Last updated 3 months ago
High barriers of entry result in monopolized NFT trading space. By providing functional open-sourced shared-revenue SC we can get more marketplaces to enter the space and create healthy competition.
This is the total amount allocated to JamOnBread‘s NFT Smart Contract with revenue sharing mechanism for whole Cardano NFT space to use!. 5 out of 5 milestones are completed.
1/5
Designing
Cost: ₳ 23,600
Delivery: Month 1 - Apr 2024
2/5
Development
Cost: ₳ 58,000
Delivery: Month 2 - May 2024
3/5
Audit
Cost: ₳ 50,000
Delivery: Month 3 - Jun 2024
4/5
Code adjustment based on audit and deployment
Cost: ₳ 35,000
Delivery: Month 4 - Jul 2024
5/5
Live solution + Final Report
Cost: ₳ 29,400
Delivery: Month 5 - Aug 2024
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
Developing a smart contract that fairly rewards all parties involved in the selling process thanks to advanced UTxO management. Our solution will reduce the current market entry barriers.
No dependencies.
Fully open-sourced under the MIT/Apache/GPL license
We recognized a significant challenge in the NFT space on the most decentralized blockchain. Despite its decentralized nature, the majority of NFT transactions are concentrated on just one private and profiting platform. In response, we set ourselves on a mission to level the playing field and foster more competition by building a solution that has the potential to empower other and/or specialized marketplaces and contributors in the ecosystem.
Our proposed smart contract incorporates multiple on-chain affiliate levels and dynamically splits transaction fees based on various factors. These factors include the marketplace where the NFT was listed, the marketplace where the sale occurred, and the contributors involved in the NFT sale (link affiliate). Unlike traditional smart contracts, where transaction fees are exclusively received by the contract owner, our approach is different and serves not one business but the whole community.
Check out in greater detail on: https://jamonbread-io.gitbook.io/jamonbread/marketplace/smart-contract/incentive-structure-and-rewards
New businesses can build their products and integrate Cardano blockchain more easily and without the high initial costs and expertise and traffic/liquidity hoarding before such projects can become competitive.
Our ultimate goal is to establish this smart contract solution as the industry standard. By adopting our smart contract, marketplaces can rather focus on new features or become a niche marketplace fostering healthy competition beyond the realm of smart contracts.
We are fully transparent with our business entity based in Prague, Czech Republic and we are building with guidance and cooperation with strong entities in Cardano such as Vacuum Labs (Nufi, Wingriders) and Cardanians. Knowledge and expertise sharing with companies who already launched and run successful projects gives us the necessary perspective to see how and what to build in a specific time-frame.
Feasibility of the project has been done with the help of Auditing team and the solution is already designed and tested.
Designing
Development
Audit
Code adjustment and Internal Audit report
Deployment
Completion report
Full list of team members that both directly and indirectly participate on the project:
Design: 23.000 ADA (~11,7%)
Development: 58.000 ADA (~29,5%)
Audit: 50.000 ADA (~25,5%)
Code adjustment and internal audit report: 23.000 ADA (~11,%)
Deployment: 40.000 ADA (~20,4%)
Completion report: 2.000 ADA
Development efforts including: Aikent script development, deployment, back-end and front-end integration, testing and documentation are estimated to be 520 hours at an average market rate of 65 EUR/hours. Total costs are ~33.600 EUR which makes the largest portion of the requested funds.
Auditing firms rate including: Plutus script security audit, code review, script structure design consulting all amount at total of ~27.200 EUR
Overhead, Project management and Marketing: ~7.800 EUR
Funding required is 68.600 EUR, with current rates (~0.35 ADA/EUR) we round up the number to 196.000 ADA
Since we are proposing this Smart Contract to be an Industry standard model for Cardano NFTs trading, we decided to employ Senior developers and professional partners for Internal Audit, Code design and Review. Despite a professional team, rates still represent industry average for their respective seniority level. Smart Contract can easily become a single point of failure and high risks of funds locked or lost is present if code is not built with a high precision.