Crypt Keeper

[GENERAL] Name and surname of main applicant

Anthony McDonough

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

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

Nichol McDonough

[GENERAL] Requested funds in ada

380375

[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)

Securely store seed phrases, promote privacy, and enhance security. Add value to Cardano community events and engage them through direct education and support.

[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

n/a

[METADATA] Horizons

Security

[SOLUTION] Please describe your proposed solution

The Crypt Keeper is a super durable, offline device designed to securely store cryptocurrency seed phrases. It blends material science and cryptographic principles (bip39) to protect your seed phrase against physical damage.

It empowers users to maintain full control over their private keys, aligning with decentralized finance principles. By simplifying seed phrase management, it appeals to both new and experienced users who may struggle with complex security practices. Additionally, distributing the product at community events promotes best practices, raising awareness about secure storage. Its modular design ensures scalability and adaptability for future growth in the evolving crypto space.

CK engages with Cardano users, DeFi investors, and both new and experienced crypto holders who need a proper and secure seed phrase storage backup. It will also involve developers building within the Cardano ecosystem, participants at crypto community events, and blockchain educators to raise awareness about seed phrase security and promote best practices for being your own bank.

To prove CK's impact, I will track distribution metrics, gather user feedback, and monitor reductions in security incidents. Additionally, I will document educational efforts at community events, highlight partnerships with developers, and analyze long-term use of the product. These methods will demonstrate improved seed phrase security and user engagement within the Cardano ecosystem.

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

During the Wyoming Summit in 2021, Crypt Keeper showcased its effectiveness and appeal by giving away 100 units in person, a particularly well-received move by attendees.

The in-person distribution allowed for immediate engagement and addressed a common concern in the crypto community. Recipients appreciated the ability to learn about and receive CKs without having to provide personal information, which aligns perfectly with the crypto ethos of anonymity and security.

Attendees were impressed with the high-quality construction and attention to detail, noting that offering such a premium product as free swag significantly enhanced the value of the event experience.

[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?

Experienced Project Team: Led by Anthony McDonough, with a strong background in manufacturing and procurement, ensuring high-quality standards.

Proven Track Record: Nearly seven years of experience in locally manufacturing Crypt Keepers, with over 6,000 units distributed worldwide, demonstrating reliability.

Defined Milestones: Clear milestones with specific deliverables and timelines enable progress tracking and accountability throughout the project.

Quality Assurance: Rigorous quality control measures ensure each unit meets high standards, enhancing product trustworthiness.

Community Engagement: Actively involving the Cardano community in educational outreach and product demonstrations aligns the project with user needs.

Performance Metrics: To measure the project's impact, establishing metrics to evaluate success, such as adoption rates and feedback scores.

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

The first milestone involves procuring materials necessary for the production of the CKs. Once the material arrives, an inspection is performed to ensure that it meets our standards. -1 month

In the second milestone, the acquired materials will undergo processing, including cutting and machining to precise specifications. This stage is crucial to ensuring that all components are accurately machined. -1 month

The third milestone focuses on enhancing the properties of the machined components through anodization. This process will improve the durability and corrosion resistance of the materials, ensuring that the Crypt Keeper is built to last. Following the anodization, quality checks will be performed to verify that both the functional and aesthetic aspects meet project specifications. -2 months

During the fourth milestone, laser engraving will be applied. This step enhances the product's visual appeal and provides essential information for users. Ensuring clarity and durability in the engraving is essential to maintaining the product's professional quality. -1 month

The fifth milestone involves packaging the finished CKs for distribution. Assembling and labeling the packages, the project aims to ensure the devices remain secure and presentable during transport and distribution. -1 month

The final milestone centers on distributing the CKs to various Cardano events. This phase will coordinate logistics to ensure timely delivery and engagement with event participants. By educating users about the Crypt Keeper's benefits and promoting secure seed phrase management, the project seeks to maximize its impact within the Cardano community. -6 months

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

Anthony McDonough

Anthony brings a wealth of experience as a mechanical engineer, particularly in aerospace engineering, which equips him with advanced knowledge of design principles and manufacturing processes. As the lead for design and process management, he will oversee the development of the Crypt Keeper, ensuring that it meets all functional and aesthetic requirements. Additionally, as the founder of Bloom Pool and Drip Dropz, Anthony leverages his entrepreneurial skills to drive project innovation and strategic direction.

Nichol McDonough

Nichol is responsible for the Crypt Keeper project's material procurement, design elements, packaging, and distribution logistics. Her role is critical in sourcing materials aligned with the project's durability and security goals. Additionally, she will manage the packaging design aspects to ensure the product is well-protected and visually appealing. Her expertise in logistics will also facilitate efficient distribution to various Cardano events.

Chris Balba

Chris serves as the project's lead machinist, bringing extensive experience in aerospace manufacturing. His expertise in machining processes will be essential for accurately cutting and shaping the materials needed for the Crypt Keeper. Chris will ensure that all components meet the highest quality standards during production, contributing to the overall reliability and functionality of the final product.

Together, this skilled project team combines engineering expertise, procurement efficiency, and manufacturing precision to successfully develop and distribute the Crypt Keeper, ensuring it meets the needs of the Cardano community while maintaining high-quality standards.

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

• Raw Material Costs: $40,000
• Manufacturing Costs:
• Machining: $28,000
• Anodizing: $7,000
• Laser Engraving: $9,000
• Total Manufacturing Costs: $44,000
• Packaging Costs: $8,000
• Logistics and Distribution: $7,000
• Marketing and Education (Workshops and Demonstrations): $3,000
• Management Expenses: $6,000
• Contingency Fund: $3,000

Total Project Budget: $111,000

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

Enhanced Security for Users: The Crypt Keeper mitigates risks associated with crypto loss by providing a durable, offline solution for seed phrase storage. This directly contributes to the security and trust of the Cardano ecosystem, encouraging more users to participate and invest in cryptocurrencies.

Support for Decentralization: The project aligns with the core principles of decentralized finance (DeFi) and the ethos of the Cardano community, which emphasizes user sovereignty and self-custody. By empowering individuals to manage their assets securely, the Crypt Keeper fosters a more decentralized ecosystem, enhancing its overall resilience and sustainability.

Educational Outreach: The proposal includes workshops and demonstrations to educate users about the importance of secure seed phrase management. This initiative promotes best practices and increases awareness about security risks, encouraging responsible engagement in the crypto space. Investing in education maximizes the project's impact, benefiting the entire community.

Scalability and Future-Proofing: The Crypt Keeper's modular design allows it to adapt to different blockchain technologies and evolving security needs. As the cryptocurrency landscape grows, the project’s flexibility ensures that it remains relevant and valuable to Cardano users, making it a sound investment for future advancements.

Community Engagement: The project actively engages the community and fosters user connections by distributing the Crypt Keeper at Cardano events. This grassroots approach increases product visibility and reinforces a sense of community ownership, further enhancing the value derived from the investment.

Potential for Increased Adoption: With a secure and user-friendly product, the Crypt Keeper can attract new users who may have hesitated to enter the crypto space due to security concerns. This potential for increased adoption contributes to the growth and vibrancy of the Cardano ecosystem, ultimately benefiting all stakeholders.

Overall, the investment in the Crypt Keeper project reflects a commitment to enhancing user security, promoting education, and fostering a resilient community within the Cardano ecosystem, making it a valuable allocation of resources.