[KOET] Web3 Share-An-Action: The Game-Changer for CPA Affiliate Marketing - A Trustless and Secure Future

[GENERAL] Name and surname of main applicant

Le Minh Tuan

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

Entity (Not Incorporated)

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

Create a decentralized affiliate marketing platform that helps publishers and advertisers monetize their content and products in a transparent, secure way and incentivizes users to become crypto-users

[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

GNU General Public License v3.0.

[METADATA] Horizons

Business Services

[SOLUTION] Please describe your proposed solution

1) Introduction

a) Definitions

Affiliate marketing is a type of online marketing. The Interactive Advertising Bureau (IAB) has this definition of affiliate marketing:

“Affiliate Marketing is the practice whereby a digital publisher or website promotes an online retailer and earns a commission based on the sales or leads that the advertising generates for that online retailer.” (Lee et al., 2016).

Within the online marketing landscape, affiliate marketing stands out as a performance-based advertising model. Advertisers ("brands," "retailers," or "merchants") compensate third-party publishers ("affiliates") for generating traffic or leads to their products and services.

b) The participants

The world of affiliate marketing revolves around five key players: publishers, advertisers, networks, customers, and of course, the products themselves. We'll break down each of these roles and how they work together to make affiliate marketing tick.

Publishers ("Affiliate", "Affiliate Marketer", "KOLs") are the shopfronts of the affiliate world. They run websites or apps featuring a variety of brands and products. Their goal? Build a large audience and earn commissions by connecting customers with those brands. There are several reasons why customers might choose an affiliate site over a brand's own store. Often, affiliates offer added value, like in-depth product comparisons or exclusive deals, that make them a one-stop shop for informed buying decisions.

Advertisers (brands) use affiliate marketing to reach wider audiences through publishers' websites. They offer commissions to publishers in exchange for promoting their products. To track these sales accurately, a neutral third party, the affiliate network, is involved.

Affiliate networks act as the middleman, streamlining tracking, payments, and connections between advertisers and publishers. They can even expand each party's reach by providing access to a wider network of potential partners.

The last player is the customer. They take the desired action, like making a purchase or signing up for something, which earns the publisher a commission. These actions aren't always just sales - sometimes it's just capturing a lead (like an email signup) that might turn into a sale later for the advertiser.

The product is anything a customer is willing to buy, from physical items like clothes to digital products like ebooks or even services. Publishers embed these offerings on their websites. When a user clicks the product link, they're whisked away to the advertiser's site to (hopefully) make a purchase.

Commissions (CPA) are based on performance - advertisers only pay when a desired action happens (sale, signup, click, etc.) by customers. This makes affiliate marketing a low-risk strategy for advertisers and performance-driven for publishers."

2) Problems and Impacts

a) Problems in Web 3 space

Only 4.2% of global internet users own cryptocurrencies, while 64% have expressed interest in crypto. How can we convert non-crypto users to crypto users and retain them within the Web 3 space?

b) Problems in affiliate marketing industry

• Lack of Transparency
• Centralized affiliate marketing platforms often control data and reporting, hindering publishers from verifying clicks, conversions, and commission payouts. The lack of transparency regarding commission calculations, top-performing products, and traffic sources can cause frustration and erode trust.
• Nearly a quarter (23%) of publishers recognize a lack of transparency as a significant hurdle in the field of affiliate marketing.
• According to a report from iMediaConnection, 42% of publishers said they had experienced discrepancies in commission payouts.
• Low commissions
• Publishers (Affiliates) often face low commission rates, making it challenging to earn substantial income. Some centralized platforms prioritize profit margins over fair compensation for affiliates.
• According to research by ShopperApproved and TangoLearn, 38% of publishers find commission rates unsustainably low. This disproportionately affects new affiliates, discouraging their participation and impeding overall growth in the affiliate marketing industry.
• Slow payouts
• Centralized platforms often have lengthy payment cycles, meaning publishers can wait weeks or even months to receive their commissions. This can create cash flow problems for publishers.
• According to a FlexOffers survey, 47% of publishers find slow payouts to be a significant pain point. Data from Business Insider indicates that the average payout time for affiliate programs can vary from 30 to 90 days.
• Program changes
• Centralized platforms can change program terms, commission rates, or even terminate programs entirely without or with little notice. This lack of control and stability can be disruptive for publishers who have invested time and resources into promoting specific products.
•  A study by Affiliate Summit found that 62% of publishers had experienced program changes that negatively impacted their earnings.

Publishers have also felt the loss of revenue growth due to middleman dominate the industry.

c) Opportunities and Impacts

The affiliate marketing landscape is brimming with exciting opportunities.

• The global market size is currently over $17 billion,
• The predictions for continued growth reaching $27.78 billion by 2027.
• Over 51% of publishers' revenue comes from affiliate marketing.
• More than 80% of Brands use Affiliate Marketing programs to reach millions of potential customers.

The involvement of the Cardano blockchain can address critical pain points in the affiliate marketing industry. Powered by tokenization, it disrupts the traditional business model and brings genuine value to millions of participants (customers, publishers, and advertisers). This innovation is expected to be a game-changer for CPA affiliate marketing – a trustless, secure future that also accelerates cryptocurrency adoption on a global scale.

3) Solution

Create a decentralized CPA (Cost/Commission Per Action) affiliate marketing platform that enables publishers (also known as “affiliate marketers” or “KOLs”) and advertisers (referred to as “merchants,” “brands,” or “retailers”) to monetize their content and products transparently and securely. Additionally, incentivize participants (including publishers, advertisers, and users) to become crypto-users. The platform, called W3SAA (Web3 Share-An-Action), is empowered by technologies such as the Cardano blockchain, Web3, AI, and Big Data. This means that the interactions between Advertisers, Publishers, and Users are managed by smart contracts and Cardano blockchain protocols, rather than relying on a central authority like Amazon Associates, MaxBounty or AccessTrade.

Within this trustless affiliate marketing platform, W3SAA, advertisers can be confident they only pay for genuine leads or sales. Blockchain technology verifies each transaction, ensuring transparency. Similarly, publishers are assured of receiving their commissions through smart contracts that automatically release payments upon completion of agreed-upon actions. This system significantly reduces fraud, lowers costs, and streamlines the affiliate marketing process, making it more efficient and reliable for all participants.

The W3SAA is expected to attract millions of new users to the crypto space, specifically the Cardano ecosystem, and keep them engaged through the Completed Action to Earn (CA2E) business model. It encourages and incentivizes participants (including users, publishers, and advertisers) to create crypto wallets and receive ADA as commissions and SAA tokens (a cryptocurrency released by W3SAA) as rewards for their contributions. The rewarding cryptocurrency will be distributed to the participants’ wallets when they contribute to the completion of a marketing campaign.

The W3SAA will accept ADA as a form of cryptocurrency payment when advertisers allocate a marketing budget, and publishers will earn a commission accordingly.

W3SAA aspires to revolutionize conventional affiliate marketing paradigms through decentralization, bringing on-chain incentives to millions of users worldwide.

Solution

4) How does W3SAA work

W3SAA operates as a set of smart contracts that generate potential customers (leads) or sales via publishers’ content by having them fill out a form, download a mobile app, or purchase products and services. It automatically acts as a functioning connection between publishers and advertisers, which can include brands, merchants, online retailers, and drop-shipping suppliers (e.g., Amazon, Lazada, Shopee, or Samsung Vietnam’s e-shop).

When users consume (read, watch, listen) content on a publisher's website (such as content created by affiliate marketers or KOLs), they receive value in the form of in-depth product comparisons or exclusive vouchers offered by the publisher (for non-crypto users) and W3SAA ( for crypto users). Additionally, users express their interest by clicking on affiliate links and completing desired actions (such as making a purchase, signing up, or clicking). Commissions are performance-based; advertisers only pay publishers when users complete their desired actions.

This figure illustrates the proposed Completed Action-to-Earn business model. Its main goal is to convert non-crypto users (who are publishers’ audiences) into crypto users and engage them through an incentivized program. This approach not only brings millions of non-crypto users to Cardano but also helps the network increase security, the number of transactions, and Total Value Locked (TVL), as explained in step (1).

Advertisers initiate their CPA marketing campaign by following these steps:

1. Connecting Their Wallet: Advertisers connect their wallet to the system.
2. Sharing Products and Services: They share information about their products and services.
3. Offering a Commission (Cost) Per Action: Advertisers specify the commission they are willing to pay for each desired action (e.g., clicks, sign-ups, purchases).
4. Setting the Campaign Period: They define the duration of the marketing campaign.
5. Locking Their Marketing Budget into a Smart Contract: Advertisers allocate their marketing budget and lock it into a smart contract.

Additionally, we’ve partnered with the VILAI stake pool to stake the allocated marketing budgets and earn interest in ADA (Cardano’s native cryptocurrency) in step (2).

During registration (4), publishers can select campaigns that fit their channel or content and obtain affiliate links for publishing. They can also view performance reports in real-time.

Users become consumers (5) when they complete desired actions. This helps them discover the most suitable products and services for their needs.

To earn exclusive vouchers or discounts, users can engage with the W3SAA and Cardano community by creating or connecting a wallet. This allows them to receive SAA tokens as rewards for their actions, which contribute to the network's growth.

A commission payment wallet (3) is automatically created. When a commission threshold is reached (7), ADA is automatically transferred to publishers, eliminating the need for them to wait months to receive their payment.

Additionally, a portion of the commission deducted by W3SAA is converted into SAA tokens and distributed (6)(7) to participants (users, publishers, advertisers) as cashback and rewards. This incentivizes them to remain engaged with W3SAA and the Cardano network.

A key challenge when building W3SAA is overcoming the 'bootstrap' or 'cold start' problem: attracting publishers and advertisers before enough users are participating to make the W3SAA network intrinsically valuable. To address this challenge, we are partnering with some well-known local publishers and influencers. These partnerships will help attract a wider audience of users and incentivize publishers and advertisers to join the W3SAA network early on.

• Advertisers:
• Samsung Vietnam (https://www.samsung.com/vn/): An well-known online shop from Global Brand.
• KOET Co., Ltd (http://dienmaykorea.com): Samsung Vietnam official selling partner, they act as an online outlet store, sell exclusive selected heavily discounted Samsung models.
• Visa Rẻ (http://www.visare.com.vn): A fast, convenient, secure, and affordable visa application service specifically designed for Vietnamese citizens.
• Lac Viet Auction (http://lacvietauction.com.vn/): They are no.1 Auction House and is owning the first government-authorized auction platform in Vietnam.
• Publishers:
• Otofun community: Ranked #1 in the Automotive category in Vietnam according to the online report with 8.16 million monthly visitors.
• Cardano Stake Pool: VILAI pool

The involvement of the Cardano blockchain and partnerships with well-known local and global brands can address critical pain points in affiliate marketing. Powered by tokenization and the Completed Action-to-Earn business model, W3SAA disrupts the traditional business model in Affiliate Marketing industry by creating a trustless and secure environment that benefits all participants – customers, publishers, and advertisers. This innovation has the potential to be a game-changer for CPA affiliate marketing, accelerating cryptocurrency adoption globally.

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

The W3SAA platform not only brings positive value to the wider Cardano community but also to the marketing industry.

Value Propositions for Cardano wider community

1. Increased Adoption: Drives growth in blockchain technology by creating a real-world use case.
2. Drives growth in new and active users: Powered by the 'Completed Action to Earn' business model, it incentivizes millions of non-crypto users to become crypto users and earn rewards through their actions.
3. Increased TVL (Total Value Locked), network security, and stability: It is expected that millions of ADA will be staked in our stake pool when advertisers allocate marketing campaign budgets.
4. Increased on-chain transactions: Smart contracts automatically allocate commission payouts to publishers and distribute SAA tokens to all participants upon completion of a marketing campaign. t is expected that there will be hundreds of millions of transactions per month.
5. Strengthens Cardano Ecosystem: W3SAA is a fully-fledged blockchain solution designed for affiliate marketing platforms. It helps the marketing industry solve problems that were previously unsolvable, such as:
6. Data Security: Provides a secure and tamper-proof platform for affiliate marketing data.
7. Enhanced Transparency: Promotes trust and transparency within the affiliate marketing industry.

Value Propositions for the participants in Affiliate Marketing industry

a) User ( Consumer)

• Enhanced Trust & Transparency: Due to blockchain's inherent transparency, consumers can trust that reviews and recommendations about products and services offered by advertisers are genuine and unmanipulated. This is because all transactions and affiliate actions are immutably recorded on the blockchain.
• Better Deals: W3SSA can offer exclusive promotions or better pricing due to lower operational costs compared to traditional affiliate marketing setups.
• Privacy Protection: W3SSA can provide more privacy for consumers, as personal data doesn’t need to be shared with multiple parties like in traditional affiliate marketing models.
• Rewards and Incentives: Powered by the Action-to-Earn model, the W3SAA offers exclusive promotions or better pricing due to lower operational costs compared to traditional methods. You can earn additional rewards and incentives by completing required actions or referring new users, allowing them to earn SAA tokens.

b) Advertiser ( "Brand", "Merchant", "Retailer")

• Better Targeting & ROI: Reach the right audience, maximize campaign returns.
• Less Fraud & Cost-Effective: Secure network with lower fees.
• Real-time Tracking & Direct Connection: Optimize campaigns, connect directly

c) Publisher ( "Affiliate", "Marketer")

• Faster Commission Payments: Receive commissions more swiftly through efficient and automated smart contracts upon successful user conversions, eliminating delays.
• Dispute Resolution: Securely store and verify conversion data on the blockchain, simplifying dispute resolution with advertisers.
• Ownership: Through tokenized incentives, publishers earn SAA tokens for their marketing efforts. These tokens offer additional value by providing governance rights and partial ownership of the platform.

The success of the project will be measured against the following key performance indicators (KPIs):

1) Product Development & Quality

• Go live on time ( 8 months).
• CSAT: 4.5/5 ( A survey form will be published to gather feedback from the Cardano community).

2) Increased Cardano adoption

• Onboarding new Cardano users:
• 100,000 new wallet addresses created within the first 3 months.
• Increased TVL
• 1+ million ADA will be staked in our partner's stake pool within the first 6 months.
• The network has attracted 10 well-known advertisers within the first 3 months.
• The network has attracted 3 publishers who have million views within the first 3 months.

[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?

1. The Core team: The strong team possesses expertise and experience, along with the necessary skills, in both Cardano blockchain and the marketing industry. Proven experience with Cardano projects.
2. Project Leader: Project Leader: Tuan Le (Ph.D.) brings 20+ years of experience in Digital Transformation, leading projects at Microsoft, Nokia, Vincom Retail, and TMS Group. He also has 3.5 years of experience at MediaMonks, a digital-first marketing/advertising/technology company.
3. CTO: Tien Nguyen, who is Cardano Blockchain Support Engineer from Cardano Foundation.
4. Head of Business Development and Partnership: Dan Nguyen, brings 20+ years of experience in Business Development and Partnership from P&G and Nokia
5. Partnership: To overcome the 'bootstrap' problem, we are partnering with well-known local publishers and advertisers (brands). These partnerships will help us attract a wider user base, starting locally and expanding globally, by incentivizing early participation.

• Advertisers:
• Samsung Vietnam (https://www.samsung.com/vn/): An well-known online shop from Global Brand.
• KOET Co., Ltd (http://dienmaykorea.com): Samsung Vietnam official selling partner, they act as an online outlet store, sell exclusive selected heavily discounted Samsung models.
• Visa Rẻ (http://www.visare.com.vn): A fast, convenient, secure, and affordable visa application service specifically designed for Vietnamese citizens.
• Lac Viet Auction (http://lacvietauction.com.vn/): They are no.1 Auction House and is owning the first government-authorized auction platform in Vietnam.
• Publishers:
• Otofun community: Ranked #1 in the Automotive category in Vietnam according to the online report with 8.16 million monthly visitors.
• Cardano Stake Pool: VILAI pool

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

Define Web3 Share-An-Action (W3SAA) Functionality and Tokenomics - 1 month

Milestone outputs

• W3SAA Network Purpose Statement: Clearly articulates the network’s mission and value proposition.
• Functionalities Document: Describes key features and services provided by W3SAA.
• Detailed Project Scope Document: Clearly outlines the project’s objectives, deliverables, and constraints.
• Tokenomics Whitepaper: Details the native token (e.g., SAA) supply, distribution, staking mechanisms, and governance.
• Token Metrics Spreadsheet: Quantifies token issuance, vesting schedules, and initial distribution.

Acceptance criteria

• Purpose statement aligns with the project’s goals and user needs.
• Functionalities covers essential aspects (e.g., commission tracking, dispute resolution).
• The scope document is reviewed and approved by Cardano community.
• Tokenomics aligns with the network’s economic model and incentives.
• Token metrics are well-defined and transparent.

Evidence of milestone completion

• Approved purpose statement accessible to to Cardano community.
• Published functionalities document accessible to Cardano community.
• Published signed-off scope document accessible to Cardano community.
• Published whitepaper accessible to Cardano community.
• Completed token metrics spreadsheet.

Design - 1 month

Getting the look and feel right ensures the most important information is where we need it and requirements sign-off with software vendors.

Milestone outputs

• User Interface (UI) Mockups and Wireframes:
• Visual representations of how the application will look.
• Includes layout, navigation, and key elements.
• Helps stakeholders visualize the end product.
• Style Guide or Design System:
• Defines fonts, colors, icons, and other design elements.
• Ensures consistency across screens and components.
• Guides developers during implementation.

Acceptance criteria

• UI mockups align with project objectives and stakeholder expectations.
• Style guide adheres to branding guidelines and usability principles.

Evidence of milestone completion

• Published the Approved UI mockups and wireframes.
• Published the finalized style guide and system design.

Smart Contract Development (Built) - 2 months

This is the largest part of the project. Develop smart contracts for core functionalities as:

• Affiliate signup and management.
• Offer creation and management by advertisers.
• Commission tracking and payout.
• Secure dispute resolution process.

Milestone outputs

• Smart Contract Code: The core functionality of the W3SAA network will be written in a secure and well-documented smart contract codebase. This code should be written in a language compatible with Cardano blockchain platform (e.g., Haskell, Plutus or Marlowe).
• Unit Tests: A suite of automated unit tests should be developed to ensure the individual functionalities of the smart contracts work as intended.
• Smart Contract Documentation: Comprehensive documentation explaining the purpose, functionality, and logic behind each smart contract. This documentation should be clear and understandable for developers unfamiliar with the codebase.

Acceptance criteria

• The smart contract code successfully compiles and deploys on a Cardano testnet.
• All unit tests pass, demonstrating the correct functionality of individual smart contract components.
• The smart contract documentation clearly explains the purpose, logic, and expected behavior of each contract.

Evidence of milestone completion

• Access to the deployed smart contract code on Cardano test network (on GitHub).
• Documentation of successful unit test execution with test results.
• Finalized and reviewed smart contract documentation readily available for reference.

Develop Minimum Viable Product (MVP) with Affiliate Dashboard and Analytics - 2 months

Milestone outputs

• Minimum Viable Product (MVP) Platform: This is a functional version of the W3SAA network platform with core functionalities required for launch. It should include features for:
• User registration and management (advertisers and affiliates).
• Offer creation, listing, and management by advertisers.
• Affiliate discovery of offers and promotion tools.
• Commission tracking and reporting for both advertisers and affiliates.
• Secure wallet for token storage and transactions (if applicable).
• User Interface (UI) Implementation:
• A user-friendly interface based on the approved designs from the Design milestone. This should provide a smooth user experience for all platform functionalities.
• API Documentation: Clear and concise documentation outlining the platform's Application Programming Interface (API) for potential integrations with other applications.

Acceptance criteria

• The MVP platform is fully functional and allows users (advertisers and affiliates) to perform core actions like signup, offer management, commission tracking, and secure wallet transactions (if applicable).
• The UI is implemented based on the approved designs, ensuring a user-friendly and intuitive experience.
• The API documentation is complete and provides clear instructions for developers to integrate with the W3SAA network platform.
• Basic functionality testing should be conducted to ensure all core features work as intended and there are no critical bugs.

Evidence of milestone completion

• A fully functional MVP platform deployed to a staging environment for testing purposes.
• User acceptance testing results demonstrating successful completion of core functionalities by users ( video on Youtube).
• Finalized UI implemented on the platform.
• API documentation readily available for developers.

Testing and Deployment - 2 Months

 

This phase focuses on thoroughly testing the developed MVP and deploying it on the Cardano mainnet.

1) Smart Contract Audit and Security Testing

Milestone Outputs:

• Smart Contract Audit Report: A comprehensive report from a reputable security firm assessing the smart contracts for vulnerabilities and potential security risks.
• Internal Security Test Report: Documentation outlining the results of internal penetration testing or security checks conducted on the platform to identify and address any security weaknesses.

Acceptance Criteria:

• The smart contract audit report identifies no critical or high-risk vulnerabilities. Any medium or low-risk vulnerabilities should have a documented mitigation plan.
• Internal security testing uncovers no critical security issues that could compromise user funds or platform functionality.

Evidence of Completion:

• A final report from the security firm outlining the audit methodology, identified vulnerabilities (if any), and severity ratings.
• Detailed records of internal security testing procedures and results, along with any implemented mitigation strategies.

2) Beta Testing, User Feedbacks and Deployment

Milestone Outputs:

• Beta Testing Report: A report summarizing the beta testing process, including the number of participants, identified bugs or issues, and overall user feedback on platform functionality and user experience.
• Updated Platform Version: Based on beta testing results, the MVP platform should be updated to address critical bugs and incorporate valuable user feedback for improvement.
• Live Deployed Platform: The W3SAA network platform successfully deployed on the Cardano blockchain network (mainnet).

Acceptance Criteria:

• Beta testing identifies no critical bugs that significantly hinder core functionalities.
• User feedback from beta testing is positive, indicating a generally smooth user experience and satisfaction with core functionalities.
• The W3SAA network platform is successfully deployed on the Cardano mainnet and functions as intended.

Evidence of Completion:

• A comprehensive beta testing report detailing the process, findings, and user feedback.
• The updated and improved version of the W3SAA network platform MVP.
• Access to the live deployed W3SAA network platform on the mainnet ( through a public URL).

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

Core team and Roles:

1. Project Leader: Tuan Le (Ph.D.) brings 20+ years of experience in Digital Transformation, leading projects at Microsoft, Nokia, Vincom Retail, and TMS Group. He also has 3.5 years of experience at MediaMonks, a digital-first marketing/advertising/technology company.
2. CTO: Tien Nguyen, who is Cardano Blockchain Support Engineer from Cardano Foundation.
3. Head of Business Development and Partnership: Dan Nguyen, brings 20+ years of experience in Business Development and Partnership from P&G and Nokia.

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

Below is the cost breakdown of the proposed work

Milestone 1: Define W3SAA affiliate marketing network functionality and Tokenomics

• Timeline: 1 month
• Cost: 9,000 ADA

Evidence of milestone completion

• Approved purpose statement accessible to to Cardano community.
• Published functionalities document accessible to Cardano community.
• Published signed-off scope document accessible to Cardano community.
• Published whitepaper accessible to Cardano community.
• Completed token metrics spreadsheet.

Milestone 2: Design

• Timeline: 1 month
• Cost: 9,000 ADA

Evidence of milestone completion

• Published the Approved UI mockups and wireframes.
• Published the finalized style guide and system design.

Milestone 3: Smart Contract Development

• Timeline: 2 months
• Cost: 25,000 ADA

Evidence of milestone completion

• Access to the deployed smart contracts code on a Cardano test network (on GitHub).
• Documentation of successful unit test execution with test results.
• Finalized and reviewed smart contracts documentation readily available for reference.

Milestone 4: Develop Minimum Viable Product (MVP) with Affiliate Dashboard and Analytics

• Timeline: 2 months
• Cost: 23,000 ADA

Evidence of milestone completion

• A fully functional MVP platform deployed to a staging environment for testing purposes.
• User acceptance testing results demonstrating successful completion of core functionalities by users ( video on Youtube).
• Finalized UI implemented on the platform.
• API documentation readily available for developers.

Final milestone: Testing and Deployment - 2 Months

• Timeline: 2 months
• Cost: 23,000 ADA

This phase focuses on thoroughly testing the developed MVP and deploying it on the Cardano mainnet.

Smart Contract Audit and Security Testing

Evidence of Completion:

• A final report from the security firm outlining the audit methodology, identified vulnerabilities (if any), and severity ratings.
• Detailed records of internal security testing procedures and results, along with any implemented mitigation strategies.

Beta Testing, User Feedbacks and Deployment

Evidence of Completion:

• A comprehensive beta testing report detailing the process, findings, and user feedback.
• The updated and improved version of the W3SAA network platform MVP.
• Access to the live deployed W3SAA network platform on the mainnet ( through a public URL).

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

Super high ROI (Return on Investment) is projected for the Cardano ecosystem.

1) We have requested a competitive rate for development, leveraging the talent pool of skilled Vietnamese developers.

• 30$/hour for backend & database developer
• 35$/ hour for a mobile application developer
• 40$/hour for a smart contracts developer
• 20$/hour for QA/QC, UI, UX designer
• 40$/hour for solution architecture
• 30$/hour for Project Manager
• 1 ADA = $0.45 (as of May 12, 2024, according to CoinMarketCap).

2) We do not request the fund for cloud infrastructure, hardware and dev tools license and Project Manager

*/ Cloud infrastructure & Data Design: (Sever system, network, security, cloud services, customer data, customers 360 profiles ..)

~ 1 year = $5,000 ( No fund, We are supported by Microsoft Azure).

*/License Tool & Resources: (Salesforce license for Sales Cloud and Marketing Cloud for user engagement, Art tools, Dev tools, …)

~ $5,000 ( No fund, We are supported by Salesforce).

/*Hardware: (Server, storage, cloud services ..)

~ $4,500 -> no fund (We had the initial investment)

/*Project Management)

~ $30/h x 40h/month x 8 months = 9,600 USD -> no fund (Using in-house PM, cost is calculated as the initial investment).

/* Tax(10%) now 0% by support from our government for IT StartUp.

3) The success of the project will be measured against the following key performance indicators (KPIs), that shows a super ROI for the Cardano ecosystem.

• Requested cost: 89,000 ADA

• High Quality dApp
• Go live on time ( 8 months) // The average is only 10,000 ADA per month.
• CSAT: 4.85/5 // High quality app.

• Increased Cardano adoption
• Onboarding new Cardano users:
• 100,000 new wallet addresses // Achieving a cost of only 0.89 ADA per new user is possible through partnerships with well-known advertisers (Samsung Vietnam, Koet Co., Ltd, Lac Viet Auction, and Visa Re) and publishers generating 8.16 million monthly views.
• Increased TVL
• 1+ million ADA will be staked in our partner's stake pool. // Estimated 500.000 USD (1 ADA = 0.5 USD) will be allocated for marketing budgets from advertising partners.
• The network has attracted 10 well-known advertisers within the first 3 months. //A marketing budget of 100,000 ADA (approximately $50,000 USD) for a well-known advertiser is reasonable. ( References - Marketing budget for Lac Viet Auction is 2 billion VND/month - 80.000 USD/month).
• The network has attracted 3 publishers who have million views within the first 3 months.