Last updated 4 months ago
VESPR x DexHunter : Stable-Swaps Aggregation 💱
Problem
Cardano users are losing money due to double swap fees, with no stable-swap option available to directly lock in profits from Cardano Native Tokens.
Total to date
This is the total amount allocated to VESPR x DexHunter : Stable-Swaps Aggregation 💱.
About this idea
[GENERAL] Name and surname of main applicant
VESPR Team[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)
9[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)
We will develop a stable-swap aggregator for Cardano and integrate it into VESPR wallet, enabling users to lock in profits efficiently and cut down on swap fees through direct stablecoin exchanges.
[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
DeFi[SOLUTION] Please describe your proposed solution
Our proposed solution involves developing a stable-swap aggregator that will be seamlessly integrated into DexHunter’s web app and the VESPR wallet. This tool will enable direct exchanges between stablecoins, allowing users to lock in profits more efficiently and reduce the financial burden of double swap fees.
Understanding the Problem:
We recognize that Cardano users currently face significant inefficiencies and financial losses due to the lack of direct stable-swap capabilities. This gap forces users to perform multiple transactions with higher fees and increased slippage, detracting from their trading experience and profitability.
Approach to the Solution:
By creating a stable-swap aggregator, we aim to streamline the process, making it faster and more cost-effective. The integration with VESPR wallet ensures ease of access and usability, fostering wider adoption within the Cardano community.
Engagement:
The project will primarily engage current Cardano users who are active traders of native tokens and stablecoins. Additionally, it aims to attract new users looking for efficient and economical trading solutions within the cryptocurrency space.
Demonstrating Impact:
We will measure the impact of our solution through user adoption rates, transaction volume, and reduced fees reported by users. Success will also be gauged by the growth in trading efficiency and user satisfaction, which we will monitor through ongoing feedback and performance analytics.
Uniqueness and Importance:
What sets our solution apart is the direct integration into a widely used and trusted platform like VESPR, enhancing the native trading functionalities within the Cardano ecosystem. This not only benefits active traders by reducing their costs and saving time but also strengthens the overall liquidity and stability of the Cardano market, making it a more attractive investment and trading venue.
Our stable-swap aggregator will significantly improve the financial outcomes for users and contribute to the broader scalability and efficiency of the Cardano blockchain, marking a critical advancement in its financial infrastructure.
[IMPACT] Please define the positive impact your project will have on the wider Cardano community
Our project, the stable-swap aggregator integrated into the VESPR wallet, will significantly enhance the trading ecosystem on the Cardano platform. This enhancement will bring several key benefits to the community:
Value to the Cardano Community:
- Increased Efficiency: By facilitating direct stablecoin swaps, we reduce the need for multiple transactions, decreasing swap fees and minimizing slippage.
- Enhanced Liquidity: Simplified trading mechanics will attract platform liquidity, making Cardano more attractive to both existing users and potential investors.
- Improved Accessibility: The integration with the VESPR wallet makes advanced trading tools more accessible, helping to democratize finance on the blockchain for a broader user base.
Measuring Impact:
- Quantitative Metrics: We will track the adoption rate of the aggregator, the volume of transactions processed, and the reduction in swap fees experienced by users.
- Qualitative Feedback: User satisfaction and feedback will be gathered through surveys and community forums, allowing us to adjust features and address user needs continually.
The success of our project will not only optimize trading operations on Cardano but also foster a more robust and user-friendly ecosystem, aligning with the broader goals of scalability and efficiency in blockchain technology.
[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's capability to deliver the stable-swap aggregator project with high levels of trust and accountability is solidly supported by our expertise and proven track record in the Cardano ecosystem, enhanced by our partnership with DexHunter.
Existing Capabilities:
- Proven Expertise: Our team comprises seasoned blockchain developers and financial technology specialists with a history of developing and successfully maintaining high-utility projects like the DexHunter App and VESPR wallet.
- Robust Infrastructure: We leverage robust technological infrastructure that has supported both VESPR’s and DexHunter’s operations with over 99.9% uptime, demonstrating our ability to manage and execute complex projects effectively.
- Community Trust and Partnership: Within just one year, VESPR and DexHunter have become the community's favorite wallet and DEX aggregator, respectively, capturing a significant portion of the market share. This rapid rise not only demonstrates our strong community endorsement but also adds considerable credibility and operational robustness to our project.
Validating Feasibility:
- Prototype Testing: We will develop a prototype of the aggregator to test functionality and efficiency early in the development process, making necessary adjustments before full-scale deployment.
- User Feedback: Engaging users from the Cardano community will allow us to gather feedback during the testing phase, ensuring the solution meets user needs and expectations.
- Ongoing Assessments: Regular performance reviews and audits will ensure the system operates at peak efficiency and adheres to security standards.
Feasibility Assurance:
- Adaptive Development: Our agile methodologies allow for flexible and responsive adjustments based on real-time feedback and emerging needs.
- Community Collaboration: We maintain open communication with the Cardano community, ensuring transparency and fostering trust through regular updates and participatory decision-making.
With a combined strength of our internal capabilities and market dominance, we are uniquely positioned to successfully deliver this project, ensuring a significant enhancement to the Cardano trading experience.
[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?
UX Research, Designs and project analysis
Milestone outputs:
- User interface designs for the VESPR wallet and DexHunter dApp
- Initial scope for project’s required work
Acceptance criteria:
- UI designs in figma are completed for the VESPR wallet and DexHunter dApp
- Initial project scope is ready for commencing development work
Evidence of milestone completion:
- Figma designs will be provided
- Screenshots of Jira ticket(s) (or alternative project management tool) will be provided
API Development
Milestone outputs:
- DexHunter adds/updates API route on servers to support stable-swaps
- VESPR adds/updates API route on servers to support stable-swaps
Acceptance criteria:
- DexHunter created API endpoint for stable-swaps
- VESPR created API endpoint for stable-swaps
Evidence of milestone completion:
- DexHunter to show sample API response in Postman/CURL for the new stable-swaps endpoint
- VESPR to show sample API response in Postman/CURL for the new stable-swaps endpoint
UI Implementation
Milestone outputs:
- DexHunter implements UI for stable-swaps in web dApp
- VESPR implements UI for stable-swaps in wallet
Acceptance criteria:
- Stable swaps UI is implemented in the DexHunter dApp
- Stable swaps UI is implemented in the VESPR app
Evidence of milestone completion:
- DexHunter will show screenshots/video from the web dApp with the stable-swap UI
- VESPR will show screenshots/video from the app with the stable-swap UI
Integration
Milestone outputs:
- DexHunter dApp will connect to the new stable-swap API to fetch quotes and submit orders
- VESPR wallet will connect to the new stable-swap API to fetch quotes and submit orders
Acceptance criteria:
- DexHunter will get real-time quotes for stable-swaps and be able to submit orders
- VESPR will get real-time quotes for stable-swaps and be able to submit orders
Evidence of milestone completion:
- DexHunter will provide screen recording showing a stable-swap order being placed via the web dApp
- VESPR will provide screen recording showing a stable-swap order being placed natively in the wallet
Beta Release and User Testing
Milestone outputs:
- DexHunter will publish a beta version with the stable-swaps functionality enabled
- VESPR will publish a beta version with the stable-swaps functionality enabled
Acceptance criteria:
- DexHunter published a beta version with the stable-swaps functionality enabled
- VESPR published a beta version with the stable-swaps functionality enabled
Evidence of milestone completion:
- DexHunter will provide URL to web beta version running stable-swaps
- VESPR will provide screenshot evidence of app’s beta version with swaps being released to testers
Official Launch and Closing Reports
Milestone outputs:
- DexHunter will release live the dApp with stable-swaps enabled
- VESPR will release the app with stable-swaps enabled
- Catalyst Final Report and Closeout Video.
Acceptance criteria:
- DexHunter dApp with stable-swaps enabled is live
- VESPR app being live with stable-swaps enabled is live on at least one initial platform
- Catalyst Final Report and Closeout Video are made
Evidence of milestone completion:
- DexHunter will provide URL to live dApp with stable-swaps enabled
- VESPR will provide app store evidence that the app with stable-swaps enabled has been launched on at least one initial platform
[RESOURCES] Who is in the project team and what are their roles?
Alex Dochioiu | CEO & Senior Software Architect
Alex, founder and senior software architect of VESPR Wallet, has over 10 years of experience developing safety-critical mobile applications for major financial institutions, including American Express and Virgin Money. His extensive background ensures that VESPR adheres to industry best practices and maintains the highest technical standards. Alex brings a wealth of knowledge in handling complex, mission-critical systems, ensuring smooth execution of the technical aspects of the project.
In addition to leading VESPR, Alex is a member of Cardano's Product Committee and the Cardano Blockchain Infrastructure Alliance, where he contributes to shaping the long-term vision and strategy for the Cardano blockchain. His involvement in the committee allows him to align VESPR’s development with the broader goals of the Cardano ecosystem, ensuring that both the project and the platform evolve in tandem.
Vlad Stan | Engineering Manager and Senior Software Engineer
- LinkedIn: https://www.linkedin.com/in/stanvladut/
Vlad oversees the entire software development process, managing the project's lifecycle, coordinating resource allocation, and ensuring rigorous quality assurance. With a strong focus on performance and quality, he ensures that systems scale smoothly under heavy traffic, delivering reliable, high-quality user experiences while driving innovation in the engineering process.
He is a seasoned engineer and people leader with over 10 years of experience, known for effectively guiding high-performing teams on large-scale projects for high profile companies, such as Adobe. He led cross-functional teams across multiple geographies, delivering impactful projects to millions of users.
Nikita Melentjevs | DexHunter | CEO & Product Owner
Nikita Melentjevs, the CEO and product owner at DexHunter, leads the strategic direction and product development efforts. His expertise ensures that DexHunter remains at the forefront of innovation, maintaining high standards of functionality and user experience in the rapidly evolving cryptocurrency market.
Edoardo Carlo Salvioni | DexHunter | Blockchain Lead
Edoardo has three years of professional Cardano Development experience and has built infrastructure for many top dApps on the chain. With his extensive experience in dApps and decentralized solutions, he plays a crucial role in enhancing the security and efficiency of DexHunter's offerings.
Igors Koneckis | DexHunter | Lead Designer
Igors Koneckis, Head of Design & Lead UX/UI Designer with ten years experience, is responsible for the visual and interactive elements of the platform. With a keen eye for design and user experience, he has been instrumental in crafting interfaces that are not only visually appealing but also intuitive and user-friendly.
[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources
Milestone 1: 40k ADA
Project Manager: 2 managers x 3 days @ 600 usd/day = $3,600
Product and UI Designer: 10 days @ 400 usd/day = $4,000
Software Developer: 2 devs x 4 days @ 800 usd/day = $6,400
Milestone 2: 100k ADA
Project Manager: 2 managers x 1 days @ 600 usd/day = $1,200
Technical Architect: 2 architects x 2 days @ 1,000 usd/day = $4,000
Software Developer: 2 devs x 18.5 days @ 800 usd/day = $29,600
Milestone 3: 40k ADA
Product Owner: 2 prod owners x 5.5 days @ 400 usd/day = $4,400
Software Developer: 2 devs x 6 days @ 800 usd/day = $9,600
Milestone 4: 40k ADA
Product Owner: 2 prod owners x 5.5 days @ 400 usd/day = $4,400
Software Developer: 2 devs x 6 days @ 800 usd/day = $9,600
Milestone 5: 40k ADA
Project Manager: 2 managers x 1 days @ 600 usd/day = $1,200
Product Owner: 2 prod owners x 2 days @ 400 usd/day = $1,600
Software Developer: 2 devs x 7 days @ 800 usd/day = $11,200
Final Milestone: 35k ADA
Admin and Project Management: 2 x 2 days @ 600 usd/day = $2,400
DevOps: 2 devs x 6 days @ 800 usd/day = $9,600
[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?
The cost of developing the stable-swap aggregator and integrating it with the DexHunter App and the VESPR wallet represents significant value for money for the Cardano ecosystem through several key contributions:
- User Cost Savings: The ability to lock in profits directly through stable-swaps without incurring double transaction fees directly saves users money, which can be reinvested into the ecosystem or used for further trading.
- Enhanced Trading Efficiency: By introducing a stable-swap aggregator, we streamline the trading process on Cardano, reducing the need for multiple transactions and associated fees. This efficiency boost not only saves money for users but also enhances the overall liquidity and stability of the Cardano market.
- Increased Platform Attractiveness: The integration of this tool into the VESPR wallet makes Cardano more competitive and attractive to both existing cryptocurrency users and potential new adopters. This could lead to increased adoption of the Cardano platform, further driving up token value and network activity.
- Scalability and Future Growth: This project lays the groundwork for more sophisticated financial tools and services on the Cardano platform, paving the way for future innovations that can attract even more investment and development, thereby multiplying the value derived from this initial expenditure.
Cost Justification:
- Competitive Pricing: The project costs are aligned with industry standards, ensuring that every dollar spent is used efficiently to deliver high-quality technological solutions.
- Proven ROI: Previous enhancements to DexHunter and VESPR wallet have shown a direct return on investment through increased user engagement and transaction volumes, justifying the projected costs through demonstrated past performance.
In summary, the costs associated with this project are justified by the substantial benefits they bring to the Cardano ecosystem, from improving user experience and reducing costs to enhancing the platform’s competitive edge and paving the way for future growth and innovation. These factors together ensure that the investment made into this project will yield considerable returns, enhancing the value of the entire Cardano ecosystem.
