Defi & NFT-First Light Wallet by The Ape Society

[GENERAL] Name and surname of main applicant

Tye Smith

[GENERAL] Email address of main applicant

tye.smith@apesociety.org

Additional applicants

AdaLegend / adalegend@apesociety.org

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

7

[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 will not open source the wallet in the short term. This is to reduce security concerns and have control of the heavily branded elements and IP of the wallet.

[METADATA] Category of Proposal

Wallet

[IMPACT] Please describe your proposed solution.

Members of The Ape Society DAO and the founding team (Ape Force One) have done extensive work throughout the last year and a half onboarding users onto the Cardano blockchain. In almost every instance, the first question is: What is the best wallet to use? In these situations, the community names many different wallets, but each has significant drawbacks whether it’s speed, UI, inefficient UTXO-management, ease of use, etc. Many of the new members eventually leave or become frustrated as the wallet experience comes nowhere close to matching what they’ve experienced on other chains. There are very limited mobile options, and each choice results in the user sacrificing something else.

After gaining experience fielding many of these issues through products and services built by our team on Cardano, Ape Force One is uniquely equipped to tackle this issue. The team has extensive UX experience, quality developers, designers, and a community of the most impassioned NFT and DeFi enthusiasts on the chain.

In collaboration, The Ape Society DAO and Ape Force One will create a light wallet that’s perfect for the next wave of retail. A few of the important features will include:

• Mandated Single Address Use w/ the ability to condense from other wallets
• Smooth Fungible Token & NFT Browsing - Once holding more than a few NFTs, current wallets become bogged down and images are slow to load. In addition, it’s extremely difficult to manage one’s portfolio
• Easy Staking
• Built in/Invisible UTXO management - Many errors occur in wallets because of UTXO issues. As users operate their wallet, we’ll resolve their UTXO issues within their transfers and transactions
• Mobile & Web Apps
• First Class Branding uniquely created for this product

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

This solution would bring a free first class wallet to the ecosystem, providing additional value to every single application on-chain. It will onboard tens of thousands of users from other chains. As it stands, The Ape Society is the most recognizable Cardano brand by non-Cardano users, many will give the chain a chance when learning we’ve built a wallet. As the top NFT project, we are confident that we will be the highest used wallet on the chain, and one that not only brings in users, but also retains them.

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

We aim for a 4.5+ star rating review on the Extensions store & mobile stores as well as being the top downloaded wallet on Cardano. Users will join our community and experience a wallet that’s just as good, if not better, than other chains.

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

Updates on our project will be shared on our social media pages, cross-chain spaces and within our highly active Discord community. We will collaborate with the DAO for testing which includes some of the most active NFT & DeFi super users on Cardano, many of which have thousands of different tokens to transact with and will provide daily feedback/testing of the product. We will be able to test the wallet within our own dApps as well as the dApps of our close partners.

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

Ape Force One has delivered many highly used dApps and runs the #1 NFT Project on chain as well as one of the top tokens. AF1 currently runs Levvy (https://www.levvy.fi), which is the top lending protocol by volume, lending millions of ADA in its first few weeks. We use top of the line tech and work only with the best.

The team has successfully outperformed the market on all of its projects throughout the bear market and is arguably the most trusted team in the space.

They have also built a tight relationship with members of the DAO, a big community of Cardano super users willing to help provide feedback and test to make sure the most efficient and smooth experience can be provided for new users.

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

The primary goal for our project is to become the flagship wallet of the Cardano ecosystem. We want to be the wallet that all NFT & DeFi users use to perform the majority of their transactions on-chain.

[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.

Branding - 1 Month - A fully realized professional brand for the Wallet

UI/UX design - 1.5 Months - Working with our in house UX designer and our contracted UI/UX agency we will create an amazing wallet experience that addresses all concerns of users

Development - 4-6 Months - Creating a Chrome Wallet extension, as well as the beginnings of a Mobile App

Testing - 1 Month - Leverage the power of the TAS community to test and perfect the app

Launch - 1 Month - Produce a carefully crafted marketing campaign to launch the wallet and assist dApps with integration

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

The previous question outlines most of the milestones. We will begin by revealing our brand to the public, which has been carefully crafted. From there, we will create user stories and an interactive UI design. Early phases of the design will be shared with trusted community members.  

In tandem, we will work on the essentials of the development which includes but is not limited to: TX building, staking, dApp interaction, token browsing, NFT browsing, node integration, and more.

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

Audit - 100k ADA

Web Client Development - 300k ADA

Mobile Development - 150k ADA

UI Design - 80k ADA

UX Design - 30k ADA

Brand Design - 80k ADA

Social Media - 20k ADA

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

The costs represent the fair value of what it takes to make a high quality wallet, but still on a reasonable budget that Ape Force One is used to working on. When released, the financial value brought to the Cardano ecosystem will far outweigh the costs of this proposal.

[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