Open-source for Hydra Wallet integrated into Telegram

[GENERAL] Name and surname of main applicant

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

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

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

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

We will build an open-source Hydra wallet integrated into Telegram to demonstrate the use case and make it easier for developers to create projects on Telegram using Hydra.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

[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?

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

All software and documentation developed under this proposal will be released under MIT License. This will allow anyone to do whatever they wish with the original code, as long as the original copyright and license notice is included either in the distributed source code or software.

[SOLUTION] Please describe your proposed solution

Awareness of the problem:

• Hydra has garnered significant attention for Cardano due to its potential to enable one million transactions per second. However, over three years since its introduction, the technology has yet to be officially implemented. This has led many within the community to speculate that Hydra is dead.
• There have not been many use cases for Hydra technology to attract solution development projects on this technology.
• Developers face difficulties in building on Hydra due to the lack of source code libraries.
• We are witnessing an incredible surge in activity on the Near blockchain network and TON coin market cap surpassing ADA, both of which are attributed to the integration of blockchain on the Telegram platform. This is partly due to Telegram surpassing Discord in terms of daily active users while offering more extensive permissions for application integration on their platform. More importantly, the convenience of using wallets on Telegram has touched the most essential needs of cryptocurrency users.

Approach:

• Inspired by the success of the NEAR wallet integrated into Telegram with the ability to play mini-games to earn rewards, the NEAR wallet on Telegram has attracted millions of daily active gamers, generating a significant amount of transaction fees for the network. We want to build on this idea on Cardano, but transaction fees and block size do not allow for this to be done on the mainnet. It is great that Hydra will be the right solution to address this issue (in terms of proof of concept at this point in time).
• Expand use cases: Creating a wallet using Hydra on Telegram will open up more use cases than just mini-games, providing users with a seamless, simple, and convenient experience.

Description:

• Technology Stack: Backend - Node.js programming language; Frontend - React framework; Cardano interaction - Mesh.js library.
• Telegram Mini-App Development: Utilize Telegram SDK to connect with Hydra Wallet.
• Feature Development: Prioritize building essential features before proceeding to more complex ones. Planned Hydra Wallet features:

1.Create and provide seed phrase: Create and store your seed phrase securely to guarantee that only you can access your funds on Hydra Wallet. Employ private key encryption techniques and implement security measures such as passphrases.

2. Recovery Feature: Offers mechanisms to recover wallets in case of lost access, such as seed phrase recovery.

3. Check Balance: Provides an update on the balance of cryptocurrencies in the wallet. Allows viewing the history of transactions sent and received.

4. Send and Receive: Send and receive funds on both the Cardano Layer 1 and Hydra Layer 2 networks. Users can enter the recipient's wallet address and the amount of cryptocurrency to send and provides a wallet address for users to receive cryptocurrency from others.

5. Multilateral Asset Support: Supports storing and trading a variety of asset tokens across the diverse Cardano ecosystem.

Attract:

• Cardano Community: This proposal will serve as a testament to the maturity of Hydra technology and its immense potential for widespread adoption in the future.
• Project Owners: Open doors for a plethora of creative ideas leveraging Hydra technology. This will attract interest and investment in research and development of projects on the Hydra platform.
• DEVs: Provide developers with an open-source Hydra wallet library, reducing research barriers and saving project development time.

Uniqueness: 

• The first Cardano application to be integrated into Telegram.
• The first Hydra wallet to be used on Telegram.
• Apply Hydra technology to specific use cases.

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

Values for the Cardano Community:

• Eradicating doubts and negative perceptions about Hydra.
• Unveiling various use cases for Hydra technology to build projects on Cardano.
• Attracting more developers to build on Hydra and Cardano.

The impact of the proposal will be measured by the following metrics:

• Quantitative metrics: We will track the increase in the number of developers referencing our codebase.
• Qualitative metrics : Gather feedback and contributions from the Cardano community, developers, and investors regarding the Hydra wallet codebase and their awareness of Hydra.

Share results:

• Proposal : All results of implementing proposal will be posted to the Milestone Module of Project Catalyst.
• Source Code: The source code for the Hydra wallet on Telegram will be made available on the following pages:

1. Our Github.
2. IOHK: https://github.com/input-output-hk/hydra/discussions
3. IntersectMBO: https://github.com/IntersectMBO

• Marketing: We will promote this open-source code on social media platforms and Cardano developer communities.

[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 possesses extensive experience in delivering technology solutions for government organizations, large enterprises, and blockchain projects.

• Team: Senior programmers with expertise in programming languages and Oracle databases. Holding advanced certifications such as Oracle Database 10g Administrator Certified Associate, Higher Diploma in Software Engineering, Python for Financial Analysis and Algorithmic Trading, Python for Computer Vision with OpenCV and Deep Learning…
• Experience: Developed Oracle technology and data management solutions for government organizations such as the State Bank of Vietnam and the General Statistics Office. Provided a wide range of infrastructure services to large enterprises, including SSL security certificates, cloud computing, digital signatures, eKYC, and electronic contracts…
• Ability: Team member has experience as a project manager for blockchain projects such as cryptocurrency exchanges and lending protocols. Additionally, he has experience building game projects like Atlantica and Ninjago, as well as creating complex chatbots on Telegram.

Money management: Our team's staff and advisors have extensive experience in project management and is the CEO of long-standing technology companies, so we can assure you that this budget will be managed properly and used effectively.

Feasibility: 

• Hydra Wallet: We received technical support from IOG to create the Hydra wallet in concept form.
• Hydra system:

• UI/UX: We've designed a user interface to help you better understand this proposal.

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

Research, analyze and design framework - 1 month

• Conduct a comprehensive analysis of technical requirements and potential strategies for developing the Hydra wallet and integrating it with Telegram.
• Configure a version control system and collaboration tools.
• Create an initial project structure and repository.

Acceptance criteria:: 

• Completion of system analysis and identification of work packages for implementation of the proposal.
• Initial repository.

Evidence of milestone completion:

• System Analysis File.
• Github Link.

Building Hydra Wallet - 2 month

• Set up Cardano node.
• Set up Hydra node.
• Develop Hydra Wallet Backend.
• Develop the features Create and provide seed phrase, Recovery Feature, Send and receive money, Transaction history.

Acceptance criteria:

• Completed the development of Hydra wallet.

Evidence of milestone completion:

• Hydra wallet source code Github link.

Integration into Telegram - 1 month

• Integrate with the Telegram platform.
• Develop wallet interface.
• Conduct comprehensive testing to ensure seamless functionality.

Acceptance criteria:

• Complete functionality and compatibility testing.
• Complete Hydra wallet integration on Telegram.

Evidence of milestone completion:

• Publish Hydra wallet bot as a mini webapp on Telegram.
• Updated Hydra wallet Github repository with Telegram integration code.

Open source product launch and marketing - 1 month

• Provide developer documentation.
• Promote product and libraries through marketing efforts.
• Contribute to open-source projects on Github groups such as IOHK, Intersect MBO ....
• Support to answer questions

Acceptance criteria:

• Complete developer documentation.
• Complete open-source contribution, promotion

Evidence of milestone completion:

• Provide Github link to developer documentation.
• Provide links to websites where code has been contributed.

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

1.Cong Nghia Khiem - Project Manager

Link: https://www.linkedin.com/in/congnghiakhiem/

Description: Computer Science Engineer with 15 years of experience working in large domestic technology corporations and enterprises.

• Project manager for numerous government technology solutions.
• Senior programmer in programming languages for finance, OpenCV and Deep Learning.
• Senior programmer in databases Oracle, MS SQL Server, MySQL, MongoDB.
• Experience in managing projects for cryptocurrency exchanges, crypto lending protocols.
• Currently the director of 3 large technology companies: Cantek Technology Company, Hai Dang Digital Solutions, FutureLang Education Technology Group.

2.Bui The Do - Technical Lead

LinkedIn: https://www.linkedin.com/in/bui-the-do-142385ba/

Description: He has over 10 years of experience as a programmer, including 5 years of experience and 5 years as a technical manager in Vietnam.

• Do's projects have involved a number of prominent technologies such as Chrome (Browser - C++), Odoo (Erp - Python & PostgreSQL), Django (Web application - Python & PostgreSQL, Mysql), WordPress (Web - PHP & Mysql).
• He has worked at BKAV Corporation, as a project manager for the development of the BOS operating system for Bphone phones.

3.Nguyen Viet Thanh - Project Advisor

Link: https://www.linkedin.com/in/nguyenvietthanh/

Description: He has 10 years of experience as CEO of Vtechcom Company, a company specializing in developing mobile application software and providing digital transformation solutions for businesses in Vietnam.

• He has experience carrying out a Catalyst Fund 11 proposal for a wealth management app.

3 other personnel participating as proposal implementation members.

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

Milestone 1: 1 month - Research, analyze and design framework

3 people x 80 hours x 50 USD/hour = 12,000 USD

Milestone 2: 2 month - Building Hydra Wallet

3 people x 180 hours x 60 USD/hour = 32,400 USD

Milestone 3: 1 month - Integration into Telegram

3 people x 100 hours x 60 USD/hour = 18,000 USD

Final Milestone: 1 month - Open source product launch and marketing

3 people x 80 hours x 50 USD/hour = 12,000 USD

Total budget: 74,400 USD = 165,333 ADA

Includes milestone work and other costs:

• Manage project reports 
• Pay data storage fees
• ADA price risk provision decreased
• Income Tax
• Expenses incurred

(Exchange rate calculated at time of proposal submission $0.45/ADA)

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

Most of the costs are paid to app developers. The proposed salary is based on the average salary of blockchain developers with experience in Asia.

Sponsoring us will help save costs:

• Finding and recruiting experienced blockchain programmers.
• Office space and equipment rental.
• It didn't take much time to learn and research because we received technical support from IOG to create the Hydra wallet in concept form.

Risk mitigation:

• As a team that has worked on many projects in the blockchain industry, we are willing to take the monetary risk of being paid in ADA. ADA price drops are a risk we take on so we have multiple contingency plans in place for any eventuality, while any increase allows us to expand our range.