Expanding Unified Open-Source DEX Analytics for Cardano

[GENERAL] Name and surname of main applicant

MuesliSwap Team

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

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

5

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

We will expand our open-source DEX analytics to track liquidity, detect advanced trading techniques, analyze whale behavior, and provide deeper insights into DeFi for research and fact-checking.

[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] Please provide here more information on the open source status of your project outputs

Our project will be fully open-source throughout its lifecycle. We will use the MIT License, ensuring broad use and contribution from the community. All code, including DEX analytics tools, transaction analysis, and data models, will be hosted in a public GitHub repository

[METADATA] Horizons

Developer Tools

[SOLUTION] Please describe your proposed solution

DEX analytics should be transparent and accessible to all Cardano users, not just development teams. Our solution will democratize access by creating an open-source tool that parses DEX data from the blockchain and stores it in a local database, accessible via a REST API. This Catalyst project builds on our previous proposal, where we developed general-purpose analytics for all DEXs, and we now plan to extend this tool with advanced features and enhanced tracking capabilities.

The tool will offer insights into trades, liquidity pool movements, whale activity, and advanced trading techniques like arbitrage and sandwich attacks. Additionally, it will provide complete analytics on DEX performance, including TVL, daily volume, active users, top tokens, and the average time to fulfill transactions. It will also help fact-check any information provided by Cardano DEX projects to ensure full transparency and accurate reporting across the ecosystem.

The unique aspect of our solution is that it will cover all major Cardano DEXs, providing a comprehensive, unbiased view of activity in real time. This tool will empower users to make informed governance and trading decisions based on transparent data.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

Our project will provide the Cardano community with an open-source DEX analytics tool, offering real-time insights into trading activity, liquidity movements, whale behavior, and DEX performance. This transparency will help users make informed decisions in governance and DeFi participation, while also supporting developers and researchers.

We will measure impact through user adoption, API usage, and community contributions. Feedback from users and collaboration with other projects will help gauge qualitative impact. All outputs will be shared via a public GitHub repository, social media, and documentation.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

We have a proven track record, having successfully delivered various Catalyst projects focused on general DEX analytics and Cardano DeFi in general. Our team consists of experienced developers with deep knowledge of Cardano, DeFi, and blockchain data analysis. We have already built and maintained open-source tools, demonstrating technical competence and transparency.

To ensure feasibility, we will build upon our existing framework, using well-established development practices like continuous integration and testing. Regular updates will be shared with the community, and funds will be managed responsibly through transparent reporting and adherence to budget milestones.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Milestone Outputs

• Extend analysis of DEX smart contracts to include liquidity deposit/withdrawal transactions

Acceptance Criteria

• A completed report detailing the analysis of smart contracts as described above.

Evidence of Milestone Completion

• The analysis report is published and accessible to the community.
• Announcement on the MuesliSwap X page linking to the report

Milestone Outputs

• Refactoring and documentation of essential code from our existing closed-source system to an open-source repository

Acceptance Criteria

• Documentation outlining the database schema and API endpoints

Evidence of Milestone Completion

• Link to GitHub repository containing the working codebase
• Documentation of the API/Database schema as part of the GitHub repository

Milestone Outputs

• Development of additional endpoints that provide easy access to the analytic features described above (DEX overviews, arbitrage/price manipulation detection, whale spotting)

Acceptance Criteria

• Improved support for existing DEX protocols with enhancements based on findings from the previous milestone (such as handling all transactions correctly without heuristics where possible)
• Fully functional analytics API with the advanced features described above (DEX statistics, price manipulation/advanced trade technique detection, whale spotting).

Evidence of Milestone Completion

• Link to GitHub repository containing the working codebase
• Documentation of the API/Database schema as part of the GitHub repository

Milestone Outputs

• Deployment scripts and performance enhancements to ensure straightforward installation and operation for most (technical) users
• Implementation of basic tests to ensure the software work correctly and reliably
• Inclusion of additional advanced analytical features, depending on feedback received from Cardano developers 

Acceptance Criteria

• The software can be easily installed and used by the average Cardano developer
• The new API accurately detects specific types of transactions and DEX interactions

Evidence of Milestone Completion

• Updated codebase reflecting new features and fixes in the GitHub repository
• Basic test suite, with reports showing pass rates
• Examples on the advanced transaction analysis features, provided in the documentation
• Final project close-out report
• Final project close-out video

[RESOURCES] Who is in the project team and what are their roles?

Our project team comprises experienced professionals who have been integral to the success of MuesliSwap and have delivered several Catalyst projects successfully:

• Chris - Project Manager: Chris oversees project execution, coordinates between team members, and ensures timely completion of milestones. He will manage the project's timeline, resources, and communication, keeping the team aligned with the project goals and leads the Catalyst milestone submission.
• Pasi - Off-chain Developer: Pascal develops off-chain components, including advanced DEX analytics. He will focus on extending the analytics tool, implementing advanced features, and ensuring seamless interaction with the existing tools.
• Philip - On-chain Developer: Philip has significant knowledge in the Cardano DEX ecosystem and helps us understand the logic of all respective DEX smart contracts. He will analyze and interpret smart contracts of various DEXs to facilitate accurate data parsing and analytics.
• Pat - Backend Developer: Patrick contributes to the development of the backend infrastructure, ensuring seamless integration of the analytics tool with blockchain data. He will work on database management, API development, and implementing advanced analytics tools.

All team members are fully committed to this project and have the capacity to support its successful completion. In addition, we are willing to on-board more team members to help with the successful development and completion of the project.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Our total budget request is 112,000 ADA, which will be allocated to cover the development, documentation, and deployment of the extended DEX analytics tool across the four milestones.

• For the first milestone, extending the analysis of DEX smart contracts to include liquidity deposit and withdrawal transactions, we have allocated 28,000 ADA. This covers the resources needed for in-depth smart contract analysis and the production of a comprehensive report.
• The second milestone involves refactoring and documenting essential code from our existing system into an open-source repository. We have allocated 24,000 ADA for this phase, which includes developer time for code refinement and creating detailed documentation of the database schema and API endpoints.
• For the third milestone, which focuses on developing additional API endpoints to provide access to advanced analytics features like DEX overviews, arbitrage and price manipulation detection, and whale spotting, we have allocated 32,000 ADA. This reflects the complexity of implementing these advanced features and ensuring they function correctly across all supported DEX protocols.
• The fourth milestone aims to enhance performance, implement deployment scripts for straightforward installation, and include basic tests to ensure reliability. We have allocated 20,000 ADA for this phase, covering the development of installation scripts, performance optimizations, testing, and incorporation of additional advanced analytical features based on community feedback.

The remaining 8,000 ADA is allocated for project management, community engagement, and reporting back to the community. This includes preparing the final project close-out report and video, as well as ongoing communication with users and developers to ensure the tool meets their needs.

Minor costs for hosting and development tools are included within the allocated budgets for each milestone. The budget has been carefully planned to ensure all aspects of the project are adequately funded and in a worst case scenario we are willing to take use funds from our team to adequately finish the project.

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

Our project's cost represents strong value for the Cardano ecosystem by delivering an advanced, open-source DEX analytics tool that enhances transparency and trust into the ecosystem. The majority of the budget is allocated to skilled development work required for complex features like real-time liquidity tracking, detection of advanced trading techniques, and comprehensive DEX performance analytics.

By investing in this project, the Cardano community gains a valuable resource that promotes informed decision-making. The open-source nature ensures that the tool can be continuously improved and extended by other developers without additional cost, providing long-term benefits. This amplifies the return on investment, making the project a cost-effective solution that serves a wide range of users, researchers, and developers within the Cardano community.