Cardano Telegram Wallet with DeFi Integration & Whale Watcher

[GENERAL] Name and surname of main applicant

Djibril Konate

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

Individual

[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)

We will create a Cardano Telegram Mini App Wallet with DeFi integration, secure ADA management & a Whale Watcher feature to monitor large transactions, providing users with insights and convenience

[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.”

Our project has dependencies on a few key external factors:

1. Telegram Mini App Integration: We rely on Telegram’s Mini App platform and API access to ensure seamless integration within the app ecosystem.
2. Cardano Blockchain Infrastructure: We depend on Cardano’s network for blockchain functionality, including staking, smart contracts, and DeFi integrations.
3. Third-Party Security Audits: External auditors will be needed for reviewing the security of smart contracts and wallet features.

[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

The Cardano Telegram Mini App Wallet will be fully open source. We intend to release the source code under the MIT License, which allows anyone to inspect, modify, and contribute to the development of the project.

The following components will be open-source throughout the project's lifecycle:

1. Wallet Core Functionality: Including ADA management (sending, receiving, and storing) and DeFi access.
2. Whale Watcher Feature: The code for tracking large Cardano transactions and significant market insights will also be open-source.
3. Security Integrations: Including multi-signature and biometric authentication, allowing the community to audit and improve security features.

The code repository will be hosted on GitHub, and we will actively engage the Cardano community to contribute to the project’s ongoing development and innovation.

[METADATA] Horizons

Wallet

[SOLUTION] Please describe your proposed solution

The Problem We’re Solving:

Currently, there is no comprehensive, user-friendly wallet for managing ADA and accessing Cardano’s DeFi ecosystem within the Telegram Mini App environment. Users face difficulty in securely managing their assets, monitoring market movements, and participating in DeFi activities—all within a single, integrated interface. Additionally, there is a lack of tools that provide real-time market insights, such as tracking large ADA transactions by whales, which could offer valuable data to users for decision-making.

Our Approach:

We will create a Cardano Telegram Mini App Wallet that combines wallet functionality with DeFi integration and a Whale Watcher feature. By embedding this app into Telegram’s Mini App ecosystem, we ensure that users can manage their ADA, engage in DeFi activities like staking, lending, and token swaps, and monitor large transactions in real time—all in one place. This makes the app more accessible to a wider audience, from everyday users to DeFi enthusiasts.

Why This Approach?:

• Convenience: We chose to develop this solution as a Telegram Mini App to leverage Telegram’s global user base and integrate seamlessly into a platform that many users already rely on daily for communication and business.
• DeFi Accessibility: By building DeFi features directly into the wallet, users can engage with Cardano's staking and lending protocols without leaving the app.
• Market Insights via Whale Watcher: Monitoring large transactions by whales provides valuable market insights that can inform investment decisions. By offering this feature, we empower users to stay informed and better navigate the Cardano ecosystem.

Who Will Our Project Engage?:

• Everyday Cardano Users: People looking for a secure, user-friendly wallet to manage their ADA will benefit from the intuitive interface and real-time market insights.
• DeFi Enthusiasts: Users interested in participating in staking, lending, or token swapping will have seamless access to these DeFi features without leaving Telegram.
• Cardano Investors: The Whale Watcher feature will engage users who want to monitor large Cardano holders and significant transactions to stay informed of market movements.
• Developers and Contributors: Since the project will be open source, we will engage the Cardano development community to contribute and enhance the app’s capabilities.

Demonstrating Impact:

We will measure the impact of the app through the following metrics:

1. User Adoption and Engagement: Track the number of active users, including the frequency of transactions and DeFi activities.
2. Whale Watcher Feature Usage: Monitor how often users engage with whale tracking and how this influences their transaction behavior.
3. DeFi Participation: Track the number of users who stake ADA, lend assets, or engage in token swaps within the app.
4. Security Metrics: Regularly review the number of transactions secured using multi-signature and biometric authentication to gauge user trust in the platform.

Unique Aspects of Our Solution:

• All-in-One Functionality: Unlike most existing wallets, which focus solely on storage and transactions, our solution integrates wallet management, DeFi participation, and real-time market insights through the Whale Watcher feature.
• Telegram Integration: By offering this functionality as a Telegram Mini App, we provide users with a familiar, accessible platform, lowering the barrier to entry for Cardano and DeFi users.
• Real-Time Whale Insights: The Whale Watcher feature is a unique addition that allows users to monitor large ADA transactions and make informed investment decisions based on real-time data.

Why This is Important for Cardano:

The Cardano Telegram Mini App Wallet will drive adoption of Cardano’s blockchain by making ADA management, DeFi participation, and real-time market insights more accessible. This will enhance user engagement with Cardano’s ecosystem, attracting both new and experienced users to the platform. Additionally, the open-source nature of the project will foster community collaboration and innovation, showcasing Cardano’s commitment to decentralization and community-driven development.

This project is aligned with Cardano’s vision of financial inclusion and decentralized solutions, making blockchain technology accessible and useful for everyday users while empowering them with advanced tools for better financial decision-making.

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

Value to the Cardano Community:

The Cardano Telegram Mini App Wallet will bring substantial value to the Cardano community by providing users with an easy-to-use, comprehensive tool to manage their ADA, participate in DeFi, and gain market insights. Here's how it will positively impact the community:

1. Increased Adoption of Cardano:

• By offering a seamless, user-friendly wallet within the widely used Telegram app, this project will attract both new users and experienced crypto enthusiasts. The integration with DeFi features makes it easier for users to access and engage with the broader Cardano ecosystem, driving wider adoption.

1. Improved Market Insights:

• The Whale Watcher feature will empower users by providing real-time data on whale activities (large ADA transactions) and significant market movements. This enhances users’ ability to make informed decisions, contributing to better market transparency.

1. Enhanced DeFi Participation:

• By integrating staking, lending, and token swapping functionalities, the app will make it easier for users to participate in Cardano’s DeFi ecosystem. This will increase DeFi engagement and contribute to the liquidity of Cardano’s decentralized finance platforms.

1. Security and Trust:

• The use of multi-signature support and biometric authentication will provide users with advanced security features, increasing trust in the app and in Cardano’s blockchain. This will lead to broader participation from users who prioritize security in managing their digital assets.

Measuring the Impact:

We will measure the impact of our project using both quantitative and qualitative metrics:

1. User Adoption:

• We will track the number of active users of the Telegram Mini App Wallet. A high rate of adoption will be a key indicator of the app's success in the Cardano ecosystem.

1. DeFi Participation:

• We will monitor staking, lending, and token swaps conducted through the app, measuring the level of engagement with Cardano’s DeFi features.

1. Whale Watcher Feature Engagement:

• The usage of the Whale Watcher feature will be tracked, including the number of users monitoring large ADA transactions and the extent to which this information impacts their own transaction behavior.

1. Security Metrics:

• We will measure the number of users opting for multi-signature wallets and biometric authentication, reflecting the trust users place in the platform’s security measures.

1. User Feedback:

• Collect qualitative data from users through feedback surveys and reviews to assess how the app is improving their experience with managing ADA and engaging in the Cardano ecosystem.

Sharing Outputs and Opportunities

We will ensure that the wider Cardano community benefits from our project by sharing outputs in the following ways:

1. Open-Source Contributions

• As an open-source project, all code will be publicly available on GitHub. This will allow the community to review, contribute, and improve upon the project, fostering innovation and collaboration within the ecosystem.

1. Public Reports and Case Studies:

• We will publish regular progress report and case studies on the impact of the app, including user adoption rates, DeFi engagement, and feedback from users. These reports will be available to the community and can help inform future projects.

1. Community Engagement and Educational Content:

• We will create guides, tutorials, and webinars to educate users on how to use the wallet, engage with DeFi, and leverage the Whale Watcher feature. This content will be shared with the broader Cardano community through social media and Cardano forums.

1. Collaboration with Developers:

• We will actively engage with developers in the Cardano community through platforms like Discord, Telegram, and Project Catalyst channels, encouraging collaboration and the development of new features for the app.

accessible platform that enables ADA management, DeFi access, and real-time market insights, we aim to contribute to the long-term growth of the Cardano ecosystem, while fostering a decentralized, community-driven approach.

[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 Capability to Deliver the Project:

We have assembled a team of experienced professionals with the necessary skills to develop and deliver the Cardano Telegram Mini App Wallet. Our team has extensive expertise in blockchain development, security, and UI/UX design, as well as experience in building DeFi applications on the Cardano platform.

1. Blockchain Developers:

• Our developers have a proven track record of building Cardano-based decentralized applications (dApps) and are proficient in using Cardano’s Plutus smart contract language. They have worked on multiple DeFi integrations and blockchain wallets, making them well-equipped to handle the technical complexity of this project.

1. Security Experts:

• We have a dedicated team of security specialists with deep expertise in implementing multi-signature wallets, biometric authentication, and conducting security audits. Our team has experience working on Cardano security protocols, ensuring that the wallet will meet the highest security standards.

1. UI/UX Designers:

• Our design team specializes in creating user-friendly interfaces that simplify complex functionalities for everyday users. Their experience in developing wallet interfaces and DeFi dashboards will ensure the app provides an intuitive experience for users on Telegram.

1. Project Management:

• We have a project manager with experience in delivering blockchain-based solutions from planning to execution. Our project manager will oversee the timely delivery of milestones, manage communication between teams, and ensure that all tasks align with the project’s goals.

Validating Feasibility:

We have already conducted an extensive feasibility study and laid out a clear, actionable roadmap to ensure the successful delivery of the Cardano Telegram Mini App Wallet. Here’s how we will validate the feasibility of our approach:

1. Prototype Development:

• We have already developed a prototype for the basic wallet functionality, including ADA transfers and transaction history. This prototype has demonstrated the core functionality needed to move forward with the full app.

1. Integration with Telegram’s Mini App API:

• Our team has engaged with the Telegram Mini App framework and successfully tested integration with its API. This ensures that we can seamlessly embed the wallet into the Telegram ecosystem without technical barriers.

1. Security Audits:

• We will engage third-party security auditors to ensure the app meets all security requirements. Our past work with blockchain security protocols has equipped us to handle vulnerabilities and provide a highly secure solution for users.

1. User Testing and Feedback:

• During the pilot phase, we will onboard a controlled group of users to test the app's functionality and provide feedback. This allows us to refine the app before the public launch, ensuring usability and responsiveness to user needs.

Managing Funds with Accountability:

We understand the importance of transparency and accountability when managing funds. We have implemented the following processes to ensure that resources are managed responsibly

1. Milestone-Based Fund Allocation:

• Funds will be released in phases, tied to the successful completion of key milestones. Each milestone will have clearly defined deliverables, such as the development of wallet functionality, DeFi integration, and Whale Watcher feature deployment.
• Before moving to the next phase, we will provide detailed progress reports to demonstrate that the funds are being used appropriately and efficiently.

1. Transparent Financial Reporting:

• We will maintain detailed financial records and submit monthly financial reports to the Cardano Project Catalyst community. These reports will outline how funds are being allocated and ensure that we remain within the proposed budget.
• We will also maintain transparency by publishing updates on open-source repositories (e.g., GitHub) to show the ongoing progress of development and any changes made.

1. External Audits:

• We will engage an external auditor to review financial statements and ensure that funds are being used in accordance with the project plan. This third-party audit will ensure transparency and build trust with the community.

1. Project Management Tools:

• We will use project management software such as Trello or JIRA to track tasks, manage deadlines, and maintain real-time visibility into project progress. These tools will help us ensure that resources are allocated efficiently and that deadlines are met.

1. Experience with Fund Management:

• Our team has previously managed blockchain-based projects and successfully delivered them within the allocated budget. We have experience working on grant-based projects and are familiar with the requirements for responsible fund management in open-source development.

Our team is well-equipped to deliver the Cardano Telegram Mini App Wallet with high levels of trust and accountability. Through milestone-based fund allocation, financial transparency, and security audits, we will ensure that the project is delivered efficiently and securely. Our experience in blockchain development, combined with our structured approach to project management, makes us the ideal team to bring this project to fruition.

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

 Research and Prototype Development (Month 1-3)

• Objective: Complete detailed research and planning, followed by the development of a prototype for the wallet’s core features (sending, receiving, and storing ADA).

• Deliverables:

• Research report on wallet functionalities and DeFi integration.
• Development of a working prototype that supports basic ADA transactions.
• User interface design and initial integration with Telegram Mini App framework.

• Acceptance Criteria: Prototype with working ADA send/receive functionality and a report on platform architecture and DeFi integration plans.

Full Wallet Development and Security Features (Month 4-6)

• Objective: Build out the full wallet functionalities, integrate multi-signature support, and add biometric authentication for enhanced security.

• Deliverables:

• Implementation of multi-signature support to enhance transaction security.
• Integration of biometric authentication (fingerprint/face recognition).
• Completion of transaction history tracking and detailed UI/UX for user interaction.
• Initial security audit to identify potential vulnerabilities.

• Acceptance Criteria: Fully functional wallet with ADA management and security features, with positive results from the first security audit.

 DeFi Integration and Whale Watcher Feature (Month 7-9)

• Objective: Integrate DeFi access (staking, lending, and token swapping) and develop the Whale Watcher feature for tracking large ADA holders and significant transactions.
• Deliverables:
• Integration with Cardano DeFi platforms for staking, lending, and swapping tokens within the app.
• Development of the Whale Watcher tool to provide real-time monitoring of large ADA transactions.
• Conduct beta testing with a small group of users to refine DeFi features and the Whale Watcher tool.

• Acceptance Criteria: Completed DeFi access, Whale Watcher feature functioning with real-time data, and feedback from the beta testing phase.

Final Development and Public Launch (Month 10-12)

• Objective: Finalize development based on feedback, conduct full-scale security audits, and prepare for the public launch.

• Deliverables:

• Full security audit from a third-party firm to ensure the app meets the highest security standards.
• Final updates to the wallet based on user feedback from the beta phase.
• Launch of a marketing campaign targeting Cardano users and DeFi communities.
• Launch the wallet as a public Telegram Mini App, available to all users.

• Acceptance Criteria: Completed security audit, final app ready for public use, and successful marketing campaign launch.

 Project Close-out Report and Video (End of Month 12)

• Objective: Provide a final report and video summarizing the project’s progress, impact, and success.

• Deliverables:

• Project close-out report documenting key achievements, development process, and user engagement metrics.
• Video presentation highlighting the app’s features, the impact of the Whale Watcher tool, and feedback from users and developers.
• Submission of the report and video to Project Catalyst.

• Acceptance Criteria: Submission of the project close-out report and video showcasing the final product and its contributions to the Cardano ecosystem.

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

1. Djibril – Project Lead & Blockchain Developer

• Role: Djibril will lead the project and handle the core development of the Cardano Telegram Mini App Wallet, including wallet functionality, DeFi integration, and the Whale Watcher feature. With extensive experience in blockchain development and contributions to various projects, Djibril will oversee all technical aspects of the project.
• GitHub: Djibril's GitHub Profile
• Linkedin: https://www.linkedin.com/in/djibril-konate-a739a2280/
• Experience: Djibril has worked on severa projects, demonstrating his technical expertise and commitment t. His GitHub repository showcases his work in web development, and cryptocurrency-related applications.

1. Gashu Wendawke (ገላጋይ) - Front end developer

• Role: The UI/UX designer will focus on developing a user-friendly and intuitive interface for the wallet and DeFi platform. They will ensure that the app is accessible to both novice and experienced users within the Telegram Mini App framework.
• Required Skills: Experience in designing blockchain wallets and DeFi dashboards, with a strong understanding of user-centric design principles. The designer will create seamless navigation for users engaging in ADA transactions, staking, and whale tracking.
• LinkedIn:https://www.linkedin.com/in/gashu-wendawke-%E1%8C%88%E1%88%8B%E1%8C%8B%E1%8B%AD-731603148/

Eshetu Assefa - Backend

• Role: The security specialist will be responsible for integrating multi-signature support, biometric authentication, and ensuring the app meets the highest security standards. They will also manage security audits and vulnerability assessments.
• Required Skills: Expertise in blockchain security, smart contract audits, and experience working with Cardano’s Plutus smart contracts.
• linkedin: https://www.linkedin.com/in/eshetu-assefa-576033299/

4. Project Manager (To Be Recruited)

• Role: The project manager will oversee the project timeline, ensuring that all milestones are met, and the project is delivered on time and within budget. They will manage communication between team members and external partners, as well as coordinate beta testing and public launch activities.
• Required Skills: Strong experience in blockchain project management, with a focus on decentralized application development and team coordination.

5. Marketing and Community Manager (To Be Recruited)

• Role: This individual will be responsible for handling the marketing campaign, engaging the Cardano community, and promoting the wallet within Telegram and other channels. They will also handle user onboarding and community feedback.
• Required Skills: Experience in blockchain marketing, community engagement, and building outreach campaigns targeting Cardano and DeFi enthusiasts.

Engagement with Resources:

Djibril has already started engaging with relevant communities and technical channels, including Cardano developer forums, Telegram groups, and Discord communities. His contributions to the open-source Cardano ecosystem have provided access to valuable resources, including developer support, auditors, and technical consultants who will assist during the project.

Djibril has also initiated discussions with security auditors and UI/UX designers who have expressed interest in contributing to the project. Additionally, recruitment for the security specialist, project manager, and marketing team will begin immediately after funding approval to ensure that the project has the required expertise in place.

Djibril’s experience, combined with a well-structured recruitment plan, ensures that the project will have the necessary resources to deliver a secure, user-friendly, and fully functional Cardano Telegram Mini App Wallet. The team is committed to transparency, timely delivery, and providing the Cardano community with a groundbreaking tool for managing ADA, engaging with DeFi, and gaining market insights through the Whale Watcher feature.

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

We are requesting 180,000 ADA to cover the full development, implementation, marketing, and security of the Cardano Telegram Mini App Wallet over a 12-month project timeline. Below is a detailed breakdown of the proposed costs:

1. Platform Development (65,000 ADA)

• Core Wallet Development (30,000 ADA):
• Development of basic wallet functionalities, including ADA transactions, transaction history, and storage.
• DeFi Integration (20,000 ADA):
• Integration of staking, lending, and token swapping features into the wallet.
• Whale Watcher Feature (15,000 ADA):
• Development of the Whale Watcher tool, which tracks large ADA transactions and provides real-time insights into whale movements.

2. Security Audits (25,000 ADA)

• Initial Security Audit (15,000 ADA):
• Hire a third-party auditor to conduct an audit on the wallet’s smart contracts and DeFi features to ensure the security of user funds.
• Ongoing Security Checks (10,000 ADA):
• Continuous security audits throughout the development cycle and post-launch, focusing on the Whale Watcher feature, multi-signature support, and biometric authentication.

3. UI/UX Design and Testing (20,000 ADA)

• User Interface and Experience Design (15,000 ADA):
• Design and development of an intuitive, user-friendly interface for both Telegram mobile users and desktop platforms.
• Beta Testing & Feedback Integration (5,000 ADA):
• Organize beta testing for a group of users to identify any usability issues and gather feedback to improve the app before the public release.

4. Marketing and Community Engagement (25,000 ADA)

• Marketing Campaign (15,000 ADA):
• A dedicated marketing campaign to promote the wallet to the Cardano community, Telegram users, and DeFi enthusiasts. This includes social media promotions, community outreach, and partnership building.
• Educational Content (5,000 ADA):
• Creation of educational guides, videos, and tutorials to onboard new users and explain wallet functionalities.
• Community Management (5,000 ADA):
• Ongoing community engagement to support user onboarding, answer questions, and build a user base for the wallet.

5. Project Management (20,000 ADA)

• Project Manager Salary (10,000 ADA):
• A dedicated project manager to oversee the timeline, deliverables, and ensure coordination between development, security, and marketing teams.
• Project Management Tools (5,000 ADA):
• Subscriptions to project management tools like JIRA, Trello, or other collaboration platforms to keep the team organized and ensure the project runs smoothly.
• Reporting and Documentation (5,000 ADA):
• Preparing monthly reports, updates for the Cardano community, and documentation of the wallet's progress and development.

6. Security Features & Integration (15,000 ADA)

• Multi-Signature Support (7,000 ADA):
• Implementing multi-signature wallets to enhance security and prevent unauthorized transactions.
• Biometric Authentication (8,000 ADA):
• Adding biometric authentication (fingerprint/face ID) for an additional layer of security and ease of use.

7. Post-Launch Maintenance and Updates (10,000 ADA)

• Ongoing Maintenance (5,000 ADA):
• Post-launch maintenance to address bug fixes, security patches, and user support.
• Feature Updates (5,000 ADA):
• Continuous development of new features based on user feedback and emerging trends in the Cardano ecosystem.

Third-Party Services and Tools

• Telegram Mini App Integration: We will be leveraging Telegram's Mini App API, which is open and available for integration. No additional costs are associated with using Telegram's framework.
• Security Audits: We will engage with third-party security firms that specialize in blockchain security to ensure the integrity of the platform.
• Project Management Tools: Tools like Trello, Slack, and JIRA will be utilized to manage the team and tasks effectively, ensuring transparency and timely execution.

Total Requested Funds: 180,000 ADA

Additional Funding Sources

In the event that the project requires additional funds for further scaling post-launch, we plan to engage with partners in the Cardano ecosystem and DeFi projects for potential funding opportunities. Additionally, we will explore potential revenue models from DeFi partnerships and whale data services to ensure long-term sustainability.

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

The Cardano Telegram Mini App Wallet represents exceptional value for the Cardano ecosystem by introducing a feature-rich, accessible, and secure wallet integrated within Telegram. The requested funding of 180,000 ADA is aligned with industry standards and provides significant value in several ways:

1. Justification of Costs

• Development Costs

• The budget for wallet development, DeFi integration, and Whale Watcher feature (65,000 ADA) reflects the complexity of developing secure, real-time blockchain features. The development costs are proportionate to the typical freelance rates for experienced Cardano blockchain developers, which range from $50 to $100 per hour depending on their expertise in Plutus smart contracts and blockchain security.
• Similarly, the integration of multi-signature support and biometric authentication requires specialized skills in blockchain security, which justifies the additional allocation of 15,000 ADA for security features.

• Security Audits:
• The allocation of 25,000 ADA for security audits is a critical investment in ensuring the safety and integrity of the platform. These audits will prevent security breaches, safeguard user assets, and increase trust in the Cardano ecosystem. Engaging with specialized security firms will provide the platform with comprehensive reviews and ensure long-term reliability.

• UI/UX and Testing:
• Allocating 20,000 ADA for UI/UX design and beta testing ensures that the platform is not only functional but also accessible and user-friendly. User experience is vital for broad adoption, and our goal is to create an interface that will appeal to both beginners and advanced users, making it easy to manage ADA and DeFi activities.

• Marketing and Community Engagement:
• The budget for marketing and community engagement (25,000 ADA) is proportionate to the scope of promoting the wallet to the Cardano community, Telegram users, and DeFi enthusiasts. These efforts will drive widespread adoption, creating lasting benefits for the ecosystem by bringing in more users and increasing engagement with Cardano DeFi protocols.

2. Long-Term Value for the Cardano Ecosystem:

• Increased Adoption:
• By integrating ADA management and DeFi functionality directly into Telegram, a platform with millions of active users, this project will significantly boost Cardano adoption. New users who may not have had direct exposure to Cardano will now have a simple, intuitive way to interact with the blockchain.

• Market Intelligence via Whale Watcher:
• The Whale Watcher feature provides users with market insights that are not readily available elsewhere, empowering them to make informed decisions. This feature will elevate the ecosystem by creating more engaged and informed investors.

• DeFi Growth:
• As Cardano’s DeFi ecosystem continues to grow, this wallet will serve as a gateway for users to easily participate in staking, lending, and token swapping without leaving the app. This increases liquidity in the ecosystem and drives demand for ADA and related assets.

• Open-Source Contribution:
• By being an open-source project, the platform will contribute to the broader development community. Developers will be able to build on the wallet’s codebase, adding further innovations and features. This contributes to community-driven innovation, benefiting the entire Cardano ecosystem.

3. Cost-Efficiency Compared to Industry Standards:

• Similar Projects in the Market:
• Comparable wallet projects with integrated DeFi features typically cost upwards of $300,000 to $500,000 due to the complexity of blockchain development and security requirements. Our project’s request of 180,000 ADA (which is approximately $50,000 - $60,000 USD, depending on ADA’s market value) represents a highly cost-effective solution for delivering a comprehensive product to the ecosystem.
• Leverage on Telegram’s Ecosystem:
• By integrating into the Telegram Mini App framework, we reduce infrastructure and operational costs. Instead of building a standalone wallet, leveraging Telegram’s global reach lowers the costs of user acquisition, making it more affordable to onboard a wide audience into Cardano’s ecosystem.

4. Scalability and Sustainability:

• Scalability:
• The wallet is designed to be scalable, meaning it can handle an increasing number of users and transactions as the Cardano ecosystem grows. Future updates and improvements will ensure that it remains relevant and valuable to the community over time.
• Sustainability:
• We will ensure the wallet’s sustainability by continuously engaging with the community, implementing user feedback, and exploring additional revenue models (such as partnerships with DeFi projects or whale tracking data services). This will help fund future improvements and expansions without needing additional grants.

The 180,000 ADA request is not only justified by the development, security, and marketing costs but also represents exceptional value for the Cardano ecosystem. This project will bring a user-friendly, secure, and innovative platform to thousands of users while driving Cardano adoption, DeFi participation, and community engagement. By strategically allocating funds to core areas like development, security, and user experience, we ensure that this project provides long-term benefits and grows with the ecosystem.