InfinityPools - A UX friendly NFT and FT Staking Platform with a Rewards Management & Distribution System

[GENERAL] Name and surname of main applicant

InfinityPools Team

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

Entity (Not Incorporated)

[GENERAL] Requested funds in ada

266351

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

9

[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)

InfinityPools is a user-friendly NFT+FT staking and rewards management platform empowering Cardano projects to provide utility to their communities, allowing projects to focus on their core strengths.

[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?

No

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

InfinityPools will not be fully open source, however certain aspects of the staking protocol will be open source and available to the general public.

[SOLUTION] Please describe your proposed solution.

View Prototype: https://tinyurl.com/Infinitypools1

InfinityPools is a user-friendly NFT and FT staking platform that sets itself apart by operating entirely on the blockchain, utilizing audited smart contracts for enhanced security and transparency. InfinityPools also offers a flexible rewards management and distribution service, which allows projects to engage and reward their community on a single, unified platform. Through the seamless integration of InfinityPools, projects can unlock new avenues of utility for their communities, resulting in increased engagement and demand, all achieved with minimal effort on the project's part.

InfinityPools empowers projects to unlock the full potential of their NFT and FT offerings by streamlining the staking process. It removes hurdles and financial burdens, allowing the Cardano community to actively engage in staking without barriers. This inclusive solution opens doors for numerous projects, providing utility and new use cases, all while driving greater adoption of the Cardano netwrok.The staking platforms commitment to decentralization, inclusivity, and accessibility fosters community engagement and participation, adding vibrancy to the Cardano ecosystem and strengthening its value proposition.

InfinityPools has also successfully attracted projects for collaboration, leveraging our secure and user-friendly platform that requires minimal effort from the participating projects. As part of our initial release, we are preparing for the launch of two projects: Charli3 NFT and FT staking, and GeroWallet NFT and FT staking. These projects will serve as the foundation of our minimum viable product. Additionally, we have received expressions of interest from undisclosed Cardano projects, and our future plan includes offering NFT and FT staking solutions for them following the launch of our MVP.

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

• Utility and Value Creation: By enabling NFT and FT staking, InfinityPools solution enhances the utility and value proposition of these tokens. Staked tokens provide additional benefits such as token rewards, exclusive access to content, voting rights and even participation in governance. This creates a stronger ecosystem around NFTs and fosters increased demand for these digital assets.

• Liquidity and Engagement: InfinityPools staking solution will enhance liquidity by allowing token holders to lock their assets in staking pools. This reduces selling pressure on the market and encourages long-term holding. It also boosts community engagement by offering an incentive mechanism that rewards participants for their commitment and loyalty.

• Risk Mitigation: Our audited smart contracts reduce the risks associated with token ownership by providing added security and protection. By staking NFTs and FTs in smart contracts, users have greater confidence in the safety of their assets. This reduces the chances of theft, fraud, or loss of valuable NFTs.

• Community Building: NFT and FT staking solutions facilitate community building by bringing together token holders and project supporters. Staking pools become gathering points where like-minded individuals can interact, share ideas, and collaborate. This strengthens the bonds within the community and encourages active participation in the project's development and growth.

• Ecosystem Expansion: By providing NFT and FT staking capabilities, the InfinityPools staking solution attracts new users and projects to the ecosystem. It encourages artists, creators, and developers to leverage the platform to monetize their creations, generate additional income, and engage with their audience. This expansion of the ecosystem drives innovation, diversity, and the overall growth of the NFT and FT market.

[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?

InfinityPools is driven by a team deeply committed to Cardano's success. With a proven track record, Vivek and Mike manage the CANUK stake pool, have launched their own project, Votaire, an onchain voting platform on Cardano. They've also collaborated with numerous platforms, and helped projects establish themselves in the Cardano ecosystem via Canucks Publishing. Shawn, Chris, and Jason are integral members of the GeroWallet team, a light wallet solution available on the Cardano mainnet, while Farid contributes extensively through his YouTube channel and DAPP stake pool. Dylan and Willie, the founders of ViperScience both bring an extreme amount of knowledge as developers with core backgrounds in engineering. They've developed Cardano-Tools, funded by Project Catalyst, which is a Python-based library for interacting with the Cardano blockchain. They also developed LibCardano and Viper25519 which are open source SDKs for developers on the network. Additionally they manage their own Cardano stake pool, ticker: VIPER.

With our combined expertise in Cardano development, product management, and delivery, the InfinityPools team brings knowledge and trustworthiness to the ecosystem, reflecting our commitment to integrity and reliability.

Notable Contributions:

Vivek and Mike have made significant contributions to the Cardano ecosystem, including:

• Development of the Voteaire voting protocol
• Launching several notable NFT projects such as Charli3, Universe25, and Fudbuddies
• Operation of the CANUK stake pool
• Creation of the Dramz auction house
• Development of the BashoCaps Cardano NFT game
• Developed CIP-68 based NFT upgrade portal for Virtually Made Franchise Pass

Shawn, Chris, and Jason have made significant contributions to the Cardano ecosystem, including:

• Development of a non-custodial Cardano wallet web extension
• Creation of a non-custodial Cardano wallet for Android and Apple devices
• Introduction of the Gero Media Player, allowing direct playback of audio NFTs within the wallet
• Pioneering the first mobile Cardano DEX aggregator functionality
• Implementation of ADA wallet staking functionality
• Integration of hardware wallet support for Ledger and Trezor
• Enabling multi-asset sending functionality within the ADA wallet
• Storage and viewing capabilities for Cardano NFTs and CNTs within the wallet
• Operation of the GERO Cardano node stake pool
• Successful sale of two NFT policies
• Integration of fiat on-ramp services

Dylan and Willie have made significant contributions to the Cardano ecosystem including:

• Developed Cardano-Tools (Python)
• Developed LibCardano (C++)
• Developed Viper25519 (C++)
• Operators of two VIPER Cardano node stake pools

Farid has made significant contributions to the Cardano ecosystem, including:

• Over 550 published, high-quality videos
• Over 700k video views and 7.85k subscribers
• Operator of the DAPP stake pool
• Operator of World Mobile Earth Nodes

These contributions demonstrate the team's expertise and dedication to enhancing the Cardano experience for users.

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

Milestone 1: Complete Platform Development and Internal Testing

(Estimated timeline: 3 months) 93,222 ADA (35%)

• Staking Protocol Development: Complete development and thoroughly test the platform for NFT staking, ensuring security, efficiency, and scalability.

• Front-end and Back-end Development: Complete building the front-end interface and the back-end infrastructure of the NFT staking platform, ensuring user-friendly navigation and seamless integration with blockchain protocols.

• Implement User Authentication and Security Measures: Implement robust user authentication systems and security protocols to protect user data and assets.

• Integrate External Services: Integrate necessary external services and analytics tools, to enhance the functionality and user experience of the platform.

• Conduct Internal Testing: Conduct comprehensive testing of the platform's functionalities, security, and performance to identify and resolve any bugs or issues.

Outputs:

• Finalize staking protocol code.
• Staking smart contract code.
• User-friendly front-end interface and back-end infrastructure.
• Secure user authentication and data protection measures.
• Seamless integration with external services.
• Thoroughly tested platform with identified and resolved bugs.

Acceptance Criteria (Staking Protocol):

• The front-end interface is visually appealing, intuitive, and user-friendly.
• The back-end infrastructure supports efficient data processing and interactions with the blockchain.
• Front-end and back-end components seamlessly integrate.
• Navigation is smooth, and users can easily access staking features.

Acceptance Criteria (Front End & Backend Development):

• The front-end interface is visually appealing, intuitive, and user-friendly.
• The back-end infrastructure supports efficient data processing and interactions with the blockchain.
• Front-end and back-end components seamlessly integrate.
• Navigation is smooth, and users can easily access staking features.

Acceptance Criteria (Authentication & Security):

• User authentication is implemented securely, protecting user accounts from unauthorized access.
• Strong encryption methods are applied to safeguard sensitive user data.
• Security measures, such as two-factor authentication, are implemented where applicable.
• Protocols are in place to handle potential security threats and breaches.

Acceptance Criteria (External Services):

• External services required for analytics and additional functionality are successfully integrated.
• Integrations do not compromise the platform's security.
• Analytics tools provide meaningful insights into user behavior and platform performance.
• Users benefit from the integrated services, enhancing their overall experience.

Acceptance Criteria (Internal Testing):

• Comprehensive testing protocols cover all aspects of platform functionality.
• Security testing identifies and resolves any vulnerabilities.
• Performance testing ensures the platform can handle expected loads.
• Bug reports are generated and addressed promptly.
• Test cases and results are documented for future reference.

Milestone 2: Platform Alpha launch and External Alpha Testing

(Estimated timeline: 2 months) 66,587 ADA (25%)

• Launch Initial Staking Pools on Testnet: Create and launch the initial set of staking pools, collaborating with selected NFT projects or creators to incentivize participation.

• Prepare for Mainnet Deployment: Ensure the readiness of the platform for deployment on the Cardano mainnet, including necessary network configurations and security measures.

• User Onboarding and Documentation: Develop user onboarding processes and provide comprehensive documentation and tutorials to guide users through the platform.

• Marketing and Community Engagement: Develop a marketing strategy to raise awareness and attract users to the platform. Engage with the community through social media, forums, and events to foster user engagement and gather feedback.

Outputs:

• Deployed platform accessible to users on the Cardano testnet.
• Complete outline and process for mainnet deployment.
• Complete documentation to simplify user onboarding.
• Complete marketing strategy documentation and promotion plan.

Acceptance Criteria (Testnet Launch):

• Initial staking pools are successfully deployed on the testnet.
• Collaborations with NFT projects or creators are established and incentivize active participation.
• Staking pools operate smoothly, and rewards distribution functions as intended.
• User feedback from the testnet phase is collected and addressed.

Acceptance Criteria (Mainnet Preparation):

• Platform readiness for deployment on the Cardano mainnet is confirmed.
• All necessary network configurations, including platform deployment, are completed successfully.
• Security measures, including audits, are conducted to ensure a secure mainnet launch.
• Contingency plans are in place for any unforeseen issues during deployment.

Acceptance Criteria (Onboarding & Documentation):

• User onboarding processes are designed for simplicity and accessibility.
• Comprehensive documentation and tutorials are created to guide users through the staking process.
• User feedback on onboarding processes is collected and used for improvements.
• Support channels are established for users encountering difficulties during onboarding.

Acceptance Criteria (Marketing & Engagement):

• A well-defined marketing strategy is developed to raise awareness of the platform.
• Social media channels are actively used for marketing and community engagement.
• Forums and community events are utilized to interact with potential users.
• Regular updates are provided to the community, and feedback is actively sought and addressed.

Milestone 3: Mainnet Launch

(Estimated timeline: 2 months) 53,270 ADA (20%)

• Protocol Deployment: Ensure the successful deployment of a staking protocol on the Cardano mainnet. Verify the integrity and security of the platform.

• Regulatory Compliance: Ensure compliance with relevant regulations and legal requirements. Collaborate with legal experts to navigate the regulatory landscape and protect the platform and its users.

• Monitoring and Analytics: Implement tools for monitoring the platform's performance, user activity, and overall health. Use analytics to gather insights that can inform future improvements and updates.

• Launch Event: Plan and execute a launch event or campaign to generate excitement and attract users to participate in the NFT staking platform. Consider special incentives or bonuses for early adopters.

Outputs:

• Deployed platform accessible to users on the Cardano mainnet.
• Consultation with legal experts focused on token distribution.
• Review and documentation of platform health and key metrics.
• Mainnet launch event raising awareness of the platforms launch.

Acceptance Criteria (Platform Deployment):

• Protocol is successfully deployed on the Cardano mainnet.
• Contract functionalities, including staking and rewards distribution, operate as intended.
• Rigorous testing is conducted to verify the integrity and security of the staking platform.
• Security audits are performed by reputable third-party firms to identify and rectify vulnerabilities.

Acceptance Criteria (Regulatory Compliance):

• Legal experts are consulted to ensure the platform's compliance with relevant regulations.
• All necessary licenses and permits are obtained as required by the jurisdictions in which the platform operates.
• Policies and procedures are established to protect user data and adhere to data protection laws.
• Collaborate with legal experts to develop a roadmap for adapting to regulatory changes.

Acceptance Criteria (Monitoring & Analytics):

• Monitoring tools are implemented to track the platform's performance, user activity, and security metrics.
• Regularly review analytics data to identify usage patterns, popular features, and potential issues.
• Implement a process for continuous improvement based on insights from monitoring and analytics.
• Ensure user data privacy is maintained throughout the monitoring and analytics processes.

Acceptance Criteria (Launch Event):

• A well-defined launch event or campaign is planned, considering the target audience and market trends.
• Execute the launch event successfully, generating excitement and interest in the NFT staking platform.
• Consideration of special incentives or bonuses for early adopters is implemented effectively.
• User feedback from the launch event is collected, and adjustments are made for future marketing initiatives.

(Final) Milestone 4: Platform Optimization and Expansion

(Estimated timeline: 2 months) 53,270 ADA (20%)

• Gather User Feedback and Iterate: Continuously gather user feedback to identify areas for improvement and iterate on the platform's features and user experience.

• Scale the Platform: Monitor the platform's performance, scalability, and security as user adoption grows. Implement necessary optimizations and enhancements to accommodate increasing demand.

• Add New Features and Integrations: Continuously enhance the platform by adding new features, integrations with other blockchain protocols, and partnerships with NFT projects and marketplaces.

• Community Support and Education: Provide ongoing support to the community by addressing user inquiries, conducting educational campaigns, and organizing events to educate users about the benefits of NFT staking.

Outputs:

• Enhanced platform features and improved user experience.
• Scalability improvements to handle increased user load.
• Additional features and integrations for expanded functionality.
• Support channels and educational resources for the community.
• Ongoing monitoring and optimization of the platform's performance.

Acceptance Criteria (User Feedback):

• Implement feedback channels within the platform for users to submit suggestions and report issues.
• Regularly review and analyze user feedback to identify patterns and prioritize areas for improvement.
• Iterate on the platform based on user feedback, ensuring clear communication about implemented changes.
• Measure user satisfaction through surveys or metrics related to improved features.

Acceptance Criteria (Platform Scaling):

• Implement tools to monitor the platform's performance, scalability, and security.
• Regularly conduct stress tests to simulate high user loads and identify potential bottlenecks.
• Implement optimizations and enhancements to improve scalability as user adoption grows.
• Set up a scalable infrastructure that can accommodate increased demand without compromising performance.

Acceptance Criteria (New Features):

• Establish a roadmap for continuous development, outlining planned features and integrations.
• Regularly assess the market and industry trends to identify opportunities for new features.
• Collaborate with other blockchain protocols for integrations, expanding the platform's functionality.
• Announce and release new features through effective communication channels to engage the community.

Acceptance Criteria (Community Support):

• Provide responsive community support through various channels, including forums and social media.
• Organize educational campaigns, webinars, or documentation to inform users about the benefits of NFT staking.
• Address user inquiries promptly and transparently, fostering a positive and supportive community environment.
• Measure community engagement and satisfaction metrics to gauge the effectiveness of support and educational efforts.

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

Operations Manager

• Vivek Nankissoor With over 15 years of experience in database requirements, design, and development, Vivek is a seasoned professional in the field. He has successfully established and expanded web analytics, marketing automation, and QA practices, collaborating with enterprise retail, CPG organizations, banks, automotive, pharma, fintech, and other sectors to develop marketing, data, and analytics strategies. As a co-founder of the Cardano Canucks stake pool and the Canadian Cardano Stake Pool Association (CCSPA), Vivek actively contributes to the Cardano community. Additionally, his involvement in Votaire and the Canucks Publishing NFT Minting Platform and Service showcases his commitment to innovation within the ecosystem. Vivek also participates in community initiatives, focusing on financial literacy related to crypto and raising awareness among various investment groups.

Technology Officer and Lead Developer

• Mike Stewart With over 17 years of experience in software development and architecture, including a decade specializing in data and analytics, Mike Stewart is a highly skilled professional. He has led the development team of a boutique data/analytics firm, designing and architecting cloud-based data warehouse solutions for Fortune 500 companies. Since 2017, Mike has been an active member of the Cardano community and has co-founded several impactful projects, including the Cardano Canucks stake pool, Canucks Publishing NFT Minting Platform and Service, and the Canadian Cardano Stake Pool Association (CCSPA). Mike's extensive experience and contributions highlight his dedication to the growth and success of the Cardano ecosystem.

Project Management and User Experience

• Shawn Roller Shawn holds a master's degree in applied psychological research and brings a wealth of professional experience in UX design, having worked on-site for renowned organizations like Google and NASA. His journey into the world of cryptocurrencies began in 2015 when he discovered bitcoin mining. Drawing on his psychology background, expertise in user experience, and a deep passion for blockchain technology, Shawn has made significant contributions to the crypto community. Presently, his primary focus revolves around democratizing decentralized finance, making it accessible to both newcomers and seasoned experts alike.

Security

• Chris Chiras Chris is an experienced cybersecurity engineer with over 8 years of professional expertise in the field. Holding both a master's degree in Information Security and Business Administration, he has been actively engaged in numerous enterprise projects and trading platforms, emphasizing security hardening and countermeasures. With a firm belief in the transformative power of blockchain technology, Chris is leveraging his deep passion for security to contribute to the advancement of the blockchain and DeFi space. His extensive knowledge and dedication make him a valuable asset in ensuring the integrity and protection of digital assets.

Product Design

• Jason Forrest Hogg Jason, whose a Los Angeles-based designer and director, is the creative mind behind the impressive InfinityPools visuals. With a focus on film, VFX, and motion graphics, Jason's work aims to convey core values and cultivate innovative ideas. He brings these ideas to life through a blend of experimental techniques and logical theory, understanding the importance of a strong visual presence rooted in both modernist traditions and contemporary aesthetics. Jason's passion lies in creating a visual voice that resonates with the culture and leaves a lasting impact.

Engineering & Development

• Willie Marchetto Willie is a computer & astronautical engineer experienced in designing, developing, integrating, & deploying electronics and software for satellites, embedded devices, and traditional compute systems. His technical contributions span the areas of high-performance computing, web application development, DevOps system administration, satellite electronics design, embedded systems software/firmware, and machine learning algorithm development. Willie has been an active Cardano developer and stake pool operator since 2019 and is currently the chief engineer for research & development at an aerospace engineering contracting company.

Engineering & Development

• Dylan Crocker Dylan is an Electrical Engineer with experience in antenna and radar system design as well as software development. He earned a PhD in Electrical Engineering, with a minor in Computer Science, from Georgia Tech. His PhD research focused on ultra-wideband antenna design. Dylan got started building in the Cardano ecosystem when running a stake pool during the Incentivized Testnet in 2019. His most recent work includes an open source implementation of Cardano primitives written in modern C++.

Marketing

• Farid Ouedraogo Farid is a passionate blockchain and cryptocurrency enthusiast with a strong background in communication and data management. With a specific focus on the Cardano ecosystem, Farid shares his knowledge and insights through his educational YouTube channel known as Dapp Central. The channel, which serves over 5,000 active subscriptions, serves as a hub for new crypto enthusiasts seeking to dive into the space. Dapp Central covers a wide range of topics including the latest news, reviews, and tutorials surrounding the top projects within the Cardano ecosystem. With over 400 high-quality and informative videos, the channel delves into the latest developments in Cardano's core blockchain development, CIPS, and notable events such as the Cardano Summits, CNFTcon, and RareBloom.

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

Development This includes expenses related to software development, coding, smart contract development, and infrastructure setup.

Design Prior to development, successful user journeys will be created, UX design with foundational research, wireframing, prototyping, and testing. Consulting during development and work towards continual alignment with the dev team and Cardano community to provide a user friendly and successful design for the community to utilize.

Project Management This will cover the time and effort required to manage the project, including task allocation, progress tracking, and team coordination.

Audit and pen testing: Funds reserved for conducting thorough security audits and assessments to ensure the platform is robust and secure.

Research, Testing and Quality Assurance This ensures the product is reliable and performs as expected. It involves thorough testing and the time of quality assurance specialists.

Marketing, communication Budget for marketing activities such as advertising, social media promotion, content creation, influencer collaborations, and community management to raise awareness and attract users.

Legal and Compliance: Allocating resources for legal services to ensure compliance with relevant regulations and obtain necessary licenses or certifications.

In the event that InfinityPools secures funding and ADA experiences a depreciation against the US dollar, we will adopt a careful approach to budget management. To mitigate unforeseen market fluctuations, a portion of the budget may be allocated to stable assets or fiat currency. Additionally, we will exercise cautious spending, implement strict cost controls, and prioritize essential project elements. The team will maintain flexibility and readiness to adjust expenditures based on market conditions.

We also recognize the potential necessity to outsource specific roles, and in acknowledgment of this, an allocation within the budget will be reserved to accommodate any associated expenses. Additionally, we acknowledge that certain roles may be contingent upon the project's current state of development, and their necessity may vary. Our budgeting strategy will include considerations for these factors.

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

Ecosystem Development

• Token staking projects contribute to the growth and development of the Cardano ecosystem. By attracting projects and NFT creators to the network, they help expand the variety and availability of NFTs, which can attract new users and promote innovation within the ecosystem.

Platform Utilization

• Staking solutions create demand and utilization for the Cardano network by providing a platform where NFT and FT holders can stake their assets. This increases the activity and usage of the network, further establishing Cardano as a thriving blockchain ecosystem.

Increased Liquidity

• By incentivizing users to stake their tokens, the project can increase liquidity within the Cardano ecosystem. This can improve the overall trading environment and facilitate the exchange of assets, benefiting both NFT holders and the broader community.

Enhanced Community Engagement

• Token staking projects encourage community participation and engagement by offering rewards for staking activities. This fosters a sense of ownership and involvement among community members, strengthening the network's community-driven nature.

In summary, InfinityPools brings value by increasing liquidity, driving community engagement, fostering ecosystem development, promoting platform utilization, and facilitating value accrual. It contributes to the growth and maturation of the Cardano ecosystem, attracting new users, projects, and investments, and strengthening the overall value proposition of the network.

View working prototype: https://tinyurl.com/Infinitypools1

[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