Optim+Maestro ISPO Integration and Education Initiative

[GENERAL] Name and surname of main applicant

Ethan Protas

[GENERAL] Email address of main applicant

ethan@optim.finance | info@gomaestro.org

Additional applicants

Maksymilian Brodowicz

Marvin Bertin

Varderes Barsegyan

[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] 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 dependancies

[GENERAL] Will your project’s output/s be fully open source?

Yes

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

Project will be fully open source

[METADATA] Category of proposal

DeFi

[IMPACT] Please describe your proposed solution.

Optim Finance and Maestro will collaborate to provide users with an easy and seamless way to borrow ADA delegation and gain leverage into Initial Stake Pool Offerings (ISPOs).

This unique solution enables users to delegate to and support ISPOs with far greater amounts of ADA than they own.

Maestro will integrate Optim Finance's smart contracts into its platform, allowing users to connect their wallets and access Optim Finance's borrowing features seamlessly.

User Benefits: Earn far more governance tokens in ISPOs than they otherwise would

Project Benefits: Receive more funds to build by supporters able to delegate more ADA to ISPO

Ecosystem Benefits: More projects can fundraise greater amounts and build ecosystem 

Example: John wants to delegate 250K ADA to the Fluid Token (FLDT) ISPO

  However, John does not have 250K ADA to delegate…

  

1) John puts out a an offer to pay 7% interest for 6 months of ADA staking rights

2) A bond is ‘issued’, 8750 ADA interest is owed (236 per epoch), 12 epochs pre-paid

3) Lenders see this offer and lock their ADA in the Optim smart contract

4) The 250K ADA borrow request is met, the bond is activated and John attaches his stake key

*If the bond at any time does not have a 6 epoch buffer of 7% interest paid into it lenders can withdraw their ADA and keep the 6 epoch interest buffer thereby earning above 7% yield 

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

Our solution will make it easier for more people to delegate large amounts of ADA in ISPOs

ISPOs which get more ADA delegation will raise more funds for their projects.

This will enable more projects to build due to this enhanced fundraising ability.

Community Impact

Increase participation in ISPOs by allowing leverage

Increase participation and literacy around DeFi

Increase ADA TVL in DeFi (often cited metric)

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

In the context of leveraging Optim Finance through Maestro’s platform, we will measure the success of this project by monitoring several key metrics and outcomes:

1. Number of users that borrow ADA delegation.
2. Total amount of ADA that is borrowed.
3. Number of stake pool operators participating in ISPOs.
4. Feedback and User Satisfaction.

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

The Optim integration on Maestro’s platform will be readily available to the public. Users will be able to connect their wallets, borrow ADA and delegate it to ISPO stake pools that are listed on Maestro. 

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

Members Optim Finance and Maestro have both led high-impact projects in the Cardano ecosystem. 

Optim Finance has a proven track record of delivering dApps to mainnet. Optim's first product, Liquidity Bonds, had over 12MM ADA in TVL (top 10 DeFi protocol). This is the first of many products in our pipeline. Team members have years of experience building on Cardano (Minswap, IOHK alum)

Maestro has a proven track record in providing Cardano infrastructure services: Blockchain Indexer, Transaction Manager and Turbo Transaction. In particular Maestro’s indexer endpoints averages 300,000 requests / day and is being used to power top projects and dApps on Cardano. A managed smart contract API plays perfectly into the strengths of Maestro’s platform and thus guarantees a high level of success. 

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

The main goal of this project is to provide delegators and SPOs a seamless way to borrow ADA from Optim Finance’s platform and delegate it to ISPO stake pools that are listed on Maestro’s platform.

[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.

Phase 1: Preview/Preprod Integration - 4 months

Maestro will integrate the Optim platform into Maestro’s staging environment on the Cardano testnets. Both teams will extensively test borrowing and delegation until a seamless user experience is achieved.

Phase 2: Mainnet Integration - 1 month

Once the testnet integration is working flawlessly, mainnet integration will commence. Phase 1 will enable this integration to work with little to no issues.

Phase 3: Release and Maintenance - 1 month+

Mainnet integration will be released to the public with extensive documentation. As long as this collaboration is ongoing, the service will be actively maintained. 

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

The primary deliverable of this project is simple: a self-service platform on Maestro that enables seamless borrowing of ADA for ISPO stake pools using Optim Finance’s platform.

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

Phase 1: Preview/Preprod Integration - 4 months

$55/hr x 18 weeks x 30hr/week = $29 700

Phase 2: Mainnet Integration - 1 month

$55/hr x 4.5 weeks x 30hr/week = $7 425

Phase 3: Release and Maintenance - 1 month

$55/hr x 4.5 weeks x 30hr/week = $7 425

TOTAL ($) = $44,500

TOTLA ($0.3/ADA) = 148 500 ADA

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

The costs described are standard and fair for software development and implementation on Cardano.

We decided the costs based on our experience and analysis of what it will take to complete project.

For a fair cost the teams can integrate unique products and platforms that enable Cardano ecosystem project to raise funds for development in a decentralized and sustainable manner.

[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