Integrating Minswap and Maya Protocol DEX on Edge platform with ADA and Liquidity Stakinge

[GENERAL] Name and surname of main applicant

Raljoseph Ricasata

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

Entity (Incorporated)

[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)

1. Integrate ADA swaps, WalletConnect, and DeFi liquidity staking via Minswap and Maya Protocol into Edge.
2. Edge is open source and privacy focused with a proven track record having been around since 2014.

[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.”

1. Minswap DEX:
2. The project depends on the Minswap DEX to provide ADA swaps, liquidity staking functionalities. Any changes or updates to Minswap’s platform could affect the integration.
3. Maya Protocol DEX:
4. Integration with Maya Protocol DEX is required for ADA swaps. This relies on their infrastructure and API availability.
5. WalletConnect:
6. For enabling WalletConnect functionality, the project depends on WalletConnect’s protocol for secure dApp connections and support for ADA tokens.
7. Cardano Ecosystem:
8. The entire solution is dependent on the Cardano network’s stability and ongoing support for ADA tokens and native assets, as well as updates to the blockchain infrastructure and related smart contracts.

[GENERAL] Will your project’s output/s be fully open source?

Yes

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

1. Our project outputs will continue to be open source, aligning with Edge's existing open-source status under the MIT License

[METADATA] Horizons

DeFi

[SOLUTION] Please describe your proposed solution

1. Our proposed solution aims to integrate comprehensive ADA and DeFi functionalities into Edge, providing users with seamless access to Cardano's ecosystem. The core problem we address is the limited ADA support and lack of integrated DeFi features within existing wallets, which restricts users from fully participating in Cardano's expanding decentralized finance ecosystem.
2. How We Perceive the Problem
3. Cardano’s growth and the rise of decentralized exchanges (DEXes) like Minswap and protocols like Maya present significant opportunities for ADA holders. However, without direct integration of these features into widely used wallets like Edge, users face fragmentation and the need for multiple applications, which complicates their experience. This hinders Cardano’s adoption and user engagement in DeFi activities such as liquidity staking, and swapping.
4. Our Approach
5. We will integrate the following key functionalities into Edge:
6. ADA and Token Swaps: Integration with Minswap and Maya Protocol will allow users to perform seamless token swaps directly within the wallet.
7. WalletConnect Support: By implementing WalletConnect, users will be able to interact with various Cardano dApps securely, enhancing the utility and interoperability of Edge.
8. Liquidity Staking: Users will be able to participate in MIN staking and double-sided liquidity pool (LP) staking on Minswap, offering them opportunities to earn rewards while maintaining ADA liquidity.
9. This comprehensive approach ensures that users can access all essential Cardano DeFi services in a single, user-friendly platform. We chose this method because it maximizes accessibility and consolidates multiple DeFi functions into one secure environment, streamlining the user experience.
10. Who We Engage
11. Our project will engage:
12. Existing Edge Users: Expanding ADA support and DeFi options attracts more Cardano enthusiasts and ADA holders already using the wallet.
13. Cardano Community: By providing access to Cardano dApps and liquidity staking options, we empower the community to interact with the broader ecosystem.
14. DeFi Developers: The WalletConnect integration creates new opportunities for developers building Cardano dApps to attract users directly through Edge.
15. Demonstrating Impact
16. We will measure our impact through:
17. User Growth Metrics: Tracking the number of ADA swaps.
18. Transaction Volume: Monitoring the volume of ADA and token swaps conducted through the wallet.
19. These metrics will show how our integration enhances user activity and adoption within Cardano’s DeFi space.
20. Unique Aspects and Benefits
21. What sets our solution apart is its comprehensive and user-centric approach. By integrating DEX features, WalletConnect, and liquidity staking support into Edge, we offer a complete DeFi solution for ADA users in one platform. This is critical for Cardano’s growth as it simplifies user interactions and reduces barriers to entry. Ultimately, our solution enhances the overall accessibility and adoption of Cardano’s DeFi capabilities, supporting the network’s evolution and its goal of becoming a global financial operating system.

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

1. Our project will have a significant positive impact on the wider Cardano community by expanding access to DeFi services, enhancing user engagement, and driving adoption of ADA-based activities through Edge. Here’s how we define and measure this impact:
2. Positive Impact on the Cardano Community with:
3. Increased ADA Adoption: By integrating ADA swaps, and liquidity staking features, we make it easier for users to engage with Cardano’s DeFi ecosystem, encouraging more people to hold and utilize ADA tokens. This enhances the network's activity and overall liquidity.
4. Enhanced DeFi Accessibility: Users will have a streamlined experience accessing Cardano’s DeFi services without needing multiple platforms. This reduces friction, allowing both experienced users and newcomers to participate in Cardano’s ecosystem easily.
5. Boost to Cardano dApp Usage: With WalletConnect support, users can interact with a broader range of Cardano dApps directly through Edge, increasing dApp engagement and fostering innovation in the community.
6. Measuring the Impact
7. We will measure our impact using the following quantitative and qualitative metrics:
8. User Engagement Metrics: Track the number of active users participating in ADA swaps through the wallet.
9. Transaction Volume: Monitor the volume and frequency of ADA and token swaps processed through Minswap and Maya Protocol integrations.
10. These metrics will be collected through Edge’s analytics tools and shared as transparent reports with the Cardano community, showing the progress and impact of our integrations.
11. Sharing Outputs and Opportunities
12. Community Reports and Updates: We will provide periodic updates through Edge’s official communication channels, such as newsletters, social media, and Email, detailing our progress, impact metrics, and future plans.
13. Partnerships and Collaborations: We will engage with other Cardano developers and projects to showcase our solutions and explore further integrations, promoting innovation and ecosystem growth.
14.    Value to the Cardano Community
15. By lowering barriers to entry and enhancing user experience with ADA, our project supports Cardano’s mission of building an inclusive, decentralized financial ecosystem. It not only benefits existing users but also attracts new participants, developers, and partners, contributing to the long-term growth and resilience of the Cardano network.

[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?

1. Our team's experience and successful track record demonstrate our capability to deliver high-quality projects with trust and accountability. Here's how our accomplishments support our credibility:
2. Accomplishments: Projects Completed
3. ZEC Integration:
4. We successfully integrated Zcash (ZEC) into Edge, adding support for its transactions and functionality.
5. https://edge.app/blog/company-news/edge-adds-support-for-zcash/
6. Monero and XRP Integration:
7. We completed integrations for Monero (XMR) and Ripple (XRP), highlighting our ability to manage complex blockchain assets
8. https://bravenewcoin.com/insights/edge-mobile-wallet-adds-ripple-and-monero
9. TOMB Swap/Staking on FTM:
10. We integrated TOMB token swaps and staking on the Fantom (FTM) blockchain, expanding DeFi options within Edge
11. https://edge.app/blog/company-news/edge-adds-support-for-tomb-staking/?af=edge-app
12. FIO Name and Staking:
13. Edge added support for FIO staking, providing users with options for secure, name-based transactions and staking rewards
14. https://edge.app/blog/company-news/edge-adds-support-for-fio-staking/
15. THORChain DEX Swap:
16. We successfully implemented support for THORChain swaps, enabling multi-asset, cross-chain swaps directly within Edge
17. https://edge.app/blog/company-news/edge-adds-support-for-thorchain-swaps/?af=edge-app
18. THORChain Vault Savers:
19. Rolled out THORChain Savers and integrated a DEX aggregator, enhancing the platform's decentralized finance offerings
20. https://edge.app/blog/company-news/edge-rolls-out-thorchain-savers-and-dex-aggregator/
21. Integration of Li.Fi:
22. We incorporated Li.Fi, expanding our cross-chain liquidity and token bridging capabilities
23. https://edge.app/blog/company-news/edge-wallet-lifi-integration/
24. Coreum and IBC Integration:
25. Edge integrated Coreum and IBC, boosting our wallet's interoperability and user flexibility.
26. https://edge.app/blog/company-news/coreum-cosmos/
27. Optimism and Velodrome DEX:
28. We integrated Optimism, a Layer-2 scaling solution, along with support for Velodrome DEX and liquidity staking
29. https://edge.app/blog/crypto-basics/optimism-on-edge/
30. Demonstrating Capability and Trustworthiness
31. These accomplishments highlight our ability to manage diverse and technically demanding integrations, proving our team's expertise in delivering complex blockchain functionalities securely and effectively. Our history of supporting multiple assets and DeFi features across different blockchains builds trust and showcases our reliability.
32. Structured and Accountable Processes
33. Transparent Development: All our past projects have been developed in an open-source environment, with code accessible for community review. This ensures transparency and invites collaborative feedback.
34. Milestone-Based Project Management: We break projects into defined milestones, with deliverables and timelines clearly set. Funds are managed based on milestone completion, ensuring accountability.
35. Periodic Community Updates: We engage with the community through GitHub, social media channels, and newsletters, providing regular progress updates and inviting community input, reinforcing our commitment to transparency.
36. Why We Are Best Suited to Deliver This Project
37. With our extensive experience integrating diverse assets and DeFi functionalities, Edge is dedicated and confident in our ability to complete and deliver this project successfully. Our proven track record, structured approach, and commitment to open-source development demonstrate our capability and accountability, ensuring that we are best suited to implement the ADA and DeFi features proposed for Edge.

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

1. Milestone 1: Tokens on ADA Supported on Edge
2. Timeframe: Months 1-2
3. Acceptance Criteria:
4. ADA token support is successfully integrated, enabling users to store and transact ADA within Edge.
5. Initial UI updates are tested to ensure a seamless user experience for ADA transactions and dApp interactions.

1. Milestone 2: WalletConnect
2. Timeframe: Months 3-4
3. Acceptance Criteria:
4. WalletConnect functionality is set up, allowing secure connections between Edge and Cardano dApps.

1. Milestone 3: Minswap DEX Integration for Swaps
2. Timeframe: Months 5-6
3. Acceptance Criteria:Integration with Minswap DEX is completed, allowing users to swap ADA and other Cardano-native tokens directly within Edge.

1. Milestone 4: MIN staking and Full Liquidity Pool (LP) Staking Support on Minswap
2. Timeframe: Months 7-8
3. Acceptance Criteria:
4. MIN staking and Full integration of Liquidity staking capabilities on Minswap, enabling users to engage in liquidity pools directly via Edge.
5. Refinement of the user interface to enhance liquidity staking.

1. Milestone 5: Maya Protocol DEX Support
2. Timeframe: Months 9-10
3. Acceptance Criteria:
4. Maya Protocol integration is fully implemented, allowing ADA swaps via this DEX within Edge.
5. Cross-compatibility testing with Minswap is conducted to ensure smooth operation across multiple DEX platforms.

1. Milestone 6 - Final Close Out: Recap and Reporting
2. Timeframe: Month 11-12
3. Acceptance Criteria:
4. Compilation of a detailed project report summarizing key metrics such as user adoption and transaction volume
5. Public dissemination of a summary report to the Cardano community and grant stakeholders, highlighting the project’s successes, impacts, and potential future developments.
6. This adjusted timeline ensures thorough development, testing, and implementation over a 12-month period, allowing for careful monitoring and community engagement at each stage.

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

1. Paul Puey - CEO - https://www.linkedin.com/in/paulpuey/ 
2. William Swanson - CTO - https://www.linkedin.com/in/william-swanson-834089a6/
3. Raljoseph Ricasata - Head of QA - https://www.linkedin.com/in/rjricasata/ 
4. Matthew Piche - Developer - https://www.linkedin.com/in/matthew-pich%C3%A9-42a45360/ 
5. Sam Holmes - Developer - https://www.linkedin.com/in/sammyholmes/
6. Jonathan Tzeng - Developer/UX - https://www.linkedin.com/in/jonathan-tzeng-a892b451/ 
7. Madison Paiement - UX/Design/Marketing - https://www.linkedin.com/in/madison-paiement-440192180/

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

1. Total Budget Estimate: 500,000 ADA
2. Milestone 1: Tokens on ADA Supported on Edge
3. Timeframe: Months 1-2
4. ADA Allocation: 90,000 ADA
5. Resources & Costs:
6. Development Team (2 Developers): 60,000 ADA (30,000 ADA/month for 2 months)
7. UI/UX Adjustments: 10,000 ADA (to ensure ADA tokens are integrated smoothly into the wallet interface)
8. Testing & QA: 20,000 ADA (10,000 ADA/month for 2 months)
9. Milestone 2: WalletConnect Integration
10. Timeframe: Months 3-4
11. ADA Allocation: 80,000 ADA
12. Resources & Costs:
13. Development Team (2 Developers): 60,000 ADA (30,000 ADA/month for 2 months)
14. Testing & QA: 20,000 ADA (10,000 ADA/month for 2 months)
15. Milestone 3: Minswap DEX Integration for Swaps
16. Timeframe: Months 5-6
17. ADA Allocation: 80,000 ADA
18. Resources & Costs:
19. Development Team (2 Developers): 60,000 ADA (30,000 ADA/month for 2 months)
20. Testing & QA: 20,000 ADA (10,000 ADA/month for 2 months)
21. Milestone 4: MIN Staking and Liquidity Staking on Minswap
22. Timeframe: Months 7-8
23. ADA Allocation: 110,000 ADA
24. Resources & Costs:
25. Development Team (2 Developers): 90,000 ADA (30,000 ADA/month for 3 months)
26. UI/UX Refinements: 10,000 ADA (to MIN staking and Liquidity staking functionalities)
27. Testing & QA: 10,000 ADA (for MIN staking and Liquidity staking)
28. Milestone 5: Maya Protocol DEX Support
29. Timeframe: Months 9-10
30. ADA Allocation: 80,000 ADA
31. Resources & Costs:
32. Development Team (2 Developers): 60,000 ADA (30,000 ADA/month for 2 months)
33. Testing & QA: 20,000 ADA (10,000 ADA/month for 2 months)
34. Final Close Out Milestone: Recap and Reporting
35. Timeframe: Months 11-12
36. ADA Allocation: 25,000 ADA
37. Resources & Costs:
38. Project Manager: 15,000 ADA (to compile reports and coordinate the final stages)
39. Community Report & Marketing: 10,000 ADA (for producing and distributing the summary report)
40. Contingency & Buffer 
41. ADA Allocation: 35,000 ADA
42. To cover unforeseen expenses, additional testing, or unexpected resource needs during the project.

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

1. The project’s total budget of 500,000 ADA represents excellent value for the Cardano ecosystem, given the extensive features and long-term benefits it aims to deliver. Here's how we justify the costs and demonstrate their proportionality:
2. Comprehensive Feature Set for ADA and DeFi Integration
3. The project will integrate several crucial features, such as ADA token support, WalletConnect functionality, Minswap and Maya Protocol DEX integration, and full liquidity staking capabilities. These integrations enhance the accessibility and usability of Cardano’s DeFi ecosystem within Edge, making it a one-stop solution for users.
4. The comprehensive nature of these features means the project directly supports Cardano’s growth by encouraging more users to hold and transact ADA, engage with Cardano-native DeFi services, and participate in liquidity staking.
5. Industry-Standard Development Costs
6. The budgeted costs are based on industry-standard rates for blockchain developers, UI/UX designers, and QA specialists. These rates reflect average compensation in the tech industry, particularly in regions like North America and Europe, where developers with specialized blockchain skills command high rates. For instance:
7. These costs are not inflated but instead aligned with industry norms to attract high-quality talent, ensuring the project is developed with excellence and efficiency.
8. Efficient Use of Funds Through Milestone-Based Management
9. The project’s milestone-based approach ensures that funds are only released upon the completion of defined deliverables. This structure minimizes risk and ensures the Cardano community and stakeholders get the most value out of every ADA allocated.
10. Regular monitoring and reporting, as planned, provide transparency and accountability, demonstrating that every stage of the project is completed efficiently and within the planned budget.
11. Long-Term Value Creation for the Cardano Ecosystem
12. By integrating ADA and multiple DeFi functionalities directly into Edge, the project not only enhances user experience but also encourages Cardano ecosystem participation. Increased activity (ADA transactions, liquidity staking, and token swaps) will boost network value, liquidity, and adoption rates.
13. The enhancements ensure that users have a secure, user-friendly wallet supporting Cardano’s growth, which represents a high return on investment (ROI) for the community’s allocation of resources.
14. Optimized Contingency Planning
15. We’ve allocated 7% of the budget (35,000 ADA) as a contingency to cover unforeseen challenges or additional testing. This buffer ensures the project can adapt flexibly without seeking additional funds, protecting the ecosystem’s investment and ensuring project completion without compromise.
16. Conclusion
17. By aligning costs with industry standards and ensuring efficient milestone-based fund management, the project delivers significant value for money. It strategically enhances ADA and DeFi accessibility within the Cardano ecosystem, directly contributing to its growth and sustainability.