Aladin - Incentive mechanism to attract new users and support existing users in a decentralized manner

[GENERAL] Name and surname of main applicant

Aladin Work's team

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

Individual

[GENERAL] Co-proposers and additional applicants

Duc Le

Nguyen Mau Luu

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

6

[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)

Establish a unique incentive mechanism to attract new users and support existing users of the Aladin Work app automatically and inexpensively, running over the long term, at scale

[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

The source code of algorithms that related to blockchain will be fully open.

The source code of our unique algorithms is kept private to ensure the competitiveness with other traditional applications.

[METADATA] SDG rating

Goal 8: Promote inclusive and sustainable economic growth, employment and decent work for all

8.7 Take immediate and effective measures to eradicate forced labour, end modern slavery and human trafficking and secure the prohibition and elimination of the worst forms of child labour, including recruitment and use of child soldiers, and by 2025 end child labour in all its forms

8.8 Protect labour rights and promote safe and secure working environments for all workers, including migrant workers, in particular women migrants, and those in precarious employment

[SOLUTION] Please describe your proposed solution

The scale of immediate job demand worldwide is huge, and can be costly [the stats will be updated here later]

However, promoting to attract users through traditional advertising channels faces the following problems:

1. Legal. The barriers are huge due to government regulations and unfavorable views from users.
2. Expertise. Setting strategies and implementing marketing campaigns requires a team of highly experienced professionals.
3. Cost. The fierce competition between applications in the same field to attract users, and the advertising policies of media services have led to huge costs per user, wasting money and often causing harm. inconvenience to others.

We are building a system that can overcome the above problems. First let we quickly introduce overall project

ABOUT ALADIN'S PROJECT

Globalization has fueled a growing demand for remote, freelance, and individualized work. Businesses need access to flexible and adaptable talent to meet the evolving market needs.

According to the Employment Services Global Market Report 2024:

• The employment services market size has grown rapidly in recent years. It will grow from $1777.71 billion in 2023 to $1970.26 billion in 2024 at a compound annual growth rate (CAGR) of 10.8%.
• The employment services market size is expected to see rapid growth in the next few years. It will grow to $2952.87 billion in 2028 at a compound annual growth rate (CAGR) of 10.6%. 
• Factors that might impede the future growth of the employment services market include a shortage of quality talent and an expectation gap between recruiters and employment services companies.

Aladin's solutions

Aladin is a blockchain-based application that provides more benefits for the employers and freelancers to connect and collaborate. Built on three core pillars: Simplify the process, high committed contracts, and verifiable work experience, ensuring a seamless and secure experience for both parties.

• Simplify the recruitment process: Aladin helps employers easily find suitable candidates for their needs, while also helping part-time workers find job opportunities that match their skills and interests. Surname. The application uses advanced technology to optimize connection, saving time and effort for both parties.
• High commitment contract: Aladin provides a smart contract system, automating the process of creating and managing contracts between employers and freelancers. Participating parties will have to deposit a certain amount of tokens to ensure their commitment to completing the work. The smart contract will lock tokens decentralized without any third parties, ensuring transparency, safety and accuracy, helping both parties focus on their obligation during the contract's duration.
• Verifiable proof of experience: Aladin encodes the experience accumulated through completed contracts of both employers and freelancers onto the blockchain. This experience is securely encrypted and can be reused in future contracts and even across other applications, allowing for credibility and building trust for both parties.

With Aladin, employers can easily and quickly find qualified and trustworthy candidates to complete the job on time and effectively. Freelancers can also easily find suitable job opportunities, grow their income and build their reputation.

Use cases

• Instant job: Alice needs to fix a broken electrical wire in her house, and she's willing to pay $20 for it. This requires a quick fix, and the electrician needs the knowledge and capability to repair it. Not far from Alice's house, Bob is an experienced electrician and ready to do the job immediately. The two sign a smart contract through the Aladin app, each staking 100 tokens. Bob completes the job successfully, Alice pays $20 directly to Bob through her credit card, and the contract ends, with the tokens committed in the smart contract. Contract information is permanently stored on the blockchain.
• Remote job: ABC is a home appliance manufacturing plant in Vietnam. Through various e-commerce platforms, they've sold products to many individual consumers in numerous countries worldwide. Establishing a network of highly skilled technicians to maintain the products post-sale is both costly and challenging. The typical solution is to partner with local small-scale technical providers in each region. However, this approach often proves disadvantageous during customer deployment, and user experience information is often difficult to trust completely. The Aladin app will help ABC company connect with skilled technicians in their local area, based on specific criteria to filter candidates in blockchain data.
• Work from home job: Mr. Selam is an advertising designer in Ethiopia, looking to take on additional freelance work outside of regular hours. The Aladin app will connect him with suitable job opportunities available worldwide. He'll receive a job to design an advertising banner for the ABC factory, which he can complete from home. He can receive payment in USD via Visa or Paypal, depending on the agreement with ABC.

Users

The primary user segment are:

• The employers who finding someone to do their job with a high commitment and verifiable experience. They can be an individual or representative of businesses, organizations, or service providers...
• The employees who finding jobs that will definitely be paid when the job is completed. They are freelancers, or remote workers, or part-time workers...

The secondary user segment are:

• Employment platforms
• Service agencies

Benefits

• Lower fee
• High commitment
• Privacy is secured

Features

• Post and find job
• Smart contract with commitment
• Work experience is recorded in real time
• Self-sovereign privacy

Vision: Aladin will become the first choice employment platform. Provide transparency, fairness and privacy for employers and employees. Self-governed by user community.

How Aladin works

We are proposing to build a decentralized application to solve the above practical needs.

ABOUT ALADIN'S REFERRER REWARD MECHANISM

Why only 1 level instead of multi level marketing?

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

The impact of the Aladin application is significant and far-reaching.

For the Cardano ecosystem

1. Real-world adoption: By using the great properties of blockchain to meet a set of existing and real-world needs, Aladin is one of the first applications to apply blockchain to the real world in the world. large scale. This helps bring a good reputation to the Cardnao ecosystem.
2. Reach out fresh users: By serving for a large number of new users who have not yet had access to blockchain and Cardano. Users do not need to know technical terms that are difficult to understand about blockchain, and can even reach people who have negative thoughts about crypto. Because using the dApp does not require ADA ownership.

For the global economy

1. Resource Reallocation: By connecting individuals with jobs to those with suitable skills. For instance, someone in Singapore needing to write an advertisement to keep up with their project's communication campaign timeline, Aladin app could suggest three highly skilled authors from Jamaica, Sydney, and Seoul, for them to choose from.
2. Generating New Demands: A range of new demands will be created to provide more conveniences for users. For example, if a woman used to have to push her own car when it ran out of gas or flooded, now she can post a job through the app to find someone nearby to tow her car for repair.
3. Startup: Aladin facilitates a new wave of startups easier than ever before, creating job opportunities, new income, and contributing to the overall global economic growth.
4. Reliable Tax Data: Aladin can create tamper-proof records of job transactions, providing governments with reliable data for tax purposes. This can rationalize tax processes, promote compliance, and enhance overall governance and economic efficiency. Additionally, it helps each user fulfill their rights and responsibilities as citizens of their country.

[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?

We include people with many years of startup experience and have led teams with organizational sizes ranging from a few dozen to several hundred members. This gives us the capacity to deploy Aladin applications to different user segments effectively.

We are also advised by people with in-depth knowledge in the blockchain field, especially the Cardano blockchain, ensuring smart contracts and user identities will function properly and remain secure. Proven game theory will also be applied in the Aladin platform, to ensure Aladin will be governed decentralized by users.

Our development team also includes engineers with many years of experience, specializing in programming applications in many different fields, especially applications in the banking sector in many different countries that require expertise. Strict confidentiality and legal compliance. This ensures that the Aladin application will be programmed with security as a top priority, and comply with regulations of national government agencies. The current development team of about 80 people will meet expansion needs when the application is deployed into the real world.

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

Tokennomic

• Determine the features and utilities of the token.
• Identify the roles and responsibilities required in Aladin's ecosystem
• Determine token allocation ratios.

Incentive mechanism for referrers and Genie

• Criteria to become a Aladin referrerCriteria to become a Genie referrer
• Referral and Gennie reward pramaters
• The origin of funding for referral rewards
• The origin of funding for Genie rewards

Agorithms development

• Generate user code
• Referral rewards recordCVC calculate and record
• Rewards claim
• Tracking boad
• Analytics kits

Pilot test

• Make sure key functions work properly.
• Collect feedback from test users to improve the reward mechanism.
• Detect and fix on-chain/offchain errors.
• Evaluate the performance and scalability of algorithms.

Deploy MVP

• User guide
• Infrastructure setup
• Community feed back

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

1) Project Manager

Responsibilities:

• Leading and managing project teams to ensure efficient execution and successful project completion.
• Conducting in-depth market research and competitor analysis to gain insights into market trends, identify opportunities, and develop effective strategies.
• Performing user experience (UX) research to understand user needs, behaviors, and preferences, ensuring that products and services are user-centric and aligned with user expectations.
• Preparing comprehensive progress reports for Catalyst, detailing project milestones, achievements, and any challenges encountered, ensuring transparency and accountability.

Education:

• Bachelor's degree in Economics, The University of Economics Ho Chi Minh City

Experience:

• Over 10 years of real-world business experience in various industries, including co-founding Big Family Pharmacy, a pharmaceutical franchise system with over 1,000 pharmacies in Vietnam established within 3 years.
• Over 7 years of experience in the crypto market, demonstrating a keen understanding of blockchain technology and its applications.

Contact Information:

• Facebook: Duc Le
• Telegram: Duc Le

2) Development Manager

Responsibilities:

• Lead and manage Aladin's tech team, ensuring alignment with project goals and fostering innovation.
• Spearhead research & design of tech solutions, enhancing platform functionality, security, and scalability.
• Advocate for blockchain adoption in recruitment, collaborating with partners and contributing to open-source standards.

Education:

• Master of Business Administration (MBA)
• Software Engineer - Ho Chi Minh City University of Technology

Skills:

• Proficient in VB, Microsoft Visual Studio .Net, Java, PL/SQL
• Experience with C/C++, XML, HTML, Fox/Visual Fox, Java
• Power Designer, Ms Visual Source Safe, TortoiseSVN
• Crystal Reports, Oracle BI
• Oracle, Ms SQL Server, Access
• ERP systems, ATM Switch, iSwitch Application, SmartVista, Novus
• Banking operations, accounting, statistics

Experience:

• Co-developed and co-owned Optimal9 Core Banking System
• Successfully implemented projects for local and international banks
• Led and managed teams in the FinTech industry

Contact Information:

• Telegram: Nguyen Mau Luu
• LinkedIn: Nguyen Mau Luu

3) Core Developer team

Include some member of vKnight team, (which about 80 skilled engineers and led by Mr. Nguyen Mau Luu) and some other developers who love about the Aladin project. They specialize in:

• Fullstack development
• UI/UX design
• Smart contract development
• Security
• Networking

Responsibilities:

• Designing and developing Aladin's core infrastructure
• Creating user-friendly interfaces
• Developing smart contracts for decentralized recruitment
• Implementing robust security measures
• Optimizing and maintaining network performance

Expertise:

• Programming languages (Java, Python, JavaScript, C++, Go)
• Frameworks and libraries (Spring Boot, React, Angular, Node.js)
• Blockchain technologies (Ethereum, Hyperledger Fabric, R3 Corda)
• Security protocols
• DevOps and infrastructurepen_spark

4) Advisors:

The advisory team comprises members with in-depth knowledge of the Cardano blockchain, experienced business owners, and individuals who understand the practical needs of businesses and the market, providing practical and effective advice.

Responsibilities:

• Business model consultancy: Assist in developing and implementing business models that align with development trends, minimize competition, and have long-term growth potential.
• Legal consultancy: Provide guidance on legal aspects related to blockchain technology, ensuring compliance with regulations and mitigating potential risks.
• Technology solution consultancy: Develop Cardano solutions to meet specific business needs, from supply chain management to product traceability, decentralized payments, and more.
• Marketing consultancy: Offer insights and strategies to effectively market products or services on the Cardano platform, targeting relevant audiences and maximizing visibility.
• Game theory consultancy: Apply game theory to develop applications that can attract more users with minimal costs.
• 
  

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

The following are brokendown cost estimated by milestones:

₳11.725: Tokennomic ~ $4.690 (=23,11% of total)

• Determine the features and utilities of the token.: ₳3.000
• Identify the roles and responsibilities required in Aladin's ecosystem: ₳3.000
• Determine token allocation ratios.: ₳3.000
• Cloud Server Super #6 - 500 USD x 6 month: ₳975
• Operating coude server fee *6 month: ₳750
• Propject management: ₳1.000

₳8.000: Incentive mechanism for referrers and Genie ~ $3.200 (=15,77% of total)

• Criteria to become a Aladin referrer: ₳1.000
• Criteria to become a Genie referrer: ₳1.000
• Referral and Gennie reward pramaters: ₳1.000
• The origin of funding for referral rewards: ₳2.000
• The origin of funding for Genie rewards: ₳2.000
• Propject management: ₳1.000

₳14.000: Agorithms development ~ $5.600 (=27,60% of total)

• Generate user code: ₳1.000
• Referral rewards record: ₳3.000
• CVC calculate and record: ₳3.000
• Rewards claim: ₳2.000
• Tracking boad: ₳2.000
• Analytics kits: ₳2.000
• Propject management: ₳1.000

₳9.000: Pilot test ~ $3.600 (=17,74% of total)

• Make sure key functions work properly.: ₳2.000
• Collect feedback from test users to improve the reward mechanism.: ₳2.000
• Detect and fix on-chain/offchain errors.: ₳2.000
• Evaluate the performance and scalability of algorithms.: ₳2.000
• Propject management: ₳1.000

₳8.000: Deploy the for the prototype ~ $3.200 (=15,77% of total)

• User guide: ₳2.000
• Infrastructure Setup: ₳3.000
• Community feed back: ₳2.000
• Propject management: ₳1.000

Total request: ₳50.725 (~$20.290)

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

The costs are calculated above based on the average salary for developers in Southeast Asia at the present time in USD, then converted to ADA at a price of $0.4 per ADA. We also budget an additional 10% as a reserve budget to minimize the risk of ADA prices dropping even lower. In case the price of ADA increases higher, this reserve is used to cover unforeseen expenses.

These costs are very value to fund, as Aladin will produce the following:

1) Higher return network transaction fee

The Aladin platform's goal for the next two years is to facilitate thousands of job contracts daily. Assuming a modest daily target of 3,000 contracts, this translates to over 1 million job contracts annually. Each contract will require at least one transaction processed on the network, with each transaction costing 0.2 ADA in network fees. This translates to 200,000 ADA in transaction fees per year.

Looking ahead to the next five years, as the platform matures and enters its expansion phase, the number of employment contracts is expected to reach a peak, with the application handling around 30,000 to 50,000 contracts daily. This would generate over 2 million ADA in network transaction fees annually.

Additionally, each job may involve multiple contracts, and the network transaction fee per contract may exceed 0.2 ADA depending on the contract's complexity. This further increases the total annual transaction fee value, compare to the total amount we are requesting to be funded.

"In April2024, around 28.24 million people were employed on a part-time basis in the United States. This value is not seasonally adjusted. In line with the definition of the BLS, part-time workers are persons who usually work less than 35 hours per week." (by Statista Research Department)