the metadata in question. This signature is sent together with all these fields in the redeemer and the public key of the wallet used to sign. The contract performs a verification of this signature. If they match you can be sure that the metadata sent in the redeemer is valid.

2- Backend that generates an on-chain datum that the smart contract can then review. It has the complexity of requiring two transactions. One that generates the on-chain datum and the deposit transaction itself. The user must also pay in advance the fee for the transaction to be performed by the backend.

In both cases the backend must have the necessary security to work on its own and sign with a special wallet. 

Set the name of the UD token when creating the pool

We seek to improve the experience by allowing the pool creator to set the name of the token that will be granted as proof of deposit, instead of having a fixed name set in the code as in the current version where we have the so-called User Deposit Tokens (UD). This will allow for greater customization and tailoring of the token to each specific Pool, providing a more unique and personalized experience for users.

Contract bridging between many tokens to a single token

There are currently limits on the number of tokens with the same token but different name that can be added to each deposit. The current limit for our contracts is 20 tokens per transaction and is based on the amount of resources needed to process the transaction, as transactions with a larger number of tokens require more resources.

We propose to implement an alternative token blocking and minting contract. In this contract, the original tokens will be blocked and, in exchange, new tokens with a unique name will be minted. These new tokens will be the ones used for staking, while the original tokens will remain locked and can be retrieved by the original owner in exchange for the tokens received.

Site admin wallet management

There are many functionalities on the site that are restricted to certain wallets and these are currently set in server environment variables. To improve the management of wallets and functionality restrictions on the site, it is proposed to create a database to manage these wallets more efficiently. In this database, it will be possible to visualize and modify the configurations related to wallets and functionality access restrictions.

REST API

To bolster the seamless interaction of users and developers with our platform, we are rolling out an advanced REST API for the staking protocol. This API isn't just an ordinary interface; it is a gateway designed to be leveraged by DAOs to create their own staking smart contracts with increased ease and convenience.

With this REST API, developers and DAOs will have the ability to readily access and retrieve vital data from their staking pools and associated deposits. This includes real-time status, transaction history, and other crucial data that can aid in efficient decision-making. This feature allows DAOs to obtain specific pool details and display them in a manner that suits their platform, contributing to enhanced transparency.

However, the REST API isn't just for fetching data, it's also an enabling tool for meaningful interaction with pools and deposits. Users can perform a variety of actions such as creating new deposits, withdrawing existing ones, or executing various other interactions. Upon processing these requests, the API generates the appropriate transactions and communicates them back to the frontend initiating the API call.

The REST API offers a standardised and universally accessible interface for interacting with our protocol contracts. It's versatile and platform-agnostic, making it easy for developers and DAOs to incorporate the protocol's functionality into their own platforms or applications. Whether it's a web application, a mobile app, or any other client that can communicate with the API, users can initiate API calls from anywhere.

To further streamline the integration process, we are providing pre-built React button components. These encapsulate all the necessary functionality for invoking the REST API. With these components, developers can embed buttons in their user interfaces, initiating the corresponding API calls with a simple click. This simplifies the effort required to interact with our protocol's contracts and enhances the user experience.

Moreover, the REST API also allows DAOs to showcase their pools on any platform they prefer. They can customize the display and interaction with their staking pools based on their unique needs, leading to a more tailored experience for their users.

Testing and QA

We will perform a comprehensive internal testing using Plutus Simple Model and Tasty. This will allow us to perform unit and per-property tests on each of the contracts and redeemers present in our system. We will also be able to simulate real protocol transactions, using multiple contracts in a single transaction. Our approach focuses on defining unit cases and properties to ensure complete coverage, as well as identifying and addressing more complex interactions that can be performed using the protocol. Through these comprehensive tests, we seek to ensure the robustness and security of our protocol.

During the audit process, we will be on the lookout for any vulnerabilities or weaknesses in the design and implementation of contracts and redeemers. Should we find any flaws, we will take the necessary steps to correct them and improve the security of the system. Our ultimate goal is to build confidence in our users and ensure the integrity of our protocol.

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

Our proposed solution to enhance and open source Rats DAO Staking Smart Contracts addresses the challenge of limited availability of open source staking platforms in the Cardano ecosystem. By doing so, it brings several benefits to the Cardano ecosystem:

1. Increased Choice and Accessibility: Opening up Rats DAO Staking Smart Contracts will provide projects and teams with more options to reward the community by staking their project tokens.
2. Innovation and Community Engagement: By open sourcing the smart contracts, we foster collaboration and innovation within the Cardano community.
3. Network Decentralization: A wider range of open source staking platforms encourages the decentralization of the Cardano network.
4. Attracting New Users: The availability of more open source staking options is likely to attract new users to the Cardano ecosystem. This growth in adoption will strengthen the Cardano ecosystem and contribute to its long-term sustainability and success.

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

Measuring the success of our project is multi-faceted, and it involves understanding the direct and indirect benefits that we bring to the Cardano ecosystem. Here is our approach to this task:

Quantitative Metrics:

1. Adoption and Usage: A primary indicator of success is the rate of adoption of our enhanced REST API and the Rats DAO Staking Smart Contracts. By tracking the number of users and DAOs leveraging our system and the volume of staked tokens handled by these contracts, we can assess the degree of acceptance in the community.
2. API Interactions: As part of our new REST API functions, we will monitor the number of requests made to the API for creating, interacting, and managing the staking smart contracts. This serves as a direct measure of its utility and efficiency in the ecosystem.
3. New Staking Pools: We will track the number of new staking pools created via our system as it is an important measure of network growth and our contribution towards it.

Qualitative Metrics:

1. Community Engagement: The involvement of community developers in refining and enhancing the smart contracts is a vital qualitative measure. The frequency and quality of contributions will offer insight into the ecosystem's engagement with our project.
2. User Satisfaction and Feedback: Collecting user opinions and experiences is essential to measure the qualitative aspect of our project. Feedback forms, user interviews, and forum discussions will help us understand how well our services are resonating with users.

In the short term, our project aims to drive innovation within the Cardano ecosystem, boost its productivity through collaboration, and enhance the security and versatility of staking smart contracts. Our REST API and smart contracts are designed to streamline and secure the staking process, encouraging participation from both users and developers.

Over the long term, we expect to see growth in the number of users and DAOs participating in staking, thereby increasing network decentralization. The ease of creating and managing staking smart contracts through our REST API should attract new entrants, strengthening the Cardano network's resilience and growth.

Although every metric may not be quantifiable, the combination of data from usage, community engagement, user feedback, and decentralization trends will give us a holistic understanding of our project's impact on the Cardano ecosystem. We believe these measures are realistic and give us an accurate assessment of both our project's and Cardano's growth trajectories.

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

To share the outputs and results of our project, we have the following plans:

1. Documentation and Open Source Repository: We will create comprehensive documentation on Github that details the enhancements made to the Rats DAO Staking Plutus Smart Contracts.
2. Community Engagement and Education: We will actively engage with the Cardano community through various channels, such as forums, Twiter Spaces, social media platforms, and developer communities.
3. Collaboration and Partnerships: We will seek collaboration opportunities with other projects, dApps, and developers within the Cardano ecosystem.
4. Research and Development: The results generated from the project will serve as valuable inputs for further research and development activities.

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

Rats DAO is one of the first DAOs in Cardano, with a large community. 10,000 minted NFTs and 3,902 holders, a Discord with 6130 members and 10500 followers on Twitter. We currently have a decentralized multi-signature treasury with about 1.5M ADA in assets including some of the most important NFTs of the Cardano ecosystem, such as Clay Nation, SpaceBudz and others, that can be visualized in $RATSDAO AdaHandle (https://pool.pm/$ratsdao).

Our team possesses the necessary capabilities and experience to deliver the project with high levels of trust and accountability. Here are the factors that demonstrate our suitability:

1. Expertise in Smart Contract Development: Our team has extensive experience in smart contract development, including expertise in programming languages, security best practices, and blockchain technologies. Manu Padilla is a Haskell and Plutus Dev with vast experience.
2. Contributions to the Cardano Ecosystem: We have actively contributed to the Cardano ecosystem by participating in community discussions, providing technical support, and collaborating with other projects. Members of our team are Cardano Ambassadors and part of Latam Cardano Community. We are also SPO.
3. Transparent Governance and Reporting: We prioritize transparency and accountability in project management.
4. Solid Financial Management Practices: We have a robust financial management framework in place to ensure the proper management and allocation of funds.
5. Track Record of Trustworthiness: Our team has a history of delivering projects on time and meeting commitment.

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

Our project's primary goals revolve around enhancing and popularizing the usage of ours Staking Smart Contracts within the Cardano ecosystem. Here are our specific objectives and the strategies to validate their achievement:

1. Enhancement of Rats DAO Staking Smart Contracts: The foremost goal of our project is to improve the existing Rats DAO Staking Plutus Smart Contracts to increase their utility, performance, and security.

Validation Approach: The proof of our success lies in the successful deployment and operation of these enhanced smart contracts. This will be demonstrated by the seamless execution of staking operations, as observed through our tracking metrics, and the absence of any critical security or functional issues.

• Open Sourcing the Smart Contracts: We aim to make the enhanced Rats DAO Staking Smart Contracts open-source. This goal is driven by the principles of transparency, fostering community collaboration, and promoting widespread adoption.

Validation Approach: The open sourcing of our smart contracts will be validated by their public availability on a well-recognized open-source platform like GitHub. The validation will further be confirmed by the degree of community participation in terms of contributions to the code, forks of the repository, and other feedback mechanisms available on the platform.

• Implementing REST API Functions: A key objective is to provide REST API functions to enable users and DAOs to interact more easily with the staking smart contracts.

Validation Approach: We'll validate this goal by tracking the usage of the API endpoints. Higher usage indicates increased adoption and a successful implementation.

• Community Adoption and Feedback: Our project is community-centric, and we aim to encourage widespread adoption of our enhanced Rats DAO Staking Smart Contracts among the Cardano community.

Validation Approach: Success in this aspect will be gauged through various methods including user surveys, feedback sessions, and direct community engagement. We'll monitor the rate of user adoption, gather qualitative feedback on user experiences, and keep track of the level of community engagement.

These goals align closely with the demands of our use-case and project, and while some of them may not be quantifiable numerically, we believe that they offer a comprehensive assessment of the project's success. By continuously monitoring these indicators, we can ensure that our approach is yielding the desired outcomes.

[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: Planning and Design (1 Month)

• Identify the key requirements of the new protocol.
• Design the architecture of the new smart contracts.
• Define the features to be incorporated into the REST API and the database system.

Acceptance Criteria: A detailed project plan with identified requirements, finalized architecture designs for smart contracts, and a well-defined feature set for the REST API and the database system.

Milestone 2: Smart Contracts Development - Part 1 (1 Month)

• Develop new features for the Staking Protocol like setting parameters for pool contracts, implementing commission system, delivering more than one token per deposit, and allowing reinvestment of rewards in a single transaction.
• Conduct initial testing of the developed features.

Acceptance Criteria: Successful development and initial testing of the first set of new features for the staking protocol, with all features functioning as per design.

Milestone 3: Smart Contracts Development - Part 2 (1 Month)

• Develop remaining features for the Staking Protocol like metadata interest calculation, on-chain metadata system, token blocking and minting contract, and name customization for the deposit token.
• Conduct internal audits of developed features using Plutus Simple Model and Tasty.

Acceptance Criteria: Completion of all remaining features with no critical issues discovered during internal audits.

Milestone 4: REST API and Database Development & Initial User Feedback (2 Month)

• Develop the REST API to allow interaction with the protocol contracts.
• Develop the database system for managing site admin wallets and functionality restrictions.
• Deploy everything using the testnet and ask for user feedback.

Acceptance Criteria: Successful deployment of the REST API and the database system on the testnet with positive initial user feedback. Any identified issues or areas of improvement must be manageable within the project scope and timeline.

Milestone 5: Refinement and Preparation for Mainnet Launch (1 Month)

• Refine and enhance the system based on user feedback.
• Prepare for the mainnet launch by performing final tests and audits.
• Develop guides on how to implement a custom frontend to the contracts a DAO or community wishes to offer to its members.

Acceptance Criteria: All user feedback addressed, guides for custom frontend implementation completed, and system ready for mainnet launch, with all final tests and audits passing.

Milestone 6: Final Deployment and Marketing (1 Month)

• Deploy everything using the mainnet and conduct final testing.
• Communicate and market the new protocol to users and other DAOs.
• Monitor the deployment for potential issues or bugs and address them promptly.

Acceptance Criteria: Successful mainnet deployment with all final tests passing, successful marketing initiatives with positive user and DAO feedback, and prompt resolution of any identified issues post-deployment.

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

Milestone 1: Planning and Design

• Deliverables: Detailed project plan, smart contract architecture design, feature set for REST API and database system.
• Intended Outcomes: Clear project roadmap, well-defined smart contract design, and a set of features to be incorporated into the REST API and database system.
• Tracking Progress: We'll measure progress by tracking the completion of each deliverable against the project plan timeline.

Milestone 2: Smart Contracts Development - Part 1

• Deliverables: Developed and tested features for the Staking Protocol such as pool contract parameters, commission system, multiple tokens per deposit, and reward reinvestment.
• Intended Outcomes: Enhanced Staking Protocol with new features that facilitate more efficient staking operations.
• Tracking Progress: Progress will be tracked through the successful completion and testing of each new feature.

Milestone 3: Smart Contracts Development - Part 2

• Deliverables: Remaining features of the Staking Protocol like metadata interest calculation, on-chain metadata system, token blocking and minting contract, and name customization for the deposit token. Internal audit reports using Plutus Simple Model and Tasty.
• Intended Outcomes: Completion of all features for the Staking Protocol, with no critical issues identified in the internal audits.
• Tracking Progress: Completion of all the features and successful internal audits would mark the progress for this milestone.

Milestone 4: REST API and Database Development & Initial User Feedback

• Deliverables: Developed REST API for protocol contract interaction, database system for managing site admin wallets and functionality restrictions, user feedback report from testnet deployment.
• Intended Outcomes: A functional REST API and database system, with positive user feedback indicating successful testnet deployment.
• Tracking Progress: Development and successful deployment of REST API and database system, along with user feedback, will measure the progress.

Milestone 5: Refinement and Preparation for Mainnet Launch

• Deliverables: Refined system based on user feedback, preparation for mainnet launch with final tests and audits, and guides for custom frontend implementation.
• Intended Outcomes: A fully refined system ready for mainnet launch, with guides for the community to implement custom frontend.
• Tracking Progress: User feedback resolutions, successful mainnet preparation, and the completion of guides would mark the progress for this milestone.

Milestone 6: Final Deployment and Marketing

• Deliverables: Mainnet deployment of the protocol, communication and marketing materials for users and DAOs, bug tracking and resolution report.
• Intended Outcomes: A fully functional protocol on the mainnet with successful marketing to users and DAOs, and prompt resolution of any identified issues post-deployment.
• Tracking Progress: Successful mainnet deployment, effective marketing initiatives, and resolution of any post-deployment issues will measure the progress for this milestone.

Measuring Project Progress:

1. Completion of Milestones: Tracking the completion of each milestone according to the specified timeline
2. Codebase Enhancements: Assessing the number of new functionalities added to the smart contracts and their successful integratio
3. Documentation Quality: Evaluating the comprehensiveness and clarity of the documentation produced for each mileston
4. Community Engagement: Monitoring the level of community engagement, such as the number of contributions, feedback received, and active participation in discussion
5. User Adoption: Tracking the number of users who adopt the enhanced smart contracts for staking purpose
6. User Feedback and Satisfaction: Conducting surveys and feedback sessions to gather qualitative data on user satisfaction, user experience, and suggestions for improvemen

These measures will provide insights into the progress and impact of the project, ensuring that the goals and objectives are being achieved effectively.

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

This are the roles we need:

• Project Manager:

The project manager will oversee the entire project, ensuring that the team meets deadlines and stays within budget. He will also be responsible for coordinating the team and managing any risks or issues that arise during the project.

• Technical Architect:

Designs and oversees the technical aspects of software projects, including system architecture, technology selection, and performance optimization. He provide technical guidance, integrate system components, and ensure alignment between business requirements and technical solutions.

• Blockchain Developer:

This person will be responsible for designing and developing the smart contracts and Staking Protocol. He will also be responsible for addressing any issues that arise during testing and deployment.

• Web Developer:

The Web Developer will have both front and back end responsibilities. He will create the REST API and the database system. Also, He will work on integrating the new smart contracts into the staking platform, ensuring a seamless user experience. 

• DevOps:

Handles the deployment, automation, and maintenance of the project infrastructure. He sets up and manages development environments and ensures smooth deployment and integration of the project components.

• QA Tester:

The QA Tester will conduct comprehensive testing throughout the project to identify any issues or bugs in the protocol, the smart contracts, REST API and the web. He will work closely with the developers to ensure that the developed systems function as expected. He will identify potential vulnerabilities and recommend fixes.

• Marketing and Communications Specialist:

This person will plan and execute the pre-launch and post-launch communication and marketing efforts. They will also be responsible for reaching out to other DAOs to encourage them to use the platform.

Milestone 1: Planning and Design

Project Manager: 40 hours * 100 ADA per hour = 4,000 ADA

Blockchain Developer: 40 hours * 200 ADA per hour = 8,000 ADA

Technical Architect: 60 hours * 133 ADA per hour = 8,000 ADA

Web Developer: 20 hours * 200 ADA per hour = 4,000 ADA

Subtotal: 24,000 ADA

Milestone 2: Smart Contracts Development - Part 1

Project Manager: 10 hours * 100 ADA per hour = 1,000 ADA

Blockchain Developer: 120 hours * 200 ADA per hour = 24,000 ADA

QA Tester: 40 hours * 133 ADA per hour = 5,333 ADA

Subtotal: 30,333 ADA

Milestone 3: Smart Contracts Development - Part 2

Project Manager: 10 hours * 100 ADA per hour = 1,000 ADA

Blockchain Developer: 120 hours * 200 ADA per hour = 24,000 ADA

QA Tester: 40 hours * 133 ADA per hour = 5,333 ADA

Subtotal: 30,333 ADA

Milestone 4: REST API and Database Development & Initial User Feedback

Project Manager: 20 hours * 100 ADA per hour = 2,000 ADA

Web Developer: 100 hours * 200 ADA per hour = 20,000 ADA

QA Tester: 40 hours * 133 ADA per hour = 5,333 ADA

DevOps: 40 hours * 133 ADA per hour = 5,333 ADA

Subtotal: 32,667 ADA

Milestone 5: Refinement and Preparation for Mainnet Launch

Project Manager: 30 hours * 100 ADA per hour = 3,000 ADA

Blockchain Developer: 50 hours * 200 ADA per hour = 10,000 ADA

Web Developer: 50 hours * 200 ADA per hour = 10,000 ADA

QA Tester: 20 hours * 133 ADA per hour = 2,667 ADA

DevOps: 30 hours * 133 ADA per hour = 4,000 ADA

Subtotal: 25,667 ADA

Milestone 6: Final Deployment and Marketing

Project Manager: 30 hours * 100 ADA per hour = 3,000 ADA

Marketing and Communications Specialist: 40 hours * 67 ADA per hour = 2,667 ADA

QA Tester: 25 hours * 133 ADA per hour = 3,333 ADA

DevOps: 30 hours * 133 ADA per hour = 4,000 ADA

Subtotal: 13,000 ADA

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

The cost of the project represents value for money for the Cardano ecosystem due to several factors:

• Expertise and Experience: The project team comprises experienced professionals with a strong background in blockchain technology and software development, specifically on the Cardano blockchain.

• Competitive Market Rates: The costs outlined in the budget breakdown are based on competitive market rates for software development, testing, documentation, and community engagement service.

• Proportional Budget Allocation: The budget allocation carefully considers the project's requirements and the resources needed to achieve the desired outcome.

• Value of Open Source Contributions: By open-sourcing the Rats DAO Staking Smart Contracts, the project brings significant value to the Cardano ecosystem

• Impact on Community Engagement: The project budget includes funds for community engagement activities, such as promotional materials, user feedback surveys, and a community engagement report

Overall, the project's cost represents value for money by leveraging the team's expertise, allocating resources appropriately, contributing to the open-source community, and driving community engagement within 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