CIP 102 v2 - New Royalty Functionality

[GENERAL] Name and surname of main applicant

Sam Delaney

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

Individual

[GENERAL] Requested funds in ada

17412

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

2

[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)

V2 will continue to build on the foundation of CIP-102 with several more key improvements, including multiple royalty policies within a single collection, standardized royalty validators, and more.

[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

CIPs are all done in a public repository and are necessarily open source. The additional outputs, such as royalty validators, will also be included in the same public repository.

[SOLUTION] Please describe your proposed solution.

Since the creation of CIP-27 years ago, the types of royalties that can be created on Cardano have stayed almost entirely the same, all the way up until the ratification of CIP-102 in October 2023 which included on-chain assurances, evolvability & multi-address royalties. Version two of the standard will build on that foundation and allow for multiple royalty policies to be attached to a single collection, establish standardized, trustworthy royalty validators, and provide a smoother experience for developers.

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

By continuing to push the boundaries of what's possible with Cardano NFTs, we provide creators with the tools they need to create more innovative NFT collections, and attract more artists and collectors to use Cardano.

[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?

As the author of CIP-102, I am the most qualified person to continue to expand on the standard.

As a developer & member of the Grabbit team, I have a production NFT marketplace at my disposal to test the features before ratifying them and make sure all aspects will work as intended.

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

Standardization:

Version 2 of the CIP-102 standard will be written, reviewed by the community, and ratified by the panel of CIP editors.

Implementation:

A reference implementation including the new features outlined in V2 of the standard will be available in the ref_impl subfolder of the CIP-0102 standard's folder at the official CIPs repository.

3-5 open source tools that already support CIP-102 will be updated to support the new CIP-102 functionality as well.

The final milestone will also include a project closeout report & promotional material informing the public of the new changes.

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

Sam Delaney - Senior Smart Contact Engineer: https://www.linkedin.com/in/samuel-delaney/

I will author the standard and develop the reference implementation & integrations, as I did and am doing for the original CIP-102 standard.

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

According to Crunchbase & LinkedIn, the average global salary for a smart contract developer is $146,259 per year. The following calculations are based on that estimate.

• Standardization (1/4 dev, 2 weeks = $1,523.53 / ₳4,352.94)
• Implementation - (1/4 dev, 1 month weeks = $3,047.06 / ₳8,705.89)
• Final - Integrations - (1/4 dev, 2 weeks = $1,523.53 / ₳4,352.94)

Total - $6,094.13 / ₳17,411.77

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

I am an established CIP author & developer, asking near the minimum amount allowed to a proposal to provide a significant improvement to the entire Cardano ecosystem. I personally believe this is about as low cost, high reward as a proposal can possibly be.

[IMPORTANT NOTE] The Applicant agrees to Fund 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