Staking Basket Multi-Delegation Contract Open-Source

[GENERAL] Name and surname of main applicant

Peyton Winget

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

Entity (Incorporated)

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

4

[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)

We have built Staking Baskets, a smart contract that allows users to deposit their ADA and delegate to multiple Stake Pools. Current smart-contracts could use this code to increase decentralization.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[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.”

The Staking Basket contract was developed by Mlabs, and is currently under audit by Anastasia Labs.

[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

Most likely MIT. Will review over the next week, and edit this part.

[SOLUTION] Please describe your proposed solution.

Staking Baskets are a groundbreaking new innovation and schematic for furthering decentralization on the Cardano blockchain. Developed by Mlabs, a renowned specialist in Haskell and Rust, Staking Baskets are a smart contract system that allows users to delegate their ADA to a large number of stake pools in a user-friendly way. User will also be able to create their own Staking Baskets with their own list of stake pools. 

Staking Baskets are a smart contract on the Cardano blockchain that takes the user’s ADA and delegates it across multiple pools in the ecosystem. For depositing the ADA, users will receive basket tokens that can be used to withdraw their initial ADA deposit + their rewards. These basket tokens are liquid and can be sent to other wallets. They can also be swapped on a DEX, given that there’s a liquidity pool. Diffusion, our first Staking Basket has been built and is now in the later stages of testing and integrating without our front end.

We would like to open-source this smart-contract so that future dApps on Cardano can save thousands of dollars on development when seeing that multi-delegation is necessary for all dApps.

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

We've spent a large amount of capital, and time developing this contract. Almost every dApp on Cardano could benefit by integrating multi-delegation into their existing smart-contracts. By open-sourcing this smart-contract we could save developers on Cardano a lot of time, and money.

[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?

alpha.atrium.io is now available to test. Staking Baskets are now on preview network and are operating as expected. Stoa, our Updateable NFT minting smart contract is also in testnet and operating. Atrium has spent significant time and resources on building the foundation for a thriving ecosystem that will sit at the heart of Cardano. As a team, we have consistently delivered on everything we have promised and have a track record of building high quality products, both individually and collectively. Mlabs are one of the most respected development agencies building in the Cardano space. Anastasia labs are an exceptionally talented team of developers and their detailed approach to auditing the contract is world class. We are very close to completing this project.

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

Staking Basket Creation on Preview Network

Staking Basket deposit/withdraw on Cardano’s preview Network

Staking Basket delegation to 50 Stakepools

Staking Basket rewards withdraw, and proof of running for 10 epochs.

Staking Basket Audit

Staking Basket open-source

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

Peyton: Âtrium Lab - Co-founder

Ben: Âtrium Lab - Co-founder and Creative Director

Brian: Âtrium Lab - Lead Developer

Nick: Âtrium Lab - Backend developer

Angelo: Âtrium Lab - Full Stack Developer

Preston: Full stack developer

Cheyenne: Âtrium Lab - Community management

Kyle: Âtrium Lab - Head of security

Ben: MLabs - Smart Contract developer

Sahil: MLabs - Smart Contract developer 

Alexey: MLabs - Smart Contract developer

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

This contract costed us a significant amount more than the amount we’re asking for in this proposal.

500k ADA ~ Smart-contract code

20k ADA ~ Open-source

150k ADA ~ Audit

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

This proposal is has significant value for money for the Cardano ecosystem. The total cost of this contract is significantly higher than what we’re asking for in this open-source proposal. Any dApp on Cardano could view this code to save hundreds of thousands of dollars of development to ensure their dApp delegates to multiple stakepools on Cardano.

[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