T Minus One (T-1): Token Creator Platform for Cardano

[GENERAL] Name and surname of main applicant

Niels Mündler

[GENERAL] Email address of main applicant

niels@tminusone.pro

Additional applicants

Steven Ward

Igor Jerkic

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

8

[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 Smart Contracts will be fully open source for the sake of auditability and trust.

The Backend and Frontend code, which contains important IP and is not relevant for auditability through the public will be closed source.

[METADATA] Category of Proposal

dApp

[IMPACT] Please describe your proposed solution.

The Cardano ecosystem, despite its robust and innovative blockchain infrastructure, faces challenges in the area of token creation and initial sales. The current process can be complex, requiring a deep understanding of smart contracts and token economics. This complexity can lead to errors and inefficiencies, and in some cases, it may even open the door to malpractice. Furthermore, the lack of a standardized, transparent, and user-friendly platform for managing these processes can deter potential innovators and entrepreneurs from launching their tokens on Cardano. This situation presents a barrier to the growth and diversification of the Cardano ecosystem.

T Minus One (T-1) - A decentralized platform to improve the baseline for seamless, secure & verified project launches

T-1 aims to bring structure and integrity to the Cardano token launch landscape. Our platform simplifies token creation/minting and initial sales, ensuring optimal minting policies, correct decimal handling, and systematic distribution into vesting and ITO contracts. Additionally, our platform's smart contracts oversee post-sale liquidity provision on decentralized exchanges, eliminating potential malpractice.

T Minus One will be a marketplace for investors looking to support projects that commit to transparency and the decentralized values in crypto. For innovators, those that create tokens, it creates a no-code and standardized solution to easily adopt Cardano as the underlying tech for their ideas.

T-1 will release functional prototypes frequently and make sure that users can play with intermediate results to create an engaging and insightful growth journey. We will share updates and release results on preproduction testnet as soon as possible for the public to assess our progress.

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

Our solution, T-1, directly addresses the "Products & Integrations" challenge by developing a product that simplifies and enhances the process of token creation and initial sales on the Cardano network. By providing a structured, transparent, and efficient platform, we are creating a product that not only integrates seamlessly with the Cardano ecosystem but also expands its use cases.

T-1's platform will serve as a key integration point for individuals and organizations looking to launch their tokens on Cardano. By handling all aspects of token creation, from minting policies to initial sales and liquidity provision, we are offering a new use case for the Cardano blockchain and contributing to its utility and versatility.

Furthermore, by eliminating potential malpractice and fostering trust and integrity, our solution enhances the overall user experience and encourages more users to adopt and engage with the Cardano network. This aligns with the challenge's goal of developing or improving products that offer more use cases to the Cardano community.

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

The following will be measure to assess the projects benefits:

• Projects launched with correctly implemented CIP standards
• General perception of "How easy is it to get (my project) started on Cardano?"
• Number of Smart-Contract, fully decentralized conducted token sales

These measurements are directly relevant for the ecosystem as a whole and we expect them to correlate with the products provided by T-1.

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

T-1 will release functional prototypes frequently and make sure that users can play with intermediate results to create an engaging and insightful growth journey. We will share updates and release results on preproduction testnet as soon as possible for the public to assess our progress.

Moreover, the Smart Contract code is released on a regular basis on the GitHub account of T Minus One and can be publicly assessed.

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

The T-1 team brings together a unique blend of skills and experiences that make us well-equipped to tackle the challenges of token creation and initial sales on the Cardano network.

Laura, our Strategy & Communication Lead, holds a PhD in Management and has extensive experience in IT project management. She is actively involved in the Cardano community and is passionate about building strong connections and providing insights through her newsletter. Her strategic insights and communication skills are invaluable in driving T-1's initiatives and engaging with our user base.

Igor, the enabler and executor behind T-1, is the founder of Dionysus pool and an IT expert. He has a deep understanding of the Cardano ecosystem and is passionate about promoting Cardano for wider acceptance. His technical expertise and passion for Cardano are key to the development and execution of T-1's platform.

Niels, our Smart Contract Builder, is the founder of OpShinDev and Co-Founder of MuesliSwapTeam. He is helping Cardano evolve with Python-based smart contracts. Niels is driven by the passion to empower others with accessible development tools and decentralized applications. His expertise in smart contract development is crucial in building and maintaining the smart contracts that underpin our platform.

Together, our team's diverse skills and experiences, combined with our deep understanding of the Cardano ecosystem, position us to successfully deliver on our proposal.

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

The overall goal of T Minus One is to create a simple tool that raises the bar on token minting, sales and LBE standards with respect to decentralization and trustlessness. T Minus One wants to become the go-to solution for these tasks and become synonymus with a proper launch on Cardano.

[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.

Our detailed plan for the T-1 project is outlined as follows:

Q2 2023: Initiation Phase

• Kick-off: Initiation of Initial Token Offering (ITO) leveraging Smart Contract (SC) capabilities.
• Implementation of token minting processes, inclusive of Team Vesting mechanisms.
• Undertake exhaustive market research to discern prospective opportunities and potential hurdles.
• Generate detailed documentation encapsulating the project's vision, objectives, and technical stipulations.
• Develop a website to exhibit project specifics and track progression.

Q3 2023: Development Phase

• Introduction of verified tokenomics to establish a robust economic model for T-1.
• Establishment of strategic partnerships and collaborations, enhancing the platform's ecosystem.
• Deployment of vesting mechanisms for third parties, providing benefits for existing projects on the platform.
• Automatic liquidity provision at leading protocols, ensuring efficient token trading.
• Allocate resources and funds to expand the user base.
• Deploy and disseminate internal tools that aid ITOs, compute tokenomics, and set up staking services.

Q4 2023: Evolution Phase

• Enhance the dashboard by incorporating new features and functionalities, focusing on user experience enhancements.
• Introduction of tiered structures analogous to those present for ERC20 tokens, providing a range of options for stakeholders.
• Broaden services to assist multiple facets of the ITO procedure, supporting applicants and other initiatives in areas like marketing, design & video, development, and more.
• Constitute a dedicated development team to help other developers and initiatives in exploring the Cardano development and coding domain.
• Overhaul the platform and website to enhance user experience, aiming to make the platform more intuitive and user-friendly.

Our roadmap is designed to gradually unfold the complete potential of T-1, with each quarter bringing us a step closer to our ultimate goal of making launching a token on Cardano an effortless process. We will continue to refine and expand our services based on user feedback and market trends.

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

Q2 2023: Initiation Phase

• MVP for token minting on preproduction testnet
• Smart Contracts draft for the entire process

Q3 2023: Development Phase

• Mainnet release of token minting service
• MVP of token ITO and LBE on preproduction testnet
• Smart Contract Audits
• Governance platform for TM1 token holders

Q4 2023: Evolution Phase

• Mainnet release of all announced features
• Gradual and periodic release of new features upon popular demand

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

The requested funding of $ADA 124,020 will be allocated over the next 8 months as follows:

One-Time Costs:

• Legal consultation: $7,500 ~ $ADA 22,500
• Company formation: $1000 ~ $ADA 3000
• Initial design (website draft and logo): $1000 ~ $ADA 3000
• Complete website development: $10,000 ~ $ADA 30,000
• Contract Audits: $15,000 ~ $ADA 45,000

Monthly Costs:

• Design (continuous website design of sections, Social Media, Mobile Design): $440 x 8 = $3,520 ~ $ADA 10,560
• Marketing costs: $415 x 8 = $3,320 ~ $ADA 9,960

This leads to an overall budget request for a 8-month time period of: $ADA 124,020

Please note that this budget breakdown does not include any monetary compensation for the team. The entire budget is dedicated to the development, launch, and marketing of the platform. This demonstrates our commitment to the project and our belief in its potential to contribute significantly to the Cardano ecosystem.

Note: 

It's important to highlight that this project is not starting from scratch. We have already made significant progress, including the development of a design and a testnet token creator. We have also identified the necessary personnel to carry out the rest of the development work. This means that upon receiving funding, we are ready to hit the ground running and start implementing our plan immediately. This readiness reduces the risk associated with the project and increases the likelihood of successful and timely delivery.

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

The requested funding of $ADA 124,020 will be allocated over the next 8 months as follows:

One-Time Costs:

• Legal consultation: $7,500 ~ $ADA 22,500
• Company formation: $1000 ~ $ADA 3000
• Initial design (website draft and logo): $1000 ~ $ADA 3000
• Complete website development: $10,000 ~ $ADA 30,000
• Contract Audits: $15,000 ~ $ADA 45,000

Monthly Costs:

• Design (continuous website design of sections, Social Media, Mobile Design): $440 x 8 = $3,520 ~ $ADA 10,560
• Marketing costs: $415 x 8 = $3,320 ~ $ADA 9,960

This leads to an overall budget request for a 8-month time period of: $ADA 124,020

Please note that this budget breakdown does not include any monetary compensation for the team. The entire budget is dedicated to the development, launch, and marketing of the platform. This demonstrates our commitment to the project and our belief in its potential to contribute significantly to the Cardano ecosystem.

Note: 

It's important to highlight that this project is not starting from scratch. We have already made significant progress, including the development of a design and a testnet token creator. We have also identified the necessary personnel to carry out the rest of the development work. This means that upon receiving funding, we are ready to hit the ground running and start implementing our plan immediately. This readiness reduces the risk associated with the project and increases the likelihood of successful and timely delivery.

[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