Component 1/4: Web3 Legal Ease: Streamlining Legal Barriers for Business Growth

[GENERAL] Name and surname of main applicant

Joan de Ramón - Impact Plus

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

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

Eduardo Peris

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

10

[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)

We will develop a platform providing legal kits and expert guidance for EU Web3 startups, focusing on MiCA, MiFiD and CASP models, ensuring easy compliance and growth.

[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.”

Our project relies on Impact Plus for platform implementation and AXMetaverse for high-quality legal expertise. These partnerships are essential for delivering a robust legal resource platform tailored to EU Web3 startups. Additionally, we require licences for Google Workspace to facilitate project collaboration and communication. We are creating original templates, guides, and videos, ensuring all intellectual property is self-contained and managed without external dependencies.

[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 is committed to the open source ethos. All legal kits, guides, and video content developed on our platform will be publicly accessible and free to modify. This ensures that startups can not only use these resources but also adapt them to their specific needs, fostering a community-driven approach to legal compliance in the Web3 space.

[METADATA] SDG rating

DG Goals

• 9 - Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
• 16 - Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels

SDG Subgoals

• 16.6 - Develop effective, accountable and transparent institutions at all levels
• 9.3 - 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

Web3 startups, especially in the EU, face significant barriers due to complex legal frameworks that can stifle innovation and growth. Navigating these legal landscapes requires expertise and resources that many startups lack, resulting in high compliance costs and potential legal risks.

Our solution is to develop a platform that provides comprehensive legal kits tailored for Web3 startups. These kits will include everything from guides on token offerings to compliance with EU regulations (MiCA, MiFID) and the CASPs models. By automating and streamlining legal advice through AI-driven tools, we aim to lower the barriers to legal services, making them more accessible and affordable.

This platform will primarily engage Web3 startups focused on sustainable development in the EU. These startups want to understand and comply with legal standards without the hefty price tag traditionally associated with legal consultations. Secondary beneficiaries include legal professionals who can leverage our platform to reach a wider client base more efficiently.

The impact of our platform will be demonstrated through:

• User Adoption Rates: Tracking the number of startups that utilize our platform for legal guidance.
• Cost Reduction Metrics: Assessing the decrease in legal costs for startups using our platform compared to traditional legal services.
• Feedback and Testimonials: Gather qualitative feedback from users about the platform’s ease of use and the clarity of information provided.

By supporting this project, Cardano will facilitate a nurturing environment for Web3 startups, enhancing the ecosystem's overall health and innovation capacity. Our platform will directly contribute to a more robust and legally compliant network of startups, which is crucial for the long-term sustainability and growth of the Cardano community.

What sets our platform apart is its integration of AI and machine learning to personalize legal guidance, making complex regulations understandable and actionable for non-experts. This supports startups in their formative stages and reinforces the integrity and compliance of the broader Cardano ecosystem.

For a detailed overview of how this initiative aligns with our broader strategy for the Cardano ecosystem, please refer to our presentation, 'Unified Vision for Blockchain Empowerment: A Multi-Faceted Approach to Advancing Cardano’s Global Impact.' This document outlines our comprehensive approach to integrating these projects into a unified strategy that maximizes impact across multiple domains. While each proposal is designed to be effective independently and can be voted on separately, they are not binding. However, when implemented together, they create a greater synergistic impact, enhancing their overall effectiveness and contribution to the Cardano ecosystem.

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

Our project will significantly benefit the Cardano ecosystem by equipping Web3 startups with essential tools to efficiently handle complex legal landscapes. This support will not only promote the sustainability and growth of these startups but also enhance the ecosystem's overall integrity and compliance. By simplifying access to legal resources, we reduce redundancies and conserve time and resources, which in turn supports innovation and cultivates a more diverse and robust community.

Value to the Cardano Community:

1. Encouraging Innovation: By lowering the entry and operational costs associated with legal compliance, more startups will be equipped to innovate and scale within the Cardano ecosystem.
2. Enhancing Compliance: Offering streamlined legal frameworks and resources will improve the compliance rate among startups, which in turn protects the entire ecosystem from potential legal pitfalls.
3. Community Building: Providing shared resources fosters a sense of community and collaboration among startups, which is vital for collective growth and learning.

Measurement of Impact:

• Quantitative Metrics:
• Adoption Rate: Track the number of startups registering and actively using the platform.
• Cost Reduction: Analyse the reduction in legal expenses reported by startups using the platform.
• Compliance Success: Monitor the rate of compliance-related issues before and after startups begin using our resources.
• Qualitative Measures:
• User Satisfaction: Regular surveys to gauge user satisfaction and gather feedback on the utility of the resources provided.
• Community Engagement: Assess engagement levels through forums, webinars, and workshops that discuss platform usage and legal best practices.

Sharing Outputs and Opportunities:

• Open Access Platform: All resources developed will be available on an open-access platform, ensuring that every member of the Cardano community can benefit from them without restriction.
• Workshops and Webinars: Conduct regular educational sessions to guide startups on using the platform and navigating legal challenges, which will also serve as feedback sessions to improve the platform.
• Collaborations and Partnerships: Partner with other blockchain and legal entities to expand the resources available and share insights across broader forums and conferences.
• Reporting and Case Studies: Publish detailed reports and case studies demonstrating the platform’s impact, which will be shared through Cardano community channels and broader blockchain news outlets. 

[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 is uniquely positioned to deliver this project due to our comprehensive expertise in legal consulting, blockchain technology, and software development. Key members include seasoned legal professionals specialised in EU regulations and digital assets, experienced blockchain developers, and project managers with a proven track record in successfully managing complex tech projects.

1. Legal Expertise: Our legal team has extensive experience in Web3 legal frameworks and has previously assisted startups in navigating regulatory environments successfully.
2. Technical Proficiency: Our developers are skilled in building secure, scalable platforms tailored for high-stakes industries like finance and technology.
3. Project Management: Our project managers are certified professionals who have led numerous projects from conception to launch, ensuring that they are delivered on time, within budget, and to the highest standards.

Our approach combines automated tools with expert consultations to provide both breadth and depth in legal support. We will initially conduct a pilot phase with select startups to refine our platform based on real-world feedback. This will ensure our solution is not only theoretically sound but also practically effective.

Trust and Accountability:

• Transparent Reporting: We will implement a transparent reporting system to ensure all stakeholders are informed of the project’s progress and financials regularly.
• Advisory Board: An advisory board comprising legal experts and community representatives will oversee the project to provide governance and accountability.

To validate our approach, we will:

• Measure User Engagement and Satisfaction: through analytics and feedback surveys.
• Test Legal Resource Effectiveness: by comparing user outcomes before and after implementation.
• Iterate Based on Feedback: Continuously refine the platform based on user input and changing regulatory environments.

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

Milestone output(s)

• Completion of initial platform design, including user interface wireframes and system architecture.
• Compilation of initial legal content, including basic templates and guides for the most common Web3 legal needs (e.g., utility token offering, CASP compliance).

Acceptance criteria 

• Approval of platform design by the project team and advisory board.
• Legal content reviewed and approved by at least two independent legal experts in Web3 regulations.

Milestone output(s)

• Fully functional prototype of the platform developed, incorporating the initial legal frameworks and user interface.
• Execution of initial testing phase with a select group of beta testers from the target audience.

Acceptance criteria 

• Platform functionality aligns with project specifications without critical bugs.
• Positive feedback from at least 80% of beta testers regarding usability and content relevance.
• Compiled 3-5 use cases based on beta testers.

Milestone output(s)

• Official launch of the platform to the public.
• Implementation of a comprehensive marketing campaign targeting EU Web3 startups.

Acceptance criteria 

• Platform is accessible to the public with all planned features operational.
• Marketing campaign reaches at least 50% of the targeted audience as measured by engagement metrics (e.g., site visits, registrations).

Milestone output(s)

• Comprehensive project completion report detailing achievements, expenditures, and lessons learned.
• A video summarising the project’s impact, including testimonials from users and stakeholders.

Acceptance criteria 

• Report and video are reviewed and approved by the advisory board.
• Distribution of the report and video to all relevant stakeholders, including posting on the project website and social media channels.

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

Eduard Peris - CEO & Founder

Eduard holds a PhD in War Studies from King’s College London and a Master of International Affairs from Columbia University. He is the Managing Director of the Blockchain for Impact Fund and the founder of the GeoAnalytics Center, a tech-for-good organization based in the Sahel. With over 15 years of African experience, Eduard has worked on projects funded by USAID and USIP. Linkedin

Joan Deramon - Project Manager

• Role and Responsibilities: Oversees project operations, coordinates between different team members and stakeholders, ensures milestones are met on schedule.
• Experience: Extensive experience in managing technology and legal projects within the blockchain sector.
• LinkedIn Profile: Linkedin

Andrea López de Vicuña - Legal Expert

• Role and Responsibilities: Leads the legal research and framework development, ensures all content is compliant with EU regulations. Coordinates the legal responsibilities and deadlines.
• Experience: Specialized in digital assets and blockchain technology legal frameworks.
• LinkedIn Profile: https://www.linkedin.com/in/andrea-l%C3%B3pez-de-vicu%C3%B1a-de-jorge/ 

Raquel Suárez Domínguez- Senior MEAL Manager

Raquel is an expert in Monitoring and Evaluation, specializing in knowledge transfer and accountability. With twenty years of work experience with international organizations, she has successfully set up MEAL systems in various countries worldwide. She is an expert in Data Science, Programming, Python, Gender and Inclusion. Linkedin

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

Total Budget: 100,000 ADA

Legal Expenses: 66,667 ADA

• Senior Lawyers Review and Consultation: 20,000 ADA
• Junior Lawyers: 30,000 ADA
• Legal research, drafting templates and guides.
• Legal Software Licenses: 5,000 ADA
• Includes subscriptions to legal databases necessary for compliance checks and references.
• Miscellaneous Legal Fees: 11,667 ADA
• Includes potential additional consultations, expert panel reviews, and contingency funds for unexpected legal requirements.

Technology Development and Support (Impact Plus): 33,333 ADA 

• Platform Development: 15,000 ADA
• Payment to AXmetaverse for technical development and implementation.
• Maintenance and Server Costs: 5,000 ADA
• Costs associated with hosting, data storage, and maintenance of the platform.
• Software Licenses: 3,333 ADA
• Includes software necessary for project management, communication, and data analysis tools (e.g., Google Workspace, project management software).

1. Marketing and Community Engagement: 10,000 ADA

• Marketing Materials and Campaigns: 5,000 ADA
• Production of promotional materials, online ads, social media campaigns.
• Community Workshops and Webinars: 3,000 ADA
• Costs for organizing and hosting educational webinars and workshops for the community.
• Public Relations and Media Outreach: 2,000 ADA
• Engaging with media and public relations to increase project visibility and impact.

Additional Funding Sources (if necessary)

• In case additional funding is required beyond the initial ADA allocation, we will explore partnerships with relevant industry stakeholders and apply for additional grants or sponsorships.
• Potential revenue generated from premium services on the platform may also be reinvested into the project to cover any additional costs.

Notes on Budget Management

• Regular Audits: To ensure transparency and proper use of funds, regular audits will be conducted.
• Detailed Reporting: Quarterly financial reports will be shared with all stakeholders detailing expenditures and comparing them against the planned budget.
• Adjustments and Reallocations: If certain segments of the project consume less funding than anticipated, funds will be reallocated to other areas where additional resources might be necessary, with prior approval from the funding body.

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

Direct Impact and Cost Efficiency:

Our project's budget is meticulously planned to maximise impact while ensuring cost efficiency. The allocation of 66,667 ADA to legal services reflects the substantial legal expertise required to navigate the complex regulatory frameworks of the EU. This investment in high-quality legal resources ensures that Web3 startups operating within the Cardano ecosystem can avoid costly legal pitfalls and compliance issues, ultimately fostering a safer and more robust environment for innovation.

Market Rates and Cost Justification:

The costs for legal and technical services are in line with average market rates for such specialised services in the EU. Senior legal professionals typically charge between €200 to €400 per hour, depending on their expertise and the complexity of the task. Our budget allocation takes into account these rates by setting aside sufficient funds to cover approximately 200 hours of legal work, ensuring comprehensive coverage without exceeding typical costs.

Technical Development and Platform Support:

The budget of 33,333 ADA allocated to technology development and support by Impact Plus ensures the platform is robust, secure, and scalable. These costs include the development fees charged by AXmetaverse, which are competitive within the tech development industry. Furthermore, this investment enhances the Cardano ecosystem by providing a user-friendly platform that supports startups' growth and compliance, contributing to the overall health and expansion of the Cardano community.

Marketing and Community Engagement:

An allocation of 10,000 ADA for marketing and community engagement is crucial for ensuring that the platform reaches its target audience effectively. This includes not just promotional activities but also educational initiatives that will help startups understand and navigate legal challenges. This outreach is essential for the project's success and supports the broader goal of increasing adoption and activity within the Cardano ecosystem.

Economic Scale and Long-Term Benefits:

The initial investment in developing and disseminating comprehensive legal resources will yield long-term benefits by reducing the frequency and severity of legal issues faced by startups. This proactive approach not only saves money for individual startups but also reduces potential legal disputes within the ecosystem, contributing to a more stable and attractive environment for new and existing businesses.

Revenue Reinvestment and Sustainability:

Any revenue generated from optional premium services on the platform will be reinvested to enhance and expand the resources available, ensuring the project's sustainability without additional external funding. This reinvestment strategy enhances the value for money by continuously improving the service without recurring costs to the ecosystem.