Open-Source Cardano Native Token Staking Smart-Contract for ALL

[GENERAL] Name and surname of main applicant

Atrium Lab Inc.

[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 are building a smart contract that allows users to stake a CNT in a Cardano smart-contract. We'll then open-source this contract so that other projects save precious resources.

[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

We haven't fully decided on what license we'll use when we open-source this code. We are leaning towards GPL as it requires future uses of this code to also be open-source. We believe this will push the community forward with more open-source code.

[METADATA] Horizons

DeFi

[SOLUTION] Please describe your proposed solution

We’re going to create and open-source a Cardano Native Token staking contract. This smart-contract will allow users to ‘stake’ admin defined tokens, for an admin defined locking period. This smart-contract can also be used to stake Cardano Native Tokens without a locking period. Any Cardano Native Token creator can use this smart-contract, integrate it into their platform to allow staking of their token.

When a user creates this smart-contract, they’ll need to select the token that will be staked. They’ll also need to define locking parameters for the token. They can chose no lock at all, or different periods of locking for their users. Users will be able to select different locking periods that we’re defined by the admin. For example, the admin can create the smart-contract on chain with a one day lock, two day lock, or a three day lock, and reward their users differently based on which lockup period they select.

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

This is a highly useful, and versatile smart contract that can be used by smart contract developers. Staking CNTs whilst offering additional datum support as well as DREP capabilities makes this contract a highly useful tool. A lot of companies are spending their resources developing the same smart-contracts. Us open-sourcing this smart-contract will allow other developers to save resources, and focus on building what they do best.

[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’ve already shipped two smart contracts this year called ‘Staking Baskets’ and ‘Stoa’. We've also shipped a dashboard that these smart-contracts live in with over 24 educational videos to make Cardano easy. Both have been thoroughly tested and enjoyed by thousands of users on the Âtrium.io testnet. You can verify our capability by going to https://alpha.atrium.io.

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

For milestone one, we’ll submit a technical specification that shows how we’ll design the smart-contract, and what features the smart-contract has.

For milestone two we’ll deliver a smart-contract that allows the depositing and withdrawing of Cardano Native Assets directly into the smart-contract. We’ll also allow users to create datums when depositing into the smart-contract. These datums will allow project builders to create custom data for certain types of interactions with the smart-contract.

We'll submit an on-chain transaction of us creating the smart-contract.

In this milestone we’ll add admin defined locking capabilities into the contract. This will allow admins to create locking periods in the smart-contract. These locking periods once the smart-contract is created can not be changed. To prove this, we’ll submit on-chain transactions of the smart-contract on testnet, and show the lockup periods.

We'll submit an on-chain transaction of the smart-contract that has the ability to lock CNTs.

In this milestone we’ll create documentation about how to use the smart-contract. We’ll show what features the smart-contract offers for creators. This documentation will be submitted in PDF format. This documentation will live in the open-source Github repo that we'll deliver in the next milestone.

In this milestone we’ll open-source this smart-contract on Github, and show people how to use it with the documentation we created in the last milestone directly on our site.

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

Peyton: Âtrium Lab - Co-founder

Ben: Âtrium Lab - Co-founder and Creative Director

Brian: Âtrium Lab - Lead Developer

Preston: Âtrium Lab - Backend developer

Angelo: Âtrium Lab - Full Stack Developer

Marek - Project manager

Ibby - Project manager

Stephen - Community manager

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

150k ADA - Smart-contract Work

30k ADA - Project Management

20k ADA - Documentation and Delivery

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

This project is a low risk proposal for the Cardano ecosystem as we’ve proven we deliver. Decentralization is important, and many of the leading smart-contracts do not utilize plutus V3 and prioritize DREP capabilities. With this code being open-sourced, any smart-contract developer will be able to look at this code to improve their existing smart-contracts.

Many protocols that launch on Cardano need a smart-contract that allows users to ‘Stake’ their Cardano Native assets to receive more tokens, earn special access on their site, or earn NFTs.

A lot of new companies that launch spend resources creating the same smart-contract. With us open-sourcing this smart-contract, Cardano projects can spend their valuable resources on what they do best in our ecosystem.