Tekmirio Non-Custodial NFT Staking Platform

[GENERAL] Name and surname of main applicant

Chris Nunez

[GENERAL] Email address of main applicant

sales@santoelectronics.com

Additional applicants

None

[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.” .

None

[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 are using open source developer tools from Helios, Lucid and Koios to develop our product.

[METADATA] Category of Proposal

dApp

[IMPACT] Please describe your proposed solution.

SUMMARY PROPOSAL

Problem Statement:

The current NFT Staking solutions available for Cardano are too expensive charging projects 5,000 to 15,000 ADA per project. Examples include solutions from CardanoLands , Mutant Labs and Anvil Dev Agency

Project Response to the Problem:

Enhance an existing Non-Custodial Staking MVP Web3 dApp that tracks every NFT in the users wallet and rewards Cardano native tokens with a new hybrid Web2 / Web3 business model. $5/month Subscriptions for members that give them a 25% boost in rewards. Non-Members can stake and claim for free, but without the boost.

Project Status:

Expanding on what is already in place at https://tekmirio.xyz

Project Team: A team of developers lead by Santo Electronics (Santo Stake Pool) with marketing, software, back-end, front-end and network operations experience, all working together by sharing skills and collaborating. The team has practical and expert knowledge in Cardano, Marketing, Stake Pool Operations, Blockchain, Databases, JavaScript, Plutus & Haskell, Web2 and Web3.

Funding Ask Amount: 100,000 ADA

DETAILED PROPOSAL

PILOT PROJECT

The pilot project started in February 2023 thru June 2023 to provide a staking capability (v1) for Ada Hackers NFT collection and its users. https://adahackers.com The team also partnered with OsmiumDAO and Rogue Primate NFT projects in this effort.

The rewards chosen for the pilot was vADA and pADA from https://testnetcoins.io. This effort gave the team great insight into the needs and demands of NFT holders as well as the requirements of the reward token selected.

MVP PROJECT

The team has already completed a working MVP (minimum viable product) of the new Tekmirio NFT Staking Platform. The design goal was to make it as simple as possible and leverage the new JavaScript Development Tools from Helios, Lucid and Koios to deploy a fully functional modern Web3 decentralized application for the Cardano blockchain. The MVP is live now and can be found here https://app.tekmirio.xyz

Keep it Simple - Easy as 1, 2 3

Live Staking Dashboard displays everything you need to know in real time

Admin Screen used by the Reward Token owner to manage stakes and claim requests

Reward Calculator <- live link

Project Timeline and Deliverables

Total Amount: 100,000 ADA ($27,000 USD @0.27)

Timeline: 12 months

Use of Proceeds

Promotions — 50% 50,000 ADA($13,500 USD @0.27 )

1. Partnerships, Discord Mods
2. Twitter Re-tweet Raids, Giveaways, Raffles
3. Liquidity Incentives, NFT Giveaways

New Development- 50% 50,000 ADA ($13,500 USD @0.27 )

1. - Integration of TestnetCoins.io SPO and Tester Claiming
2. - A New Customer/partner Token with Rewards Calculation Design
3. - Enhanced Reporting and Statistics of Staking and Claiming
4. - Parameterization of Token Reward Calcs per Customer
5. - Adding Governance Proposals and Voting on Parameter Changes

PROJECT RISKS

Assumptions

All assumptions and forecasts are risky. Our forecasted assumptions are based on the small test of 78 addresses that staked their NFTs with us over 124 days. We saw about 5% of those users signup for the $5/mo subscription service. The conservative forecast above is based on capturing 5000 addresses (2024), 30,000 (2025) and 100,000 (2026). This is a reasonable assumption based on the estimated total 500,000 active Cardano addresses today and we expect this number to grow. https://cexplorer.io/wallets

Governance

We see governance and the strategic decision making within the group going forward to be a risk. We will solve this in 2024 with a working DAO of Tekmirio subscribers of the new Staking Platform who will propose and vote on improvements, partnerships and new reward calculations.

Liquidity

Obtaining sufficient liquidity for the reward tokens to trade efficiently on Cardano DEXs is a major risk for all staking applications and tokens.

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

Tekmirio is a brand new NFT Staking product that is free for all Cardano NFT Projects to use to add utility/value and will also help Incentivize Cardano Testnet by distributing rewards of TestnetCoins.io Proof of Participation tokens.

• Will distribute vADA and pADA to support Cardano Testnet and Testnetcoins.io
• Cardano Community can stake ALL their NFTs in their wallet and get rewards
• Free to use for ALL NFT Projects to add utility for their holders
• Even failed NFT projects can get rewards

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

Development

We will track developer activity on Github and publish the development progress on a regular basis via Twitter, Discord and our Websites.

Marketing & Promotions

We will be posting daily on Twitter and Discord as our community grows.

https://twitter.com/tekmirionft https://discord.gg/hTw6vTPsxU

Marketing success will be measured by obtaining at least ONE new blue chip Cardano Token Distribution partner to expand our value proposition to our subscribers and user base.

Financial Success will be measured based on meeting our 2024 financial projections.

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

Our dApp automatically tracks number of users, wallets, staking and claiming activity. We will publish the growth of our user base on a regular basis on Twitter, Discord and our websites.

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

It is our opinion that we have already demonstrated a high level of feasibility with our PILOT and MVP. This coupled with a track record of success of the founders past experience creates a high feasibility of meeting our goals.

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

We believe we have already made great progress with the viability of our approach during the pilot and the MVP launch with over 30,000 NFT staked in 180+ wallets.

• Our team has already delivered a pilot and a working MVP of the app
• Community has already started adopting our business model with over 20 paying subscribers.
• The team is already working together delivering on new features and onboarding.

Project Goals

Increase in Marketing Activities

• Onboard one to three new reward token project partnerships
• Discord Moderators (add three new moderators)
• Twitter Followers (increase from 200 to 1,000 (all organic)
• Increase Testnetcoins engagement (add 20 additional SPOs and 100 more testers)

Increase in Development Activities

• Integration of TestnetCoins SPO and Tester Claiming into Tekmirio
• One to Three new Token with Rewards Calculation Design
• Enhanced Reporting and Statistics of Staking and Claiming
• Parameterization of Token Reward Calcs per Customer
• Governance Proposals and Voting on Parameter Changes (via NFT ownership)

[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.

Marketing Activities

1Q24 (25%)

• Discord Moderators (add three new moderators)

2Q24 (25%)

• Twitter Followers (increase from 200 to 1,000+ (all organic)

3Q24 (25%)

• Onboard One to Three new reward token project partnerships

4Q24 (25% Final)

• Increase Testnetcoins engagement add 10 additional SPOs (10 now) and 100 more testers (100 now)

Development Activities

1Q24 (25%)

• Integration of TestnetCoins SPO and Tester Reward Claiming into Tekmirio

2Q24 (25%)

• Enhanced Reporting and Statistics of Staking and Claiming

3Q24 (25%)

• Add One to Three new Reward Tokens with Rewards Calculation Designs

4Q24 (25% Final)

• Parameterization of Token Reward Calcs per Customer making it easier to onboard new clients
• Add Governance Proposals and Voting on Parameter Changes to the app (via NFT ownership)

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

ONE YEAR GOALS

Marketing Deliverables

1. Partnerships, Discord Mods
2. Twitter Re-tweet Raids, Giveaways, Raffles
3. Liquidity Incentives, NFT Giveaways
4. Obtain at least one to three new blue chip token distribution partners

Development Deliverable

1. - Integration of TestnetCoins.io SPO and Tester Claiming
2. - A New Customer/partner Token with Rewards Calculation Design
3. - Enhanced Reporting and Statistics of Staking and Claiming
4. - Parameterization of Token Reward Calcs per Customer
5. - Adding Governance Proposals and Voting on Parameter Changes

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

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

Our primary value to the Cardano ecosystem is creating an Incentivized Testnet.

Because the first reward program of Tekmirio is https://testnetcoins.io vADA and pADA mainnet tokens, this will engage more users in Testnet, reward SPOs and Testers for participating in Testnet and increase the value of Cardano's Testnets which today has no value. As an example, Polkadot has Kusama which is their canary Testnet ecosystem and $KSM token has a market cap of $200 Million USD. https://coinmarketcap.com/currencies/kusama/

[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