Scaling TapTools

[GENERAL] Name and surname of main applicant

Alec Myers

[GENERAL] Email address of main applicant

alec@taptools.io

Additional applicants

James Cadena (james@taptools.io)

[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?

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.”

N/A

[METADATA] Category of Proposal

Data, Explorers, Trackers

[IMPACT] Please describe your proposed solution.

Perception of the Problem: We see the current issue as a significant barrier to adoption and user experience in the Cardano ecosystem. Users lack an integrated tool that provides a comprehensive view of their Cardano portfolio across multiple protocols, coupled with advanced analytics.

Our Approach: To address this, we aim to enhance TapTools, integrating additional protocols, such as Indigo, Liqwid, Djed Stablecoin, Optim Finance, Lenfi, LevvyFi, Fluid Tokens, and Lending Pond. We also plan to implement features such as basic alerts, smart alerts, a mobile application, and TapScan. These additions not only provide a more holistic portfolio view but also supplies insightful analytics to inform user decisions. Our solution is designed with the user in mind, focusing on enhancing accessibility and usability.

Engagement: Our project will engage the entire Cardano community - from beginners to experienced users, and developers to investors. By creating an integrated and user-friendly environment, we'll facilitate increased participation in the Cardano ecosystem.

Proving Impact: We will measure our impact through metrics such as user growth rate, user engagement levels, and user feedback. Regular updates on these metrics will help us continually improve the tool.

Uniqueness and Benefits: Our solution is unique as it aims to create a unified platform that combines portfolio management with advanced analytics, bringing together various Cardano protocols. Cardano community members will benefit from an improved experience, more information for decision-making, and additional data from newly integrated protocols.

Importance to Cardano: This project is critical for Cardano as it can boost ecosystem engagement, facilitate informed investment decisions, and potentially drive wider adoption of the Cardano blockchain.

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

Our proposed solution directly addresses the challenge of providing comprehensive, easy-to-use tools for Cardano portfolio management and decision-making. By integrating various protocols and features within TapTools, we aim to deliver an all-in-one platform where users can manage their investments, track performance, and garner valuable insights seamlessly.

Increased Adoption: By creating an all-in-one, user-friendly platform for managing Cardano investments, we aim to attract new users, thereby expanding the Cardano ecosystem and its user base.

Enhanced User Experience and Empowerment: The integration of various protocols and features in TapTools provides a single point of access for portfolio management, simplifying the experience for users. Moreover, features such as alerts, a mobile application, and TapScan will empower users by giving them more control and insight into their investments. The result is a more accessible and efficient user experience, which can attract both novices and seasoned Cardano users.

Informed Decision-Making: Our solution will provide users with advanced analytics, improving their understanding of market trends and their portfolio's performance. These insights enable better-informed investment decisions, fostering a healthier, more dynamic ecosystem.

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

The success of our project will be measured using both quantitative and qualitative metrics:

User Growth: The growth of our user base is a key measure of our success. Our goal is to achieve significant expansion by attracting new users and building upon our existing base of more than 300,000 users.

Engagement Metrics: We will monitor average engagement time and event counts. An increase in these metrics will demonstrate that users are finding the additional features and integrations valuable and are more active on the platform.

User Retention: We will track user retention rates. High retention will show that our platform is not only attracting users but also keeping them engaged over time, which is crucial for sustainable growth.

User Feedback: We will track user feedback and comments across various channels to understand their satisfaction level, identify any potential issues, and assess the perceived usefulness and usability of the enhanced TapTools.

Community Engagement: We will track engagement across social media and forums to gauge the broader community's perception of our project.

These measures are realistic given our existing user base, previous growth rates, and the anticipated value of an enhanced TapTools.

In the short term, this innovation will attract new users and increase activity within the Cardano ecosystem by making it more accessible and user-friendly. In the long run, as users become more informed through TapTools, we anticipate a flourishing and engaged Cardano community. This will contribute to the overall growth and reputation of Cardano within the blockchain industry, solidifying its position as a leading platform.

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

Our goal extends beyond merely creating an enhanced tool—we are committed to ensuring its widespread reach and benefit for the Cardano ecosystem. Regular updates will be shared via our website, Twitter, and Discord, which will not only inform the community about our progress but also about key milestones, challenges, solutions, and insights on user growth and engagement. We plan on actively engaging across various social platforms, sharing a mix of project developments, user experiences, and content regarding TapTools' benefits and usage. We also aim to form strategic collaborations and partnerships with other projects and platforms within the Cardano ecosystem to promote mutual growth and expand our reach. This approach not only allows us to share our tools and insights but also enhances user experiences across the ecosystem. In terms of future research and development, the insights and feedback garnered from this project will prove crucial. We will gain a deeper understanding of user behaviors, preferences, and needs, informing future improvements to TapTools and the development of new tools. Ultimately, we see this project as a foundation for continuous innovation and improvement, geared towards empowering the Cardano community in its entirety.

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

Our team at TapTools has a proven track record, with successful implementation of the Fund 9 Project Catalyst. This project demonstrated our commitment to transparency, trust, and accountability.

Our abilities are reinforced by the diverse skill sets of our team, who are well-versed in blockchain technology, software development, project management, and customer relations.

Our experience allows us to deliver complex projects effectively within stipulated timelines.

During Fund 9, we demonstrated our capability to manage funds properly. We pledge to continue with the same level of financial diligence and transparent reporting for this project.

Finally, our shared belief in Cardano's mission motivates us to enhance its ecosystem and offer the community genuine value. This, combined with our technical and project management skills, makes us uniquely suited to deliver this project.

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

For the Scaling TapTools project, our main goals revolve around elevating functionality, boosting user engagement, expanding the user base, and enhancing the overall user experience. This will be achieved by integrating additional protocols and features into TapTools, creating a comprehensive platform for portfolio management and advanced analytics. By fostering increased user engagement, we anticipate higher page visits and extended viewing time. Moreover, our project timeline includes targeted efforts to grow our current user base, extending the reach and impact of TapTools within the Cardano ecosystem. As part of this initiative, we are developing the TapScan tool and a mobile application, further empowering users to manage their portfolios and access TapTools' features seamlessly on their preferred devices. Through these endeavors, we aim to strengthen the Cardano community, facilitate its growth, and solidify Cardano's position in the blockchain industry.

Our success will be validated through tangible metrics. Successful deployment of each feature on taptools.io will confirm our enhanced functionality. We will measure user engagement through analytics that show the average time users spend on TapTools and their interactions with different features. Expansion of the user base will be monitored via new sign-ups and active users. Lastly, by gathering and analyzing user feedback and interaction patterns, we can gauge and continuously improve the user experience.

[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:

Key activity: Integrate Protocols

Timeline: 7 Months

Budget: $35,000 (₳110,000)

Milestone 1, expected to span over a timeline of 7 months, primarily focuses on the integration of diverse protocols. This key activity broadens our platform's functionality, allowing users to monitor a wider range of portfolio positions.

Current Protocols Integrated:

Minswap: farming positions, and trading activity

SundaeSwap: farming position and trading activity

MuesliSwap: staking, vault, farming positions, and trading activity

VyFinance: staking vaults, farming positions, and trading activity

WingRiders: staking, farming positions, and trading activity

Yummi Universe: staking positions

Mutant Labs: staking positions

LQ (Liqwid): Staking: governance staking

INDY (Indigo): governance staking

CNETA: staking positions 

Genius Yield: vaults (GENS, NMKR, EMP, NTX)

In the pipeline, we have a list of potential additions, including Indigo, Liqwid, Djed Stablecoin, Optim Finance, Lenfi, LevvyFi, Fluid Tokens, and Lending Pond. The successful integration of these protocols within the specified timeline will be our measure of achievement for this milestone.

Milestone 2:

Key activity: Mobile Application (iOS & Android)

Timeline: 3 Months

Budget: $30,000 (₳95,000)

Milestone 2 is aimed at the development of a mobile application for both iOS and Android platforms and is expected to be completed within 90 days. This is in response to our user base habits, with approximately 65% accessing our services daily via mobile devices. The successful launch of a mobile application will offer a user-friendly interface and improve accessibility for our users. A critical feature that we aim to include in the mobile application is push notifications, providing real-time updates and personalized alerts. Completion of this milestone, as indicated by the successful launch of the mobile application and the positive response from our user base, will represent significant progress toward our project's larger objectives.

Milestone 3:

Key activity: Basic/Smart alerts

Timeline: 3 Months

Budget: $25,000 (₳79,000)

Milestone 3 is centered on implementing a tailored alert system, adding another layer of personalization and user control to our platform. In our approach, we aim to incorporate alerts for price shifts in Cardano native assets and specific wallet activities. Our implementation strategy comprises a series of defined tasks including design, development, testing, and refinement over a period of three months. The successful execution and user adoption of this feature, gauged through active usage metrics and user feedback, will mark the completion of this milestone. 

Milestone 4: 

Key activity: Blockchain Explorer

Timeline: 3 Months

Budget: $20,000 (₳63,000)

Milestone 4 involves the development of 'TapScan,' a simplified transaction verification tool designed for the average user. We aim to eliminate the need for our users to navigate to external links for transaction validation, instead offering an integrated, easy-to-understand version within TapTools. The design and development of TapScan will include stages of ideation, creation, testing, and iterative refinement over a projected timeline of three months. The successful completion of this milestone will be signaled by the successful launch of TapScan and its active utilization by our users, essentially making TapTools a more comprehensive platform.

In conclusion, these milestones will collectively enhance TapTools, fostering a more comprehensive, accessible, and user-friendly platform for the Cardano community.

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

Our project will deliver a set of well-defined outputs and outcomes at each milestone.

Milestone 1: The primary deliverable is the integration of additional protocols into our platform. The output is a more versatile tool that accommodates an increasing number of DeFi protocols. The outcome is improved functionality for our users and broader coverage of the DeFi landscape. Progress will be measured by the successful integration of each additional protocol.

Milestone 2: The deliverable is a mobile application for iOS and Android, with the output being the app itself. The intended outcome is to provide a more accessible and user-friendly experience for mobile users. Success will be measured by the completion of the app and its subsequent user adoption rates.

Milestone 3: The deliverable here is a customized alert system for price movements and wallet activity. The output is the alert system, and the outcome is an enhanced user experience with more personalized and actionable information. Progress will be tracked by the successful implementation of the alert system and user feedback.

Milestone 4: The key deliverable is 'TapScan', an easy-to-understand transaction verification tool embedded within TapTools. The output, TapScan itself, is expected to make transaction verification more accessible to the average user, eliminating the need for external links. The intended outcome is to provide a more integrated and user-friendly experience, fortifying TapTools as an all-in-one platform. We will track progress through the various development stages of TapScan, and measure success by its active utilization and user satisfaction post-launch.

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

Milestone 1: Integration of Protocols - $35,000

This budget is largely allocated towards the cost of development efforts required to successfully integrate the protocols onto our platform, a key enhancement in our service provision. This includes payments to our developers, compute power, cloud storage, and any additional software required for successful integration. There are no anticipated third-party services involved in this milestone. Costs also account for project management, documentation, and community communication updates regarding the integrations. Our measure of achievement for this milestone is the successful integration of the additional protocols, visibly expanding our platform's functionality.

Milestone 2: Mobile Application Development (iOS & Android) - $30,000

The primary budgetary allocation for this milestone goes toward the design and development of the mobile application. This includes remunerations for our development team, app testing, and increased server capacity. The budget also incorporates project management to ensure the development process runs smoothly and within the set timeline.

Milestone 3: Implementation of Basic/Smart Alerts - $25,000

The majority of this budget will be utilized in developing the alert system, paying for the developers' time, and software or tools required for implementing this feature. Additionally, funds are allocated to project management and design team efforts.

Milestone 4: Blockchain Explorer (TapScan) Development - $20,000

This budget segment primarily covers the costs of designing and developing TapScan, including front-end and back-end developers, as well as the design team. Expenditure includes developer payments, licensing of necessary tools, testing, and refinement. Project management ensures smooth progress and coordination throughout the development process.

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

Our project's budget primarily caters to three key expenditures: server hosting, data cloud storage, and labor. The costs for server hosting and data cloud storage ensure that our platform remains accessible, secure, and sustain a growing volume of data which is essential for the advanced analytics we offer. Designating funds for labor ensures we can retain a team of professionals who are dedicated to enhancing the TapTools platform.

Unlike many projects, we do not allocate a budget towards marketing. Instead, our social media and community managers, included within our labor expenses, handle these tasks. Their dedicated efforts ensure our users are continuously updated, actively participating, and optimally engaged, without the need for high-cost marketing campaigns.

Based on the value that TapTools brought to the Cardano community during the Fund 9 round, we strongly believe that our current budget represents excellent value for money. The tangible benefits of our project in terms of enhanced user experience, advanced analytics, and community engagement reaffirm this value proposition. We continue to strive to maximize the impact of every dollar spent to benefit the Cardano ecosystem at large.

[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