Explorer to Track Cardano Native Asset Movements and Wallet Activity

[GENERAL] Name and surname of main applicant

ADA Markets

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

Entity (Not Incorporated)

[GENERAL] Requested funds in ada

110000

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

5

[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 build an explorer that tracks native asset movements between wallets, highlighting transaction patterns and providing insights into asset distribution from a single address

[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?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

Maybe some aspects of it at a later date

[METADATA] Horizons

Analytics

[SOLUTION] Please describe your proposed solution

Problem We Are Solving

Tracking native assets on Cardano is difficult, particularly when trying to follow how these assets move between wallets. Unlike ADA, there is no easy way to monitor the movement of native assets between addresses, making it hard to trace large-scale buying or selling patterns. Some users take advantage of this by sending the same native asset to multiple wallets to obscure their activity. This lack of transparency poses challenges for anyone wanting to analyse asset distribution or track the behaviour of major holders.

Why We Are Approaching it This Way

We propose building a Cardano Native Asset Explorer and Wallet Tracker to solve this issue. By focusing on native assets and their movements across wallets, we aim to provide a tool that tracks transaction patterns and highlights asset distribution from a single wallet to multiple others. This will give users more visibility into the flow of assets on the blockchain, making it easier to detect patterns such as a single entity selling or buying large quantities of a native asset.

Our approach leverages our experience in building blockchain explorers, and we will expand upon existing infrastructure to focus on this specific need within the Cardano ecosystem.

Who Will Benefit

• Traders and Investors: They will gain insights into large movements of native assets, helping them make informed decisions by detecting potential market-moving transactions.
• Project Developers: Projects issuing native assets will benefit from increased transparency around how their tokens are moving in the market.
• Researchers and Analysts: This tool will provide deeper insight into the movement of native assets across the blockchain, enabling more sophisticated analysis of user behaviour and transaction patterns.

Demonstrating Impact

We will measure our impact by tracking:

• The number of users accessing the explorer and using its native asset tracking features.
• Feedback from the community on how useful the explorer is in uncovering transaction patterns and enhancing transparency.

What Makes Our Solution Unique

While several explorers track ADA movement, their main focus is on ADA and few focus specifically on native assets. Our solution will be unique in offering a tool dedicated to following native asset movements between wallets, providing a detailed view of how assets are distributed and traded. The ability to see these patterns will bring transparency and insights that are currently difficult to obtain, ultimately benefiting the entire Cardano ecosystem by fostering trust and clarity.

By making asset movements more transparent, our tool will help users spot trends, detect suspicious patterns, and understand market dynamics more clearly, thereby enhancing the overall health and maturity of Cardano’s DeFi space.

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

Positive Impact on the Cardano Ecosystem

Our Cardano Native Asset Explorer and Wallet Tracker will enhance transparency and provide valuable insights into the movement of native assets across wallets. This will directly benefit traders, developers, and analysts by making it easier to track the flow of assets, uncover patterns, and understand market dynamics. The improved visibility will contribute to a healthier, more transparent Cardano ecosystem, fostering trust in the network.

By tracking large-scale transactions and wallet activity, users can detect market signals that may indicate significant buying or selling activity, enabling them to make informed decisions. This is especially important as native assets become more integral to Cardano’s DeFi and NFT ecosystems.

Measuring Impact

We will measure the success and impact of our project using the following metrics:

• User engagement: The number of active users accessing the explorer and utilizing the wallet tracking features.
• Transaction insights: The number of tracked transactions and wallets, specifically native assets, to assess the depth of analysis.
• Community feedback: We will collect feedback from traders, developers, and researchers to understand how effectively the explorer is meeting their needs.

[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?

Capability & Feasibility

We have already demonstrated our technical expertise by building the DEX aggregator app.ada.markets, which allows users to trade across Cardano DEXs from a single platform. This aggregator integrates directly with DEX contracts and tracks liquidity pools, proving our ability to work with complex blockchain systems and manage on-chain data interactions. Our experience in building advanced data-tracking solutions highlights the technical capabilities required to deliver this Cardano Native Asset Explorer and Wallet Tracker.

Additionally, we’ve developed a custom chain indexer that tracks DEX orders and liquidity pools. This existing infrastructure will be expanded to track native asset movements between wallets, allowing us to efficiently capture real-time data on asset transactions. Leveraging this proven infrastructure ensures that our approach is both feasible and scalable.

Trust & Accountability

Our team has successfully managed and delivered functional platforms like ADA Markets without external funding, demonstrating that we can manage resources responsibly and deliver high-quality products on time. We will ensure transparency and accountability throughout the project by providing regular updates to the Cardano community, detailed budget reporting, and open-source access to the explorer’s code. This level of transparency will allow community members to validate our work, ensuring the project remains open and trustworthy.

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

Milestone 1: Research and Specification Development

Milestone Outputs

• Research the requirements for tracking native assets and wallet movements.
• Create a detailed specification document outlining the explorer’s functionality, including the key features such as tracking native assets across wallets and identifying patterns in asset distribution.

Acceptance Criteria

• Completion of the specification document, including a clear plan for integrating with Cardano’s blockchain data.

Evidence of Milestone Completion

• Submission of the completed specification document.

Milestone 2: Chain Indexer to Track Native Assets Movement and link Wallet

Milestone Outputs

• Create chain indexer to specifically track native asset movements between wallets.

Acceptance Criteria

• The indexer is fully capable of tracking native assets and providing insights on wallet distribution.

Evidence of Milestone Completion

• Screenshots or a video demo showing the indexer tracking native asset transactions.

Milestone 3: Build User Interface and API Integration

Milestone Outputs

• Develop the user interface for the explorer, allowing users to search addresses and track native asset movement from that wallet.
• Integrate the indexer with the front-end via an API, enabling real-time data display on wallet movements and asset tracking.

Acceptance Criteria

• Fully functional interface displaying real-time data for native asset transactions between wallets.

Evidence of Milestone Completion

• A working prototype of the user interface and a video demonstration of real-time tracking and data visualization.

Beta Testing, Bug Fixes, and Public Launch

Milestone Outputs

• Conduct beta testing with community members to identify any issues.
• Fix bugs and optimize the explorer for public use.
• Officially launch the explorer, making it available to the public.

Acceptance Criteria

• The explorer is live and accessible to the public, with feedback from beta testing implemented.

Evidence of Milestone Completion

• Public access to the explorer with an official launch announcement.
• Final report and closing video

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

The main team for this project consists of:

Paddy – Principal Engineer

With over 15 years of experience in engineering and architecture, Paddy is the lead engineer for this project. He has been a Cardano Stake Pool Operator (SPO) since 2021 and has contributed to several notable Cardano projects, including PoolPeek and ADA Markets. Paddy will oversee the technical development, focusing on the platform’s architecture and integration with Cardano DEXs. Twitter

Paul – Cardano Educator & SPO

Paul has been an SPO since 2021 and runs a popular YouTube channel focused on educating the community about Cardano and its projects. He is part of the ADA Markets DEX Aggregator team focusing on front end dev and will also lead community engagement, user onboarding, and outreach ensuring the platform meets the needs of the wider Cardano ecosystem. - Twitter

Konst - backend dev that will build the database architecture and api layer for this proposal

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

Milestone Breakdown

Milestone 1: Research and Specification Development

• Budget: 30,000 ADA
• Conducting research, defining the technical requirements, and creating the spec document.

Milestone 2: Enhancing Chain Indexer to Track Native Assets

• Budget: 30,000 ADA
• Building chain indexer to track native asset transactions between wallets.

Milestone 3: Build User Interface and API Integration

• Budget: 30,000 ADA
• Developing the front-end interface and integrating the indexer to display real-time data for users.

Milestone 4: Beta Testing, Bug Fixes, and Public Launch

• Budget: 20,000 ADA
• Conducting beta testing, fixing bugs, and optimizing the platform for public release.

Overall Cost Breakdown

Infrastructure: 15,000 ADA

• Hosting, server costs, and cloud infrastructure to support real-time data tracking and analysis

Backend and Frontend Development: 65,000 ADA

• Enhancing the chain indexer, building the API, and developing the front-end interface.

Testing and Optimization: 10,000 ADA

• Beta testing, bug fixes, and optimization to ensure smooth performance upon launch.

Documentation & Tutorials: 10,000 ADA

• Creating comprehensive user documentation, guides, and tutorials to help users understand and navigate the platform.

Project Management & Reporting: 5,000 ADA

• Managing the project, overseeing progress, and providing regular updates and reports to the community.

Contingency: 5,000 ADA

• Reserve for any unforeseen costs or ADA price fluctuations.

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

The 110,000 ADA budget for the Cardano Native Asset Explorer and Wallet Tracker represents strong value for the ecosystem by promoting transparency in native asset movements. By providing users with a tool to track large-scale transactions and asset distribution patterns, we enhance market visibility and improve decision-making for traders, developers, and analysts.

Our costs align with standard rates for blockchain development, with infrastructure, development, and testing all accounted for. This transparency will foster trust and security, making the investment beneficial for the entire Cardano ecosystem.