DexHunter Adding Advanced Order Types

[GENERAL] Name and surname of main applicant

Nikita Melentjevs

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

Individual

[GENERAL] Requested funds in ada

295000

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

11

[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)

Introducing advanced order types like stop loss, take profit, OCO, and DCA with min-max price ranges on DexHunter to empower traders with better risk management and automated trading strategies.

[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.”

We rely on existing decentralized exchanges (DEXs) and their APIs for order execution and price feeds. Integration with these DEXs is essential to provide real-time trading capabilities and accurate market data.

[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

While we utilize open-source components and adhere to open standards, certain proprietary algorithms and user interface designs will remain closed-source to maintain competitive advantage. Any additional smart contracts developed may be open-sourced if required.

[METADATA] Horizons

DeFi

[SOLUTION] Please describe your proposed solution

We propose to develop and integrate advanced order types into DexHunter, enabling users to set stop loss, take profit, OCO, and DCA orders with customizable price ranges. This will involve creating smart contracts and off-chain infrastructure to handle conditional order execution, enhancing the trading experience on Cardano by providing tools commonly found on centralized exchanges.

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

Enhanced Trading Tools: Providing advanced order types will attract more traders to the Cardano ecosystem, increasing trading volumes and liquidity.

Risk Management: Users can better manage their investment risks, leading to a more stable and mature market environment.

Innovation Catalyst: The project will showcase the capabilities of Cardano's smart contracts, encouraging further development and innovation within the community.

User Retention: By offering features found on traditional exchanges, we can retain users within the decentralized ecosystem rather than losing them to centralized platforms.

[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 has a proven track record with DexHunter, the leading DEX aggregator on Cardano. We have experience in developing secure and efficient DeFi applications. Currently we handle majority of Cardano trading volume daily.

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

Milestone 1: Planning and Wireframe Creation

• Duration: 2 month
• Milestone Outputs:
• Comprehensive project plan outlining all phases and tasks for implementing advanced order types.
• Initial wireframes covering all major sections of the new features.
• Creation of a GitHub repository for version control.
• Acceptance Criteria:
• Project plan reviewed and approved by the team.
• Wireframes finalized after team feedback.
• GitHub repository initialized with initial documentation.
• Evidence of Milestone Completion:
• Documentation of the project plan, including timelines and deliverables.
• Link to wireframes or design documents.
• GitHub repository link with initial commits.

Milestone 2: Development of Core Functionality

• Duration: 3 months
• Milestone Outputs:
• Development of smart contracts supporting advanced order types (stop loss, take profit, OCO, DCA).
• Backend infrastructure for order execution logic and integration with DEX APIs.
• Acceptance Criteria:
• Smart contracts pass internal code reviews and are documented.
• Backend systems tested and integrated with smart contracts.
• Codebase covered with automated tests.
• Evidence of Milestone Completion:
• Updated GitHub repository with latest code commits.
• Test results demonstrating functionality.
• Documentation of development progress.

Milestone 3: User Interface Development

• Duration: 3 months (overlapping with Milestone 2)
• Milestone Outputs:
• Intuitive user interface allowing users to set up advanced orders.
• Responsive design ensuring compatibility across devices.
• Acceptance Criteria:
• User interface tested for usability and functionality.
• Feedback from user testing incorporated into design.
• Deployment of the interface to a test environment.
• Evidence of Milestone Completion:
• Links to UI/UX designs in Figma or other design tools.
• Access to the test environment with the new interface.
• User testing reports and feedback summaries.

Milestone 4: Testing and Optimization

• Duration: 2 month
• Milestone Outputs:
• Comprehensive testing of the advanced order types feature, both frontend and backend.
• Optimization based on testing results and user feedback.
• Acceptance Criteria:
• All features perform reliably under various conditions without errors.
• Transactions execute successfully, and the order-building process is smooth.
• User interface is intuitive and user-friendly, confirmed by positive feedback.
• All pages related to the new features are fully functional.
• Evidence of Milestone Completion:
• Provide a link to the fully functional deployment of the advanced order types.
• Collect and present user feedback highlighting the intuitiveness and reliability of the new features.
• Include a detailed video walkthrough demonstrating the features in action.

Final Milestone: Documentation and Reporting

• Duration: 1 month
• Outputs:
• Final report and closing video.

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

CEO & Project Lead: Nikita Melentjevs

• Project management, business strategy, and partnerships.

Blockchain Lead: Edoardo Carlo Salvioni

• Smart contract development and backend architecture.

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

Total Requested Funds: 165,000 ADA

Milestone 1: Planning and Wireframe Creation

• Duration: 1 month
• Cost Estimate: 15% (24,750 ADA)
• Planning sessions, market research, and documentation.

Milestone 2: Development of Core Functionality

• Duration: 2 months
• Cost Estimate: 35% (57,750 ADA)
• Developer salaries, code reviews, initial testing.

Milestone 3: User Interface Development

• Duration: 2 months (overlapping with Milestone 2)
• Cost Estimate: 25% (41,250 ADA)
• Frontend development, design tools, user testing.

Milestone 4: Testing and Optimization

• Duration: 1 month
• Cost Estimate: 15% (24,750 ADA)
• Comprehensive testing, optimization, and user feedback incorporation.

Final Milestone: Deployment and Launch

• Duration: 1 month
• Cost Estimate: 10% (16,500 ADA)
• Security audits, final testing, deployment costs, closing video production, and marketing.

Additional Costs:

• Contingency Reserve: Approximately 5% (8,250 ADA)
• For unforeseen expenses and adjustments during the project.

Third-Party Products/Services:

• Security audit services.
• Hosting and cloud services for off-chain infrastructure.
• Professional services for legal compliance.

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

The requested funding enables the development of advanced trading features that are currently lacking in the Cardano DeFi space. By providing tools like stop loss and take profit orders, we enhance user experience and attract traders from traditional platforms, increasing adoption. The investment accelerates Cardano's competitive edge in DeFi, offering high value for the ecosystem relative to the cost.