Ada to Mobile Money: Unlocking Financial Access in Africa

[GENERAL] Name and surname of main applicant

Dan Baruka

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

Entity (Incorporated)

[GENERAL] Co proposers and Additional applicants

Uptodate Developers

Dan Baruka

Cephas Mbuyi

Josephine Ndeze

Yannick Nsenga

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

5

[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)

Ada Exchange App empowers unbanked Africans, addressing high international transfer fees, promoting mobile money integration, and facilitating ADA cryptocurrency use for financial inclusion in Africa.

[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.”

Yes, the project has a dependency on Mobile Money Operators in Africa. The success of Ada Exchange App relies on seamless integration with these operators to facilitate the conversion of ADA to local currencies and promote financial inclusion. It is essential for the project's delivery as it directly impacts the functionality and accessibility of the platform in the African market. The cooperation and support of Mobile Money Operators are crucial for the smooth operation of Ada Exchange App.

[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, only the Conversion API from the Ecommerce Integration will be open source, enabling the use of ADA as a payment method in the African market. The specific license for this open-source component is yet to be determined, and further details on licensing terms will be provided in the project documentation. The decision to open source this particular element aligns with our commitment to fostering accessibility and innovation in the adoption of ADA within the African market.

[METADATA] SDG rating

SDG goals:

End poverty in all its forms everywhere

Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

SDG subgoals:

Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

Key Performance Indicator (KPI):

Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider

Universal Human Rights Index (UHRI):

#proposertoolsdg

[SOLUTION] Please describe your proposed solution.

The Ada Exchange App, currently undergoing testing in pre-production mode, stands as a pioneering solution aimed at alleviating the prevalent issue of financial exclusion in Africa. The primary concerns addressed include the substantial population without access to traditional banking, exorbitant fees associated with international transfers, the restricted integration of mobile money with cryptocurrencies, and the absence of a dependable platform for converting ADA to local currencies. This proposal delineates a holistic strategy to confront these challenges, providing a user-friendly and seamless platform to empower individuals across Africa.

Perception of the Problem

The problem at hand is multifaceted. In Sub-Saharan Africa, a significant percentage of adults are unbanked(+60%), relying on mobile money services for their financial transactions. However, the lack of seamless integration between mobile money and cryptocurrencies hampers the full utilization of digital assets. Additionally, high fees for international bank transfers, coupled with the absence of accessible platforms for converting ADA to local currencies, further limit financial inclusion and the adoption of cryptocurrencies.

Approach

Ada Exchange App adopts a strategic approach to overcome these challenges. The platform focuses on integrating ADA with mobile money aggregators, creating a bridge between cryptocurrencies and local currencies in Africa. By providing a user-friendly web and mobile interface, the platform aims to facilitate low transaction fees and offer time-saving benefits. The incorporation of a P2P section enables individuals not only to convert ADA but also to earn extra income by taking a commission for facilitating exchanges.

The uniqueness of this platform, which is already in preprod mode, lies in its emphasis on the African market. Ada Exchange App recognizes the prevalence of mobile money services usage in Africa and leverages this existing infrastructure to promote cryptocurrency adoption. The platform seeks to provide a gateway for mobile money services users to enter the cryptocurrency market, unlocking the potential for price appreciation and long-term growth opportunities.

Key Solutions Provided by Ada Exchange App

Exchange ADA to USD via Mobile Money:

• Seamless integration with Mobile Money aggregators, allowing users to convert ADA to USD and vice versa.
• Low transaction fees prioritize affordability and efficiency.
• Reduction of transaction delays through leveraging Blockchain security for efficient transactions.

DeFi (P2P) Using Stablecoin (USDT):

• Mitigation of potential risks associated with price volatility.

Why Use Mobile Money in Africa:

• Growing use of Mobile Money in sub-Saharan Africa, with about 50% of adults actively utilizing these services.
• More than 150 million people in Africa conduct transactions regularly, totaling over $25 billion per month.
• Mobile Money offers accessibility without the need for a traditional bank account, facilitating financial inclusion.

By implementing these solutions, Ada Exchange App aims to create a platform that is user-friendly, cost-effective, and efficient, addressing critical challenges in the African cryptocurrency landscape.

What's a Mobile Money?

Mobile Money refers to a digital payment system that enables users to perform financial transactions using a mobile device. It has gained significant traction in regions with limited access to traditional banking services, providing a convenient and accessible alternative. Users can conduct various financial activities, including money transfers, bill payments, and purchases, using their mobile phones.

Mobile Money operates through partnerships with telecommunication companies or financial institutions, allowing users to link their mobile numbers to their accounts. Funds can be stored in a digital wallet associated with the mobile phone, and transactions are often facilitated through SMS messages, mobile apps, or USSD codes. This technology has played a crucial role in promoting financial inclusion, especially in areas where traditional banking infrastructure is limited, by providing a means for individuals to participate in the formal economy without the need for a traditional bank account.

How Ada Exchange App works

Exchange Space:

1. Connect Your Wallet:

• Initiate the process by connecting your Cardano wallet through the Cardano wallet extension. This establishes the link between your digital assets and the Ada Exchange App.

1. Enter ADA Amount:

• Specify the amount of ADA you want to send or exchange via Mobile Money. The app dynamically calculates the equivalent value in USD based on the current ADA exchange rate.

1. Enter Receiver's Phone Number:

• Provide the phone number of the recipient who will receive the ADA or the equivalent in USD through Mobile Money.

1. Overview and Confirmation:

• Review the transaction details for accuracy and completeness. Once satisfied, proceed to confirm the transaction. This step acts as a final overview before the actual transaction process begins.

1. Sign Transaction from Your Cardano Wallet:

• Authorize the transaction by signing it from your Cardano wallet. This cryptographic signature ensures the security and legitimacy of the transaction.

1. Transaction Progress in Profile:

• Track the progress of your transaction through the profile section of the app. Real-time updates on the transaction status provide transparency and visibility into each step of the process.

The Ada Exchange App streamlines the conversion and transfer of ADA into USD via Mobile Money, offering a user-friendly interface and a secure, step-by-step process for efficient financial transactions.

Buying ADA Steps:

1. Connect Cardano Wallet Extension:

• Begin the process by connecting your Cardano wallet using the Cardano Wallet Extension. This establishes a secure link between your wallet and the Ada Exchange App.

1. Enter Amount in USD:

• Specify the amount in USD that you want to use for purchasing ADA. The app will dynamically calculate and display the equivalent amount of ADA based on the current exchange rate.

1. Payment Options:

• Choose your preferred payment method from the available options, which may include Paypal or Mobile Money. This flexibility allows users to make purchases using their preferred and convenient payment gateway.

By following these steps, users can seamlessly connect their wallets, determine the ADA amount they wish to acquire, and complete the transaction using their preferred payment method, ensuring a straightforward and user-friendly experience on the Ada Exchange App.

Target Audience

• Africans with ADA: This segment includes individuals in Africa who have received ADA and seek a seamless platform to convert it for practical usage. Ada Exchange App provides a user-friendly solution for maximizing the utility of ADA within the African context.

• Diaspora Users: Users residing in other continents who intend to send money to Africa form a significant audience. Ada Exchange App facilitates this process through direct exchanges or by leveraging USD transactions within specific regions, ensuring a reliable and cost-effective means of fund transfer.

• Income Seekers: Individuals interested in earning extra income can participate in the platform's investors section. By facilitating exchanges and taking a commission for their services, users have the opportunity to generate additional income through the Ada Exchange App.

• Crypto Investors: Those seeking to invest in cryptocurrencies, specifically ADA, form a crucial target audience. Ada Exchange App serves as a gateway for purchasing ADA, enabling users to capitalize on potential price appreciation and long-term growth opportunities within the crypto market.

• International Money Transfers to Africa: Ada Exchange App caters to a broader audience that includes anyone looking to transfer money to Africa using ADA. Whether for personal transactions or supporting family and friends, the platform offers a secure and efficient channel for international money transfers.

The diverse target audience reflects the inclusive nature of Ada Exchange App, catering to the needs of both individual users within Africa and a global user base interested in seamless cryptocurrency transactions and international fund transfers.

Demonstrating Impact

The impact of Ada Exchange App will be demonstrated through several key metrics:

• User Adoption Rates: Tracking the number of users adopting the platform will showcase its effectiveness in reaching the unbanked population and crypto enthusiasts.

• Transaction Volumes: Monitoring the volume of transactions on the platform will provide insights into the financial activities facilitated by Ada Exchange App.

• Community Growth: The establishment of an active and engaged community around the platform will demonstrate its acceptance and positive impact on users.

• Feedback and Reviews: Regular collection of user feedback and reviews will serve as indicators of user satisfaction and help in making continuous improvements.

Importance to Cardano

Ada Exchange App aligns with Cardano's vision of fostering financial inclusion through blockchain technology. By integrating ADA with mobile money in Africa, the platform not only expands the use case for Cardano but also contributes to the broader goal of making financial services accessible to all. The emphasis on the African market reflects Cardano's commitment to creating meaningful and sustainable solutions that address real-world challenges.

In summary, Ada Exchange App is a transformative solution poised to bridge the gap between traditional finance and the crypto space in Africa. It leverages the ubiquity of mobile money, offers a user-friendly interface, and aims to empower the unbanked population while providing a valuable platform for cryptocurrency enthusiasts. The success of this initiative will not only contribute to the growth of Cardano but also foster financial empowerment and inclusion in the African continent.

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

Positive Impact on the Cardano Community

Increased Adoption: Ada Exchange App contributes to the wider adoption of ADA by providing a practical and accessible platform for users in Africa and beyon

Diverse User Engagement: The project's success will bring value by engaging diverse user segments, including Africans, the diaspora, income seekers, and crypto investor

Economic Inclusion: By addressing the financial inclusion challenges in Africa, Ada Exchange App aligns with Cardano's mission of creating a more inclusive financial syste

Measuring Impact: The impact will be measured through quantitative and qualitative metrics, including:

• User Growth: Tracking the increase in the number of users within the Ada Exchange App.
• Transaction Volume: Monitoring the volume and frequency of ADA transactions on the platform.
• User Feedback: Gathering qualitative insights through user feedback on the platform's usability and effectiveness.

Sharing Outputs:

• Regular Updates: Providing regular updates through community channels, forums, and social media to keep the Cardano community informed about the project's progress.
• Reports and Analytics: Sharing comprehensive reports and analytics on user engagement, transaction data, and community feedback.
• Collaboration Opportunities: Exploring collaborations with other projects and entities within the Cardano ecosystem, creating synergies and expanding the network.

The success of Ada Exchange App will not only bring tangible benefits to users but will also contribute to the growth and vibrancy of the Cardano community. Through transparent communication and collaboration, the project aims to actively involve the Cardano community in its journey and share valuable insights and opportunities that emerge.

[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?

Capability to Deliver and Validate Approach Feasibility:

Our company, Uptodate Developers, is well-equipped and experienced to deliver the Ada Exchange App project with a high level of trust and accountability. Here are the key aspects of our capabilities:

• Development Expertise:
• We specialize in web, mobile, and desktop application development. With over 18 dedicated developers in our team and an active community of over 100 developers on our Telegram channel, we have a robust talent pool.

• Blockchain Focus:
• Over the past three years, we have been actively engaged in the Cardano Blockchain community. Our experience extends to various projects related to blockchain, decentralization, and web3 technology.

• Cardano Proficiency:
• Our team has acquired in-depth knowledge and skills specific to Cardano. This includes the ability to design and develop applications leveraging Cardano's blockchain technology.

• Passion for Innovation:
• We are passionate about technological innovation, particularly within the blockchain space. Our commitment lies in contributing to the adoption of Cardano in French-speaking Africa by applying our expertise and relevant experience.

• Community Involvement:
• Our team members have actively contributed to the Cardano community for over three years. This includes hosting the Cardano summit in 2021,2022,2023, organizing meetings and conferences, contributing to open-source projects, developing smart contracts, and conducting live code training on web3 development.

• Ambassadorial Roles:
• Some team members have taken on ambassadorial roles, actively sharing content and experiences as Cardano ambassadors. This can be seen in our engagement on platforms like the Cardano Forum.

• Proven Track Record:
• We have successfully delivered various software development projects. You can find a showcase of our main accomplishments in software development on our website: Uptodate Developers Portfolio.

• Financial Management:
• Our commitment to trust and accountability extends to the proper management of funds. We have established processes and controls to ensure the responsible handling of financial resources associated with the Ada Exchange App project. Additionally, we have successfully worked on several customer projects, demonstrating our adeptness in managing the financial aspects of each undertaking. This experience reinforces our capability to handle project finances responsibly and efficiently

By leveraging our extensive experience, commitment to the Cardano community, and proven track record in software development, we are well-suited to deliver the Ada Exchange App project successfully and responsibly.

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

Ada Exchange App Testnet Improvement (Preprod Network)

Key Activities:

Analysis of Testnet (Preprod Network):

• Conduct a comprehensive analysis of the existing Testnet to identify strengths and weaknesses.
• Evaluate user feedback and reports on functionality and performance.

Identification of Areas for Improvement:

• Collaborate with the development team to pinpoint specific areas that need enhancement.
• Prioritize improvements based on criticality and user impact.

Implementation of Necessary Technical Improvements:

• Introduce necessary code changes and updates to address identified issues.
• Enhance the security features and optimize the performance of the Testnet.

Working on an MVP:

• Ensure that the MVP includes core functionalities for user testing.

Success Criteria:

• The Ada Exchange App Testnet operates smoothly without significant disruptions.
• Major bugs and issues from the previous version are addressed.
• Basic user interactions on the MVP provide a satisfying and error-free experience.

This milestone aims to fortify the foundation of the Ada Exchange App by addressing existing issues and preparing it for further testing and development stages. The success criteria focus on the stability and basic functionality of the Testnet, setting the stage for subsequent milestones.

Launching the Beta Testing (Preprod Network)

Key Activities:

Preparation for Beta Testing:

• Finalize the features and functionalities intended for testing.
• Conduct internal testing to ensure readiness for the Beta phase.

Recruitment of Beta Testers:

• Develop a strategy for recruiting a diverse group of Beta testers.
• Communicate the purpose and expectations of Beta testing to participants.

Distribution of Beta Version:

• Prepare and release the Beta version of the Ada Exchange App Testnet.
• Ensure clear instructions for downloading and installing the Beta version.

Monitoring and Support:

• Establish channels for feedback and bug reporting.
• Provide adequate support to Beta testers during the testing period.

Data Collection and Analysis:

• Gather user feedback, bug reports, and performance data.
• Analyze collected data to identify areas for improvement.

Success Criteria:

• The Beta version is successfully distributed to the targeted group of testers.
• Beta testers actively engage with the application and provide valuable feedback.
• Identified bugs and issues are reported and documented effectively.
• The Beta Testing phase contributes to the refinement of the Ada Exchange App.

This milestone signifies a crucial step towards real-world testing and feedback gathering. The success criteria focus on the effective execution of Beta testing, ensuring a collaborative effort between developers and testers to enhance the overall quality of the Ada Exchange App.

Feedback-Driven Improvements (Preprod Network) and The Mainnet Configuration

Key Activities:

Analysis of Beta Testing Feedback:

• Thoroughly review feedback from Beta testers, including bug reports and usability suggestions.
• Categorize feedback based on criticality and impact.

Iterative Development:

• Implement necessary improvements and fixes based on the received feedback.
• Prioritize enhancements that contribute to user experience and application stability.

Performance Optimization:

• Identify and address any performance bottlenecks or inefficiencies.
• Optimize the application for scalability and responsiveness.

Security Audits:

• Conduct security audits to identify and rectify potential vulnerabilities.
• Ensure that the application complies with security best practices.

User Interface Refinement:

• Refine the user interface based on usability feedback.
• Aim for an intuitive and user-friendly design that aligns with best practices.

Documentation Update:

• Update user guides and documentation to reflect any changes made.
• Provide clear instructions for users on the new features and improvements.

Mainnet Configuration:

• Prepare the Ada Exchange App for the transition to the Mainnet.
• Configure the application for live usage, ensuring all necessary protocols are in place.

Success Criteria:

• Feedback from Beta testing is comprehensively addressed, leading to an improved application.
• Performance optimizations result in a stable and responsive user experience.
• Security audits confirm the robustness of the application against potential threats.
• User interface refinements enhance the overall usability and aesthetics.
• Documentation is up-to-date and accessible, providing clear guidance to users.
• Successful configuration and deployment of the Ada Exchange App on the Mainnet.

This milestone represents the culmination of feedback-driven improvements, ensuring that the Ada Exchange App is refined, secure, and ready for deployment on the Mainnet. The success criteria emphasize the application's enhanced quality and readiness for live usage.

Launching the Beta Mainnet with a Maximum Daily Transaction

Key Activities:

Final Testing:

• Conduct thorough testing on the Beta Mainnet to ensure stability and functionality.
• Simulate various scenarios, including high transaction loads, to assess system performance.

Scalability Assessment:

• Evaluate the application's scalability under real-world conditions.
• Identify any bottlenecks and optimize the system for increased transaction volumes.

Security Validation:

• Perform a final security assessment to confirm the resilience of the application.
• Implement any additional security measures identified during testing.

User Notification:

• Communicate with users and the community about the upcoming transition to the Beta Mainnet.
• Provide clear instructions on how users can access and use the platform on the Mainnet.

Transaction Monitoring:

• Implement monitoring tools to track and analyze transaction activity on the Beta Mainnet.
• Ensure that transaction processing meets the defined maximum daily transaction limit.

Deployment:

• Deploy the Ada Exchange App on the Beta Mainnet.
• Monitor the deployment process to address any unforeseen issues promptly.

User Support:

• Establish a support system for users during the transition to the Beta Mainnet.
• Address user inquiries and issues promptly to ensure a positive user experience.

Success Criteria:

• Thorough testing confirms the stability and functionality of the Ada Exchange App on the Beta Mainnet.
• Scalability assessments demonstrate the application's ability to handle a maximum daily transaction limit.
• Security measures are successfully implemented, ensuring the integrity of user data and transactions.
• Users are effectively notified and provided with clear instructions for using the Beta Mainnet.
• Transaction monitoring tools confirm that the platform operates within the defined maximum daily transaction limit.
• The deployment process is smooth, and the Ada Exchange App is accessible on the Beta Mainnet.
• User support systems are in place and effectively address user inquiries and issues.

This milestone marks the official launch of the Ada Exchange App on the Beta Mainnet, with a focus on scalability, security, and a positive user experience. The success criteria ensure that the platform meets its operational targets and user expectations during this crucial phase.

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

• Uptodate Developers

Uptodate Developers is a company working in the promotion of new information and communication technologies under two aspects: By designing adapted solutions that contribute to the resolution of social problems and by promoting technology to young people. We train developers to understand customers problems, so that our team can suggest IT Software as part of the solution to the problems. We have two type of developers : Permanent and Freelances. When a project need skills that our permanent developers have, we hire freelances.

• Dan Baruka

Project leader

CEO of Uptodate Developers. 

Entrepreneur and Blockchain developer, Dan baruka is a software engineer and technology entrepreneur based in Kinshasa (Democratic Republic of Congo). He is the co-founder of the startup Uptodate Developers, which brings together young people working in new information and communication technologies. Its objective is to contribute to positively change Africa by using new technologies in entrepreneurship to contribute to the resolution of Africa's problems.

Languages : French & English

https://www.linkedin.com/in/dan-baruka-6a3423188

• Kwame Adjei

Blockchain developer

Kwame Adjei is a talented blockchain developer with a passion for leveraging technology to drive social and economic progress. Holding a degree in Computer Science, Kwame has gained expertise in blockchain development and decentralized applications (dApps). He is proficient in programming languages such as Solidity, JavaScript, and Python, enabling him to build secure and efficient smart contracts. Kwame has completed several blockchain-focused training programs and is actively involved in the African blockchain community. With a strong commitment to innovation and a deep understanding of the local ecosystem, Kwame aims to contribute to the adoption of blockchain technology across Africa.

Languages : French & English

• Josephine Ndeze

Team Leader | Chef Operating Officer

COO at Uptodate Developers and Blockchain entrepreneur. Software engineer, Tech entrepreneur in Kinshasa (DR-Congo), Mandela washington fellowship Allumi 2022 | The Next Einstein Forum (NEF) Ambassador (2019-2021) | MissGeekAfrca 2019.

Languages : French & English

https://www.linkedin.com/in/josephine-ndeze-54115b188/?originalSubdomain=cd

• Nicolas Descampe

Project Manager

Blockchain Entrepreneur, Studied Political Sciences, International Relations, and Business Administration. He moved to Eastern Congo in 2003 and started an ICT business, became a telecom specialist, and went on with various missions in the sector. Most recently, he was CEO of Group Vivendi Africa DRC, where he launched the first internet operator truly dedicated to the mass market and therefore the fastest growing in the country. Once the operation was in orbit in both Kinshasa and Goma, he left to focus on developing the startups that will make a difference. He studied Fintech at Harvard and the implications of Artificial Intelligence for business strategy at MIT.

Languages : French | English

https://www.linkedin.com/in/nicolasdescampe/

• Yannick Nsenga

DevOps

Cardano Blockchain and senior blockchain developer : Haskell and Plutus, Software Engineer, Expert in application architecture, web full stack developer, Web 3.0, vue.js, Laravel, Node Js, Vuejs, Core.

Languages : French | English 

https://www.linkedin.com/in/yannick-nsenga-121558ba/

• Priscille Bampata

Regional project Coordinator at UPDEV | Administrative

Coordinator at Uptodate Developers, passionate about new information and communication technology, medicine and management.

Languages : French & English

https://cd.linkedin.com/in/priscille-bampata-1b4a76224

• Vital yengayenga 

Community Manager | RS content strategy

Digital Marketing, Graphic Design, User Experience Design (UX), Copywriting, Copywriting, User Experience Writing, Content Strategy, Blog

Languages : French | English

• Luccin Masirika

Web and Web 3.0 developer

Software Engineer | Web & Blockchain Developer at Uptodate Developers

Development and design of new relevant web technologies. Design of optimized web applications, Data structure, Productivity and professionalism on adequate solutions,

Specialized in JavaScript d, Backend: NodeJs.

Language : French 

https://www.linkedin.com/in/luccin-masirika/?originalSubdomain=cd

• Hassan Tunmise Hahfyeez

Creative | UI/UX Designer

UIUX Designer | Brand Identity Designer at Uptodate Developers | A Product designer passionate about building viable products enabling users to have a good experience.

Language : English

https://www.linkedin.com/in/hassan-tunmise-hahfyeez-39991791/

• Jack Mutobu

Senior web developer at Uptodate Developers.

Haskell and Plutus trainer, Microsoft ambassador. Blockchain content producer.

Languages : French | English

• Ebed Melek

Web Developer

Software Engineer, Mobile and web developer at Uptodate Developers

Language : French 

https://www.linkedin.com/in/ebed-meleck-makoso-0579b513a/

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

Here is a detailed budget breakdown for the Ada Exchange App project.

Total Planned Budget: 107,800 ₳

Note: This budget is estimated in ADA (₳)

Milestone 1: Improvement of the Ada Exchange App Testnet (Preprod Network)

Expected cost: 21,700 ₳

1 Front-end Developer

• Rate: 30 ADA per hour
• Hours: 150 hours
• Cost: 4,500 ADA

1 Web3 and Blockchain Developer

• Rate: 50 ADA per hour
• Hours: 100 hours
• Cost: 5,000 ADA

DevOps

• Fixed Cost: 2,800 ADA

Designer for Social Media Content

• Fixed Cost: 1,700 ADA

Mobile Money Wallet for Testing in Preprod

• Fixed Cost: 5,000 ADA

Community Manager

• Fixed Cost: 1,700 ADA

Total Budget for Milestone 1: 21,700 ₳

--------------------------------------------------------------------------------------------

Milestone2 : Launching the Beta Testing (Preprod Network)

Expected cost: 20,200 ₳

1 Front-end Developer

• Rate: 30 ADA per hour
• Hours: 150 hours
• Cost: 4,500 ADA

1 Back-end Developer

• Rate: 30 ADA per hour
• Hours: 150 hours
• Cost: 4,500 ADA

1 Web3 and Blockchain Developer

• Rate: 50 ADA per hour
• Hours: 100 hours
• Cost: 5,000 ADA

DevOps

• Fixed Cost: 2,800 ADA

Designer for Social Media Content

• Fixed Cost: 1,700 ADA

Community Manager

Fixed Cost: 1,700 ADA

Total Budget for Milestone 2: 20,200 ₳

-------------------------------------------------------------------------------------

Milestone3 : Feedback-Driven Improvements (Preprod Network) and The Mainnet Configuration

1 Front-end Developer

• Rate: 30 ADA per hour
• Hours: 150 hours
• Cost: 4,500 ADA

1 Back-end Developer

• Rate: 30 ADA per hour
• Hours: 150 hours
• Cost: 4,500 ADA

1 Web3 and Blockchain Developer

• Rate: 50 ADA per hour
• Hours: 100 hours
• Cost: 5,000 ADA

DevOps

• Fixed Cost: 2,800 ADA

Designer for Social Media Content

• Fixed Cost: 1,700 ADA

Community Manager

• Fixed Cost: 1,700 ADA

Best Mainnet Ada Exchange App Wallet (Ada and Mobile Money)

• Fixed Cost: 30,000 ADA

Total Budget for Milestone 3: 50,200 ₳

------------------------------------------------------------------------------

Milestone 4: Launching the Beta Mainnet with a Maximum Daily Transaction

1 Front-end Developer

• Rate: 30 ADA per hour
• Hours: 150 hours
• Cost: 4,500 ADA

1 Web3 and Blockchain Developer

• Rate: 50 ADA per hour
• Hours: 100 hours
• Cost: 5,000 ADA

DevOps

• Fixed Cost: 2,800 ADA

Designer for Social Media Content

• Fixed Cost: 1,700 ADA

Community Manager

• Fixed Cost: 1,700 ADA

Total Budget for Milestone 4: 15,700 ₳

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

The costs associated with the Ada Exchange App project are well-justified and represent value for money within the Cardano ecosystem. Here are several considerations supporting this:

Expertise and Experience:

• The team involved in the project consists of over 18 developers with a community of more than 100 active developers on Telegram. Their expertise and experience in Cardano blockchain technology and decentralized applications ensure the project is in capable hands.

Active Involvement in Cardano Community:

• The team has actively participated in the Cardano community for over three years. This involvement includes organizing events, contributing to the development of Cardano projects, and co-hosting the Cardano Summit in 2021. This deep connection and understanding of the Cardano ecosystem enhance the chances of successful project delivery.

Strategic Focus on African Market:

• The project is specifically tailored to address the needs of the African market, where mobile money services play a crucial role. This strategic focus demonstrates a nuanced understanding of the local context and a commitment to fostering financial inclusion in regions with unique challenges.

Budget Allocation Reflecting Milestones:

• The budget breakdown is carefully allocated across milestones, ensuring that costs are proportional to the project's progress. Each milestone has been assigned resources and funds commensurate with the tasks and goals to be achieved.

Market Opportunity and Impact:

• The Ada Exchange App addresses a growing market opportunity in Africa's cryptocurrency space. With significant growth in mobile money usage and a large unbanked population, the project aligns with Cardano's mission of providing financial services to the underserved.

Competitive Rates:

• The hourly rates for developers and fixed costs for various roles are competitive and within industry standards. This ensures that the project remains cost-effective while not compromising on the quality of development and other essential aspects.

Transparent Budget Breakdown:

• The budget breakdown provided is detailed and transparent, allowing stakeholders to understand how funds are allocated for each milestone. This level of transparency is crucial for building trust within the Cardano community.

In summary, the Ada Exchange App project represents value for money by combining technical expertise, community involvement, strategic focus on the African market, and a transparent budget breakdown. These factors collectively contribute to the feasibility, impact, and success of the project within 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