Real-World Asset (RWA) backed On-Chain Lending and Auctioning Protocol

[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)

Our solution enables tokenized offerings of RWAs through on-chain auctions & allows holders to leverage these assets as collateral for loans on our proposed lending solution using smart contracts.

[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

The project will be open source 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.

[METADATA] SDG rating

SDG rating:

SDG Goals

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

17 - Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development

SDG Subgoals

17.19 - By 2030, build on existing initiatives to develop measurements of progress on sustainable development that complement gross domestic product, and support statistical capacity-building in developing countries

17.3 - Mobilize additional financial resources for developing countries from multiple sources

9.1 - Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all

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

9.b - Support domestic technology development, research and innovation in developing countries, including by ensuring a conducive policy environment for, inter alia, industrial diversification and value addition to commodities

Key Performance Indicator (KPI)

9.1.1 - Proportion of the rural population who live within 2 km of an all-season road

9.1.2 - Passenger and freight volumes, by mode of transport

9.3.1 - Proportion of small-scale industries in total industry value added

9.3.2 - Proportion of small-scale industries with a loan or line of credit

9.b.1 - Proportion of medium and high-tech industry value added in total value added

17.3.1 - Foreign direct investment, official development assistance and South-South cooperation as a proportion of gross national income

17.3.2 - Volume of remittances (in United States dollars) as a proportion of total GDP

17.19.1 - Dollar value of all resources made available to strengthen statistical capacity in developing countries

17.19.2 - Proportion of countries that (a) have conducted at least one population and housing census in the last 10 years; and (b) have achieved 100 per cent birth registration and 80 per cent death registration

[SOLUTION] Please describe your proposed solution

The RWA landscape on Cardano currently lacks a unified solution for tokenized offerings and liquidity, leading to fragmented processes and limited market participation. We are addressing these challenges by developing an innovative platform that combines an auction mechanism for companies wishing to offer RWAs with a unique lending protocol.

This approach enables seamless tokenization, enhanced liquidity, and broader accessibility, allowing both lenders and borrowers to actively participate in the RWA ecosystem of Cardano. Our solution aims to standardize interactions, reduce entry barriers, and foster a more inclusive and efficient marketplace for real-world assets.

Technical Overview

Our protocol enables RWA platforms to integrate with the Cardano blockchain, facilitating efficient auctions and lending operations. Here is a concise overview of the process:

Tokenized Offerings and Auction Protocol

1. Tokenization of RWAs: Asset owners tokenize real-world assets into digital tokens on Cardano, ensuring each token represents a claim on an underlying asset, compliant with Cardano's standards.
2. Auction Protocol: These tokens are auctioned via smart contracts on our decentralized platform, ensuring transparency and security in bidding.

Investment and Lending Dynamics

1. Investors Buying Tokens: Investors purchase these RWA tokens post-auction, acquiring stakes in the real assets.
2. Depositing Tokens in Lending Protocol: Investors use their RWA tokens as collateral to secure loans in our lending protocol, gaining liquidity while retaining asset exposure.

Lenders and Earning Mechanisms

1. Lenders Depositing ADA: Lenders provide ADA to the lending protocol to fund loans for those using RWA tokens as collateral.
2. Earning APY: Lenders earn APY based on loan demand and borrower interest rates, compensating for their provided liquidity and risk.

POC Testing and Partners:

We have secured partnerships with leading RWA focused industry giants including Navayuga, Intercontinental Infra, Godavari Project, NCD, and Navayuga Engineering to conduct proof of concept (POC) for our Real-World Asset (RWA) products. These collaborations underscore our commitment to validating and refining our innovative solutions within the Cardano ecosystem.

Long term implications on Cardano:

• More RWA Projects: Attracts diverse assets onto Cardano, expanding the ecosystem.
• New Investment Instruments: Provides investors with diverse, innovative ways to invest.
• Enhanced Yield Mechanisms: Introduces novel methods for earning yield, benefiting both lenders and investors.
• Increased Liquidity and Access: Improves liquidity for asset owners and increases global access to investment opportunities.
• Decentralized Finance Growth: Fuels the expansion of DeFi on Cardano by incorporating RWAs into various financial services.

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

Value to the Cardano Community:

• Broadening the Ecosystem: Our project significantly broadens the Cardano ecosystem by integrating RWAs, thus attracting a larger and more diverse group of asset owners and investors.
• Enhancing DeFi Capabilities: By incorporating RWA-based instruments, we enhance Cardano's DeFi landscape, making it a more versatile and attractive platform for global finance operations.
• Boosting financial Activity: By providing new avenues for investment and liquidity, our protocol boosts overall economic activity on the Cardano blockchain, enhancing its value proposition to new and existing users.

Measuring Impact:

• Increase in the number of RWA projects showing interest.
• User testimonials and case studies.
• Surveys to gauge investor feedback and confidence for this concept

Sharing Outputs and Opportunities:

• Community Engagement: We will share our progress and results through Cardano community forums, workshops, and social media to ensure transparency and community involvement.
• Collaborations: Partner with other projects and platforms within the Cardano ecosystem to share insights and enhance interoperability.
• Reports and Updates: Regularly publish reports and updates on our website and through newsletters to keep stakeholders informed about the latest developments and opportunities.

[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 team is composed of experts in blockchain technology and financial services with a proven track record for delivering high-quality Cardano-built solutions with transparency and accountability. Our existing products have served to enhance the Cardano ecosystem in a tangible way, we have strong strategic partnerships and we intend to deliver the project with the same level of quality that the Cardano Community has come to expect from us.

With a collective experience of over 30 years in the blockchain domain, our team is well-equipped with the necessary expertise to develop and deliver this project.

Development Team:

Our development team boasts significant expertise in blockchain technology, with a strong focus on the Cardano ecosystem. They have played a pivotal role in several successful projects on Cardano and are skilled in developing dApps on Cardano.

Partnerships

We have secured partnerships with leading RWA focused industry giants including Navayuga, Intercontinental Infra, Godavari Project, NCD, and Navayuga Engineering to conduct proof of concept (POC) for our Real-World Asset (RWA) products. These collaborations underscore our commitment to validating and refining our innovative solutions within the Cardano ecosystem.

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

Outputs:

• A detailed project initiation document outlining the scope, objectives, and timeline of the PoC.
• A comprehensive requirements and specifications document that includes the functional and non-functional requirements of the auction protocol.
• High-level architectural design of the PoC, including initial smart contract outlines and user interface drafts.

Acceptance Criteria:

• Project initiation document with a detailed plan of action for the UI.
• Requirements and specifications document .
• Architectural design that meets the basic needs for a PoC.

Evidence:

• Requirements and specifications document.
• Architectural design documents and initial mockups of the user interface.

Outputs:

• A functional prototype of the auction protocol developed on the Preprod, demonstrating core functionalities such as bid submission and auction settlement.
• Basic unit and integration tests to ensure the integrity of core components.
• Early-stage user interface connected to the backend logic, focusing on simplicity and functionality for the PoC.

Acceptance Criteria:

• Prototype capable of conducting basic auction processes without major bugs.
• Deployed Smart Contract Link and Public PoC deployment links.

Evidence:

• Test reports demonstrating coverage and pass rates of the contracts deployed on testnet.
• Screenshots or wireframes of the low fidelity prototype.

Outputs:

• Fully integrated PoC deployed on the Cardano Preprod.
• Project close-out report summarizing the PoC development, outcomes, lessons learned, and recommendations for future phases.
• A promotional video that highlights the PoC's features, benefits, and potential impact on the auctioning of RWAs.

Acceptance Criteria:

• Close-out report provides a clear summary of the project, with constructive feedback and clear pathways for scaling beyond the PoC.
• Promotional video effectively communicates the value and operation of the PoC to potential stakeholders.

Evidence:

• Link to the deployed PoC on the Preprod Network.
• Digital copies of all documentation.
• Project close-out report.
• Link to the promotional video.

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

Rahul Konudula, CEO - Trivolve

He has founded companies across real estate, international commodities, and mineral mining that have been running successfully for more than a decade with 8 figure annual revenue in USD. He has over eight years of experience in the RWA sector, focusing on bringing innovative solutions by integrating AI and Blockchain and consistently being one of the leading contributors to industry advancements in South India.

Trivolve Tech

We are a prominent AI and Blockchain development studio based in Dubai and India, specializing in creating innovative solutions for the Asia-Pacific region. With a dedicated team of 31 professionals, we have been serving over 20 enterprise clients, including governments, venture capital firms, and Fortune 500 companies, for more than three years. Our expertise extends to consulting for leading Cardano projects, leveraging our extensive experience in product development.

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

Milestone 1

Total Duration: 30 Days

• Senior Cardano Developer: 20000 ADA
• Cardano Solution Architect: 10000 ADA

Total: 30000 ADA

Milestone 2

Total Duration: 30 Days

• Senior Cardano Developer: 25000 ADA
• Cardano Solution Architect: 10000 ADA

Total: 35000 ADA

Final Milestone: Launch and Reporting

Total Duration: 20 Days

• Senior Cardano Developer : 10000 ADA

Total: 10000 ADA

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

A successful PoC can lead to the development of a robust and secure platform for RWA auctions on Cardano, attracting new users, developers, and investment to the ecosystem, ultimately generating significant returns on the initial investment.

We utilize a lean development methodology, emphasizing the prioritization of development and enhancements based on feedback from partners, the community, and users, which ensures efficient and cost-effective use of resources. Our strategic employment of a geographically diverse team spanning the US, Singapore, and India allows us to optimize development costs while upholding high quality and efficiency standards.

This method, along with our dedication to transparency and strategic financial planning, guarantees that the proposal delivers great value for money.