Mekenet Wallet

[GENERAL] Name and surname of main applicant

Biruk Tesfaye

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

Individual

[GENERAL] Requested funds in ada

200000

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

6

[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)

Mekenet aims to provide a convenient, secure, and decentralized wallet experience directly within the familiar Telegram environment.

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

No

[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 dependency

[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

Project Goal: To make Mekenet an open-source project, fostering community involvement, transparency, and innovation.

Key Components for Open-Source Release:

• Source Code: Release the complete source code of the wallet, including the Telegram bot, wallet backend, and user interface components.
• Documentation: Provide comprehensive documentation, including technical guides, API references, and tutorials, to facilitate understanding and usage.
• Licensing: Choose an appropriate open-source license (e.g., MIT, Apache License 2.0) that allows for free distribution, modification, and commercial use.
• Community Engagement: Establish a community forum or platform to facilitate discussions, collaboration, and contributions from developers and users.
• Contribution Guidelines: Clearly outline the guidelines for contributing to the project, including code style, testing procedures, and review process.

Benefits of Open-Sourcing:

• Community-Driven Development: Encourage contributions from a global community of developers, leading to faster innovation and improved features.
• Transparency and Trust: Increase transparency by making the project's code and development process publicly accessible.
• Interoperability: Promote interoperability with other decentralized systems by sharing the wallet's components and standards.
• Sustainability: Build a sustainable ecosystem around the wallet, attracting developers, users, and businesses.

Open-Source Release Plan:

• Initial Release: Release the core components of the wallet as open-source, focusing on the essential features and functionality.
• Iterative Development: Continuously improve the wallet based on community feedback and contributions, releasing updates and new features regularly.
• Community Governance: Consider establishing a community governance model to involve users and developers in decision-making processes.

[METADATA] Horizons

Wallet

[SOLUTION] Please describe your proposed solution

Mekenet is a proposed decentralized wallet designed specifically for the Telegram messaging platform. By integrating with Telegram's extensive user base and secure infrastructure, Mekenet aims to provide a convenient and user-friendly way for individuals to manage and transact with cryptocurrencies directly within the familiar Telegram environment.

Key Features:

• Seamless Integration: Integrates directly with the Telegram messaging platform, providing a familiar and convenient user experience.
• Decentralization: Utilizes blockchain technology to ensure the security, privacy, and control of user funds.
• Multi-Currency Support: Supports a wide range of cryptocurrencies to cater to diverse user needs.
• User-Friendly Interface: Designs a simple and intuitive interface that is easy to use for both experienced and novice users.
• Enhanced Security: Implements robust security measures to protect user funds and prevent unauthorized access.

Technical Approach:

Mekenet will be built on top of a decentralized blockchain platform, such as Ethereum or Cardano. The wallet will utilize Telegram's Bot API to integrate with the messaging platform and provide a seamless user experience. Key technical components will include:

• Blockchain Integration: Integration with a suitable blockchain platform to provide decentralized storage and transaction processing.
• Wallet Infrastructure: Development of a secure and efficient wallet infrastructure to manage user funds and private keys.
• Telegram Bot Integration: Integration with Telegram's Bot API to enable wallet functionality within the messaging app.
• User Interface: Design and development of a user-friendly interface for interacting with the wallet.
• Security Measures: Implementation of robust security measures, such as encryption and multi-factor authentication.

Open-Source Development:

Mekenet will be developed as an open-source project, fostering community involvement, transparency, and innovation. Key aspects of the open-source approach include:

• Source Code Release: Publicly releasing the source code to enable community contributions and transparency.
• Documentation: Providing comprehensive documentation to facilitate understanding and usage.
• Licensing: Choosing an appropriate open-source license (e.g., MIT, Apache License 2.0).
• Community Engagement: Establishing a community forum for collaboration and discussions.
• Contribution Guidelines: Outlining guidelines for contributing to the project.

Benefits:

• Increased Accessibility: Makes cryptocurrency management more accessible to a wider audience by leveraging the popularity of Telegram.
• Enhanced Security: Provides a secure and decentralized way to store and manage cryptocurrencies.
• Improved User Experience: Offers a convenient and user-friendly interface within a familiar messaging app.
• Community-Driven Development: Fosters innovation and improvement through community contributions.

By leveraging the power of blockchain technology and integrating with Telegram's extensive user base, Mekenet aims to provide a groundbreaking solution for cryptocurrency management and facilitate the adoption of digital assets.

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

Increased Adoption: By providing a convenient and user-friendly way to access and manage Cardano, Mekenet can drive increased adoption of the cryptocurrency.

Expanded Use Cases: As more people use Mekenet, it can lead to the development of new Cardano-based applications and services, expanding the ecosystem's utility.

Enhanced Community Engagement: Mekenet can foster a more engaged and active Cardano community by providing a platform for easy interaction and transactions.

Improved User Experience: By offering a seamless and intuitive user experience, Mekenet can enhance the overall perception of Cardano and attract new users.

Innovation and Development: As an open-source project, Mekenet can stimulate innovation and development within the Cardano ecosystem, leading to new features and improvements.

Strengthened Ecosystem: By contributing to the growth and development of the Cardano ecosystem, Mekenet can help strengthen its position as a leading blockchain platform.

[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 committed to delivering Mekenet, the decentralized Telegram wallet, with the highest levels of trust and accountability. This commitment is underpinned by the following principles:

• Open-Source Development: By adopting an open-source model, the project will be transparent and subject to scrutiny by the wider community. This ensures that the development process is fair, ethical, and accountable.
• Community Involvement: Encouraging active community participation will foster a sense of ownership and accountability among stakeholders. The community can provide valuable feedback, identify potential issues, and contribute to the project's success.
• Rigorous Testing and Auditing: Implementing comprehensive testing procedures and independent audits will help ensure the wallet's security, reliability, and compliance with relevant standards.
• Ethical Considerations: Adhering to ethical principles throughout the development process will maintain the wallet's integrity and trustworthiness. This includes respecting user privacy, avoiding discrimination, and promoting fairness.

Validating Feasibility:

To validate the feasibility of our approach, we will:

• Proof of Concept (PoC): Develop a working prototype of the wallet to demonstrate its technical viability and functionality.
• Community Feedback: Gather feedback from potential users, developers, and experts to identify any challenges or areas for improvement.
• Technical Assessments: Conduct technical assessments by experts in blockchain technology, cryptography, and identity management to ensure the wallet meets industry standards and best practices.
• Economic Analysis: Evaluate the economic feasibility of the project, including potential revenue streams, costs, and return on investment.
• Regulatory Compliance: Assess compliance with relevant regulations and standards, such as data privacy laws and cybersecurity guidelines.

By combining these approaches, we aim to ensure that Mekenet is not only technically feasible but also aligns with community expectations and regulatory requirements. This will foster trust and accountability throughout the project's development and implementation.

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

Milestone 1: Proof of Concept (PoC) Development (Months 1-2)

• Objective: Develop a working prototype of the wallet to demonstrate its technical feasibility and core features.
• Deliverables:Integration with Telegram's Bot API
• Basic wallet functionality for sending, receiving, and storing cryptocurrencies
• User interface design and implementation

Milestone 2: Community Feedback and Refinement (Months 2-3)

• Objective: Gather feedback from the community to refine the wallet's design, features, and user experience.
• Deliverables:Community engagement and feedback collection
• Analysis of feedback and identification of areas for improvement
• Updates to the wallet based on community input

Milestone 3: Beta Testing and Launch (Months 3-4)

• Objective: Conduct beta testing with a selected group of users to identify and address any remaining issues before the official launch.
• Deliverables:Beta testing program implementation
• Bug fixing and performance optimization
• Integration with additional cryptocurrencies
• Preparation for official launch

Final Milestone: Post-Launch Support and Development (Months 5-6)

• Objective: Provide ongoing support and development for the wallet, addressing user feedback and implementing new features.
• Deliverables:Customer support and issue resolution
• Regular updates and improvements
• Community engagement and collaboration

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

Project Manager: Biruk Tesfaye

• Responsible for overseeing the project's overall progress, coordinating team efforts, and ensuring that the wallet meets its goals and deadlines.

Blockchain Developer: Dawit

• Develops the blockchain integration, wallet infrastructure, and security features of the wallet.

UI/UX Designer: Abel

• Designs and implements a user-friendly and intuitive interface for the wallet.

Telegram Bot Developer: Kaleb

• Integrates the wallet with Telegram's Bot API to enable seamless functionality within the messaging app.

Security Expert: Manyazewal

• Conducts security assessments and audits to identify and address potential vulnerabilities.

Community Manager: Jerry

• Engages with the community, collects feedback, and fosters collaboration.

Additional:

• Legal Counsel: Provides legal advice on regulatory compliance and intellectual property matters.
• Marketing and Communications Specialist: Promotes the wallet and engages with the community.

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

Total Budget: 200,000 ADA

Breakdown:

1. Development Costs (120,000 ADA):

• Team Salaries (80,000 ADA):Project Manager: 20,000 ADA
• Blockchain Developer: 30,000 ADA
• UI/UX Designer: 10,000 ADA
• Telegram Bot Developer: 10,000 ADA
• Security Expert: 10,000 ADA
• Infrastructure Costs (20,000 ADA):Server and hosting fees
• Development tools and software
• Blockchain network fees

1. Marketing and Community Building (30,000 ADA):

• Marketing Campaigns (15,000 ADA):Social media advertising
• Content marketing
• Public relations
• Community Building (15,000 ADA):Community events
• Grants and incentives for contributors

1. Legal and Regulatory Compliance (10,000 ADA):

• Legal Counsel (5,000 ADA):Contract review
• Regulatory compliance advice
• Auditing (5,000 ADA):Security audits
• Financial audits

1. Contingency (40,000 ADA):

• To cover unexpected expenses.

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

1. Increased Adoption:

• Expanding User Base: Mekenet can attract new users to Cardano by providing a convenient and accessible way to interact with the platform.
• Lowering Barriers to Entry: By integrating with Telegram, Mekenet can reduce the barriers to entry for individuals who may not be familiar with traditional cryptocurrency wallets.

2. Enhanced User Experience:

• Improved Accessibility: Mekenet offers a user-friendly interface within a familiar messaging app, making it easier for users to manage their Cardano funds.
• Seamless Integration: The integration with Telegram allows for seamless interaction between users, fostering community engagement and facilitating transactions.

3. Strengthening the Cardano Ecosystem:

• Innovation and Development: Mekenet can stimulate innovation and development within the Cardano ecosystem by providing a new platform for experimentation and applications.
• Community Growth: By fostering a more engaged and active community, Mekenet can contribute to the overall health and growth of the Cardano ecosystem.