A comprehensive tool for streamlining insights for simplifying taxation reporting for Cardano transactions and assets.

[GENERAL] Name and surname of main applicant

Gagan Bharadwaj

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

Entity (Not 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)

Users can input their Cardano wallet address and time period, our tool extracts transaction details for PnL statements. Generated report will consider cardano-to-dollar rates point in time.

[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.”

-

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

No

[GENERAL] Please provide here more information on the open source status of your project outputs

At present, we do not have concrete plans to release this project as an open-source initiative until it reaches a more advanced stage of development.

[SOLUTION] Please describe your proposed solution.

In the dynamic world of cryptocurrency trading, users often struggle with tracking and reporting their transactions accurately for tax purposes. The proposed project, aims to address this challenge by providing a user-friendly web platform that allows individuals to input their wallet address and specify a date range. The platform will then extract all relevant transaction details within that timeframe, generating a comprehensive report. Specifically addresses Cardano's UTxO transactions being different from other platofrms that provide similar services for account based cryptocurrencies.

Features and Functionality:

• User-Friendly Interface:
• A simple and intuitive interface allowing users to input their wallet address and specify the desired date range for transaction analysis.
• Automated Transaction Extraction:
• Integration with blockchain explorers to automatically extract transaction details associated with the provided wallet address.
• Real-Time Cardano Price Integration:
• Incorporation of real-time Cardano price data to provide the USD equivalent value of transactions at the time they occurred.
• Profit/Loss Calculation:
• Dynamic calculation of profit or loss for each transaction by considering the difference between the purchase and sale prices, with the latter converted to live USD prices.
• Comprehensive Report:
• Generation of a detailed report summarizing all transactions within the specified date range, including purchase and sale details, Cardano prices, and corresponding profits or losses to facilitate tax reporting.

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

The success of platform will bring significant value to the Cardano community in several ways:

• Facilitating Tax Compliance:
• Users will experience a streamlined process for tracking and reporting their cryptocurrency transactions, contributing to increased tax compliance within the Cardano community.
• Enhanced Trading Insights:
• Traders will gain a clearer understanding of their profit and loss dynamics over specific time periods, enabling more informed decision-making and strategy refinement.
• Increased Adoption:
• A user-friendly platform catering to tax reporting needs will attract more participants to the Cardano ecosystem, fostering increased adoption and community growth.

Measurement of Impact:

• User Adoption and Engagement Metrics:
• Track the number of users onboarded, frequency of usage, and user satisfaction through surveys and feedback mechanisms.
• Trading Strategy Refinement:
• Monitor user feedback and engagement metrics to understand how traders leverage the insights provided by platform for refining their trading strategies.

By employing a combination of quantitative metrics and qualitative feedback, the platform aims to measure its impact on the Cardano community accurately. Regular communication and collaboration with the community will ensure that the project remains responsive to user needs and continues to deliver value to Cardano users and enthusiasts.

[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?

Development Expertise:

With over 4+ years of hands-on experience in data engineering and full-stack development, I bring a wealth of expertise to the table. My experience showcases proficiency in delivering robust and user-centric solutions across diverse projects. I excel in crafting intuitive interfaces and seamlessly integrating complex backend functionalities.

I am currently working as a contingency worker and have a number of developers and blockchain enthusiasts in my network

Blockchain Integration:

My expertise extends to understanding Cardano's UTXO transaction systems and integration, utilizing resources from the vibrant Cardano community APIs. With a knowledge of Cardano's unique architecture, I understand navigating the intricacies involved in extracting and processing transaction data. This knowledge positions me as a developer capable of seamlessly integrating Cardano-specific functionalities into projects.

Real-Time Data Integration:

I have hands-on experince in integrating real-time data seamlessly into applications. Leveraging my experience, I will employ reliable APIs to fetch Cardano address-based transactions and point-in-time Cardano prices, ensuring that users have access to up-to-date information throughout their interactions with the platform.

Secure Data Handling:

Security is paramount in my development approach. With a background in secure storage mechanisms and robust authentication processes, I am well-prepared to safeguard user data. Regular security audits will be a standard practice to identify and address potential vulnerabilities.

Proof of Concept (PoC):

As a critical first step before proceeding to full-scale development, my focus is on executing a comprehensive Proof of Concept (PoC). This PoC is designed to validate the feasibility of the project, specifically concentrating on the integration with the Cardano blockchain. During this phase, I will assess my ability to accurately extract transaction data and implement real-time price conversion functionalities. This initial validation will inform the viability and potential challenges of the project.

As I move forward, I am excited about the prospect of bringing together a talented team with specialized expertise in full-stack development, and blockchain integration from my professional network.

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

Requirement Gathering and Architecture Design (3-4 weeks)

• Objective:
• Conduct comprehensive requirements gathering to understand user needs and define the scope of the project. Develop a detailed architecture design outlining the technical specifications and integration plan.
• Tasks:
• Analyze the requirements to determine the key features and functionalities of platform.
• Create a detailed architecture design specifying the technology stack, data flow, and integration points with the Cardano blockchain APIs.
• Deliverables:
• Requirements document outlining user needs and project scope.
• Architecture design detailing the technical specifications and integration plan.

PoC Development and Delivery (4 Weeks)

• Objective:
• Develop a functional Proof of Concept (PoC) based on the gathered requirements and architecture design, focusing on the integration with Cardano's UTXO transaction systems.
• Tasks:
• Implement the architecture design, establishing communication integrating with cardano APIs and data points.
• Develop mechanisms for efficient transaction data extraction and real-time price conversion.
• Deliverables:
• Demo video or screenshots of functional PoC demonstrating successful Cardano API integration and accurate data extraction.
• Documentation outlining the technical approach, challenges addressed, and testing results.

Provision of Interactive Testing Platform and Feedback Gathering (3-4 weeks)

• Objective:
• Deploy the developed PoC in an interactive testing environment accessible to a select group of users. Gather valuable feedback to inform iterative improvements.
• Tasks:
• Set up a secure and user-friendly testing platform for beta users.
• Reachout to beta testers, collect feedback on usability, functionality, and any identified issues.
• Conduct surveys or feedback sessions to gather qualitative insights from beta users.
• Deliverables:
• Beta testing platform with the PoC deployed and accessible to selected users.
• Comprehensive feedback report summarizing user insights, identified areas for improvement, and suggestions for future enhancements.

Comprehensive PoC Development (14 weeks)

• Objective:
• Execute end-to-end Proof of Concept (PoC) development, encompassing requirement gathering, architecture design, planning, PoC development, and interactive testing.
• Tasks:
• Develop a detailed architecture design and plan project milestones.
• Integrate with Cardano chain and APIs, implement data extraction, and point in time price conversion.
• Internal testing of the PoC for functionality and identify potential challenges.
• Deploy the PoC in an interactive testing environment for selected users.
• Set up a secure testing platform, gather user interaction experiences, and collect feedback.
• Deliverables:
• Requirements document.
• Architecture design document.
• Demo of Functional PoC.
• Documentation on the technical approach and testing results.
• Beta testing platform.
• Feedback report.

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

Gagan Bharadwaj (Applicant)

www.linkedin.com/in/r-gagan-bharadwaj-37816716b

I am a software engineer with a demonstrated history of working in the information technology and services industry. Competent in using cloud infrastructure, DevOps for cost-effective, scalable, and high availability deployments. I have extensive experince in Data engineering with hands on experince in integration with high volume data sources and architecting backend infrastucture for the same.

I will put together a team of Talented Developers and Blockchain Enthusiasts from my network and freelancing community in addition as and when required.

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

Milestone 1 - Requirement Gathering and Architecture Design (3-4 weeks) - 22,500 ADA

• Market Research and Requirement Gathering - 7,000 ADA
• Backend Requirement Analysis, RnD and Environments Setup - 5,000 ADA
• Frontend Requirement Analysis, RnD Environments Setup Efforts (1 week) - 2,500 ADA
• Design Feasible Architecture and Project Plan - 8,000 ADA

Milestone 2 - PoC Development and Delivery (4 Weeks) - 31,000 ADA

• Technical stack feasibility validation and Prototype planning - 3,000 ADA
• Transaction data extraction and Data Flow Mechanism Development - 10,000 ADA
• Implementation of planned Architecture - 10,000 ADA
• Internal prototype testing setup and validation - 8,000 ADA

Milestone 3 - Provision of Interactive Testing Platform and Feedback Gathering (3-4 weeks) - 21,000 ADA

• Community outreach and co-ordination - 4,000 ADA
• Testing Platform Setup Efforts - 10,000 ADA
• User Interaction Monitoring and Feedback Collection setup- 5,000 ADA
• Feedback Analysis and Reporting - 2,000 ADA

Additional Documentation, Resourcing and Infrastructure cost: 2,000 ADA

Total budget: 76,500 ADA

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

We believe the platform offers excellent value for money within cardano ecosystem by addressing the specific challenges users face in tracking and reporting transactions for tax purposes, particularly for prominent stakeholders within the Cardano community engaging in high-volume transactions. With a user-friendly interface and automated features tailored to Cardano's UTxO transactions, the platform streamlines the data extraction process, saving users time and effort. The incorporation of real-time Cardano price data and dynamic profit/loss calculations ensures accurate financial insights. By providing a comprehensive report summarizing transactions, the project adds efficiency to tax reporting, trading strategy optimization and financial planning.

[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