CardanoXChange: Next-Gen Cardano Exchange Platform

[GENERAL] Name and surname of main applicant

Tran Huy Hiep

[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

100000

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

10

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

Yes

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

Create a dedicated Cardano exchange, simplifying transactions for all users. Our solution enhances accessibility and usability, bridging the gap for a secure and user-friendly trading experience.

[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

Yes, our project is committed to being fully open-source. We believe in fostering transparency, collaboration, and community engagement. The project outputs, including code, documentation, and any related materials, will be released under the [insert type of license, e.g., MIT License, GNU General Public License (GPL), Apache License, etc.]. This license has been chosen to encourage collaboration, allow for modifications, and ensure the free use of the project's resources by the Cardano community and beyond.

All elements of our codebase, including [specify any exceptions or proprietary components], will be open source. We are dedicated to creating a platform that is accessible, adaptable, and inclusive. The community's involvement and contributions to our open-source project are highly encouraged, as we believe this will lead to a more robust and innovative Cardano ecosystem.

[METADATA] SDG rating

Our Cardano exchange project is aligned with key Sustainable Development Goals:

1. SDG 9: Industry, Innovation, and Infrastructure: Our project contributes to the advancement of financial technology and blockchain innovation. By providing a user-friendly and secure Cardano exchange, we aim to enhance financial infrastructure in a way that aligns with SDG 9.
2. SDG 8: Decent Work and Economic Growth: The project's development and ongoing operation create employment opportunities in the technology sector. We support economic growth by fostering innovation and creating a platform that encourages participation in the evolving crypto economy.
3. SDG 10: Reduced Inequality: By simplifying access to Cardano and cryptocurrency trading, our project aims to reduce barriers and promote financial inclusion, contributing to SDG 10's goal of reducing inequality.

We believe that by aligning our project with these SDGs, we not only contribute to the global agenda for sustainable development but also create a positive impact on the socio-economic landscape within the blockchain and cryptocurrency ecosystem.

[SOLUTION] Please describe your proposed solution.

Perception of the Problem:

• The problem we're tackling is that Cardano users don't have a dedicated and easy-to-use platform for trading ADA. Current options are either not user-friendly or lack the specific features Cardano users need.

Approach Rationale:

• Our approach involves developing a purpose-built Cardano exchange. We chose this path to directly address the unique needs of the Cardano ecosystem. We prioritize user-friendliness without compromising on security, intending to create an environment where both experienced investors and newcomers feel confident in trading ADA.

Engagement:

• Our project aims to engage Cardano users, crypto enthusiasts, and those interested in blockchain-based financial systems. Through community outreach, educational initiatives, and an intuitive user interface, we seek to create an inclusive platform that encourages active participation.

Impact Demonstration:

• The impact of our solution will be demonstrated through key metrics such as increased user adoption, growing trading volumes, and positive user feedback. We'll conduct regular assessments of the platform's security features, demonstrating our commitment to maintaining a secure trading environment.

Uniqueness and Importance:

• What sets our solution apart is its exclusive focus on Cardano. By tailoring the user experience to the specific needs of the Cardano community, we aim to create a seamless and secure trading platform. This is crucial for the Cardano ecosystem as it not only provides a dedicated space for ADA trading but also contributes to the broader adoption of Cardano, strengthening its position in the blockchain landscape. Our commitment to user-centric design and security aligns with Cardano's principles of decentralization and transparency, making our solution important for the sustainable growth of the Cardano ecosystem.

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

Positive Impact:

Our project envisions a positive transformation within the Cardano community through:

1. Enhanced Accessibility: The creation of a user-friendly Cardano exchange will simplify ADA trading, making it accessible to both experienced users and newcomers.
2. Elevated Security Standards: By prioritizing robust security measures, we aim to enhance the overall safety of Cardano transactions, instilling confidence in users.
3. Stimulated Adoption: A tailored platform addressing the unique needs of the Cardano community is poised to stimulate increased adoption, contributing to Cardano's growth.

Measurement of Impact:

To measure impact, we'll employ a multi-faceted approach:

1. User Metrics: Quantitative analysis of user adoption rates, trading volumes, and user demographics will provide insights into the platform's popularity and accessibility.
2. Security Audits: Regular security assessments, including successful threat prevention, will serve as quantitative measures of the platform's effectiveness in safeguarding user assets.
3. Community Feedback: Qualitative data from community surveys, forums, and direct communication channels will help gauge user satisfaction, uncover areas for improvement, and guide future development.

Sharing Outputs:

Our commitment to transparency and community engagement will be demonstrated through:

1. Periodic Reports: Regularly published reports detailing user metrics, security updates, and overall project progress will be shared with the Cardano community.
2. Interactive Forums: Active participation in Cardano community forums, where we'll seek feedback, address concerns, and keep the community informed about upcoming developments.
3. Educational Resources: Creating and sharing educational content to empower users with a deeper understanding of the platform, its features, and best practices for secure trading.
4. Open Source Collaboration: Our project being fully open source will encourage collaboration. The community will have the opportunity to contribute to the development process, ensuring a collective approach to improvement.

[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?

Expertise and Experience: Our team includes a highly experienced instructor who specializes in the Blockchain field. They have a proven track record of successfully securing funding in multiple rounds, including fund phases 6, 7, 8 and 10. Additionally, we have three talented students who possess practical expertise in working with and developing the Cardano blockchain. Their programming skills encompass a wide range of languages, such as Haskell, Plutus, Python, PHP, Java, and more. These students have actively contributed to research projects centered around building applications on the Cardano blockchain platform.

Some of the reports for our research and learning activities

1. Article 1: https://forum.cardano.org/t/cardano-student-showcases-at-student-scientific-and-research-conference-at-the-university-of-transport-and-communications-in-hanoi-vietnam/118981
2. Article 2: https://forum.cardano.org/t/khoa-h-c-mi-n-phi-web3-bootcamp-cho-c-ng-d-ng-vi-t-nam/116551/4
3. Article 3: https://forum.cardano.org/t/bao-cao-d-nh-h-ng-tri-n-khai-d-tai-nckh-tren-project-catalyst/113118/4

Ensuring Accountability:

• Tracking Progress: We will closely monitor and evaluate the project's progress using clear metrics and indicators. This allows us to hold ourselves accountable for achieving the desired outcomes.
• Transparent Communication: We prioritize open and honest communication with all stakeholders. We will provide regular updates, share project plans, and report on outcomes, ensuring that everyone is well-informed and actively involved.

By upholding these principles of accountability and transparency, we build trust and confidence in our project's implementation. Throughout the project lifecycle, we are committed to being reliable, transparent, and accountable to all stakeholders involved.

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

Milestone 1: Project Planning and Communication Setup (1 Month)

Milestone Description:

Given the pre-existing project team, Milestone 1 will pivot towards strategic planning and establishing effective communication channels. The goal is to develop a detailed project plan that aligns with project objectives and ensures seamless collaboration.

Milestone Output(s):

1. Communication Channels Established:

• Output: Efficient communication channels set up for seamless collaboration.
• Deliverable: Documentation detailing communication protocols, including meeting schedules and reporting mechanisms.

2. Project Plan Developed:

• Output: A detailed project plan outlining key milestones, tasks, and timelines.
• Deliverable: A comprehensive document that serves as a roadmap for the entire project.

Acceptance Criteria:

1. Approval of Communication Channels:

• Criteria: Efficient communication channels established.
• Verification: Stakeholder confirmation of the effectiveness of communication channels.

2. Project Plan Approval:

• Criteria: Detailed project plan developed and aligned with project objectives.
• Verification: Stakeholder approval of the project plan, ensuring it meets the project's goals and timelines.

Milestone 2: Platform Design and Architecture (1 Month)

Milestone Description:

Building upon the strategic plan, this milestone is dedicated to creating a robust design for the Cardano exchange platform, ensuring a visually appealing and well-structured user experience. It involves the development of detailed user interface (UI) mock-ups, comprehensive documentation for the system architecture, and the definition of a technology stack that aligns with Cardano's principles.

Milestone Output(s):

1. User Interface (UI) Mock-ups:

• Output: Visual representations of the platform's UI, reflecting an intuitive and engaging design.
• Deliverable: A collection of UI mock-ups providing stakeholders with a tangible preview of the user experience.

2. System Architecture Documentation:

• Output: Comprehensive documentation outlining the system architecture.
• Deliverable: A detailed document delineating the structure, components, and interactions within the platform.

3. Technology Stack Definition:

• Output: Clearly defined technology stack, emphasizing security, scalability, and compatibility.
• Deliverable: Documentation specifying the chosen frameworks, programming languages, and security protocols.

Acceptance Criteria:

1. UI Mock-up Approval:

• Criteria: Stakeholder approval of UI mock-ups, ensuring an intuitive and visually appealing design.
• Verification: Confirmation that UI mock-ups align with the Cardano community's expectations.

2. System Architecture Documentation Confirmation:

• Criteria: Comprehensive documentation alignment with project goals.
• Verification: Stakeholder acknowledgment and approval of system architecture documentation.

3. Technology Stack Alignment:

• Criteria: The chosen technology stack aligns with project requirements.
• Verification: Stakeholder confirmation that the technology stack is suitable for the Cardano exchange platform.

Milestone 3: Smart Contract Development (2 Months)

Milestone Description:

Building on the platform design, Milestone 3 is dedicated to initiating the development of smart contracts essential for the Cardano exchange platform's functionality. This phase includes the implementation and thorough testing of the core smart contract logic, ensuring secure and efficient ADA trading.

Milestone Output(s):

1. Implemented Smart Contracts:

• Output: Functional smart contracts implementing core trading logic.
• Deliverable: Codebase containing the developed smart contracts.

2. Core Smart Contract Logic Tested:

• Output: Thoroughly tested core logic for secure and efficient ADA trading.
• Deliverable: Testing documentation outlining the functionality and performance of smart contracts.

Acceptance Criteria:

1. Successful Implementation of Smart Contracts:

• Criteria: The developed smart contracts are functional and align with project requirements.
• Verification: Stakeholder approval of the implemented smart contracts.

2. Completion of Core Logic Testing:

• Criteria: Thorough testing of core smart contract logic.
• Verification: Testing documentation confirms the secure and efficient functionality of the smart contracts.

Milestone 4: User Interface Development (2 Months)

Milestone Description:

Building on the smart contract foundation, Milestone 4 is dedicated to the front-end development of the Cardano exchange platform. The focus is on creating an intuitive, user-friendly interface that enhances the overall trading experience. This phase includes implementing responsive design elements and ensuring compatibility across various devices.

Milestone Output(s):

1. Front-end Development Progress:

• Output: Advancements in the implementation of the user interface.
• Deliverable: Documented progress showcasing the evolving front-end elements.

2. Responsive Design Implementation:

• Output: User interface designed to adapt seamlessly to different devices and screen sizes.
• Deliverable: Documentation confirming the implementation of responsive design elements.

Acceptance Criteria:

1. Confirmation of Front-end Development Progress:

• Criteria: Demonstrable progress in the implementation of the user interface.
• Verification: Stakeholder acknowledgment of the evolving front-end elements.

2. Successful Implementation of Responsive Design:

• Criteria: The user interface adapts seamlessly to various devices and screen sizes.
• Verification: Documentation confirming the successful implementation of responsive design elements.

Milestone 5: Platform Integration and Testing (2 Months)

Milestone Description:

Building on the front-end development, Milestone 5 focuses on integrating the developed smart contracts with the user interface to create a seamless end-to-end trading experience. This phase involves thorough testing to identify and address any integration issues, ensuring the platform's functionality and security.

Milestone Output(s):

1. Integrated Platform:

• Output: Smart contracts seamlessly integrated with the user interface.
• Deliverable: Documented progress showcasing the integrated platform.

2. Testing Documentation:

• Output: Comprehensive documentation outlining the testing process and results.
• Deliverable: Documented testing procedures and identified issues.

Acceptance Criteria:

1. Approval of the Integrated Platform:

• Criteria: Smart contracts integrated seamlessly with the user interface.
• Verification: Stakeholder approval of the integrated platform's functionality.

2. Completion of Testing Documentation:

• Criteria: Thorough testing documentation highlighting testing procedures and identified issues.
• Verification: Stakeholder acknowledgment of the testing process and issue resolution.

Milestone 6: Security Audits, Beta Testing, and Launch (2 Months)

Milestone Description:

In the final phase, Milestone 6 focuses on ensuring the security and stability of the Cardano exchange platform. This involves comprehensive security audits on both the smart contracts and the integrated platform. Additionally, the milestone includes launching a beta version for community testing, gathering feedback, and making necessary optimizations before the official platform launch.

Milestone Output(s):

1. Security Audit Reports:

• Output: Comprehensive reports from security audits on smart contracts and the integrated platform.
• Deliverable: Documentation outlining security audit findings and resolutions.

2. Beta Testing Feedback:

• Output: Feedback and insights gathered from the community during the beta testing phase.
• Deliverable: Documented feedback and identified areas for improvement.

3. Optimized Platform Ready for Launch:

• Output: The Cardano exchange platform is optimized based on beta testing feedback.
• Deliverable: Documentation confirming the readiness of the platform for the official launch.

Acceptance Criteria:

1. Successful Security Audits:

• Criteria: Comprehensive security audits completed with identified issues addressed.
• Verification: Stakeholder acknowledgment of the security audit findings and resolutions.

2. Positive Beta Testing Feedback:

• Criteria: Community feedback from the beta testing phase was gathered and analyzed.
• Verification: Documented feedback and resolutions to identified issues.

3. Confirmation of Platform Readiness:

• Criteria: The Cardano exchange platform is optimized based on beta testing feedback.
• Verification: Stakeholder confirmation of the platform's readiness for official launch.

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

Mr. Tran Huy Hiep - Project Manager/Blockchain Developer

Experiences: 

• Developer at Samsung R&D
• Frontend: HTML, CSS, Javascript, Ajax, ReactJS, Angular.
• Backend: Java Spring Boot.
• Blockchain & Sustainability Researcher.

Contact:

Email: tranhuyhiep0710@gmail.com

Github: https://github.com/TranHuyHiep

Mr. Bach Trinh - Full-stack Developer/Blockchain Developer

Experiences: 

• Developer at GrapeCity
• Frontend: Reachjs.
• Backend: .NET Core.
• Blockchain & Sustainability Researcher.

Contact: txbach.11@gmail.com

Email: txbach@gmail.com

Github: https://github.com/Bachhsunkid

Mr. Minh Le - Quality Assurance, content creator

Experiences:

• Lecturer and PT-Leader at Teky Steam Academy
• Testing: Jmeter
• Blockchain & Sustainability Researcher.

Contact:

Email: minhld.dev@gmail.com

Github: https://github.com/dinhminhlh

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

Milestone 1: Project Setup and Planning - 4 Weeks

• Develop the project deployment plan.
• Research and gather relevant information.
• Create presentation slides and documentation for work sessions.
• Review and refine content for clarity and effectiveness.

ADA Allocation: 15,000 ADA

(Percentage of Total Project Cost: ~15%)

Milestone 2: Platform Design and Architecture - 8 Weeks

• Develop simulated interface designs.
• Document system architecture.
• Build fundamental components of the platform.
• Test integration and ensure compatibility.

ADA Allocation: 20,000 ADA

(Percentage of Total Project Cost: ~20%)

Milestone 3: Smart Contract Development - 8 Weeks

• Code the smart contract functionalities.
• Integrate smart contracts with the platform.
• Conduct thorough testing of smart contract functionalities.
• Ensure secure and efficient execution.

ADA Allocation: 15,000 ADA

(Percentage of Total Project Cost: ~15%)

Milestone 4: User Interface Development - 8 Weeks

• Implement front-end development.
• Ensure responsive design implementation.
• Integrate user interface with the platform.
• Conduct user experience testing.

ADA Allocation: 20,000 ADA

(Percentage of Total Project Cost: ~20%)

Milestone 5: Platform Integration and Testing - 8 Weeks

• Integrate smart contracts with the user interface.
• Conduct comprehensive testing of the integrated platform.
• Address any issues or bugs identified during testing.
• Ensure seamless functionality and user experience.

ADA Allocation: 15,000 ADA

(Percentage of Total Project Cost: ~15%)

Milestone 6: Security Audits, Beta Testing, and Launch - 10 Weeks

• Engage external security audit services.
• Conduct beta testing with a selected user group.
• Gather feedback and make necessary optimizations.
• Prepare for the official launch of the Cardano Exchange Platform.

ADA Allocation: 25,000 ADA

(Percentage of Total Project Cost: ~25%)

Total ADA Allocation for the Project: 100,000 ADA

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

The following factors substantiate the project's value for money:

1. Scope and Complexity: The project involves the development of a comprehensive Cardano Exchange Platform, encompassing smart contract development, user interface design, security audits, and more
2. Industry Standards: The costs are in line with industry standards for blockchain and cryptocurrency development
3. Ecosystem Impact: The project aims to contribute significantly to the Cardano ecosystem by providing a secure and efficient exchange platform
4. Market Research: The costs have been determined through thorough market research, taking into account the average wage for skilled professionals in the relevant fields, prevailing freelance rates, and the level of expertise required for each aspect of the project
5. Transparency: The ADA allocation for each milestone provides transparency and accountability, allowing the community to understand how the funds will be utilized at each stage of the project

In summary, the project's value for money is rooted in its potential to enhance the Cardano ecosystem, the comprehensive nature of its development, adherence to industry standards, meticulous market research, and the transparent breakdown of costs for each milestone.

[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