[Aladin] Smart Contract As A Service For Employment Platforms

[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)

Develop a platform that provides smart contract utilities in the employment sector, with a system to record workers' work experience and capacity, easily integrating with the existing Web2-apps

[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

For the code repos belonging to onchain such as smart contract, Privacy, tokens... are fully opened right from the start. While the offchain repos will be gradually opened through each phrase of development.

[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

We are proposing to build a series of minimalist versions of different types of smart contracts for some specific use cases on the Aladin Work application.

This part of the work operates almost independently of the other parts of the Aladin project that we are proposing in other proposals in this fund 12.

ABOUT ALADIN'S PROJECT

You can see more details for the project here: https://docs.aladin.work/en/about

Problems statment

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.
• And other use cases: https://docs.aladin.work/en/usecases

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...

Benefits

• Lower fee
• High confident
• 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 a world-leading platform in the field of employment and human resources, providing transparency and fairness to the parties involved in a particular job, and being the choice of traditional employment platforms The system is easily integrated into their applications.

How Aladin works

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

LAMP TOKEN

• LAMP is a native token on the Cardano blockchain, inheriting all the robust features and capabilities of Cardano. This ensures seamless integration with Cardano's smart contract infrastructure, guaranteeing security, flexibility, and interoperability in the global.
• Inspired by the iconic artifact from the tale of Aladdin and the Magic Lamp, the project's token bears the name "MagicLamp" and bears the symbol LAMP.

Token Utility

• Escrow Mechanism: LAMP serves as the primary medium of value commited within Aladin's smart contracts. Employers and Freelancers can deposit LAMP tokens to secure their commitments and ensure the fulfillment of contractual obligations.
• Governance Participation: LAMP empowers token holders to participate in the governance of the Aladin ecosystem. By holding and staking LAMP, users gain voting rights, allowing them to influence the direction and development of the Aladin platform, in the futurer.
• Rewards: LAMP serves as the incentive mechanism for rewarding valuable contributions to the Aladin network. Users can earn LAMP through various activities, such as completing projects, referring new users, and actively engaging in the community.

SMARTCONTRACT FOR ALADIN APP ON CARDANO

You can visit to see more the Smart contract

Smart Contract

At the core of the Aladin app lies the smart contract, a self-executing agreement between an Employer and a Employee that facilitates the exchange of tokens and services. The contract ensures transparency and security throughout the project lifecycle.

CVC score

CVC, or Committed Value in the Contract, represents the LAMP value pledged by each party involved in a contract. It serves as a standardized metric for evaluating the financial commitment and potential value exchange within the Aladin Work ecosystem.

CVC Calculation:

The CVC is calculated using the following formula:

CVC = T * P1 + P2 + ... + Pn

Where:

• T: The total amount of LAMP tokens staked in the contract
• P1: The exchange rate of the DJED/LAMP pair on the first decentralized exchange (DEX)
• P2: The exchange rate of the DJED/LAMP pair on the second decentralized exchange (DEX)
• ...: The exchange rates of the DJED/LAMP pair on the remaining relevant DEXs at the time of price retrieval
• n: The total number of DEXs considered for price aggregation

Rationale for DJED-Based CVC Valuation:

The decision to base CVC valuation on the DJED/LAMP exchange rate stems from the inherent stability and reliability of DJED as an algorithmic stablecoin. DJED's over-collateralization and robust design, as outlined in its peer-reviewed whitepaper, make it a suitable anchor for CVC calculations.

Script

The script serves as the contract's execution engine, orchestrating the logic and defining the parameters that govern the agreement. It encompasses the following functionalities:

1. Validation of Contract Components: The script meticulously verifies the validity of the contract's constituent elements, ensuring that all parties have fulfilled their obligations and that the contract adheres to the established terms.
2. Escrow of Tokens: The script securely holds the tokens pledged by both the Employer and the Freelancer, safeguarding their funds until the completion of the project or the occurrence of predetermined conditions.
3. CVC Score Adjustment: Upon successful completion of the project, the script updates the CVC scores of both the Employer and the Freelancer, reflecting their respective performance and reputation within the Aladin ecosystem.
4. Contract Fee Remittance: The script seamlessly transfers the contract fee to the designated Treasury account, contributing to the sustainable operation and maintenance of the Aladin platform.

Contract Outcomes

The smart contract encompasses a range of potential outcomes, catering to various scenarios that may arise during the project:

1. Mutual Completion: Upon mutual agreement between the Employer and the Freelancer, signifying the successful completion of the project, the contract releases the escrowed tokens back to their respective wallets.
2. Employer Default: In the event that the project remains incomplete due to the Employer's negligence or failure to fulfill their obligations, the contract redirects the entire escrowed amount to the Freelancer's wallet and updates their CVC score accordingly.
3. Freelancer Default: If the project remains incomplete due to the Freelancer's failure to meet the agreed-upon deliverables or adhere to the contract terms, the contract releases the escrowed funds to the Employer's wallet and adjusts their CVC score accordingly.

Datum

The datum serves as the contract's input data, providing the script with the necessary information to execute its functions effectively. It comprises the following essential elements:

1. Employer ID: A unique identifier for the Employer participating in the contract.
2. Freelancer ID: A unique identifier for the Freelancer engaged in the project.
3. Token Pledges: The specified amount of tokens committed by both the Employer and the Freelancer.
4. Contract Fee: The allocated token amount designated as the fee for utilizing the Aladin platform's smart contract services.
5. Transaction Fee Wallet Address: The wallet address associated with the party responsible for covering the network transaction fees.
6. Network Transaction Fee: The specified ADA amount set aside for network transaction fees incurred during contract execution.
7. Start Time: The timestamp marking the official commencement of the project.
8. End Time: The timestamp indicating the project's scheduled completion date.
9. Contract Termination Conditions: The predefined circumstances under which the contract will be terminated and the escrowed funds will be redistributed.
10. CVC Score Calculation: The formula or algorithm employed to determine the CVC score adjustment based on the project's outcome.

Redeemer

The redeemer represents the contract's output data, reflecting the final state and outcome of the agreement. It encapsulates the following information:

1. Contract Status: A definitive indication of the contract's current status, such as "Completed", "In progress", "Expired", or "Dispute"
2. Token Distribution: A detailed breakdown of the token distribution, specifying the amounts allocated to each party's wallet.
3. CVC Score Updates: The updated CVC scores of both the Employer and the Freelancer, reflecting the project's impact on their respective reputations.
4. Timestamp: The timestamp marking the moment the contract reached its final state and the redeemer was generated.

The smart contract, with its comprehensive functionality and robust design, serves as the backbone of the Aladin app, facilitating secure, transparent, and efficient collaboration between Employers and Freelancers within the Cardano ecosystem.

[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?

The Aladin team comprises seasoned professionals with extensive experience in business and startup ventures. Leveraging insights gained from past successes and failures, we develop robust growth strategies tailored to Aladin's needs.

Startup Experience:

• Our founding members bring years of experience in launching and managing startups.
• Lessons learned from previous ventures inform our approach to Aladin, mitigating risks and maximizing chances of success.
• We prioritize crafting a development strategy aligned with user and market demands.

Deep Programming Expertise:

• Aligned with the vKnight group, our programming team boasts extensive experience in developing intricate applications in finance and banking.
• Our team's proficiency, especially in security, ensures Aladin operates securely, smoothly, and delivers a superior user experience.
• With profound knowledge of blockchain and Cardano smart contracts, we establish a sophisticated smart contract system to handle diverse work contracts effectively.

Commitment to Aladin's Growth:

• We are dedicated to building a robust, secure, and user-friendly Aladin platform that meets user needs and advances the blockchain industry.
• With unwavering commitment and expertise, we are confident in Aladin's potential to become a trusted work platform within the Cardano ecosystem.

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

Contract architecture and parameters

• Comprehensive smart contract architecture document
• Customizable smart contract input parameters
• UX/UI

For more details, lease visit: https://docs.aladin.work/en/proposals/smart-contract

Component functions

• Call the value of DJED/LAPM from Dexs
• Calculate the CVC will be locked on the contract
• Calculate the CVC for each parties if the contract is "Completed" or "Dispute"

For more details, lease visit: https://docs.aladin.work/en/proposals/smart-contract

Test Smartcontract

• PreprodPreview
• Beta versionRelease Candidate
• Official version

For more details, lease visit: https://docs.aladin.work/en/proposals/smart-contract

Deploy Smart contract MVP

• User guide the for the comment use cases
• Infrastructure setup
• Community feed back

For more details, lease visit: https://docs.aladin.work/en/proposals/smart-contract

[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

Here are the broken down for the Smartcontract MVP:

₳13.638: Contract architecture and parameters ~ $5.455 (=25,43% of total)

• Comprehensive smart contract architecture document: ₳6.000
• Customizable smart contract input parameters: ₳3.000
• UX/UI: ₳938Cloud Server Super #6 - 500 USD x 12 month: ₳1.725
• Operating coude server fee *12 month: ₳975
• Propject management: ₳1.000

₳16.000: Component functions ~ $6.400 (=29,83% of total)

Call the value of DJED/LAPM from Dexs: ₳4.000

Calculate the CVC will be locked on the contract: ₳4.000

Calculate the CVC for each parties if the contract is "Completed" or "Dispute": ₳7.000

Propject management: ₳1.000

₳15.000: Test Smartcontract ~ $6.000 (=27,97% of total)

• Preprod: ₳4.000Preview: ₳3.000Beta version: ₳3.000
• Release Candidate: ₳2.000
• Official version: ₳2.000
• Propject management: ₳1.000

₳9.000: Deploy Smart contract MVP ~ $3.600 (=16,78% of total)

• User guide the for the comment use cases: ₳3.000
• Infrastructure setup: ₳3.000
• Community feed back: ₳2.000
• Propject management: ₳1.000

Total request: ₳53.638 (~$21.455)

For more details, lease visit: https://docs.aladin.work/en/proposals/smart-contract

[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)