CSWAP Systems: On-Chain Multi Asset Liquidity Pools

[GENERAL] Name and surname of main applicant

Jon Kravetz

[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

300000

[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

No

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

While our existing off-chain solution relies on matcher-controlled scripts interacting with an off-chain multi-asset LP, the new on-chain solution would leverage smart contracts written in Aiken.

[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

While we are open to the possibility of open-sourcing this technology in the future, it is not strategically advantageous for our company to open-source our code at this time. Doing so would relinquish a significant competitive edge.

[METADATA] SDG rating

>> SDG SELECTION:

SDG goals:

Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

Reduce inequality within and among countries

Ensure sustainable consumption and production patterns

SDG subgoals:

By 2030, empower and promote the social, economic and political inclusion of all, irrespective of age, sex, disability, race, ethnicity, origin, religion or economic or other status

Ensure equal opportunity and reduce inequalities of outcome, including by eliminating discriminatory laws, policies and practices and promoting appropriate legislation, policies and action in this regard

By 2030, achieve the sustainable management and efficient use of natural resources

Increase the access of small-scale industrial and other enterprises, in particular in developing countries, to financial services, including affordable credit, and their integration into value chains and markets

[SOLUTION] Please describe your proposed solution

A multi-asset liquidity pool is a crucial concept in decentralized finance (DeFi), similar to an ETF, as it allows the bundling of different asset classes into a single pool. This setup not only enables users to hedge their investments but also transforms the pooled assets into a new exchangeable asset that can serve as arbitrage pools, such as for standard DEXs.

In doing so, liquidity providers (LPs) can earn transaction fees. While the impact of implementing such a tool on Cardano's DeFi market is uncertain, we believe it is valuable to explore the potential of this DeFi structure on our blockchain.

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

This novel concept creates new financial opportunities for market participants in DeFi.

Success and Impact can be measured in terms of TVL, volume, earnings, and fees generated.

[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 a proven track record over the past 2+ years delivering quality products on Cardano. Our mission has always been to improve Cardano’s DeFi and NFT ecosystems and to create value for the community.

Our NFT DEX, whose beta up to this point has simply been a proof of concept, has already done over 2.3 million ADA in volume to date. We are accountable to our community to keep creating valuable products for the Cardano ecosystem. We have just released a major overhaul of this platform, where anyone will be able to provide liquidity. This marks a huge step forward for the ecosystem.

Our team has decades of valuable experience in multi-billion dollar tech, retail, and aerospace companies, and we are highly-qualified to build performant and robust products on Cardano.

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

Business Requirements Gathering

A) Milestone Outputs: CSWAP Systems will provide a detailed business requirements document. This document will outline exactly what is needed from a business perspective to deliver a complete solution for our MVP.

B) Acceptance Criteria: The business requirements document must describe the requirements in a way so that the team can begin solution design process.

C) Evidence of Milestone Completion: Business and Technical leadership will sign off on the business requirements document and share with Catalyst team as requested.

Screen Design Documentation

A) Milestone Outputs: CSWAP Systems will provide a working screen design document with wireframes and functional description for each screen/module. (version 1)

B) Acceptance Criteria: The screen design document, which is a living agile document, must account for all new screens and modules and fulfill the business requirements.

C) Evidence of Milestone Completion: Business and Technical leadership will sign off on the screen design document. A link to the agile SDD will be provided to Catalyst team for ongoing review.

Smart contract architecture

A) Milestone Outputs: CSWAP Systems will provide a finalized smart contract architectural document.

B) Acceptance Criteria: Smart contract architecture fulfill the business requirements.

C) Evidence of Milestone Completion: Business and Technical leadership will sign off on the finalized smart contract architecture. A copy of the finalized smart contract architectural document will be provided to Catalyst team for ongoing review.

Delivery of a working testnet environment

A) Milestone Outputs: CSWAP Systems will provide a working testnet environment.

B) Acceptance Criteria: Test net environment meets the business and technical requirements.

C) Evidence of Milestone Completion: Business and Technical leadership will sign off on the test net environment. A link to the test net environment will be provided to Catalyst team for ongoing review.

Delivery of a working mainnet environment

A) Milestone Outputs: CSWAP Systems will provide a working mainnet environment.

B) Acceptance Criteria: Main net environment meets the business and technical requirements.

C) Evidence of Milestone Completion: Business and Technical leadership will sign off on the main net environment. A link to the test net environment will be provided to Catalyst team for ongoing review.

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

Project Owner - Jon Kravetz - Responsible for overall direction and planning for the project.

https://www.linkedin.com/in/jon-kravetz-74b5331b/

Lead Front End - Jon Kravetz - Responsible for the public facing user experience and screen design documentation.

Plutus Architect - Buzz (not publicly doxxed) - Responsible for smart contract architecture/innovation and testing. Any required Plutus/Aiken smart contracts.

Lead Back End - Franklin Chua - Responsible for Plutus script development and backend API. https://www.linkedin.com/in/franklinchua/

Business Consultant - Mark Williams - Financial Impact Analysis

https://www.linkedin.com/in/mark-williams-mba-4b833a56/

DevOps - Shield (not publicly doxxed) - cloud infrastructure.

Front End Developer - Charanel Gile - Front end development

https://www.linkedin.com/in/charanelgile/?originalSubdomain=ph

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

Smart contract R&D: $40,000

Smart contract testing: $15,000

Front-end UI/UX development: $40,000

Backend/integration: $20,000

Project Management: $10,000

Working capital: Excess

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

The proposed budget conforms with industry standards for highly skilled software development. Our team has a proven track record of consistently delivering top-notch products on Cardano. We believe that multi-asset liquidity pools, as the first implementation of their kind in the cryptocurrency sector, will attract significant interest to Cardano. This technology will create novel ways for users to interact not only with Cardano Native Assets, but also for tokenized real-world assets (RWAs).