FluiDeFi - EVM/BTC wallets with any Cardano DApp

[GENERAL] Name and surname of main applicant

Matteo Coppola

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

Entity (Incorporated)

[GENERAL] Requested funds in ada

484000

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

6

[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)

You can control a Cardano-based smart account using Bitcoin or EVM wallets, allowing any Web3 user to access Cardano without needing a new wallet, starting with FluidTokens Dapp

[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

The project is going to be completly open source with MIT License

[METADATA] Horizons

DeFi

[SOLUTION] Please describe your proposed solution

The problem we aim to solve is the friction for Web3 users to experience Cardano's blockchain. Currently, users need to create new wallets, which adds complexity and limits adoption.

Our approach leverages cross-chain wallet compatibility, allowing users from Bitcoin or EVM chains to control a Cardano smart account without needing to create a new wallet. This reduces onboarding barriers and enhances interoperability, tapping into a larger, existing Web3 audience.

This is the evolution of the concept of Catalyst F12 project

The concept is now working and is being reviewed and it's possible now to apply in the product section because:

"Product is for established blockchain projects and teams looking to enhance existing applications and propositions by significantly extending current features and capabilities. "

The final output of this catalyst is to have Fluid Dapp, our project to integrate Bitcoin and EVM wallets natively.

We will demonstrate the impact by tracking the number of users interacting with Cardano through their native wallets and monitoring transaction volume across multiple chains.

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

• User Adoption: Track the number of users from Bitcoin, Ethereum, and other EVM-compatible chains who successfully interact with Cardano smart accounts.
• Transaction Volume: Monitor the volume of cross-chain transactions initiated via external wallets (Bitcoin, EVM) into the Cardano ecosystem.
• Onboarding Time: Measure the reduction in onboarding time for new users, compared to creating a dedicated Cardano wallet.
• dApp Activity: Analyze the increase in user interactions within Cardano’s decentralized applications (dApps) from cross-chain wallets.

[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 already shown how it is possible https://x.com/ElRaulito_cnft/status/1837900310016413718 and using our crosschain DApp that has already a community of Bitcoin users we'll be able to finally onboard them on Cardano

Our dapp is: https://app.fluidtokens.com/btc

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

Integration of Frontend & Wallet Compatibility

• Objective: Complete the integration of the frontend with wallet support for Metamask, Phantom, and Xverse, allowing users to generate Cardano addresses using any of these wallets.
• Deliverable: Users can link their wallets, generate a Cardano address, and access the Cardano network.
• Timeline: 2 months

Top-up via ETH/MATIC/BTC

• Objective: Enable users to fund their Cardano smart accounts using assets from external chains like Ethereum (ETH), Polygon (MATIC), and Bitcoin (BTC).
• Deliverable: Successful transactions from ETH/MATIC/BTC wallets to a Cardano smart account.
• Timeline: 1 month

Off-ramp from ADA to Any Chain

• Objective: Implement the ability to convert ADA back to assets on other chains, like Ethereum or Bitcoin, facilitating easy withdrawal and liquidity movement.
• Deliverable: Cross-chain offramp functionality that allows ADA to be transferred into other chains.
• Timeline: 1 month

Interaction with Cardano DEXes (e.g., Minswap, SundaeSwap)

• Objective: Enable users to interact with decentralized exchanges on Cardano, such as Minswap and SundaeSwap, through their connected wallets from other chains.
• Deliverable: Successful interaction with DEXes, including swaps and liquidity provision.
• Timeline: 2 months

Interaction with DeFi Protocols (e.g., FluidTokens, Liqwid, Lenfi, Optim)

• Objective: Allow users to engage with Cardano DeFi protocols for lending, borrowing, and staking using their linked cross-chain wallets.
• Deliverable: Successful interactions with DeFi protocols such as FluidTokens, our project
• Timeline: 1 month

Project Close-Out Report & Video

• Objective: Submit a comprehensive project report and accompanying video detailing the achievements, challenges, and future opportunities for growth. The report will include metrics on user adoption, transaction volumes, and cross-chain activity.
• Deliverable: Project Close-Out Report & Video shared with the Cardano community and relevant stakeholders.
• Timeline: 1 month

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

Matteo Coppola

CEO / Full Stack Engineer

Raul Antonio

CTO / Smart Contract Dev

Alberto

Backend Engineer

Lorenzo Marcolli

Frontend Engineer

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

1) Development Costs

• 2 Engineers (Full-Time, 10 months)
• Salary per engineer: $7,000/month
• Total cost for 2 engineers (10 months): $7,000 * 2 engineers * 10 months = $140,000

2) Smart Contract Audit

• Audit of the smart contracts for security and functionality: $30,000

3) Platform Maintenance

• Hosting, infrastructure, and ongoing platform support (10 months)
• Estimated at $2,000 per month
• Total cost: $2,000 * 10 months = $20,000

4) Contingency & Miscellaneous Costs

• To cover unexpected expenses, testing, user support, and other minor costs.
• Total allocation: $10,000

This leads to a total cost of 200,000$ that with current ADA price is about 484,000 ADA

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

By allowing users from other blockchains (e.g., Ethereum, Bitcoin, Polygon) to interact with Cardano without needing a new wallet, the project significantly reduces barriers to entry. This brings more users, liquidity, and activity to Cardano, which is critical for ecosystem growth. The ability to top-up and off-ramp between chains increases Cardano's attractiveness as a truly interoperable platform.

In short: Let's make Cardano the chain of EVERYONE