Tongue Swap: A Language Exchange App & DAO

[GENERAL] Name and surname of main applicant

Eric Helms

[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)

4

[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)

An app that connects people who want to practice a new language. If you speak X and want to learn Y it will match you with someone who speaks Y and wants to learn X and assist in setting up a chat.

[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

I am a big fan of open source and previously, everything I have produced for the Cardano Community has been open source. However we want to make this product a success so while getting it off the ground, we may not open source it. All materials we produce such as language guides, homework, study guides, etc will all be open source and free for the Cardano Community to use in any way they like.

[METADATA] Horizons

DAO

[SOLUTION] Please describe your proposed solution

Tongue Swap is a web app and Cardano DAO that connects people who are interested in practicing a language with native speakers. There are many of us who are currently learning a new language but do not have many opportunities to practice. Either because they are not currently in a country that widely speaks the language we are practicing or perhaps they are shy and do not like to strike up conversations with strangers. That is where Tongue Swap becomes a valuable service. 

If you speak English and want to learn Spanish it will match you with someone who speaks Spanish and wants to learn English. The system will match you and assist you in scheduling a video chat where you speak 1 language for the first half and the other language for the second half. A list of questions and talking points is provided to guide the conversation and keep things interesting. If you and your match enjoy the conversation and would like to keep going that is great, keep scheduling time together to practice your languages. If you did not feel like it was a great experience no problem at all. Go back to the app and keep matching until you find the perfect practice partner. Or practice with a new person every time, whatever your preference is. 

Learning a new language is difficult. Its something that requires daily effort. But memorizing words and phrases, learning grammar rules, and watching TV in your new language isn’t sufficient. To truly excel and become successful in your language journey you must PRACTICE SPEAKING. There is just no way around this. I can tell you from my personal experience that my language learning did not really begin to take off until I started having regular speaking lessons. After a month or so of this it was like a light switch turned on and I could finally start speaking comfortably. And while these lessons to practice speaking are extremely helpful, they also cost about 6 dollars each for the most affordable options. 3 times a week and this starts to add up. This is what sparked the idea to launch this service so that our community can practice and learn while helping each other. 

The only way to access the App is by holding a Cardano NFT which also grants membership into the DAO. This is a community of people who are passionate about learning and practicing other languages, learning new cultures, and traveling and exploring the world. 

V1 Minimum Viable Product (MVP) 

The first version that we are trying to fund through Project Catalyst will contain the following features and functionality. 

Account Creation

You will be able to create your own account with an email and your Cardano wallet (the email is used for notifications). This is the first step to connecting with other language learners. 

Setup Profile

In order to get matched correctly, you must fill out your profile information. It is just a few basic questions so we understand which people to match you with and which times would work the best.

Receive Matches

The app will then match you with someone who matches the same criteria that you do. If you are an English Speaker who wants to learn Spanish, it will match you with a Spanish speaker who wants to learn English. The reason for this is the native speaker can help correct you if you need it and listening to native speakers is priceless during the learning process. And since you are both learning a new language together, there is not the normal embarrassment that comes with practicing with total strangers in everyday situations. You are both in the same boat, no need for embarrassment. An email will be sent to both of the email addresses that you have provided with a prompt for you to schedule your meeting within the timeframe you entered. The learners will then schedule a Google/Zoom Meeting and start practicing your language with a native speaker. 

Create Weekly Schedule

The app will create a weekly schedule off times available for your matches. Time zone will be auto-converted to your time zone to make everything clear. This will allow users to schedule times more easily. 

Zoom/Google Meets Integration

Once you have scheduled your language session, the system will automatically create a zoom meeting invitation and send it to both you and your matches email. 

Send Messages Between Matches

Users will be able to send text messages between their matches. This can be done to help with reading and writing in your native language or also to help coordinate for practice sessions. 

Send and Receive Voice Memos

Can be used for quick daily practice, coordinating meetings, etc. 

Professionally Prepared Content

We will have content for the participants to utilize during their practice sessions to help guide it and make it as effective as possible. Participants will not be expected to just chat and discuss their days. There are guiding questions to get you thinking and speaking in your new language in ways you might not have thought of normally. These will be created by a professional language teacher with several years of experience and hundreds of different lessons taught. 

How the Practice Sessions Run

Each practice session is scheduled for 30 minutes, although both participants can do it for longer or shorter if they prefer. Half the session will be held in the first language and half the meeting will be held in the second language. Included in the email that scheduled the meeting will be a guide for running an effective and educational meeting. It will include basic ice breaker information, guided questions, tips for how to help or correct your language partner, and fun games or exercises that you can play to help perfect aspects of the language. These have all been created by an expert language teacher with years of experience and thousands of successful online language classes taught. 

Few things to note:

• There is zero expectation to turn your camera on during the meeting. If you both want to that is fine as it can improve the conversation, but there is zero expectation or pressure from either side.
• We recommend that you give no personal details during the conversations. You can use a pseudonym instead of your real name, say your country but not specify your specific address or even city.
• If you enjoyed the session you can continue to schedule language practice sessions together.
• If you did not enjoy the session or thought it was not a good match, that is OK. Different people have different styles. Go back to the app and try to match again with someone new. There is no pressure or expectation to keep matching.
• This is not a dating site. You are here to practice languages.

V1 Spanish Language Only

The V1 Minimum Viable Product (MVP) will be for English/Spanish only. These are two of the most spoken languages in the world, so that is our focus for the first version to keep things simple but still make a large impact. According to Busuu there are 1.13 Billion English speakers and 534 million Spanish speakers in the world. 

English being the most spoken language in the world, there is a large demand to learn and practice this language. Again according to Busuu, Twenty-two countries over four continents have Spanish as one of their official languages, and it’s already the second most studied language in the world. And that within three generations, 10 percent of the world’s population will be able to communicate in Spanish. So with English and Spanish being the top two studied languages in the world, it is a clear choice for the V1 MVP.

One of our team members has been teaching Spanish for years and is developing the course work and conversation prompts that will guide the participants and ensure they are able to maximize their time and get as much benefit from the process as possible. Once this has been mastered for English/Spanish, she will begin expanding the course work to other popular languages. 

Marketing

We want this product to be a success and bring tons of new users to Cardano. And to do this, we cannot simply rely on the current Cardano Community to use this or spread it by word of mouth. We need to actively promote it outside of our normal channel and reach people who are not currently involved in Cardano or crypto. We are reaching a vast market of people who want to practice a new language, and through our service they will end up learning about Cardano. 

To achieve this goal, we plan to advertise on popular social media channels such as Instagram, Youtube, Tik Tok, or Facebook. All advertisements will show our product but also make it clear that this is a Cardano product. So every dollar we spend on advertises helps our product, but it will also help put Cardano in front of thousands of new people who might not have been aware of it otherwise. Killing two birds with one stone. In addition there will be educational articles posted on Medium about the product and how to use it, tips for a better experience, explanations of its usefulness, and things of that nature. And of course posts from our own Twitter account and to the Cardano Reddit account. 

Access

LifeTime NFT Access: We submitted this proposal in the last round with some options that would include paid subscription access, and there was feedback that it is not enough of a “Cardano” product. So based on that feedback we have removed that option.

The only way to access the app and participate in the DAO will be to purchase a Cardano NFT that will grant lifetime access to the application and to all features. An additional benefit is we will have learning materials created that people can work on in there free time that help them learn the languages. Similar to exercises or homework that can help you along your path to language learning. These would be stored in a token gated folder that you can only access if you hold the NFT.

The DAO

The purpose of the DAO is to be a community that promotes language learning and helps its members on the path to fluency in a new language. It provides a group of likeminded people who can help each other learn without embarrassment. The goal is for the DAO to evolve into an international group that promotes and sponsors global meet ups and trips/excursions for its members. Learning new languages is great, but its nice to be able to put what you learned into action. So we plan to launch a service for its members that provides the option for affordable and fun global excursions and trips. 

One of the key components of this organization is a travel club that holding that NFT grants you access to. Please note, this is information so you understand our long term plans. This Catalyst proposal is to cover the creation of the language app which is the first step. After than, we will begin work on this next part. Many people in this world love the idea of travel and visiting new and exotic locations. However many people lack the ability or desire to plan the trip of their dreams and many more lack the group of friends to do it with. Speaking from experience, travel is fun but having the right group of people to enjoy and experience it with makes all the difference.

 

Well that is what we are offering here. An DAO that will plan out comprehensive trips and adventures around the world. That can utilize their experience, expertise, and bulk pricing to organize them for cheaper than most people could do themselves. And experiencing it with the community of friends that you have been chatting with in social media. If you have collected NFTs before, you are already aware of the strong communities that form around them. Well now imagine taking the trip of a lifetime with these friends in a location you have already dreamed of. That is what we are offering.

 

Holding the NFT gives you access to these trips. If you hold the NFT, you can put your name on the waiting list as soon as a new trip pops up that you are interested in participating in. Space is limited, so each NFT will allow someone to take 1 trip per Calendar year. And each trip will only be able to accommodate 20-40 people, so it will be on a first come, first serve basis. But again, only holders of the NFT will be able to participate in these.

Governance

We are operating in the real world, but are powered by blockchain technology and can utilize its benefits. One of those being easy and straightforward governance. If you hold the NFT, you are in the club and can help direct where we go and what we do. Have always wanted to visit the beaches of Indonesia or see the sights of Europe. Participate in governance and have a voice in where we plan our future trips, what kind of activities or events you would like to see included, what types of lodging or food options you would be interested in, and many more.

Example Trip

 

We have prepared a sample itineraries to give you an idea of the types of adventures we will be planning, the types of activities you could expect, and estimates of what something like this might cost.

 

Note 1: Please note that these prices are for a trip planned in August 2023 for travel in November 2023. Prices can change from when we planned this trip to a future date when you are reading this paper.

 

Note 2: For all trips, you will be responsible to book your own arrival and departure flight. Don’t worry, we are here to assist you with finding the best deals and options. But you will be responsible for booking it yourself.

 

Trip 1 – Discover Colombia

 

Day 1-3: Bogota - 3 Nights

 

 

 

Bogota Is the massive high altitude Capital of Colombia and no trip here would be complete without a visit. As an epicenter of Colombian culture there are several cant miss museums and land marks, delicious Colombian cuisine, and fun outings at night.

 

Hotel: $54 per day, Single occupancy

 

Excursions:

City Tour Including Monseratte Hill

Gold Museum

Salt Cathedral

 

Food: We love street food as much as the next person and it can represent delicious and cheap options to try a countries cuisine. But we also understand that there are elevated risks involved in doing this and a case of food poisoning can ruin a trip. So we have planned a list of delicious and affordable Colombian restaurants for you to enjoy while you are here. The restaurants are included in the cost of the trip, so no worries about trying to divide a check between 20+ people.

 

Day 4-5: Medellin – 2 Nights

 

 

Medellin: The city of eternal spring. Medellin has quickly become the most popular tourist destination in Colombia and is a cant miss for any trip. 

 

Hotel: $63 per day, single occupancy

 

Excursions:

Graffiti tour of Comuna 13

Day trip to Guatape

 

Food:

 

Day 6-7: Santa Marta/Tayrona

 

 

This one is for all the nature lovers out there. After spending the week in the big sprawling cities, escape to the building landscape of the Pacific and come explore Tayrona National Park, Colombia’s most popular park and a well-kept secret to most foreigners.

 

Hotel: $44 per day, single occupancy

 

Excursions:

Discover Scuba Mini Course: Have you ever wanted to try out scuba diving and experience a while new world that lies beneath the surface? If so you are in luck. We will be having an outing where you can give it a try. No worries if you do not have your certification. This is an introductory course that only goes to a maximum depth of xx meters and will teach you everything you know to have a fun and safe experience. If you aren’t up for scuba, you can snorkel instead and stay with the group.

 

Food:

 

Day 8: Return to Bogota

 

This will be the end of the trip. We will all be flying back to Bogota after a week full of fun, adventure, and memories that will last a lifetime. From Bogota you can continue traveling on your own (which we can help you plan) or return back to your home country and get back to the daily grind.

 

Summary

 

We hope this first benefit to holding the NFT and being a member in the DAO has been well evidenced here. To summarize, you obtain access to world class vacations with a group of fun like minded people, for very competitive prices. Most travel agencies have profit in mind where as we are simply running these to cover our costs and provide benefits and utility to our NFT holders and community.

 

Cost Comparison

 

To demonstrate the value of this, we have provided a comparison with Intrepid Travel which is one of the most popular and well known small group travel and adventure companies in the world (https://www.intrepidtravel.com/en)

 

Here is a similar itinerary that Intrepid offers, which is 9 days through Colombia, visiting many similar locations.

 

The main differences to note here are that they only provide you breakfast each day and after that only 2 lunches and 2 dinners. Our itinerary also includes breakfast lunch and dinner for each guest. And perhaps the biggest difference to note is that this itinerary also expects each person to share a room with someone else (see below) or pay and extra 325 dollars. Our itinerary provides each guest with their own room for the cost. If you are traveling with a friend or partner and would like to share a room with them, then the price will be lowered.

 

So as you can see above, for this trip including a private room (note you still must share a room 2 nights during the trip) it will cost you $3,005 dollars, and that is without considering the cost of lunch and dinner for 6 days. Compared to our cost of $1,660 and you can see the type of value that we are offering. How do we accomplish this? With a team of seasoned travelers who are experts in planning trips and finding deals, and by not operating for profit.

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

In what way will the success of your project bring value to the Cardano Community? 

First off, this project will have a positive impact on Cardano by brining in new users. The key to brining in new users is to create useful products that solve real world problems. The average person does not need the most cutting edge DEX because they do not hold any crypto. But as we have already demonstrated, there is a huge number of people who are currently learning languages and are looking for tools to make that easier. By providing and marketing something they can use to achieve that goal, we are bringing them into our ecosystem and they do not even have to be aware of it. Once they are there and using the app they can see its connection to Cardano which can spark further interest in seeing what else this ecosystem has to offer.

And speaking of marketing, we included $12,000 in the marketing budget. This will go to ad campaigns on Instagram or other popular social medias. The adds will advertise our product but will also mention Cardano. We are not building something just for the Cardano ecosystem here (although they can definitely use it). We are building something that your average person has a need for. This is how we bring in new users to Cardano. By targeting people who are not currently into crypto with something that can actually improve their lives. 

Secondly, Cardano is a global community. We have people in hundreds of countries all over the world. Having something like this will strengthen our community, allow us to collaborate and learn together, make new friends, learn about new cultures, and improve our ability to speak a new language.

How will you measure this impact?

Here are some KPIs' that we will use to measure and assess the impact our project has made.

Please note: We are including these KPIs for you to understand what our goals are for this project and the level of impacts we are trying to achieve. But since this is a new product, it is hard to estimate these things accurately. If this gets funded, these are not meant to be included as part of our milestones that we must hit in order to continue funding the project. The milestones that we intend to hit to continue being funded for the project have all been clearly outlined in the Milestone section.

Number of daily/monthly unique visitors: This will be one of the most important metric we use to measure the impact of this project. How many daily/monthly visits we are getting to the app. The higher this number is, the more people are seeing our product and becoming more aware of Cardano. Our goal would be to have over 10,000 per month for the first 6 months.

Number of accounts created: This is another extremely important metric. People visiting the app is important, but them actually making accounts and using it is crucial. Our goal would be to have 100 new accounts created per month for the first 6 months.

Monthly Milestones completed on schedule: As this is a Catalyst Project, we will be completing milestones each month to stay on track. Our goal is to meet every milestone listed on schedule.

How will you share the outputs and opportunities that result from your project?

We plan to share the outputs and opportunities that result from our project on Twitter, Medium, and on the Cardano Reddit. The methods we will use will be Medium articles, Youtube Videos, Tweets, Reddit Posts and anything else that seems appropriate.

[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?

I have been participating in Project Catalyst for over 3 years now (since February 2021). During that time I have been funded for 4 separate proposals in three different rounds (5, 6, 8, & 11). And I am proud to say that 3 of those projects were completed and delivered and 1 is still ongoing and has met every milestone on time. The close out videos are copied below to evidence this. So I would start answering this question by looking at my track record in previous Catalyst rounds to show that I have been delivering on my proposals with high levels of trust and accountability for years now.

In addition to participating in Project Catalyst as a proper, I have also been a Community Advisor (assessing Catalyst proposals and assigning a score) since 2021, I have been a Milestone Reviewer (reviewing and approving Statement of Milestones and Proof of Achievements for funded proposers) Since F10, and am currently participating in the Catalyst Working Groups as a host (event May 22, Please join if you like: https://lu.ma/q69deuq8).

NOTE: If you look us up using the LIDO Nation tool, you will see a few other projects that we are associated with. These are things like the Audit Circle or of Token Vesting Dapp. This is something that one of our team members helped out with and so is included on the proposal but that we do not collect funds from.

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

Milestone 1:

This first Milestone will be getting everything ready to launch and kick off the project. It will involve forming the LLC that will be the legal entity for the project and securing the domain that we will be using for the web application.

Delivery Time: End of Month 1

Milestone Outputs: 

A: Form LLC for project 

B: Purchase Website Domain for project

Acceptance Criteria: 

A: An LLC has been formed in the United States complete with Articles of Organization

B: Web domain for the app has been purchased

Evidence of Completion:  

A: The receipt from the Secretary of State showing the LLC has been filed and paid, and the Articles of Organization for the LLC will be provided using a google doc or google drive. 

B: The receipt for the website domain will be provided using a google doc or google drive. 

Milestone 2:

The second milestone will be the delivery of the main functionality of the app. With this milestone, most of the key features and functionality will be completed and available to test.

Delivery Time: End of Month 2

Milestone Outputs: 

A: Create account

B: Select languages spoken

C: Select languages learning

D: Get a list of people to invite to match

E: Receive matches

F: Send messages between matches

Acceptance Criteria: 

A: A user can create an account

B: A user can select which language they speak

C: A user can select which language they are learning

D: A user can receive a list of people to invite to match

E: A user can receive matches

F: A user can send messages between matches

Evidence of Completion:  

A: A demonstration video showing an account can be created along with the link to the test version will be provided.

B: A demonstration video showing a user can select which language they speak along with the link to the test version will be provided.

C: A demonstration video showing a user can select languages learning along with the link to the test version will be provided.

D: A demonstration video showing a user can get a list of people to invite to match along with the link to the test version will be provided.

E: A demonstration video showing a user can receive matches along with the link to the test version will be provided.

F: A demonstration video showing a user can send messages between matches along with the link to the test version will be provided.

Milestone 3:

The third milestone will be delivering more of the key functionality of the App

Delivery Time: End of Month 3

Milestone Outputs: 

A: Cardano Wallet + pin login

B: Send and receive voice memos

C: Create a weekly schedule of times available, which are auto converted for the other user to see in their time zone, allowing users to schedule times more easily 

Acceptance Criteria: 

A: A user can login to the app with their Cardano Wallet

B: A user can send and receive voice memos

C: The app can create a weekly schedule of times available which are auto converted for the other user to see in their time zone.

Evidence of Completion:  

A: A demonstration video showing a user can login to the app with their Cardano wallet along with the link to the test version will be provided.

B: A demonstration video showing a user can send and receive voice memos along with the link to the test version will be provided.

C: A demonstration video the app can create a weekly schedule of times available which are auto converted for the other user to see in their time zone along with the link to the test version will be provided.

Final Milestone:

The final milestone will be to deliver the completed app, along with the zoom or google meets integration, and submit the final project completion report and video which officially closes out the proposal.

Delivery Time: End of Month 4

Milestone Outputs: 

A: Zoom or Google Meets Integration

B: A final project completion report and video which meets all the Catalyst requirements for time, length, and content.  

Acceptance Criteria: 

A: The app has integrated Zoom or Google Meets to assist in scheduling meetings between matches.

B: The project completion report and video must meet all Catalyst requirements for time, length, and content. 

Evidence of Completion:  

A: A demonstration video showing the application has integrated Zoom or Google meets to help with scheduling meetings between matches along with a link to the rest version will be provided. 

B: A link to the closeout report which is hosted on google docs will be provided along with the URL to the video which will be hosted on YouTube. 

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

Eric Helms - Eric is a Certified Public Accountant who has spent the last 10 years working in Corporate Audit from both the public and private side. He is passionate about blockchain and its ability to make society and business fairer and more transparent for everyone. He has been a Community Advisor (assessing Catalyst proposals and assigning a score) since 2021, a Milestone Reviewer (reviewing and approving Statement of Milestones and Proof of Achievements for funded proposers) Since F10, and is currently participating in the Catalyst Working Groups as a host (event May 22, Please join if you like: https://lu.ma/q69deuq8). He is also the founder of Smart Contract Audit Token, a project that has been active in Cardano since 2021 and was funded in Project Catalyst starting in Fund 5. https://www.linkedin.com/in/eric-helms-cpa-97866a3b/

Oliver - Oliver has a background of working with multinational enterprises finding solutions for their IT needs and automating processes. In his free time, he is an active investor in traditional Stocks & ETFs, and an economics nerd who listens to too many podcasts. https://www.linkedin.com/in/oliver-watts-sydney/

Diana Lizcano - With over five years of dedicated experience in teaching Spanish, Diana has conducted over 3100 private lessons, shaping a dynamic and effective approach to language instruction. Holding a professional background in Marketing and International Business, complemented by a master's degree in Innovation and Business Development, she brings a unique blend of expertise to the realm of education. Her commitment to excellence is evident in my consistently high average review rating of 4.8, reflecting the satisfaction and progress of my students. Her teaching philosophy revolves around empowering learners by addressing their individual needs and filling knowledge gaps, ensuring a personalized and impactful learning journey. Her primary focus remains on motivating students to embrace the Spanish language, fostering a deep understanding of its nuances, cultural richness, and practical applications in today's global landscape.

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

App Development - $15,000 42,857 ADA

Time – 4 months $3,750 per Month

This is this cost to develop the MVP of the app. The MVP will plan to have the following functionality.

• Create account

• Cardano wallet or email used for login/account

• select languages spoken

• select languages learning

• get a list of people to invite to match

• receive matches

• send messages between matches

• send and receive voice memos between matches

• Create a weekly schedule of times available, which are auto converted for the other user to see in their time zone, allowing users to schedule times more easily 

• Zoom/Google Meet integration

Language Guided Materials - $1,500 4,286 ADA

Time – 4 months/16 weeks, 20 hours per week @ 4.68 dollars per hour 

We are not only providing the app to connect language learners. There will also be materials to help facilitate the meetings and guide the conversations, as well as general study materials that can assist in studying your new language. As mentioned above, this first version will be focusing on Spanish/English only and then expand to additional languages. The cost here is for a professional Spanish teacher to create these materials. 

Project Management - $4,000 11,428 ADA

Time – 4 months $1,000 per Month

This would include processing monthly expenses for costs that we

incur (servers, domain fees, etc) as well as doing the monthly bookkeeping for

these. It would also include the time spent attending Catalyst meetings, preparing

our monthly Catalyst reporting, preparing close out reports and videos, and

everything else related to that. As well as monitoring this project, the people

participating in it, and ensuring everything stays on schedule and on

budget. 

Marketing - $12,000 34,286 ADA

Time – 6 to 12 months

6 to 12 months is included as the time frame because the marketing for something like this doesn’t end at the end of the proposal when the app is delivered. That is when it really begins in full force. To achieve this goal, we plan to advertise on popular social media channels such as Instagram, Youtube, Tik Tok, or Facebook. All advertisements will show our product but also make it clear that this is a Cardano product. So every dollar we spend on advertises helps our product, but it will also help put Cardano in front of thousands of new people who might not have been aware of it otherwise. Killing two birds with one stone. 

Costs to Advertise with Various Social Medias 

Instagram Average Cost per Click $0.20 to $2.00

TikTok Average Cost per Click $1.00 ($500 minimum per campaign)

Facebook Average Cost per Click $0.44

In addition there will be educational articles posted on Medium about the product and how to use it, tips for a better experience, explanations of its usefulness, and things of that nature. And of course posts from our own Twitter account and to the Cardano Reddit account.

Operating Expenses - $6,000 17,143 ADA

Time - 6 months $1,000 per month

This would include the costs to keep the platform up and running. Platform fees, server fees, Domain Registration, and ongoing support for end. The proposal has 4 months to be delivered and then we have budgeted 6 additional months to cover operating expenses before requiring additional sources of revenue. 

Price of ADA = .35

Total ADA = 110,000

$38,500

Note: We used a Price of ADA of $0.35 in the calculation of this budget, which is the current price of ADA at the time of writing. We are aware that the price of ADA is constantly fluctuating. We have created this budget carefully and are confident we can complete and deliver everything for this amount of ADA regardless how the price fluctuates over the coming months.

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

We believe that what we are proposing here represents a high value for the funding we are requesting. I have already outlined the market size that something like this reaches and the benefits to Cardano by brining in new users who would not normally be looking for a lending app or NFT store or typical products that you would find in blockchain. So now let me comment on typical costs for the wages in our countries. 

The two main people who will be working on this project live in Australia and the United States, which are both extremely high cost of living areas. We have budgeted $3,750 for 4 months for a developer to be working full time in building the app. The average annual salary for software developer jobs in Australia ranges from $95,000 to $115,000 per year according to Seek (https://www.seek.com.au/career-advice/role/software-developer/salary). At $3,750 per month that would equal $45,000 dollars per year, or less than half of the low end of the range. 

The other items such as Project Management, Operating Expenses, and Marketing have all been calculated to provide what we need but at the lowest possible cost. The costs for the Spanish materials have been calculated with an hourly rate of $4.68 per hour. The teacher typically charges $5 per hour for private lessons, which is typical in Colombia, so has offered a discounted rate from what they would normally charge.