Cardano ADA Demand-Supply Tracking System

[GENERAL] Name and surname of main applicant

Research Guild

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

Entity (Not Incorporated)

[GENERAL] Co-proposers and additional applicants

Zubeka Dang

Ran Arino

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

12

[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)

Our solution integrates sentiment analysis, news aggregation, visualization, and prediction tools for informed Cardano ADA investment decisions.

[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.”

The project depends on several external entities for data collection and processing. These dependencies include:

• API Providers: The project relies on APIs such as the News API, Social Networking Services APIs, Google Custom Search JSON API, The Guardian API, and Bing News Search API for gathering news articles and sentiment data. These APIs are essential for accessing real-time or near-real-time information from various sources, enriching the system's data pool.
• Cloud Service Providers (e.g., Microsoft Azure): The project utilizes cloud services for storage, real-time data processing, and advanced analytics. Microsoft Azure services like Azure Functions, Azure Cognitive Services, Azure Stream Analytics, and Azure DB are integral to managing the system's scalability, reliability, and efficiency in handling large volumes of data and complex computations.
• Third-Party Libraries and Frameworks: The project relies on various Python libraries and frameworks such as NumPy, scikit-learn, PyTorch, D3.js, Plotly, and Flask. These libraries and frameworks provide essential functionalities for data analysis, machine learning, visualization, and web development, enhancing the project's capabilities and user experience.

[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

Our project outputs are governed by a Copyfair licensing framework, which enables open-source use while also ensuring fair compensation for commercial applications. This approach fosters collaboration and innovation within the open-source community while safeguarding against exploitation in commercial contexts. For more information on Copyfair licenses and their rationale, please visit the P2P Foundation website.

The RG Github repo will be available here.

[METADATA] SDG rating

The project aims to aid in informed investment decisions, contributing to economic growth and prosperity. By providing real-time market insights and analysis, it supports SDGs related to Decent Work and Economic Growth (SDG 8) and Industry, Innovation, and Infrastructure (SDG 9). Additionally, through its open-source nature, the project fosters collaboration and knowledge sharing, promoting Partnerships for the Goals (SDG 17).

[SOLUTION] Please describe your proposed solution

Cardano ADA Demand-Supply Tracking System is designed to provide real-time insights and analysis for informed investment decisions. It collects news and social media data, analyzes sentiment, visualizes topics, and displays price charts for informed investment decision-making. The goal is to empower investors of varying expertise levels with comprehensive, real-time data and analysis, and to attract new adopters and stakeholders from other ecosystems by highlighting the system's user-friendly interface and its capability to provide actionable insights.

Core Functionalities:

1. News Collection:

• Automatically gather news articles and information about Cardano and the broader cryptocurrency market from various online sources and APIs.
• Ensure real-time or near-real-time data fetching to keep the system updated with the latest insights.

2. Sentiment Analysis:

• Analyze user sentiment regarding Cardano on social networking services.
• Use natural language processing (NLP) techniques to calculate sentiment scores, ranging from -1 (very negative) to 1 (very positive).

3. Topic Visualization:

• Extract topics from the collected textual information and represent them in a mindmap-like visualization as nodes.
• Adjust the size of the nodes based on the frequency and importance of the topics—more-mentioned or important topics appear larger.
• Color-code the nodes to reflect sentiment: green for positive sentiments towards Cardano's price and red for negative sentiments.

4. News Table Display:

• Present the extracted news articles and social media posts in tabular format on the right side of the web application.
• Include attributes such as article title, publication date (if available), sentiment score, source of the article, and labels indicating whether the content is related to "demand" or "supply" side factors.

 

5. Price Chart Visualization:

• Display the current and historical price chart of Cardano ADA prominently on the upper right side of the application, above the news table.
• Ensure the chart is interactive, allowing users to zoom and scroll through different time frames.

 

6. Prediction Tools:

• Integrate a prediction algorithm that uses analysis from demand-supply news articles to aid in the fundamental analysis of Cardano prices.
• Provide forecasts that can inform users about potential price movements based on the compiled sentiment and market data.
• Generate weekly reports that visually correlate the timing of news publications with Cardano price movements, aiding in the identification of trends and the impact of specific news events.

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

The project will positively impact the wider Cardano community by empowering individuals with real-time insights for informed investment decisions, enhancing market transparency, fostering collaboration through its open-source nature, serving as an educational resource for market analysis skills, and contributing to the growth and stability of Cardano's ecosystem.

Value to the Cardano Community

The success of our project will bring multifaceted value to the Cardano community:

• Empowering Individuals: Providing real-time insights for informed investment decisions will empower individuals to make better financial choices, thereby contributing to their financial well-being and prosperity.
• Enhancing Market Transparency: By providing access to real-time insights and data, our project will enhance market transparency on the Cardano blockchain, promoting fairness and integrity within the ecosystem.
• Fostering Collaboration: The open-source nature of our project will foster collaboration among developers, researchers, and community members, driving innovation and collective problem-solving within the Cardano ecosystem.
• Educational Resource: Serving as an educational resource for market analysis skills will equip individuals with valuable knowledge and expertise, enabling them to navigate the complexities of financial markets with confidence.
• Contributing to Growth and Stability: By empowering individuals, enhancing transparency, fostering collaboration, and providing educational resources, our project will contribute to the growth and stability of Cardano's ecosystem, attracting new users, developers, and investors.

Measuring Impact

We will measure the impact of our project through various quantitative and qualitative metrics:

• User Engagement: Tracking the number of users accessing the platform, frequency of interactions, and duration of engagement to assess the reach and popularity of our project.
• Market Transparency: Monitoring changes in market transparency indicators, such as trading volumes, liquidity, and price efficiency, to evaluate the impact of our project on market dynamics.
• Collaboration Metrics: Assessing the level of community engagement, contributions to the project's open-source repository, and collaboration activities among developers to measure the project's impact on fostering collaboration within the ecosystem.
• Educational Impact: Gathering feedback from users on the effectiveness of the educational resources provided by our project, such as tutorials, guides, and training materials, to evaluate its impact on enhancing market analysis skills.
• Ecosystem Growth: Tracking indicators of ecosystem growth and stability, such as the number of new users, projects built on Cardano, and overall market capitalization, to assess the project's contribution to the ecosystem's development.

Sharing Outputs and Opportunities

We will share the outputs and opportunities resulting from our project through various channels:

• Community Engagement: Organizing webinars, workshops, and community events to showcase the project's features, discuss its impact, and gather feedback from users and stakeholders.
• Documentation and Resources: Creating comprehensive documentation, guides, and tutorials to help users maximize the benefits of our project and develop their market analysis skills.
• Social Media and Communication Channels: Leveraging social media platforms, forums, and communication channels to share updates, success stories, and educational content related to our project.
• Partnerships and Collaborations: Collaborating with other projects, organizations, and educational institutions to promote our project, expand its reach, and explore opportunities for further development and innovation within the Cardano ecosystem.

[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?

The Research Guild is part of the Project Catalyst F8 funded cohort, having two research projects funded and delivered in the areas of Cross-Chain Collaboration and Blockchain Scalability solutions. These projects were completed by adhering to internal systems of documentation and accountability, as well as being guided by Project Catalyst’s emergent reporting processes.

Our team's expertise in data analysis, blockchain research, DeFi and AI, coupled with prior successful projects in the Cardano ecosystem, ensures a solid foundation for project execution. Feasibility will be rigorously validated using a design science research method, which includes thorough literature review, extensive testing, and iterative deployment. Community and expert feedback will play a pivotal role in refining and validating our approach, ensuring that the final product meets the highest standards of quality and effectiveness.

RECRUITMENT PLAN

To bolster our project team and streamline resource allocation, we will be recruiting an experienced front-end developer proficient in JavaScript, D3.js, and UI/UX design principles. This key position will play a pivotal role in translating project requirements into functional and visually engaging web interfaces. Responsibilities include collaborating with the research team, contributing to the development of interactive visualizations, and ensuring an optimal user experience. EOI form for Developers is here.

FINANCIAL MANAGEMENT

In terms of fund management, the total funds distributed to the Research Guild to date for project salaries, administration and completion equates to US$168,738 or ₳410,000. The processes we use to manage these funds are visible in the RG Payment Pathway document.

PRIOR WORK

Research Guild: Final Reports

RG001 (Blockchain Scalability) Close-Out Report

RG002 (Cross-Chain Collaboration) Close-Out Report

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

The following outline includes five Catalyst Milestones, and one internal RG Team Milestone.

CATALYST MILESTONE. Project Planning and Requirements Gathering (Stage 1: Months 1-2):

• Milestone Outputs: Defined project scope, objectives, and deliverables; Initial research and requirements gathered.
• Acceptance Criteria: Clear documentation of project scope, objectives, and deliverables; Summarized report of initial research findings and requirements.
• Evidence of Milestone Completion: Documented project scope, objectives, and deliverables; Stakeholder approval regarding project scope and objectives.

Milestone Allocation: 25%

CATALYST MILESTONE. Data Collection and Integration (Stage 2: Months 3-4):

• Milestone Outputs: Established mechanisms for collecting and integrating data from various sources, including news APIs, social media platforms, and blockchain networks.
• Acceptance Criteria: Successful establishment of data collection mechanisms and integration processes.
• Evidence of Milestone Completion: Documentation of implemented mechanisms and integration processes, along with successful testing results demonstrating data collection and integration functionality.

Milestone Allocation: 20%

CATALYST MILESTONE. Sentiment Analysis Implementation (Stage 3: Months 5–6):

• Milestone Outputs: Developed and implemented sentiment analysis algorithms for analysing user sentiment towards Cardano ADA.
• Acceptance Criteria: Successful development and implementation of sentiment analysis algorithms.
• Evidence of Milestone Completion: Documentation of the developed algorithms and their successful application in analysing user sentiment towards Cardano ADA.

Milestone Allocation: 20%

CATALYST MILESTONE. Visualization Design and Development (Stage 4: Months 7-8):

• Milestone Outputs: Designed and developed interactive visualizations representing market data, sentiment analysis results, and price trends.
• Acceptance Criteria: Successful design and development of interactive visualizations.
• Evidence of Milestone Completion: Demonstration of the interactive visualizations showcasing market data, sentiment analysis results, and price trends.

Milestone Allocation: 20%

RG TEAM MILESTONE. Prototype Development  (Stage 5: Months 9–10):

• Milestone Outputs: Built a functional prototype of the Cardano ADA Demand-Supply Tracking System, integrating data collection, sentiment analysis, and visualization components.
• Acceptance Criteria: Successful development of the functional prototype with integrated components.
• Evidence of Milestone Completion: Demonstration of the functional prototype showcasing data collection, sentiment analysis, and visualization components.

Milestone Allocation: 0%

CATALYST MILESTONE. Testing, Validation, and Optimization (Stage 6: Months 11–12):

• Milestone Outputs: Conducted comprehensive testing to ensure accuracy, reliability, and performance. Validated results against ground-truth data and user feedback. Optimized system performance and scalability. Project final report prepared.
• Acceptance Criteria: Testing conducted thoroughly with documented results showing accuracy, reliability, and performance metrics. Results validated against ground-truth data and user feedback. System performance and scalability optimized successfully. Final report submitted.
• Evidence of Milestone Completion: Documented test results demonstrating accuracy, reliability, and performance metrics. Evidence of validation against ground-truth data and user feedback. Improved system performance and scalability observed. Final report submitted and accepted.

Milestone Allocation: 15%

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

Zubeka Dang | Project Lead, Machine Learning Researcher, Bachelor of International Economics and Trade, Data Science Student (2021 – Current)

Zubeka is a machine learning researcher with a diverse background spanning trading, technology, and linguistics. Her multifaceted experience has cultivated a strong passion for machine learning, deep learning, and data analysis. Zubeka holds a Bachelor of International Economics and Trade from Renmin University of China and is currently pursuing a Bachelor of Data Science and Analytics at Seneca College in Toronto, Canada.

Troy Egan | RG Project Manager, Research Lead, PhD Candidate (2019-Current)

Troy is a PhD candidate at Auckland University, studying peer-production strategies within the creative sector. He has 20 years’ experience in the creative, health and community development sectors in New Zealand and Australia. He is also a previous Co-Proposer and Catalyst Fund3 Co-Recipient with NFT-DAO. Troy will be supporting the Research Guild’s project management and research contributions.

Sév Bonnet | Research Lead, Compliance / IP Auditing, PhD Candidate (2021-Current)

Sév has a professional background in license compliance and intellectual property auditing in the software industry, both open source and proprietary. He started his PhD with The University of Osnabrück in Germany, focusing on the impact of distributed ledger technology for the management of the intellectual property life cycle. Sév has research interests in NFT’s, DAO’s and has contributed to governance building within several Catalyst projects.

Ran Arino | Data Scientist and Analyst, Honours Bachelor of Data Science and Analytics (2022-Current)

Ran is a data scientist and analyst with a strong foundation in Python programming, machine learning, and data analytics. Leveraging a deep understanding of technological tools, he has demonstrated remarkable adaptability in integrating emerging technologies to enhance decision-making processes and task optimization. He holds an ongoing Honours Bachelor of Data Science and Analytics degree from Seneca Polytechnic in Toronto, Canada.

IdeaHub

IdeaHub is an emergent project within the Research Guild that will explore research and development in the areas of tech enterprise, collaboration and platform building. We are open to working with like-minds in this domain.

A front-end developer is to be recruited (EOI form available here).

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

Total Requested Funds: 200,000 ADA

Project Costs - Project Team Salary

Project Lead (x1 @ 10 hours per week)

• @ US$35.50 per hour
• @ 10 hours per week = $355
• @ 48 weeks = $17,040
• Subtotal = US$17,040 (₳37,075)

Research Lead (x1 @ 10 hours per week)

• @ US$35.50 per hour
• @ 10 hours per week = $355
• @ 48 weeks = $17,040
• Subtotal= US$17,040 (₳37,075)

Developer (x2 @ 10 hours per week)

• @ US$30.00 per hour x 2 = $60.00
• @ 10 hours per week = $600
• @ 48 weeks = $28,800
• Subtotal = US$28,800 (₳62,571)

Project Management (x1 @ 10 hours per week)

• @ US$42.64 per hour (project manager rate)
• @ 5 hours per week = $426.40
• @ 48 weeks = $20,467.20
• Subtotal = US$20,467.20 (₳44,467)

Project Costs:

• Integration and Testing: $2,428.50
• Community Engagement and Feedback: $2,428.50
• Administration and overhead: $2,428.50
• Contingency and Unexpected Costs: $809.50
• Subtotal = US$8,095 (₳17,668)

Total = US$91,442.20 (₳198,856)

• Note: The USD to ADA rate is $0.46 at the time of writing. In the event that ADA prices should rise considerably, surplus funds will be employed on extra developer hours or roles.

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

The cost of the project represents value for money for the Cardano ecosystem by enabling informed decision-making through real-time insights and analysis, enhancing market transparency, fostering community collaboration, serving as an educational resource, and strengthening ecosystem infrastructure. This investment contributes to the ecosystem's growth, innovation, and resilience, ultimately benefiting users, developers, and investors. With experience in blockchain research and Catalyst-funded projects, our team will conduct in-depth analysis and documentation, achieving campaign goals efficiently and cost-effectively.

See our project salary base rates here.