TapTools: API Hackathon

[GENERAL] Name and surname of main applicant

Alec Myers

[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)

3

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

No

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

We will host a 4-week TapTools API hackathon, offering free access to our exclusive data API to empower and reward developers to create innovative tools for the Cardano ecosystem.

[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

Due to considerations regarding intellectual property protection, commercialization strategy, and security concerns, it has been decided that the project outputs will not be open sourced. This decision is aligned with our business model and resources available for maintenance.

[SOLUTION] Please describe your proposed solution

Solution Overview:

We will tackle the pressing challenge of limited tool availability on the Cardano blockchain by hosting an incentivized TapTools API Hackathon. This event aims to attract a diverse range of participants—from seasoned developers to blockchain enthusiasts—encouraging them to innovate and contribute to the Cardano ecosystem.

Problem Identification:

Despite Cardano's robust capabilities, it trails behind other ecosystems in the variety and sophistication of available tools. This gap limits developer engagement and hampers the ecosystem’s growth potential. Our hackathon addresses this by offering incentives like ADA rewards and recognition to spur the development of a broad array of tools and projects.

Engagement Strategy:

The hackathon is designed to lower entry barriers and equip participants with our comprehensive TapTools API. This approach ensures that everyone from expert developers to those new to blockchain can contribute effectively. We aim to foster an environment of competition and collaboration, enhancing creativity and the development of practical solutions.

Impact Measurement:

Success will be evaluated based on the number and quality of tools and projects developed during the hackathon. Post-event, we will showcase these innovations through various channels to demonstrate their utility and impact within the ecosystem. Ongoing usage metrics and community feedback will provide tangible proof of the hackathon’s lasting influence.

Unique Value Proposition:

What sets our hackathon apart is the broad adoption of the TapTools API across major Cardano projects like JPG.Store, Snek, NMKR, CSwap, VyFinance, and 40+ other projects. This widespread use not only validates our API’s reliability and relevance but also makes the hackathon a compelling opportunity for developers. By drawing attention to our API and encouraging more builders to engage, the hackathon is expected to attract quality projects, increase developer participation in the ecosystem, and create a positive network effect for Cardano.

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

The TapTools API Hackathon aims to vitalize the Cardano ecosystem by encouraging developers to create a broad range of tools, projects, and services. These innovations will enhance the utility of the Cardano network, benefiting current users and attracting new developers. Such growth will increase the ecosystem’s vibrancy and innovation capacity.

To measure the hackathon’s success, we will:

• Monitor the number and scope of projects developed using our API during the hackathon.
• Evaluate the ongoing interaction of these projects with our API and other ecosystem services post-hackathon. This dual approach will help us gauge both the immediate outcomes and the long-term impact on the ecosystem.

Outcomes from the hackathon will be actively shared with:

• Project Catalyst Team: We will provide regular updates and comprehensive reports detailing the progress and success stories from the hackathon.
• Broader Cardano Community: Through X posts, graphics, videos, and articles, we will ensure that the achievements and innovations spurred by our hackathon are widely recognized.

[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?

Our team has established a robust presence in the Cardano ecosystem with TapTools, a leading data analytics platform. Our widely used API has already built significant trust among major projects, demonstrating our deep blockchain expertise and reliable technology.

We'll manage hackathon funds with strict oversight, using proven practices from Catalyst Fund 9. Funds will be allocated to subsidize API access and distribute ADA rewards to hackathon winners.

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

Open Hackathon Registration

A: Milestone Outputs

• Official opening of the hackathon registration on the project website.
• Setup of a registration system capable of handling expected volumes.

B: Acceptance Criteria

• Registration system functions smoothly with all necessary information captured.
• Meets projected registration numbers without system overloads.

C: Evidence of Milestone Completion

• Database records of registered participants.

Launch Marketing/Awareness Campaign

A: Milestone Outputs

• Development and deployment of a comprehensive marketing campaign across various media platforms.
• Creation of promotional materials, including graphics, videos, articles, and social media posts.

B: Acceptance Criteria

• Achieve specified outreach metrics such as views, clicks, and engagement rates.

C: Evidence of Milestone Completion

• Analytics reports from marketing platforms showing reach and engagement.
• Copies of published materials and screenshots from online platforms.

Remove Paywall for Hackathon Participants

A: Milestone Outputs

• Implementation of system modifications to allow free API access for hackathon participants.

B: Acceptance Criteria

• All registered hackathon participants can access the API without encountering a paywall.
• System stability with no significant downtime or disruptions caused by the changes.

C: Evidence of Milestone Completion

• System logs demonstrating successful access by participants.

Project Review and Prize Distribution

A: Milestone Outputs

• Comprehensive review and judging of submitted projects.
• Selection of winners and distribution of prizes to 1st, 2nd, and 3rd place finishers.

B: Acceptance Criteria

• Judging process is completed on schedule and in accordance with the established criteria.
• Prizes are distributed correctly and received by the winners.

C: Evidence of Milestone Completion

• Official results announcement and documentation of the judging panel’s decisions.
• Receipt confirmations from winners acknowledging the prize distributions.

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

Some of the key contributors and founding members of TapTools are:

Alec Myers

CEO of TapTools

https://www.linkedin.com/in/alec-myers-profile/

https://twitter.com/cardano_tools

Jacob Warren

CTO of TapTools

https://www.linkedin.com/in/jacob-warren-186252127/

https://twitter.com/_jacobwarren

James Cadena

COO of TapTools

https://www.linkedin.com/in/james-cadena-41280a57/

https://twitter.com/jamescadeen

Alex Yue

CMO of TapTools

https://twitter.com/Alex_ADA_

There are also 7 other core members of the team that contribute greatly to TapTools.

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

Project Management and Administration

• Project Manager and Administrative Support: Coordination, oversight, and reporting.
• Total Cost: 10,000 ADA

Technology and Infrastructure

• Implementation of changes to temporarily remove the paywall for hackathon participants.
• Costs associated with providing free API access to all registered hackathon participants for two months. This includes server load management, increased bandwidth, and additional support services to accommodate the increased user base.
• Total Cost: 30,000 ADA

Marketing and Community Engagement

• Create high-quality promotional videos that highlight the hackathon.
• Designing engaging visuals for use across various platforms, including social media and website advertisement.
• Interact with the community and ensure consistent updates and engagement leading up to and during the hackathon.
• Total Cost: 10,000 ADA

Prize Pool

• Prizes for Winners: Funds allocated for 1st, 2nd, and 3rd place winners.
• 1st place = 20,000 ADA
• 2nd place = 15,000 ADA
• 3rd place = 10,000 ADA
• Total Cost: 45,000 ADA

Event Execution

• Costs associated with judging and virtual event management.
• Total Cost: 5,000 ADA

Total Project Budget: 100,000 ADA

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

Efficient Allocation: Our budget of 100,000 ADA strategically invests in essential areas: technology, marketing, and incentives. By subsidizing API access, we enable developers to innovate freely, enhancing Cardano's toolset and ecosystem competitiveness.

Market-Based Pricing: Costs are based on current market rates for tech services, ensuring competitive value. The significant prize allocation attracts high-caliber talent, promising high-quality output.

Impact Measurement: We measure success by the adoption and utility of developed tools in the ecosystem, ensuring lasting benefits. Results will be shared across community platforms to maximize visibility and encourage further development.

Conclusion: Every ADA spent and rewarded is aimed at generating tangible improvements in Cardano’s functionality and community engagement, providing excellent value for money by fostering significant ecosystem growth.