ADAcrow - Decentralized, and P2P Escrow App

[GENERAL] Name and surname of main applicant

Hasan Basri CENK

[GENERAL] Email address of main applicant

hasanbasricenk@gmail.com

Additional applicants

Emre COSKUNCAY

Burak SEN

Burak UYAR

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

12

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

No

[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?

No

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”

We plan to incorporate blockchain technology for our escrow and dispute resolution mechanisms. This means that the entire process will be transparent and secure. Our escrow contract and dispute resolution mechanics will be made available to the public for complete transparency. However, to safeguard against any unforeseen circumstances, we will not disclose our business logics, as this could potentially result in losses. Furthermore, we will evaluate all applications using a centralized mechanism to ensure that only qualified individuals are appointed as arbitrators in the event of a dispute.

[METADATA] Category of Proposal

dApp

[IMPACT] Please describe your proposed solution.

Background

Our modern financial system is inherently reliant on central authorities, a design that leads to several critical drawbacks. To engage in any business transaction within this framework, individuals are required to disclose their identity and often face high commissions or transaction fees. This traditional system, despite its prevalent use, often lacks the robust security mechanisms needed to protect user assets. There have been instances where central authorities have seized funds without any discourse or justification, leading to a perceived lack of security.

Moreover, the high entry barriers associated with traditional financial systems effectively exclude a significant portion of the global population. This exclusionary environment prevents many unbanked individuals from participating in the financial ecosystem, obstructing their potential economic contribution.

This landscape has created a clear demand for a solution that offers greater privacy, affordability, security, and inclusivity. The advent of blockchain technology offers a promising avenue to address these longstanding issues and democratize access to financial transactions. Blockchain's decentralized, peer-to-peer design minimizes dependency on a central authority, providing a path towards a more secure, cost-effective, and inclusive financial system.

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Mission is to provide a secure, decentralized, and inclusive platform that democratizes business transactions through our blockchain-based escrow services. We aim to revolutionize peer-to-peer transactions by eliminating traditional intermediaries, significantly reducing costs, and enhancing security and anonymity for all parties involved.

Vision: We envision a world where business transactions are frictionless, transparent, secure, and universally accessible. Through the power of blockchain technology, we seek to empower individuals and businesses by providing a decentralized escrow platform that stands for trust, efficiency, and anonymity in global commerce. Our goal is to redefine the future of transactions by leading the shift towards a decentralized economy, thereby fostering an environment of inclusivity, privacy, and economic freedom.

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Target Audiences

Our blockchain-based peer-to-peer escrow app is intended for a broad range of audiences, including but not limited to:

• Unbanked Individuals: Those who currently do not have access to traditional banking services, often resorting to cash for all business transactions.
• Freelancers and Gig Workers: Independent professionals who require a secure and cost-effective mechanism to manage their business transactions.
• Small and Medium Businesses: Enterprises that wish to reduce their dependency on traditional banking systems and minimize transaction fees and commissions.
• Crypto-Enthusiasts: Individuals who have an understanding of or interest in blockchain technology and cryptocurrencies, and wish to leverage them for secure, decentralized transactions.
• Privacy Advocates: People who prioritize maintaining their privacy and anonymity during financial transactions, and who wish to avoid the KYC and AML procedures associated with traditional banking systems.
• International Traders: Those who engage in cross-border transactions and are looking for a safe, affordable, and efficient way to manage payments.
• Emerging Markets: People living in countries with unstable financial systems, where access to secure, reliable financial services is limited.

This app aims to serve anyone seeking a more secure, cost-efficient, and anonymous way to conduct business transactions while also fostering financial inclusivity.

Revenue model: Commissions in escrow transactions (25% discount if it is paid in ADA)

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What’s Unique of This Project

Our blockchain-based peer-to-peer escrow app offers a unique blend of features designed to revolutionize the way business transactions are conducted:

• Decentralized Escrow System: This app operates on a decentralized blockchain network, eliminating the need for a central authority or intermediary. It ensures that all transactions are transparent, tamper-proof, and immutable.
• Full Anonymity: Unlike traditional platforms that require users to submit personal information for KYC and AML procedures, our app respects user privacy by requiring no identifiable information. This ensures a fully anonymous transaction process, a rarity in the current financial landscape.
• Inclusive and Accessible: The app is built with a focus on financial inclusivity. By removing the barriers to entry typically associated with the traditional financial system, it enables anyone with an internet connection to participate in secure business transactions, including the unbanked population.
• Affordable Transactions: The use of blockchain technology allows for significant reductions in transaction fees, making it cost-effective for both individuals and businesses, particularly for cross-border transactions.
• Efficient Dispute Resolution: The app features a blockchain-based dispute resolution mechanism, ensuring an unbiased, efficient, and transparent resolution process. This is a novel approach in comparison to traditional dispute resolution methods.
• Ease of Use: Despite leveraging complex blockchain technology, the app maintains a user-friendly interface. This makes it accessible for individuals of all tech proficiency levels, further contributing to its inclusivity.

The combination of these unique elements makes our app an innovative solution, poised to redefine the future of business transactions and democratize access to financial services.

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Usage Flow for Commitment to Pay for a Product or Service

• Peer A chooses a template that best fits the nature of their business transaction or generates a new one tailored to their unique needs.
• Peer A initiates a commitment, defining the amount and delivery terms.
• Peer A securely deposits the agreed amount into the escrow wallet.
• Peer A shares the unique URL of the commitment with Peer X.
• Upon receipt, Peer X confirms their role within the transaction.
• Peer X fulfills their obligation by delivering the product or service in accordance with the agreed terms.
• Peer X then requests the escrowed funds, and/or Peer A approves the claim.
• Once approved, the funds are seamlessly transferred from the escrow wallet to Peer X, completing the transaction.

Usage Flow for Demanding Assurance before Delivering a Product or Service

• Peer B identifies a template that best correlates with their business transaction or crafts a new one as needed.
• Peer B generates an assurance demand, specifying the amount and the delivery terms.
• Peer B disseminates the unique URL of the commitment to Peer Y.
• Upon receipt, Peer Y consents to the established role within the transaction.
• Peer Y safely transfers the agreed amount into the escrow wallet.
• In line with the agreed terms, Peer B delivers the product or service.
• Peer B then requests the escrowed funds, and/or Peer Y approves the claim.
• Once approved, the funds are directly transferred from the escrow wallet to Peer B, thereby concluding the transaction.

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Why It’s Important for Cardano Ecosystem

This app aims to serve anyone seeking a more secure, cost-efficient, and anonymous way to conduct business transactions while also fostering financial inclusivity.

• Promotion of Decentralization: Cardano's primary vision is to enable a new decentralized economy and democratize finance globally. By providing secure, decentralized, peer-to-peer escrow services, this app aligns perfectly with Cardano's mission, further promoting the principles of decentralization.
• Enhancing Financial Inclusivity: Many regions around the world still suffer from financial exclusion. By bypassing traditional banking requirements, this app provides a platform for unbanked individuals and those in emerging markets to participate in the digital economy, thereby broadening Cardano's impact on financial inclusivity.
• Encouraging Adoption: By creating a practical and user-friendly application that provides real-world value, more individuals and businesses may be incentivized to adopt Cardano's blockchain technology. This can lead to increased usage and acceptance of Cardano's native cryptocurrency, ADA, potentially driving its value.
• Catalyst for Innovation: The success of this app could encourage further innovation within the Cardano ecosystem, prompting other developers to create additional tools and applications that leverage the security, scalability, and efficiency of Cardano's blockchain.
• Boosting Anonymity and Privacy: Cardano is built with a focus on privacy and security. By offering full anonymity and bypassing traditional KYC and AML procedures, this app enhances the privacy aspect of the Cardano ecosystem, making it more appealing for users concerned with these aspects.

In summary, this app could substantially enhance the value and functionality of the Cardano ecosystem, encouraging wider adoption of its blockchain technology and contributing to its mission of decentralizing global finance.

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

The introduction of this blockchain-based peer-to-peer escrow app has the potential to significantly impact Cardano's productivity and growth, both in the short and long term.

Short Term:

• Increased Engagement: In the short term, the launch of the app could lead to increased user engagement within the Cardano ecosystem, as users leverage the platform for secure, decentralized transactions. Our projection is to initiate 240,000+ transaction in Cardano blockchain within the first year after launch.
• Higher Transaction Volume: As the app starts to gain traction, it could lead to an increase in the volume of transactions on the Cardano network, contributing to its overall activity and productivity. Our projection is to create 12+ Million USD transaction volume within the first year after launch.
• Expanded User Base: The app's promise of full anonymity and low transaction costs could attract a new demographic of users, expanding Cardano's user base. Our projection is to onboard 50,000+ users to Cardano blockchain within the first year after launch.

Long Term:

• Global Adoption: In the long term, this app could serve as a gateway to global adoption of the Cardano blockchain. By providing a solution for financial inclusivity, the app can potentially penetrate emerging markets and reach the unbanked, enhancing Cardano's global reach.
• Ecosystem Growth: The success of this app could inspire other developers to create innovative solutions on the Cardano blockchain, fostering an environment of growth and innovation within the ecosystem.
• Increased Demand for ADA: As more users engage with the app, the demand for Cardano's native token, ADA, could increase. This could potentially lead to a positive impact on ADA's value over time.
• Decentralization & Anonymity Norm: This app could help establish a new standard for transactional anonymity and privacy within the blockchain industry, influencing future developments not just on Cardano, but potentially across the broader blockchain landscape.

By enhancing the Cardano ecosystem's capabilities and offering value-added services to its users, this app could significantly contribute to Cardano's productivity and growth in both the short and long term.

[IMPACT] How do you intend to measure the success of your project?

Quantitative metrics provide numerical data that can be measured and analyzed over time. For our blockchain-based peer-to-peer escrow app within the Cardano ecosystem, potential quantitative metrics could include:

• Number of Transactions: This refers to the total number of transactions facilitated by the app. This could be broken down further into types of transactions, such as those involving escrow or dispute resolution.
• Active Users: The number of active users on the app can provide a strong indicator of its popularity and utility. This can be measured daily (DAU), monthly (MAU), or even annually.
• Transaction Volume: This metric measures the total value of all transactions conducted within the app, usually represented in ADA, Cardano's native token.
• New User Acquisition: Tracking the number of new users who download and use the app over a specific period can provide insights into its growth rate.
• Retention Rate: This measures the percentage of users who continue to use the app over a certain time period after their first use, providing insights into its long-term appeal.
• Average Transaction Value: This measures the average value of transactions carried out on the app, providing insights into the typical use case and user behavior.
• Escrow Resolution Time: This metric would track the average time it takes for an escrow dispute to be resolved, giving an indication of the app's efficiency.
• Transaction Fees Saved: By comparing the cost of transactions on the app to those of traditional financial systems, you could estimate the total amount of transaction fees users have saved.

Each of these quantitative metrics provides valuable information that can be used to assess the app's performance, user behavior, and growth over time.

Qualitative measures are also significant when assessing the benefits and impact of a project. For our blockchain-based peer-to-peer escrow app within the Cardano ecosystem, qualitative metrics could include:

• User Satisfaction: Surveys and user feedback can provide insights into how satisfied users are with the app. Feedback on its usability, performance, and overall value can be crucial in understanding its effectiveness and areas for improvement.
• Perceived Security: User opinions regarding the security of transactions made through the app are crucial. This can be assessed through surveys, reviews, and direct user feedback.
• Quality of Customer Support: Effective customer support is essential for any application. Gathering user feedback on their experiences with customer support can provide a qualitative measure of the app's service quality.

While qualitative metrics may not provide numerical data, they offer invaluable insights into user experience, satisfaction, and perception. These can be vital in refining the app and contributing to its long-term success.

[IMPACT] Please describe your plans to share the outputs and results of your project?

To effectively spread the project's outputs over a reasonable timescale, we have developed a comprehensive dissemination plan that incorporates the following strategies:

1. Progress Reports: We will regularly publish detailed progress reports outlining the actions taken, key performance indicators (KPIs) achieved during the period, and the planned actions for the next phase. These reports will provide stakeholders with a clear understanding of the project's advancements and milestones.
2. Dynamic Analytic Dashboard: We will establish a publicly accessible analytical dashboard that dynamically displays the project's KPI results in real-time. This interactive tool will enable anyone interested to track the project's performance and assess its impact as it unfolds.
3. Publicly Available Task Management Dashboard: A task management dashboard will be made available to the public, providing visibility into the project's task allocation and progress. This platform will allow stakeholders to monitor the current tasks, ongoing activities, and completed actions, ensuring transparency and accountability.

By implementing these strategies, we aim to foster transparency, engagement, and collaboration among stakeholders. The progress reports, dynamic analytic dashboard, and public task management dashboard will collectively facilitate effective communication, enable real-time tracking, and ensure that the project's outputs and activities are disseminated in a timely and accessible manner.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

Hasan Basri CENK is a seasoned entrepreneur and product manager, specializing in Product Management, Project Management, Marketing, and Finance. With a strong background in these areas, he brings valuable expertise to the table. Currently, he works as a consultant, focusing on the exciting fields of AI and Web3. To learn more about his qualifications and accomplishments, you can click here to see his resume.

Emre COSKUNCAY is an experienced flutter developer with a specialization in Mobile Development. His proficiency in this area allows him to create high-quality mobile applications. To explore his skills and professional background in detail, you can click here to see his resume.

For Backend Development, we have Burak SEN, a talented full stack developer. With a diverse skill set and a strong technical background, he consistently delivers robust solutions. To learn more about his expertise and experience, you can click here to see his resume.

Burak UYAR is a competent full stack developer with a specialization in Smart Contract Development and Blockchain Integrations. With his knowledge and experience in the blockchain space, he brings a unique perspective to projects requiring these technologies. To delve deeper into his qualifications, you can click here to see his resume.

As for UI Design, we have a dedicated team of outsourced professionals who excel in this field. Their expertise ensures visually appealing and user-friendly designs for our projects.

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

The main goals for the blockchain-based peer-to-peer escrow app are as follows:

1. Develop a Secure and Decentralized Platform: Our primary goal is to build a secure, blockchain-based, peer-to-peer escrow and dispute resolution platform that leverages Cardano's efficient and scalable architecture.
2. Promote Financial Inclusion: We aim to make the financial system more accessible and inclusive by enabling anyone, including the unbanked and underbanked, to participate in secure business transactions without barriers of high costs or need for identifiable information.
3. Increase Anonymity in Transactions: We strive to uphold user privacy by enabling fully anonymous transactions.
4. Reduce Transaction Costs: We aim to significantly cut down transaction fees compared to traditional financial systems, making transactions more affordable for users.
5. Grow the Cardano Ecosystem: We seek to attract a considerable number of new users to the Cardano ecosystem, boost the volume of transactions, and inspire further innovations in the space.

To validate the feasibility of our approach, we'll employ a combination of methods:

1. Prototype Development and Testing: Before launching the full version of the app, we'll develop a prototype and conduct rigorous testing to ensure it functions as intended and is user-friendly.
2. Market Research: We'll conduct extensive market research to understand user needs and preferences, the competitive landscape, and potential obstacles to adoption.
3. User Feedback: We'll seek early user feedback on the app's functionality, usability, and value proposition. This feedback will be invaluable in making necessary adjustments and improvements.
4. Soft Launch: A soft launch with a limited number of users will allow us to gather real-time data on the app's performance, user engagement, and transaction volume, validating its effectiveness and scalability.
5. Performance Metrics: Post-launch, we'll continuously monitor key performance metrics, such as the number of users, transaction volume, transaction value, and dispute resolution time, to evaluate the app's success in achieving its goals.

By applying these methods, we can validate the feasibility of our approach and make data-driven decisions to ensure the success of our project.

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1: Product Design

Budget: 49,770 ADA (9.95% of requested grant amount)

Duration: 9 weeks (from beginning of week 1 to end of week 9)

Detailed Breakdown:

• A) UX & UI Design
• User research
• UX design
• Mobile screen design
• Web screen design
• Prototyping, and usability testing
• Revision if necessary
• B) Technical Infrastructures
• Designing database structure
• Establishing database
• Designing remote config structure
• Implementing remote config parameters
• Setting Swagger to document and publish APIs
• Setting analytics tool

Acceptance criteria:

• Usability test passing for prototype
• Publishing internal technical specification document covering infrastructure specifications

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Milestone 2: Blockchain Development

Budget: 99,225 ADA (19.85% of requested grant amount)

Duration: 15 weeks (from beginning of week 10 to end of week 24)

Detailed Breakdown:

• A) Authentication
• No-login feature
• Easy login feature
• Classical login feature
• Login by wallet feature
• web3 ID feature
• B) Escrow Mechanism
• Developing give commitment flow
• Developing demand assurance flow
• Implementing blockchain solution
• Supporting selected coins, including ADA, BTC, USDT
• C) Dispute Resolution
• Enhancing randomly assigned jury process for fairness and impartiality
• Implementing gradual dispute resolution

Acceptance criteria:

• Passing smoke tests for each login method
• Passing smoke tests for main escrow usage flows
• Passing smoke tests for main dispute resolution flows

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Milestone 3: App Development

Budget: 141,435 ADA (28.29% of requested grant amount)

Duration: 21 weeks (from beginning of week 12 to end of week 32)

Detailed Breakdown:

• A) Mobile Development
• Flutter development
• Testing
• Bug fixing
• B) Web Development
• Frontend development based on a ready-to-use template
• Testing
• Bug fixing
• C) Notification System
• Push notification
• Email notification
• Telegram notification
• Discord notification
• D) Referral System
• Dynamic link implementation
• Unique referral link implementation
• Referral tracking, and rewarding mechanism
• Shortcuts to share
• E) Chat Feature
• Transaction-attached chat feature
• F) KYC procedures if necessary
• This will be examined in detail by legal aspect

Acceptance criteria:

• Publishing APKs or test flight app for mobile apps
• Publishing web app in test environment
• Passing user acceptance tests for each apps
• Passing smoke tests for each notification method
• Passing smoke tests for main referral flows
• Passing smoke test for chat feature

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Milestone 4: Soft Launch

Budget: 89,502 ADA (17.90% of requested grant amount)

Duration: 6 weeks (from beginning of week 33 to end of week 38)

Detailed Breakdown:

• A) App Publishings
• IOS AppStore Listing
• Google PlayStore Listing
• Huawei AppGallery Listing
• Web App Publishing
• B) Community Campaigns
• Airdrop campaign
• Bug bounty campaign
• Bounty campaign
• C) Bug Fixing

Acceptance criteria:

• Listing mobile apps in IOS AppStore, Google PlayStore, and Huawei AppGallery
• Starting, and completing community campaigns

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Milestone 5: Full Launch and Growth

Budget: 120,068 ADA (24.01% of requested grant amount)

Duration: 14 weeks (from beginning of week 39 to end of week 52)

Detailed Breakdown:

• A) Digital Ads
• B) Launch Event
• C) Public Relations
• Event participations
• Sponsorships
• D) Product Optimization
• KPI tracking
• Backlog management
• Iterative development
• Testing

Acceptance criteria:

• Producing ad contents, and publishing them
• Organizing a launch event
• Participating to at least two events
• Sponsoring at least one event
• Conducting scrum routines regularly

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

Milestone 1: Product Design

Budget: 49,770 ADA (9.95% of requested grant amount)

Duration: 9 weeks (from beginning of week 1 to end of week 9)

Deliverables:

• Figma design files
• Prototype
• Internal technical specification document

Acceptance criteria:

• Usability test passing for prototype
• Publishing internal technical specification document covering infrastructure specifications

Intended outcomes:

• Achieving high-level user experience

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Milestone 2: Blockchain Development

Budget: 99,225 ADA (19.85% of requested grant amount)

Duration: 15 weeks (from beginning of week 10 to end of week 24)

Deliverables:

• Smart contracts and/or blockchain integrations

Acceptance criteria:

• Passing smoke tests for each login method
• Passing smoke tests for main escrow usage flows
• Passing smoke tests for main dispute resolution flows

Intended outcomes:

• Seamless, and secure transactions

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Milestone 3: App Development

Budget: 141,435 ADA (28.29% of requested grant amount)

Duration: 21 weeks (from beginning of week 12 to end of week 32)

Deliverables:

• Mobile APKs and/or test flight publications
• Web app in test environment

Acceptance criteria:

• Publishing APKs or test flight app for mobile apps
• Publishing web app in test environment
• Passing user acceptance tests for each apps
• Passing smoke tests for each notification method
• Passing smoke tests for main referral flows
• Passing smoke test for chat feature

Intended outcomes:

• Bug-free apps

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Milestone 4: Soft Launch

Budget: 89,502 ADA (17.90% of requested grant amount)

Duration: 6 weeks (from beginning of week 33 to end of week 38)

Deliverables:

• Mobile app listings
• Promotional materials for community campaigns

Acceptance criteria:

• Listing mobile apps in IOS AppStore, Google PlayStore, and Huawei AppGallery
• Starting, and completing community campaigns

Intended outcomes:

• Bug-free apps
• Onboarding first 1,000 users

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Milestone 5: Full Launch and Growth

Budget: 120,068 ADA (24.01% of requested grant amount)

Duration: 14 weeks (from beginning of week 39 to end of week 52)

Deliverables:

• Ad contents, and ad publications
• Launch event
• PR contents
• Scrum dashboard

Acceptance criteria:

• Producing ad contents, and publishing them
• Organizing a launch event
• Participating to at least two events
• Sponsoring at least one event
• Conducting scrum routines regularly

Intended outcomes:

• Agility in product optimization
• Onboarding first 10,000 users

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

Milestone 1: Product Design

Budget: 49,770 ADA (9.95% of requested grant amount)

Duration: 9 weeks (from beginning of week 1 to end of week 9)

• Project Lead: 24,300 ADA
• Duration: 9 weeks
• Effort: 30 hours per week
• Total Effort: 270 hours
• Hourly rate: 90 ADA
• Backend Developer: 6,000 ADA
• Duration: 4 weeks
• Effort: 20 hours per week
• Total Effort: 80 hours
• Hourly rate: 75 ADA
• Flutter Developer: 3,000 ADA
• Duration: 2 weeks
• Effort: 20 hours per week
• Total Effort: 40 hours
• Hourly rate: 75 ADA
• Blockchain Developer: 4,500 ADA
• Duration: 2 weeks
• Effort: 15 hours per week
• Total Effort: 30 hours
• Hourly rate: 150 ADA
• Outsourced Designer: 9,600 ADA
• Duration: 8 weeks
• Effort: 30 hours per week
• Total Effort: 240 hours
• Hourly rate: 40 ADA
• Miscellaneous Cost: 2,370 ADA

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Milestone 2: Blockchain Development

Budget: 99,225 ADA (19.85% of requested grant amount)

Duration: 15 weeks (from beginning of week 10 to end of week 24)

• Project Lead: 27,000 ADA
• Duration: 15 weeks
• Effort: 20 hours per week
• Total Effort: 300 hours
• Hourly rate: 90 ADA
• Blockchain Developer: 67,500 ADA
• Duration: 15 weeks
• Effort: 30 hours per week
• Total Effort: 450 hours
• Hourly rate: 150 ADA
• Miscellaneous Cost: 4,725 ADA

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Milestone 3: App Development

Budget: 141,435 ADA (28.29% of requested grant amount)

Duration: 21 weeks (from beginning of week 12 to end of week 32)

• Project Lead: 37,800 ADA
• Duration: 21 weeks
• Effort: 20 hours per week
• Total Effort: 420 hours
• Hourly rate: 90 ADA
• Backend Developer: 47,250 ADA
• Duration: 21 weeks
• Effort: 30 hours per week
• Total Effort: 630 hours
• Hourly rate: 75 ADA
• Flutter Developer: 47,250 ADA
• Duration: 21 weeks
• Effort: 30 hours per week
• Total Effort: 630 hours
• Hourly rate: 75 ADA
• Outsourced Designer: 2,400 ADA
• Duration: 4 weeks
• Effort: 15 hours per week
• Total Effort: 60 hours
• Hourly rate: 40 ADA
• Miscellaneous Cost: 6,735 ADA

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Milestone 4: Soft Launch

Budget: 89,502 ADA (17.90% of requested grant amount)

Duration: 6 weeks (from beginning of week 33 to end of week 38)

• Project Lead: 16,200 ADA
• Duration: 6 weeks
• Effort: 30 hours per week
• Total Effort: 180 hours
• Hourly rate: 90 ADA
• Backend Developer: 9,000 ADA
• Duration: 6 weeks
• Effort: 20 hours per week
• Total Effort: 120 hours
• Hourly rate: 75 ADA
• Flutter Developer: 9,000 ADA
• Duration: 6 weeks
• Effort: 20 hours per week
• Total Effort: 120 hours
• Hourly rate: 75 ADA
• Blockchain Developer: 4,500 ADA
• Duration: 3 weeks
• Effort: 10 hours per week
• Total Effort: 30 hours
• Hourly rate: 150 ADA
• Outsourced Designer: 2,400 ADA
• Duration: 6 weeks
• Effort: 10 hours per week
• Total Effort: 60 hours
• Hourly rate: 40 ADA
• Marketing Budget: 44,140 ADA
• Miscellaneous Cost: 4,262 ADA

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Milestone 5: Full Launch and Growth

Budget: 120,068 ADA (24.01% of requested grant amount)

Duration: 14 weeks (from beginning of week 39 to end of week 52)

• Project Lead: 37,800 ADA
• Duration: 14 weeks
• Effort: 30 hours per week
• Total Effort: 420 hours
• Hourly rate: 90 ADA
• Backend Developer: 21,000 ADA
• Duration: 14 weeks
• Effort: 20 hours per week
• Total Effort: 280 hours
• Hourly rate: 75 ADA
• Flutter Developer: 21,000 ADA
• Duration: 14 weeks
• Effort: 20 hours per week
• Total Effort: 280 hours
• Hourly rate: 75 ADA
• Blockchain Developer: 10,500 ADA
• Duration: 14 weeks
• Effort: 5 hours per week
• Total Effort: 70 hours
• Hourly rate: 150 ADA
• Outsourced Designer: 5,600 ADA
• Duration: 14 weeks
• Effort: 10 hours per week
• Total Effort: 140 hours
• Hourly rate: 40 ADA
• Marketing Budget: 18,450 ADA
• Miscellaneous Cost: 5,718 ADA

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

Total projected costs: 500,000 ADA

• Staffing Cost: 413,600 ADA (82,72%)
• Project Lead: 143,100 ADA (28,62%)
• Backend Developer: 83,250 ADA (16,65%)
• Flutter Developer: 80,250 ADA (16,05%)
• Blockchain Developer: 87,000 ADA (17,4%)
• Outsourced Designer: 20,000 ADA (4%)
• Marketing Budget: 62,590 ADA (12,52%)
• Miscellaneous: 23,810 ADA (4,76%)

Glassdoor salary informations to prove assumptions used in budget planning

• Project Lead Salary
• Net salary: 130,000 TRY
• Gross salary: 180,000 TRY
• Hour per month: 180 hours
• Hourly rate: 1,000 TRY -> 40 USD -> 130 ADA
• Budgeted hourly rate -> 90 ADA

• Backend Developer & Flutter Developer Salary
• Net salary: 80,000 TRY
• Gross salary: 110,000 TRY
• Hour per month: 180 hours
• Hourly rate: 611 TRY -> 25 USD -> 80 ADA
• Budgeted hourly rate -> 75 ADA

• Blockchain Developer Salary
• Gross salary: 11,000 USD
• Hour per month: 180 hours
• Hourly rate: 61 USD -> 200 ADA
• Budgeted hourly rate -> 150 ADA

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept