Indigo Iris: DEX API & Indexer

[GENERAL] Name and surname of main applicant

Zachary Sluder

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

Entity (Incorporated)

[GENERAL] Requested funds in ada

200000

[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] Summarize your solution to the problem (200-character limit including spaces)

Open-source indexer & API/websocket feed to solve DEX data accessibility issues, streamlining decentralized exchanges for better user empowerment, education, and community collaboration.

[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

Both the Cardano DEX blockchain indexer & API backends will be publicly available allowing developers to run their own instances for their projects, and be built using Typescript. The API also includes an OpenAPI specification for endpoint documentation (https://www.openapis.org/ ). You can view the Iris API specification at https://app.swaggerhub.com/apis/zsluder/Iris/1.0.0.

[SOLUTION] Please describe your proposed solution.

The proposed solution is an open-source indexer and API designed for decentralized exchanges within the Cardano blockchain ecosystem. These components aim to address existing challenges by providing developers and traders with streamlined access to order and DEX analytical data. While developers are able to run their own instances, we will maintain public instances ourselves to enable developers who may not want to run instances themselves, to still have access to the DEX data. 

Key components and features of the proposed solution include:

• DEX Indexer: Filters Cardano transactions for ones related to supported exchanges while formatting & storing liquidity pools and order transactions in a relational way, giving better readability & flexibility when interacting with data.
• API & Live Feed: Exposes indexed data for each DEX through a REST API & live websocket feed as DEX-related events happen on-chain. Live feed data includes updated order statuses, updated liquidity pool states, and general information like sync updates. 
• Data Accessibility: The API facilitates easy and real-time access to order information, trade history, and market analytics on decentralized exchanges operating on the Cardano blockchain.
• Historical Data: Historical liquidity pool and order data empowers traders to be better informed on what they may trade. This includes historical states for each liquidity pool and historical swaps/deposits/withdrawals/zap orders, along with their statuses throughout the ordering lifecycle.
• Standardized Interface: The API employs a user-friendly and standardized interface, allowing developers to seamlessly integrate it into their applications, trading bots, and analytical tools.
• Compatibility Across Exchanges: The solution is designed to be compatible with multiple decentralized exchanges on Cardano, eliminating the need for developers to navigate & understand different data structures and protocols.
• Documentation: Comprehensive documentation will be provided, offering clear guidelines on API integration, functionality, and best practices. This facilitates a smooth experience for developers and users.
• Continuous Improvement: Regular updates and maintenance are planned to adapt the API & indexer to updates from the supported DEXs, as well as support newly launched DEXs. A feedback loop with the community contributes to ongoing improvements.

The Iris tooling along with our open-sourced DEX SDK Dexter (https://github.com/IndigoProtocol/dexter), both will give developers a full suite of tools when interacting indirectly with Cardano DEXs.

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

Firstly, this project enhances accessibility to decentralized exchange data on the Cardano network by providing developers with streamlined tools to gather order, liquidity pool, and analytical data. This accessibility promotes innovation and tools tailored to trading on Cardano.

The collaborative and open-source nature of the Iris tooling promotes community-driven development, encouraging developers to contribute and improve the tools continuously. This collaborative effort strengthens the Cardano community by fostering a culture of innovation, knowledge-sharing, and support.

[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?

The Indigo Labs team has a proven track record, having successfully launched impactful products like the Indigo Protocol and the Dexter DEX SDK. With a deep understanding of DEX-related data, we excel in crafting tools that seamlessly interface with and leverage this information. Our team is also well versed in Typescript, which is the chosen language to build Iris.

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

Completion of integration for DEX indexers including Minswap, WingRiders, SundaeSwap, VyFinance, MuesliSwap, and Spectrum.

Expected Timeline: 10 weeks

Completion of API to interface with indexed data.

Expected Timeline: 8 weeks

Completion of automated testing for indexer, API, and websocket feeds to aid open-source development.

Expected Timeline: 3 weeks

Completion of code documentation for open-source & installation documentation.

Expected Timeline: 3 weeks

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

Eric Coley - CEO

Cody Butz - CTO

Zachary Sluder - Developer

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

• Infrastructure: 
• 15,000₳
• Completion of integration for DEX indexers including Minswap, WingRiders, SundaeSwap, VyFinance, MuesliSwap, and Spectrum.
• 80,000₳
• Completion of API to interface with indexed data.
• 75,000₳
• Completion of automated testing for indexer, API, and websocket feeds to aid open-source development.
• 10,000₳
• Completion of code documentation for open-source & installation documentation.
• 20,000₳

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

• Enhanced Accessibility: Facilitates real-time access to order and liquidity pool transaction data, fostering a transparent and efficient DeFi environment on Cardano.
• Increased Participation: Attracts a broader user base by addressing challenges like limited data accessibility and decentralized exchange fragmentation, promoting ecosystem growth.
• Empowerment of Developers: Provides a user-friendly, standardized interface for developers, enabling the creation of diverse applications, trading bots, and analytic tools.
• Informed Decision-Making: Empowers traders with crucial information, facilitating well-informed decision-making in the Cardano trading space.
• Long-Term Sustainability: The open-source, collaborative nature ensures ongoing improvements, making it a strategic and valuable long-term investment for the Cardano ecosystem.

[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