Nio - Cardano DeFi Investment Tracker

[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] Co-proposers and additional applicants

Project Lead:

+) Phan Phung Hai

Solution Architecture

+) Vu Tung Linh

Software Engineers:

+) Tran Dang Dung

+) Ho Dac Nguyen Minh

+) Truong Quang Hung

QC Engineer:

+) Le Thi Thanh Ngan

[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 build a Mobile solution to monitor on-chain transactions, analyze data, and retrieve information about locked assets that users have invested

[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

Our project is not open sourced, however, we remain open to collaborating with other projects that can benefit from our solution.

[SOLUTION] Please describe your proposed solution

Problem: Despite the significant Total Value Locked (TVL) across Cardano's ecosystem smart contracts, there is a noticeable absence of applications that effectively help users comprehend and manage their assets.

Approach: Our approach is based on several key points:

- User Experience: We prioritize a simple interface, enabling users to effortlessly view all their assets across various DApps on a single screen.

- Security and Transparency: We understand the critical importance of blockchain security. Our application only requires users to provide their public address, ensuring their information remains secure.

- Development of the Cardano Ecosystem: With the increasing diversity of investment opportunities on Cardano, our application focuses on delivering genuine value. By enhancing the visual intuitiveness of assets, we aim to broaden investment opportunities.

Major Features:

- We aggregate all assets and gather comprehensive information on smart contracts from popular DApps.

- Utilizing on-chain transaction monitoring, we create a local version and analyze data provided by DApps. This analysis enables us to retrieve information about locked assets that users have invested in specific DApps.

Audience: Investors will greatly benefit from our application. It provides users with an overview of their assets, including borrowed funds, reward assets, and actual asset values. As the range of investment opportunities on Cardano continues to expand, an application like Nio becomes increasingly indispensable.

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

NioApp is an investment portfolio management tool that allows you to easily track the Total Value Locked (TVL) of various DApps on Cardano.

We identified the need for such a tool after using several other asset management tools and finding that they only track assets held in wallets, leading to inaccuracies in reporting assets locked in investments. With this feature, every user in the Cardano community can have a more comprehensive view of their entire asset portfolio.

We will measure value for the Cardano community by:

Qualitatively:

• User feedback: Continuous feedback from the community regarding throughput, features, and user experience will be collected and utilized for improvement. Direct feedback on the app and social media platforms like Twitter & Discord.
• Total number of app visits/sessions.
• Engagement on our social media channels Twitter & Discord. We will use metrics like Likes/Shares/Retweets to gauge success on Twitter and interaction on Discord.
• Users/Investors have a comprehensive view of the DApps or Tokens they are tracking/investing in.

Long-term:

As the Cardano ecosystem continues to evolve, there will be more tools and alternative investment forms that the community can utilize. Our application remains capable of expanding to support the community.

In summary, its long-term impact ensures that the Cardano ecosystem continues to grow, support more DApps, features, and investment options for users.

[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?

We are committed to delivering our project with high levels of trust and accountability. Here are the key factors:

• Highly experienced and capable company specialized in developing DeFi tools in the Cardano Ecosystem.

To experience our current products please feel free to visit.

• Danogo OnChain Statistics Report : https://danogo.io/tvl-report
• Danogo Bond Dex : https://app.danogo.io/bond
• Danogo MultiDex : https://app.danogo.io/token

We employ Agile project management methodology to ensure clear communication, goal alignment, and accountability.

We prioritize quality assurance in development process with experienced QC engineers dedicated to this project

Collaboration, Feedback and Support: we appreciate feedback, recommendation from user, community and willing to continuously improve to match the needs from community

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

User Feedback Gathering and Integration with additional DApps: Lenfi and FluidToken (12 Weeks)

• Enhance the features of the application and integrate it with various other DApps to expand the scope of asset tracking
• Gather user feedback for assessment and improvement
• Keep following and proceed with updating to v2 or v3 (if available) for the previously integrated DApps

Outputs:

• User feedback collected on user experience and basic features.
• Upgraded version with improved and expanded features.
• Integration with new Lenfi and FluidToken

Revolutionizing UX/UI based on previous Milestone Feedback (6 Weeks)

• Leveraging the feedback collected, this milestone is dedicated to revolutionizing the user experience and user interface to set new standards in usability and design.

Outputs:

• Radical redesign user interface elements and implementing innovative user experience features to improve aesthetics, functionality, and transform user interaction with the application, based on insights from Milestone 1 feedback
• Upgraded version with enhanced UX/UI features.

Development and Deployment of Web Version (2 Weeks)

Develop and deploy a web version of the application to extend convenience and accessibility to a larger user base.

Outputs:

• Develop a fully functional web version compatible with popular web browsers, featuring a user-friendly interface that allows users to quickly check their assets, albeit with limited features

Final Milestone (4 Weeks)

This milestone represents the comprehensive deployment of the application, promoting it across key social platforms :Twitter, Telegram, and Discord. Additionally, it emphasizes continuous product improvement.

Outputs:

• Complete deployment of the application across all platforms to ensure maximum availability.
• Planning Twitter campaigns to boost product awareness and attract users.
• Establishing community interaction channels on Telegram and Discord to facilitate discussions, gather feedback, and provide timely support.
• Building a user feedback collection tool to continuously improve the product based on community feedback and other DApps within the Cardano ecosystem.

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

Project Lead:

+) Phan Phung Hai

Solution Architecture

+) Vu Tung Linh

Software Engineers:

+) Tran Dang Dung

+) Ho Dac Nguyen Minh

+) Truong Quang Hung

QC Engineer:

+) Le Thi Thanh Ngan

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

Estimated Project Duration: 6 Months

1/ Project Lead/Solution Architecture: 6M ~ 7,200 USD (1,200 USD/MM)

2/ Software Engineers: 6M ~ 6,000 USD (1,000 USD/MM)

3/ QC Engineer: 6 MM ~ 4,800 USD (800 USD/MM)

4/ Hardware resources and API : 6MM ~ 4,200 USD (700 USD/MM)

5/ Launch to community: 1500 USD

--Marketing plan

--Account for submit App to store

Total: 23,700 USD ~ 52,700 ADA

Note: ADA/USD ~ 0.45 (updated 08 May 2024)

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

• Emerging Innovator and Trust Builder: Nio, as a newcomer in the Cardano ecosystem, brings fresh value and innovative solutions to the community. By focusing on refining our UI/UX, we aim to establish trust and enhance our service offerings.
• Enhanced Safety and Security: Through the Nio App, users gain the ability to track and manage assets locked within DApps, mitigating associated risks. This feature significantly bolsters the safety and security of users' investments.
• Strategic Investment: The budget is carefully planned. Each ADA spent is intended to deliver measurable improvements in user experience and interface design, which are essential for sustained ecosystem development.

In essence, this budget allocation signifies a strategic investment directed towards improving the user experience and interface design of Nio. By broadening the capacity to track and manage assets across emerging DApps within the Cardano ecosystem, it actively contributes to the ecosystem's long-term growth and prosperity.