ADA Cashback from Top Retailers #2: for Native Wallet Apps

[GENERAL] Name and surname of main applicant

Meir (Iri) Zohar

[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)

3

[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)

White-label ADA cashback for native mobile wallets:

1. Attract new users with ADA rewards on fiat purchases
2. Stay top-of-mind - shop within the wallet for everyday needs 
3. New profit channel (rev-share)

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[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.”

We need the collaboration of at least one mobile wallet from the Cordano ecosystem.

Our solution is a white-label crypto cashback that “sits” in a wallet and needs the wallet to integrate it in their native mobile app.

[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 want to enable all Cardano mobile wallets to embed our ADA cashback solution and connect web2 players with meaningful web3 platforms. 

We’ll be using the MIT open source license.

[METADATA] Horizons

E-commerce

[SOLUTION] Please describe your proposed solution

Following the need that arises from ecosystem wallets on F12 grant,

this is a complementary development for ADA Cashback from Top Retailers,

for Cardano mobile wallets. 

We have continued our integration with all the major affiliate networks and are now able to send wallet users to 4000+ retailers, and growing rapidly. Once a user purchases (with any payment method) we know how much ADA cashback he deserves and when he is entitled to receive that ADA cashback (assuming he doesn't return the purchased goods).

We’ll run omnibus wallets via CeXs as Gate.io, and accumulate for each user the ADA cashback they receive from different merchants. The users choose when to claim their accumulated cashback tokens and move it on-chain.

We’ll manage the price volatility edging for the ADA tokens as needed and assume all the associated risks. 

Here is more information about the model:

Short presentation - Bring for Blockchains

Website - www.bringweb3.io

Short video -

https://youtu.be/K1m1P1V6M5E

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

This project is expected to-

• Contribute to the credibility, positioning and trust of the Cardano brand by associating with top tier and widely recognized web2 brands such as: Walmart, Samsung, Expedia, Adidas, Decathlon, Uber Eats, Tesco, Doordash, Instacart, TEMU, JBL, Samsonite, Hertz, LG, Dell, Lenovo,GAP, Motorola, Dyson, HBO, Nespresso, AliExpress, StockX, Banana Republic, ASOS and many more 
• Increase the market demand for ADA by increasing ongoing transactions on Cardano as users can seamlessly convert cashback from all fiat purchases into ADA
• Get new and existing ADA investors more engaged in the ecosystem as they interact with ADA on a day-to-day purchases concerning their lifestyle - especially as statistically shopping for everyday items is growing fast on mobile devices 
• Contribute to the innovative and positive image of the Cardano ecosystem as early adopters of this proprietary service that offer real and tangible value to users

The project is also expected to -

• Increase the attractiveness of the Cardano wallets enabling them to acquire more users, thus increasing the Cardano community
• Motivate community members to tell their fiat loving friends they can now start earning ADA effortlessly with a slight change of starting point, just by setting up a Cardano wallet, thus breaking into a “new market” of Cardano users and expanding the community. 

Those effect will be measured and reported on a monthly basis -

• Number of Cardano wallets that are offering ADA cashback 
• Number of users that received ADA cashback via this service
• Amount of ADA cashback distributed to users

[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?

Our confidence in our ability to deliver and that our approach is valid relies on:

1. We’ve successfully completed the first milestone of our grant on F12 and continue to develop the next
2. We already have 2 signed agreements with Caradno wallet partners who wish to integrate with our ADA cashback portal and chrome extension, both in different implementation and development phases. 
3. Our team consists a seasoned executives and operators as detailed on the team paragraph slid on the presentation attached
4. We’ve successfully integrated with Commision Junction, Impact - the two leading affiliate networks. We’ve also integrated with CJ, Rakuten and ShareASale networks. Together, they are able to record the full data of completed purchases in hundreds of stores
5. We’ve successfully delivered the first version of this system and launched it on the Casper blockchain which are now adding the browser-extension element as well.
6. We’ve also integrated with Aurora wallet, the demo is fully functional and there’s a waiting list of users who wish to use it.
7. We’ve completed a SAFE investment round and have the funds needed to successfully execute this 

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

Closing a Partner Wallet

Finding the right Cardano wallet to partner with and signing a deal

Acceptance criteria: Signed agreement with the Partner Wallet

Designing the native ADA Cashback UX/UI

• Planning the design with the wallet partner
• Store-finder UIs for the partner wallet (Deals feed, Search, Filter by category) 
• Cache UIs for the partner wallet (Claim flow, View rewards history, FAQ and Support)

Acceptance criteria: Design approval by the Partner Wallet

Building the native ADA Cashback wallet app

• Making the app compatible with iOS and Android wallets
• Adjusting Bring’s wallet-side application comprising of:

1. Mobile app of partner wallet
2. Building all UIs
3. Tokens cache for ADA
4. Backend support for all the above (APIs)

Acceptance criteria: Code approved by the Partner Wallet

QA + Integrating the ADA Cashback with the Partner Wallet App

• QA the code until ready for integration
• All the above

Acceptance criteria: full release to the appstore and google play store

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

We are bringing cash-back to web3 at scale.

Our vision is to offer everyone, including the least-savvy, web3 users, seamless access to crypto cashback via his/her trusted crypto platform.

The company was founded by Meir (Iri) Zohar, one of the key architects of modern ad-tech; founder (2007) of eXelate , pioneering the use of data as an integral part of the ad-tech ecosystem.

Iri, together with the Bring team, have launched a proprietary platform, integrated with top retailers and brands and with leading crypto wallets, exchanges and other web3 conduits.

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

Milestone #1 - 

Resources and costs -

• Business development (in house): 0.5 months x $8000
• Mobile developer: 5 hours x $80 
• UX/UI Designer (in house): 10 hours x $53 
• Legal (external): 10 hours x $300
• Admin (in house): 5 hours x $25

Time estimate: 0.5 month

Total cost: $8,058

Milestone #2 - 

Resources and costs -

• Business development: 10 hours x $53
• Mobile developer: 1 months x $12,000
• UX/UI Designer: 25 hours x $53
• Admin: 5 hours x $25

Time estimate: 1 month

Total cost: $13,992

Milestone #3 - 

Resources and costs -

• Business development: 10 hours x $53
• Mobile developer: 1.5 months x $12,000
• QA engineer: 0.5 months x $7,000
• UX/UI Designer: 10 hours x $53
• Admin: 5 hours x $25

Time estimate: 1 month

Total cost: $22,692

Final Milestone - 

Resources and costs -

• QA engineer: 0.5 months x $7,000

Time estimate: 0.5 month

Total cost: $3,500

Total budget: $48,242

ADA 140,000 (based on 0.35) 

Additional 10,000 ADA to protect from ADA price going down (as most of our expenses are in USD). In case ADA price goes up we will discuss integration with additional wallets and aim to add more features.  

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

The final product of this project will start generating value to users and wallets from the early beginning as it generates revenue for the platform that will make it self-sustained. 

Moreover, in a short time we will be able to show a concrete additional use case for web3 cashback that is connected to major brands and for daily usage, without the need to change users behavior (market education).    

Most projects need higher financial resources and we believe our model can be proven with a relatively limited budget, but with great impact when it comes to user experience + ADA market demand + additional revenue streams. 

All list costs are based on standard market salaries in Israel.

The legal fees are based on the standard legal fees in Israel.