Snek.fun v2 : Onboarding Cross-Chain Users to Cardano

[GENERAL] Name and surname of main applicant

Snek Foundation

[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

500000

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

6

[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)

Enhance Snekdotfun with new features and implement marketing strategies to attract users from outside Cardano, tapping into an untapped market and driving user acquisition and community engagement.

[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

Our platform and the underlying data that feeds our application will not be open-sourced. Beyond competitive advantage and monetization concerns, these components involve proprietary elements essential for maintaining our users' data security and privacy. By keeping these elements proprietary, we can better manage the quality of the user experience and protect sensitive information or intellectual property processed by the platform.

[METADATA] Horizons

Marketplace

[SOLUTION] Please describe your proposed solution

TL;DR: 

The Snekdotfun fair token launch platform was a success, but we believe its full potential has yet to be realized. The MVP, released on September 5th, attracted users from around the world. Snekdotfun saw a surge of 22,000 users in just 10 seconds, marking one of the busiest days on Cardano by chain activity. With this proposal, our goal is to enhance Snekdotfun even further and fully tap into the vibrant meme culture, attracting users at an even larger scale.

Proposed solution:

Snekdotfun is a pre-market token launch platform designed to ensure secure, fair token launches, with no team allocations for any token. A constant bonding curve serves as a mechanism to gauge demand for each token.

With the concept already proving successful, this proposal seeks to expand Snekdotfun by introducing a broader range of features and promoting the platform through diverse marketing channels and community initiatives.

The current market narrative is centered around memecoins, and Cardano needs to position itself as a leader by offering a competitive product and incentives to attract new users.

New features will include but are not limited to:

• Enhancing the trading experience by speeding up order execution
• Adding user profiles
• Integrating chat for each token launch to boost user engagement
• Expanding token analytics (e.g., bubble maps, related wallets, and various metrics)
• Improving portfolio visualization (PnL, transaction history, etc.)
• Developing a community incentive system

Marketing efforts will focus on growing the user base, including but not limited to:

• Engaging targeted KOLs (Key Opinion Leaders)
• Creating promotional content
• Running campaigns and contests to drive awareness and participation

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

The success of our project will bring significant value to the Cardano Community in several ways:

1. It will onboard new cross-chain users, driving growth, engagement, and increased trading volume across the ecosystem.
2. It will enhance Cardano's visibility beyond its ecosystem.
3. It will open up an untapped market for memecoin culture.

We will measure our impact quantitatively through metrics such as the number of new tokens launched, new users and trading volume growth. In terms of visibility, we will track the exposure new projects gain across Cardano. On a qualitative level, we’ll assess ease of use, community engagement, and overall sentiment toward our platform.

To ensure transparency and keep the community informed, we will provide regular updates through various channels, including Snek (45k followers) and Splash platforms, social media, and presentations at key events. We are dedicated to openness and will actively seek feedback from the Cardano community to continuously improve.

[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?

Snek expertise:

• Created the most traded token on Cardano
• Fostered one of the largest communities on Cardano
• Delivered several products
• Created several partnerships with high-profile projects and ecosystem figures
• Great understanding of the market
• Powerful brand and marketing strategy

Splash expertise (dev partner):

• Delivered several blockchain large-scale applications
• Deep understanding of the Cardano technology and smart contracts
• Expertise in the UI/UX of trading and DeFi products
• More than 6 years of experience in eUTxO chains

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

Expand Market Research & Competitive Analysis

A: Milestone outputs

• Conduct deeper analysis on competing platforms in other blockchain ecosystems.
• Identify opportunities for cross-chain user acquisition and refine product-market fit based on emerging trends.

B: Acceptance criteria

• Deliver a comprehensive report comparing competitive solutions, identifying unique positioning for Snek.fun.

C: Evidence of milestone completion

• Publish findings on social media with a summary of the strategic opportunities identified.

User Profile Implementation & Chat Integration

A: Milestone outputs

• Design and integrate personalized user profiles to enhance individual user experience.
• Allow users to track past launches, manage their tokens, and visualize portfolios.
• Introduce a chat feature for each token launch to foster real-time community interaction.
• Implement moderation tools to ensure a positive user experience.

B: Acceptance criteria

• Successfully integrate customizable user profiles that include portfolio tracking and user-specific preferences.
• Launch chat rooms linked to active token launches and ensure stable real-time messaging.

C: Evidence of milestone completion

• Showcase user profile features through a test demo, allowing selected users to test and provide feedback.
• Conduct a successful community test session, demonstrating chat capabilities during a live token launch.

Trading Experience Enhancement

A: Milestone outputs

• Optimize the trading process by speeding up order execution and reducing latency.
• Implement updates for a smoother, more efficient trading interface.

B: Acceptance criteria

• Achieve a target reduction in order processing time, verified through testing in a staging environment.

C: Evidence of milestone completion

• Demonstrate improved order execution speed via a testnet performance report shared with the community.

Advanced Token Analytics and Portfolio Visualization

A: Milestone outputs

• Expand analytics features with bubble maps, wallet relationships, and other metrics.
• Improve the visualization of user portfolios, including PnL and transaction histories.

B: Acceptance criteria

• Complete integration of new analytics features and enhanced portfolio visualizations.

C: Evidence of milestone completion

• Publish a demo showcasing the new analytics dashboard and portfolio tools, inviting feedback from early testers.

Community Incentive System Launch and Community Engagement

A: Milestone outputs

• Develop and deploy a community incentive system with rewards, badges, and user engagement milestones.
• Gamify participation to increase user retention and attract new participants.

B: Acceptance criteria

• Successful deployment of the incentive system, including visible reward tracking for users.

C: Evidence of milestone completion

• Present a demo video of the working incentive system, and invite community participation to test the reward mechanisms.

Marketing Campaign and Cross-Chain User Acquisition

A: Milestone outputs

• Execute a marketing campaign focused on engaging KOLs and creating targeted promotional content.
• Run contests and campaigns to raise awareness and drive user growth from outside Cardano.

B: Acceptance criteria

• Onboard a significant number of new users from non-Cardano ecosystems, hitting set targets for user growth.

C: Evidence of milestone completion

• Publish metrics on campaign performance, including number of new users and overall engagement, through social channels.

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

The project will be delivered in partnership by Snek and Splash.

Snek

Socials:

• Twitter (X): https://twitter.com/snek 
• Website: https://www.snek.com/

Roles:

• Marketing & content creation
• Go-to-market strategy
• Sale pipeline & CRM
• Business Development
• In charge of UI/UX design, legal professional services and project management

Splash (dev partner)

Socials:

• Twitter (X): https://twitter.com/splashprotocol 
• Website: https://www.splash.trade/

Roles:

• Development and maintenance of the platform
• Development of new features and integrations
• Maintaining support for users via discord tickets
• In charge of cloud services, backend and frontend development and smart contract integration

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

• UI/UX Design: 20,000 ADA
• Cloud services: 10,000 ADA
• Backend and Frontend Development: 180,000 ADA
• Marketing and community initiatives : 165,000 ADA
• Project Management: 75,000 ADA
• Miscellaneous and Contingency: 50,000 ADA

Total Budget: 500,000 ADA

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

Snekdotfun's expansion brings substantial value to the Cardano ecosystem by:

• Increasing cross-chain user acquisition.
• Increasing the trading volume of native tokens, which boosts the Cardano treasury and supports multiple DApps within the ecosystem.
• Enhancing Cardano’s visibility beyond its own ecosystem through broader marketing campaigns.
• Offering rewards and incentives to the community.

The costs associated with the project are meticulously calculated, taking into account the average wage in our country, standard freelance rates in our industry, and the project's complexity and scope.

This investment will drive the development of the Cardano ecosystem. It will foster more project founders, increase chain usage, trading volume, and visibility, lower barriers for newcomers, and provide users with an untapped market where meme culture can thrive.