Open-Source Smart Contract Library for Midnight: Catalyzing Midnight's Developer Ecosystem with Ready-to-Use Smart Contracts

[GENERAL] Name and surname of main applicant

Seira Yun

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

Entity (Incorporated)

[GENERAL] Requested funds in ada

200000

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

12

[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 offer a secure library of smart contracts for Midnight, which includes basic contract implementations. This library will enhance security, reduce development costs, and speed up project deployment.

[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 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 proudly open source, licensed under the GNU General Public License v3.0 (GPLv3). This license allows others to freely use, modify, and distribute our code, under the condition that any derivative work will also be open source under the GPLv3. This fosters collaboration and community-driven development, as it encourages other developers to contribute to our project, or to use our code as a starting point for their own projects, thus driving innovation in the sector.

By making our project open source, we aim to contribute to the global movement of shared knowledge and collaborative problem solving. This approach ensures transparency, promotes the sharing of knowledge, and encourages a collective approach to addressing the challenges associated with the impact job sector. Ultimately, we believe that open-sourcing our project will lead to a more robust, efficient, and impactful solution, thanks to the contributions of the global developer community.

[METADATA] Horizons

Developer Tools

[SOLUTION] Please describe your proposed solution

What is Midnight?

Midnight is a data-protection blockchain designed to safeguard user data while focusing on security, compliance, and developer experience. Input Output Global (IOG) is developing Midnight and Midnight will be the first partner chain of Cardano. 

Problem

Given that Midnight is still in testnet, there's currently no smart contract library to help developers accelerate their work on this platform. Our goal is to address this gap so that when Midnight's mainnet launches, developers can build on it securely and efficiently. 

Solution

Our proposed solution is to develop and maintain an open-source library of smart contracts specifically designed for the Midnight blockchain. This library will initially include three essential smart contracts:

1. Escrow Contract: Facilitates secure transactions between parties by holding funds until predetermined conditions are met.
2. Dispute Resolution Contract: Provides a framework for resolving conflicts between parties in a decentralized manner.
3. Crowdfunding Contract: Enables decentralized fundraising campaigns with built-in accountability and transparency.

We perceive the problem as a lack of standardized, secure, and efficient smart contract templates for the Midnight blockchain. By providing these foundational contracts, we aim to accelerate development, enhance security, and foster innovation within the Midnight ecosystem.

Our approach is rooted in the principles of open-source development, community collaboration, and security-first design. We believe that by creating a shared resource, we can collectively build a more robust and trustworthy blockchain ecosystem.

This project will engage developers, entrepreneurs, and businesses looking to build on the Midnight blockchain. By providing them with well-tested, secure smart contract templates, we lower the barrier to entry and reduce the risk of vulnerabilities in new projects.

To demonstrate our impact, we will track metrics such as:

• Number of projects utilizing our smart contract library
• Community contributions and improvements to the contracts
• Reduction in smart contract vulnerabilities in projects using our library
• Time saved in development and auditing processes

What makes our solution unique is its focus on the specific needs and features of the Midnight blockchain, combined with a commitment to open-source principles. This project will benefit the entire Midnight ecosystem, from individual developers to large-scale applications.

This initiative is important to Cardano as it supports the growth and adoption of Midnight, a key project in the Cardano ecosystem. This library will simplify the onboarding process for developers unfamiliar with the Cardano ecosystem, making it easier for them to start building on Cardano and Midnight. As a result, it will contribute to the growth of the Cardano ecosystem. By providing essential tools and resources, we contribute to Cardano's vision of creating a more inclusive and accessible blockchain ecosystem.

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

Our project, the Open-Source Smart Contract Library for Midnight, will have a significant positive impact on the wider Cardano community in several ways:

• Accelerating development on Midnight: By providing ready-to-use, secure smart contract templates, we'll enable faster and more efficient development of applications on the Midnight blockchain.
• Enhancing security: Our well-audited contracts will serve as a benchmark for security best practices, potentially reducing vulnerabilities in the Midnight ecosystem.
• Fostering innovation: With lower barriers to entry, more developers and entrepreneurs can bring their ideas to life on Midnight, driving innovation within the Cardano ecosystem.
• Building community: Our open-source approach will encourage collaboration and knowledge sharing among Cardano and Midnight developers.

To measure the impact of our project, we will track and analyze the following metrics:

• Adoption rate: Number of projects utilizing our smart contract library
• Community engagement: Quantity and quality of contributions to the library from the community
• Development efficiency: Average time saved in development and auditing processes for projects using our library
• Ecosystem growth: Increase in the number of new projects launched on Midnight

We plan to share the outputs and opportunities resulting from our project through various channels:

• GitHub repository: All our code, documentation, and development progress will be publicly available on GitHub.
• Regular blog posts: We'll publish updates, case studies, and best practices on our project website and Medium.
• Community forums: We'll actively participate in Cardano and Midnight community forums, sharing insights and gathering feedback.
• Workshops and webinars: We'll organize educational events to help developers understand and utilize our library effectively.

By openly sharing our progress, findings, and resources, we aim to maximize the positive impact of our project on the entire Cardano community and contribute to the growth and success of the Midnight blockchain.

[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 aptly suited and equipped to successfully deliver this project. We possess the requisite capabilities that uniquely position us to execute this project to high standards of trust and accountability.

Socious is a fast-growing impact startup that provides a talent marketplace, making impact work accessible and transparent. We connect purpose-driven professionals with impact organizations through AI matching. We use blockchain to trace impact work and reward contributions.

Socious is supported by 500Global, Microsoft, and Milkomeda Foundation. Our platform lists over 80k jobs, 24k organizations, and has 8k registered users. Our team consists of experts in impact measurement, finance, data science, and blockchain development.

We have 10 full-time members and 20+ part-time contributors. Our team members include:

• Seira Yun

Title: Founder and CEO

Role: Product Ownership, Project Management, Research

Linkedin:

https://www.linkedin.com/in/seirayun/

Bio:

Seira Yun is a Cardano Ambassador and an ICC member. He is a serial impact entrepreneur and an impact angel investor with years of experience in the impact sector, leading teams within the ICRC, UNHCR, and social ventures. As a full-stack developer with a Master's degree in Social Innovation from the University of Cambridge, Seira enjoys blending technology with purpose. Upon exiting his first social venture in 2021, he founded Socious, a decentralized talent marketplace that uses blockchain for verified certificates and AI for matching individuals to meaningful jobs, eliminating background checks and fostering social and environmental change. He is also a board member at TELL, a suicide prevention non-profit. When not working, you can find Seira shooting hoops, running, reading, and spending quality time with his kids.

• Elaine Cardenas

Title: Head of Product

Role: Blockchain Development, Product Management.

Bio:

Elaine has been coding in Haskell and other functional programming languages for the past 7 years and building on the Cardano blockchain for the past 3 years. Prior to joining Socious, she worked for Sundae Labs, contributing to the SundaeSwap V3 implementation and Hydra development. She also worked at Obsidian, an IT consulting company, where she helped Starbucks with its loyalty points system. Elaine is an active Cardano community member and serves as a delegate to the Constitutional Convention in Argentina.

• Chrisanne Yee

Title: Founder’s Associate

Role: Project Management Assistant, Admin and Finance.

LinkedIn: https://www.linkedin.com/in/chrisanneyee/

Bio:

Chrisanne is trilingual in English, Chinese and Japanese. She has experience with marketing and business development. Chrisanne is an active Cardano community member and serves as an alternate to the Constitutional Convention in Argentina.

• Taichi Yokoyama

Role: Communication and Marketing

LinkedIn: https://www.linkedin.com/in/mryokoyama/

Bio:

Taichi is an entrepreneur and a Cardano Stake Pool Operator (AIRX). Taichi is an active Cardano community member and serves as a delegate to the Constitutional Convention in Argentina.

• Minh Douangprachanh

Title: Lead Designer

Role: Design

LinkedIn:

https://www.linkedin.com/in/michel-douang/

Bio: With more than a decade of experience specializing in product design, Minh is a multidisciplinary artist who has always believed art has a language of its own. As a neurodiverse individual, Minh is passionate about helping people and creating sustainable and inclusive solutions. Minh is a Cardano community member for the past 3 years.

• Ehsan Mahmoudi

Title: Lead Developer

Role: Backend/Blockchain/AI Engineering

LinkedIn:

https://linkedin.com/in/ehsan-mahmoudi-611123b8/

Bio: More than 8 years of experience in Python and Machine Learning as well as extensive experience in blockchain development. Ehsan has worked for global startups including Rechat, AEC, and Navaak. Ehsan is a Cardano community member for the past 3 years.

• Sanaz Mahmoudi

Title: Senior Frontend Developer

Role: Frontend Development

LinkedIn: https://www.linkedin.com/in/sanaz-mahmoudi/

Bio: An experienced frontend developer with 7+ years of experience. Sanaz is a Cardano community member for the past 2 years.

• Marjan Arami

Title: Senior Frontend Developer

Role: Frontend Development

Bio: An experienced frontend developer with 10+ years of experience. Marjan is a Cardano community member for the past 2 years.

• Azin Zare

Title: QA Engineer

Role: Quality Assurance

LinkedIn:

https://www.linkedin.com/in/azin-zare-355a27179/

Bio: An experienced QA engineer with 9+ years of experience. Azin is a Cardano community member for the past 3 years.

• Mohammad Balkhani

Title: Software Engineer

Role: Backend and DevOps Engineering

Commitment: Full-time

LinkedIn:

https://www.linkedin.com/in/mohammad-hosein-balkhani/

Bio: An experienced software engineer with 7+ years of experience. Mohammad is a Cardano community member for the past year.

• Raphael Hode

Title: Design Advisor

Role Design Direction

LinkedIn: https://www.linkedin.com/in/raphaelhode/

Bio: Raphael is a Strategic Designer with a passion for social innovation and sustainability. After a few years in advertising agencies in Paris, Raphael moved to Tokyo in 2015 and joined Designit, a global strategic design firm. At Designit Raphael worked on growing a team and helping some of Japan’s most ambitious companies make innovation happen, leading him to endorse a variety of roles across UX design, service design, business design, and strategy.

In parallel, he has been passionately engaging in activities related to sustainability and social innovation: giving talks and workshops, mentoring early-stage social founders, and eventually co-founding a social venture. Today, he spends most of his time working with incredible social entrepreneurs to help them define, design, and launch visionary products that contribute to creating a more sustainable society.

To supplement our core team, we maintain a reserve of skilled freelancers, ready to contribute at short notice. Our talent marketplace, Socious, is a hub for over 8,000 individuals, many of whom could potentially assist in this project, if required.

The trustworthiness in our fund management processes is grounded in our serious adherence to legal and financial compliance. Each transaction conducted is meticulously documented with tangible evidence and audited internally for accuracy. To bolster our commitment to financial transparency, we have established collaborations with external accounting firms that assure compliance. Our Japanese entity works with Tatsumi Accounting Firm, while our Singaporean entity partners with BBCIncorp.

Additionally, we liaise with an external law firm, Enlighten Law Group, to ensure full legal compliance. This meticulous, multilayered approach to fund management reflects our dedication to maintaining high levels of trust and accountability.

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

Milestone 1

Title: Escrow Smart Contracts

Outputs

Milestone 1 has the following outputs (deliverables):

1. Open-source escrow smart contracts for Midnight on GitHub
2. Video walk-through of the code

Acceptance criteria

The deliverables are considered “accepted” when they meet the following criteria.

1. Open-source escrow smart contracts are publicly accessible
2. The video walk-through demonstrates that the following actions can be done with the smart contracts
3. User A can deposit funds into the escrow
4. User B can connect their wallet to register the receiving address
5. User A can authorize the release of funds from the escrow
6. User B can receive the released funds

Evidence of Milestone completion

1. GitHub repository URL containing the open-source escrow smart contracts.
2. YouTube video URL of the walk-through demonstration.

Expected timeline for the delivery

Month 3

Cost

53,128 ADA

% Completion

27%

Milestone 2

Title: Dispute Resolution Smart Contracts

Outputs

Milestone 2 has the following outputs (deliverables):

1. Open-source dispute resolution smart contracts for Midnight on GitHub
2. Video walk-through of the code

Acceptance criteria

The deliverables are considered “accepted” when they meet the following criteria.

1. Open-source dispute resolution smart contracts are publicly accessible
2. The video walk-through demonstrates that the following actions can be done with the smart contracts
3. Judges can maintain anonymity
4. Three selected judges can cast votes
5. A decision is reached with a 2/3 majority
6. The prevailing party receives the funds released from escrow

Evidence of Milestone completion

1. GitHub repository URL containing the open-source dispute resolution smart contracts.
2. YouTube video URL of the walk-through demonstration.

Expected timeline for the delivery

Month 6

Cost

42,462 ADA

% Completion

48%

Milestone 3

Title: Crowdfunding

Outputs

Milestone 3 has the following outputs (deliverables):

1. Open-source crowdfunding smart contracts for Midnight on GitHub
2. Video walk-through of the code

Acceptance criteria

The deliverables are considered “accepted” when they meet the following criteria.

1. Open-source crowdfunding smart contracts are publicly accessible
2. The video walk-through demonstrates that the following actions can be done with the smart contracts
3. Users can connect their wallets
4. Users can select a project and contribute tokens
5. The crowdfunding platform deducts a fee
6. Project owners can link a wallet to receive funds
7. Projects receive donations minus the platform fee

Evidence of Milestone completion

1. GitHub repository URL containing the open-source crowdfunding smart contracts.
2. YouTube video URL of the walk-through demonstration.

Expected timeline for the delivery

Month 9

Cost

50,667 ADA

% Completion

73%

Milestone 4

Title: Documentation and Website

Outputs

Milestone 4 includes the following key outputs / deliverables:

1. Comprehensive documentation detailing all steps and tutorials for using the smart contracts
2. Website hosting in-depth tutorials, example projects, and customizable templates

Acceptance criteria

The deliverables are considered “accepted” when they meet the following criteria.

1. Documentation will include explanations on the following smart contracts
2. Escrow smart contracts
3. Dispute resolution smart contracts
4. Crowdfunding smart contracts
5. Website will be
6. Publicly available
7. Include smart contracts used in actual projects

Evidence of Milestone completion

1. Documentation will be accessible via a publicly available Notion link.
2. Website will be publicly accessible via a provided link.

Expected timeline for the delivery

Month 11

Cost

31,495 ADA

% Completion

89%

Final Milestone

Title: Close-out report and close-out video

Outputs

Final Milestone involves the following key activities:

• Draft a project close-out report
• Record a close-out video

These steps will produce the following deliverables:

• a close-out report
• a close-out video

Acceptance criteria

The following items are publicly available for the community to review.

• Project close-out report
• Project close-out video

Evidence of Milestone completion

• Community members can access and review the project close-out report.
• The project close-out video is published on Youtube for the community to review.

Expected timeline for the delivery

Month 12

Cost

21,949 ADA

% Completion

100%

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

Our team is aptly suited and equipped to successfully deliver this project. We possess the requisite capabilities that uniquely position us to execute this project to high standards of trust and accountability.

Socious is a fast-growing impact startup that provides a talent marketplace, making impact work accessible and transparent. We connect purpose-driven professionals with impact organizations through AI matching. We use blockchain to trace impact work and reward contributions.

Socious is supported by 500Global, Microsoft, and Milkomeda Foundation. Our platform lists over 80k jobs, 24k organizations, and has 8k registered users. Our team consists of experts in impact measurement, finance, data science, and blockchain development.

We have 10 full-time members and 20+ part-time contributors. Our team members include:

• Seira Yun

Title: Founder and CEO

Role: Product Ownership, Project Management, Research

Linkedin:

https://www.linkedin.com/in/seirayun/

Bio:

Seira Yun is a Cardano Ambassador and an ICC member. He is a serial impact entrepreneur and an impact angel investor with years of experience in the impact sector, leading teams within the ICRC, UNHCR, and social ventures. As a full-stack developer with a Master's degree in Social Innovation from the University of Cambridge, Seira enjoys blending technology with purpose. Upon exiting his first social venture in 2021, he founded Socious, a decentralized talent marketplace that uses blockchain for verified certificates and AI for matching individuals to meaningful jobs, eliminating background checks and fostering social and environmental change. He is also a board member at TELL, a suicide prevention non-profit. When not working, you can find Seira shooting hoops, running, reading, and spending quality time with his kids.

• Elaine Cardenas

Title: Head of Product

Role: Blockchain Development, Product Management.

Bio:

Elaine has been coding in Haskell and other functional programming languages for the past 7 years and building on the Cardano blockchain for the past 3 years. Prior to joining Socious, she worked for Sundae Labs, contributing to the SundaeSwap V3 implementation and Hydra development. She also worked at Obsidian, an IT consulting company, where she helped Starbucks with its loyalty points system. Elaine is an active Cardano community member and serves as a delegate to the Constitutional Convention in Argentina.

• Chrisanne Yee

Title: Founder’s Associate

Role: Project Management Assistant, Admin and Finance.

LinkedIn: https://www.linkedin.com/in/chrisanneyee/

Bio:

Chrisanne is trilingual in English, Chinese and Japanese. She has experience with marketing and business development. Chrisanne is an active Cardano community member and serves as an alternate to the Constitutional Convention in Argentina.

• Taichi Yokoyama

Role: Communication and Marketing

LinkedIn: https://www.linkedin.com/in/mryokoyama/

Bio:

Taichi is an entrepreneur and a Cardano Stake Pool Operator (AIRX). Taichi is an active Cardano community member and serves as a delegate to the Constitutional Convention in Argentina.

• Minh Douangprachanh

Title: Lead Designer

Role: Design

LinkedIn:

https://www.linkedin.com/in/michel-douang/

Bio: With more than a decade of experience specializing in product design, Minh is a multidisciplinary artist who has always believed art has a language of its own. As a neurodiverse individual, Minh is passionate about helping people and creating sustainable and inclusive solutions. Minh is a Cardano community member for the past 3 years.

• Ehsan Mahmoudi

Title: Lead Developer

Role: Backend/Blockchain/AI Engineering

LinkedIn:

https://linkedin.com/in/ehsan-mahmoudi-611123b8/

Bio: More than 8 years of experience in Python and Machine Learning as well as extensive experience in blockchain development. Ehsan has worked for global startups including Rechat, AEC, and Navaak. Ehsan is a Cardano community member for the past 3 years.

• Sanaz Mahmoudi

Title: Senior Frontend Developer

Role: Frontend Development

LinkedIn: https://www.linkedin.com/in/sanaz-mahmoudi/

Bio: An experienced frontend developer with 7+ years of experience. Sanaz is a Cardano community member for the past 2 years.

• Marjan Arami

Title: Senior Frontend Developer

Role: Frontend Development

Bio: An experienced frontend developer with 10+ years of experience. Marjan is a Cardano community member for the past 2 years.

• Azin Zare

Title: QA Engineer

Role: Quality Assurance

LinkedIn:

https://www.linkedin.com/in/azin-zare-355a27179/

Bio: An experienced QA engineer with 9+ years of experience. Azin is a Cardano community member for the past 3 years.

• Mohammad Balkhani

Title: Software Engineer

Role: Backend and DevOps Engineering

Commitment: Full-time

LinkedIn:

https://www.linkedin.com/in/mohammad-hosein-balkhani/

Bio: An experienced software engineer with 7+ years of experience. Mohammad is a Cardano community member for the past year.

• Raphael Hode

Title: Design Advisor

Role Design Direction

LinkedIn: https://www.linkedin.com/in/raphaelhode/

Bio: Raphael is a Strategic Designer with a passion for social innovation and sustainability. After a few years in advertising agencies in Paris, Raphael moved to Tokyo in 2015 and joined Designit, a global strategic design firm. At Designit Raphael worked on growing a team and helping some of Japan’s most ambitious companies make innovation happen, leading him to endorse a variety of roles across UX design, service design, business design, and strategy.

In parallel, he has been passionately engaging in activities related to sustainability and social innovation: giving talks and workshops, mentoring early-stage social founders, and eventually co-founding a social venture. Today, he spends most of his time working with incredible social entrepreneurs to help them define, design, and launch visionary products that contribute to creating a more sustainable society.

To supplement our core team, we maintain a reserve of skilled freelancers, ready to contribute at short notice. Our talent marketplace, Socious, is a hub for over 8,000 individuals, many of whom could potentially assist in this project, if required.

The trustworthiness in our fund management processes is grounded in our serious adherence to legal and financial compliance. Each transaction conducted is meticulously documented with tangible evidence and audited internally for accuracy. To bolster our commitment to financial transparency, we have established collaborations with external accounting firms that assure compliance. Our Japanese entity works with Tatsumi Accounting Firm, while our Singaporean entity partners with BBCIncorp.

Additionally, we liaise with an external law firm, Enlighten Law Group, to ensure full legal compliance. This meticulous, multilayered approach to fund management reflects our dedication to maintaining high levels of trust and accountability.

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

Please find below a detailed breakdown of our budget, including the number of people and hours allocated to each task. We have calculated the cost at $40 per person per hour. The base conversion rate for ADA-USD is 0.39.

Executive summary:

Total Cost: 200,000 ADA

Milestone 1: 53,128 ADA

Milestone 2: 42,462 ADA

Milestone 3: 50,667 ADA

Milestone 4: 31,795 ADA

Final Milestone: 21,949 ADA

Please find the details of the breakdown here:

https://docs.google.com/spreadsheets/d/1luBGk7_PCmk3d5JbG0zVX4RENdL2a1mIA1EopWKueVU/edit?usp=sharing

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

The cost of this project represents excellent value for money for the Cardano ecosystem for several reasons:

• High-quality, open-source resources: The project will deliver a comprehensive, professionally developed smart contract library that will be freely available to all Midnight developers, accelerating ecosystem growth.
• Expertise and experience: Our team comprises highly skilled professionals with extensive experience in blockchain development, particularly within the Cardano ecosystem. This expertise ensures efficient development and high-quality outputs.
• Cost-effective rates: Our hourly rate of $40 is competitive for blockchain development, especially considering the specialized skills required for Midnight. This rate is below average for similar expertise in major tech hubs, offering good value. The average salaries of product designers ($72 per hour), developers ($68 per hour), and product managers ($65 per hour) are quite high. (See here for more details.) This shows our conscious effort to manage costs effectively while still delivering quality results. The transparency in our budget breakdown, based on previous project experiences, further supports the notion of cost-effectiveness.
• Long-term ecosystem benefits: By providing a robust foundation for smart contract development on Midnight, this project will foster innovation, improve security, and reduce development costs across the ecosystem.
• Educational resources: The included documentation and tutorials will have a multiplier effect, enabling more developers to effectively build on Midnight.

Furthermore, our budget is carefully allocated to maximize impact. We've prioritized core development tasks while also ensuring comprehensive testing, documentation, and community engagement. This balanced approach ensures that the project delivers immediate value while also supporting long-term ecosystem growth.

Lastly, as a team deeply committed to the Cardano ecosystem, we're investing significant additional resources beyond what's covered in this budget. This includes ongoing community support, maintenance, and future enhancements to the library, further increasing the long-term value proposition of this project.