Lockpod: Decentralized Self-Custodial Wallet for Multi-Chain Asset Management

[GENERAL] Name and surname of main applicant

Victor Pérez

[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

125000

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

7

[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 Lockpod, a decentralized P2P wallet network that secures and manages digital assets across blockchains without users needing to handle private keys or rely on centralized entities.

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

Yes

[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.”

Lockpod depends on partnerships with blockchain networks for integration and functionality, requiring technical support and collaboration with these platforms. Additionally, third-party libraries and APIs are essential for features like wallet connectivity and user authentication. We have the necessary licenses for these tools, but delays in receiving support or updates from these external sources could impact our project timeline.

[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

N/A

[METADATA] Horizons

Wallet

[SOLUTION] Please describe your proposed solution

Lockpod proposes a decentralized peer-to-peer self-custodial wallet network that simplifies digital asset management across multiple blockchains, directly addressing the complexity and fragmentation users face in the current crypto landscape. By providing a seamless and secure interface, Lockpod empowers users to maintain control over their assets while ensuring privacy and security through advanced cryptographic techniques. Our approach focuses on user experience, allowing for an intuitive onboarding process that caters to both new and experienced users. We will engage a diverse community, including crypto enthusiasts, developers, and everyday users, to co-create features that resonate with their needs. The impact will be demonstrated through user adoption metrics, feedback loops, and ongoing community engagement, which will guide iterative improvements. Our solution is unique due to its emphasis on cross-chain compatibility and user autonomy, distinguishing it from existing custodial and semi-custodial wallets. By fostering a self-custodial environment, we contribute to the overarching mission of decentralization in the Cardano ecosystem, reinforcing user trust and security. This is crucial for attracting mainstream users and ensuring sustainable growth in the blockchain space. Ultimately, Lockpod not only enhances the user experience but also aligns with Cardano's vision of empowering individuals and promoting financial sovereignty.

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

Lockpod aims to create a significant positive impact on the wider Cardano community by simplifying digital asset management and promoting user empowerment through self-custody. By providing an intuitive, secure wallet solution, we will enhance user engagement and foster broader adoption of blockchain technology. Our success will be measured through quantitative metrics such as the number of active users, transaction volumes, and cross-chain integrations, as well as qualitative feedback from user surveys and community discussions. We will establish partnerships with local crypto communities and engage users via social media platforms to gather insights and feedback. Our findings and outputs will be shared transparently through regular updates on community forums, webinars, and collaborative events to showcase user experiences and improvements made based on community input. Additionally, we plan to publish reports detailing the wallet's usage patterns and user testimonials, demonstrating Lockpod's contribution to Cardano's mission of decentralization and financial sovereignty. By empowering users and ensuring their digital asset security, Lockpod not only enhances individual experiences but also strengthens the overall ecosystem, encouraging new projects and innovations within the Cardano community.

[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 possesses a strong blend of expertise in blockchain technology, software development, and user experience design, which uniquely positions us to successfully deliver Lockpod. With a proven track record in building secure, user-friendly applications, our members have previously worked on several projects in the blockchain space, showcasing their ability to navigate complex challenges. To ensure high levels of trust and accountability, we will implement a structured project management framework, including regular progress updates, budget tracking, and milestone reporting to stakeholders. We intend to validate our approach's feasibility through a phased development plan that incorporates user feedback at each stage, allowing us to adapt our solution based on real-world needs. Our commitment to transparency will be reflected in detailed documentation of our financial management processes, including budget breakdowns and expenditure reports. Additionally, we will establish a community advisory board to oversee project progress and provide input, ensuring our approach aligns with the community's needs and expectations. By fostering an open dialogue with our users and stakeholders, we aim to build a foundation of trust that will facilitate the successful delivery of Lockpod while maintaining accountability for all funding and resources.

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

Milestone 1 : Integration of Lockpod onto Cardano

• Objective: Successfully integrate Lockpod onto the Cardano blockchain.
• Planned Activities: Collaborate with blockchain engineers to ensure compatibility and functionality; conduct thorough testing; finalize documentation.
• Expected Duration: 1 month.
• Budget Allocation: 12,500 ADA

Milestone 2: Token Generation Event (TGE) and DEX Listing

• Objective: Launch the $LPOD token through a TGE and list it on decentralized exchanges (DEX).
• Planned Activities: Execute marketing campaigns for awareness; coordinate with DEX platforms for listing; ensure liquidity is established.
• Expected Duration: 2 months.
• Budget Allocation: 22,500 ADA.

Milestone 3: CEX Listing and User Growth

• Objective: Achieve listing on a centralized exchange (CEX) and grow to 25,000 total active users, with 10% of $LPODs locked.
• Planned Activities: Develop partnerships with CEX; implement user acquisition strategies; monitor user engagement and locking percentage.
• Expected Duration: 3 months.
• Budget Allocation: 45,000 ADA.

Final Milestone: Tier 1 CEX Listing and Active Users Expansion

• Objective: Secure a Tier 1 CEX listing and expand to 100,000 total active users, with 20% of $LPODs locked.
• Planned Activities: Enhance marketing efforts; engage in community outreach; analyze user feedback to improve services.
• Expected Duration: 4 months.
• Budget Allocation: 45,000 ADA

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

Victor Pérez - Founder & CEO - https://www.linkedin.com/in/victor-perez-1431b2242/

Juanjo Chust - CTO - https://www.linkedin.com/in/jchust/

Nelson Marco - CIO - https://www.linkedin.com/in/nelson208/

Uriel Gonzalez - CFO - https://www.linkedin.com/in/uriel-gonzalez-305883205/

Uriel Gonzalez brings extensive experience to the team. He has been an economics professor, an auditor at PwC, Director of Compliance, Internal Audit, and Internal Control, and now operates his own consulting firm.

Carlos Velasco - CTO from Byevolution- https://www.linkedin.com/in/carlos-velasco-blanco-36b35314/

Reika Ezure - UX/UI - https://www.linkedin.com/in/reika-ezure-b59718b7/

Corentin Cadieu - Web 3 Advisor & Serial Entrepreneur -

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

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

1.Integration of Lockpod onto Cardano (12,500 ADA)

• Resources Needed:
• Blockchain Engineers (Contractors): 6,000 ADA
• Testing Tools and Software Licenses: 2,500 ADA
• Documentation and Reporting Tools: 1,500 ADA
• Project Management Tools: 2,500 ADA
• 
  

2. Token Generation Event (TGE) and DEX Listing (22,500 ADA)

• Resources Needed:
• Marketing Campaigns (Digital Marketing & PR): 8,000 ADA
• Legal Services (Compliance for Token Launch): 5,000 ADA
• DEX Listing Fees: 4,000 ADA
• Liquidity Provisioning: 5,500 ADA (for initial liquidity)
• 
  

3. CEX Listing and User Growth (45,000 ADA)

• Resources Needed:
• CEX Listing Fees: 15,000 ADA (average listing cost for a centralized exchange)
• User Acquisition Strategies (Incentives, Promotions): 10,000 ADA
• Community Engagement Activities (Events, Meetups): 5,000 ADA
• Auditing Services (Smart Contract Audit): 7,000 ADA
• Ongoing Marketing Campaigns: 8,000 ADA
• 
  

4. Tier 1 CEX Listing and Active Users Expansion (45,000 ADA)

• Resources Needed:
• Tier 1 CEX Listing Fees: 20,000 ADA
• Enhanced Marketing Efforts: 10,000 ADA
• User Feedback Analysis and Improvement Services: 5,000 ADA
• Additional Community Outreach and Engagement: 5,000 ADA
• Reporting Tools and Documentation: 5,000 ADA

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

The costs associated with the Lockpod project represent significant value for the Cardano ecosystem by strategically allocating resources to maximize user adoption and enhance security for managing digital assets across multiple blockchains. Each budget item is carefully considered, with expenses for blockchain engineers and auditors reflecting industry standards, as freelance rates in this field typically range from 60 to 150 ADA per hour. Additionally, the marketing budget is designed to attract a projected 100,000 active users by the project's completion, fostering community engagement that increases transaction volume on Cardano. Investing in legal services also mitigates regulatory risks, ensuring compliance and protecting both Lockpod and the Cardano network. By prioritizing liquidity provisioning and exchange listings, the project aims to build a robust ecosystem that enhances the overall utility of Cardano's technology. Furthermore, funds allocated for community outreach and engagement are essential for cultivating a strong user base, reinforcing trust within the ecosystem. The long-term benefits, including increased market presence and enhanced user trust, far outweigh the initial costs. Overall, Lockpod exemplifies a strategic investment that promises substantial returns for the Cardano community while adhering to responsible financial practices. This commitment to delivering value ensures that the project's expenditures contribute meaningfully to the ecosystem's growth and sustainability.