Cardano Shitcoin Generator: Easily Create Tokens on Cardano

[GENERAL] Name and surname of main applicant

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

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

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

We will build an easy-to-use app that allows users to create and launch tokens (including meme coins) on Cardano, enabling anyone to create a token with minimal technical knowledge.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

[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?

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

The project will be released under the MIT License, ensuring transparency and granting developers the freedom to use, modify, and distribute the code without restrictions. The code will be hosted on GitHub, providing an open and collaborative platform for engagement with the community.

[METADATA] Horizons

[SOLUTION] Please describe your proposed solution

The creation of tokens, especially meme coins or community-driven tokens, has become a viral phenomenon on several blockchains, such as Solana. These "shitcoins" often have no inherent utility but allow individuals and communities to engage with blockchain technology in a fun, creative, or educational way. However, on Cardano, the process of creating a token requires coding skills and technical knowledge, limiting participation.

Our solution is to develop a Shitcoin Generator App for the Cardano blockchain. This app will:

• Allow users to create tokens easily with a simple, intuitive user interface that doesn't require coding skills or blockchain development knowledge.
• Provide token customization options, such as name, supply, decimals, and more, so users can experiment with different types of tokens.
• Enable instant token deployment on Cardano’s testnet and mainnet, allowing users to experiment in a low-risk environment before committing real resources.
• Generate novelty and educational tokens: Communities, small groups, and influencers can use these tokens for fun, social experiments, or educational projects.

The Shitcoin Generator addresses the problem by lowering the technical barrier for token creation on Cardano. It opens up the process to newcomers, casual users, and creators who want to engage with the ecosystem without deep technical expertise. The app will engage:

• New users interested in blockchain experimentation: Individuals curious about token creation who want to learn in a fun and easy way.
• Community creators and influencers: People who want to create fun or novelty tokens for their community engagement or social activities.
• Educators: Those who want to teach blockchain concepts through hands-on token creation.

We will demonstrate our impact by:

• Tracking the number of tokens created on the platform.
• Monitoring the adoption rate among non-technical users.
• Collecting feedback from users on ease of use and engagement.

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

Our Shitcoin Generator will have a positive impact on the Cardano ecosystem by:

• Increasing accessibility: The app will lower the barriers for token creation, making it easier for anyone to experiment and engage with Cardano.
• Fostering creativity and innovation: By allowing users to easily create meme coins or community tokens, we will promote fun and experimental use cases of blockchain technology.
• Growing the Cardano user base: As more people can easily create and share tokens, it will attract new users and bring fresh energy to the Cardano ecosystem.

We will measure the success and impact of the project by:

• Number of tokens created: Tracking the volume of tokens generated and deployed on Cardano’s testnet and mainnet.
• User adoption and engagement: Monitoring the number of users interacting with the app and the range of token types created.
• Feedback from the community: Engaging users to improve the app and adding features based on their feedback.

Outputs and opportunities will be shared through:

• Educational tutorials and workshops: Helping users understand token creation and blockchain concepts using the app.
• Open-source contributions: Inviting developers to contribute to the app's ongoing development.
• Social media campaigns: Encouraging communities and influencers to create their own novelty tokens and share them with their audience, promoting Cardano’s creative potential.

[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?

I am a full stack blockchain developer with a very good experience in developing decentralized applications(Dapps) for years, I have a good track record of delivering solutions with a focus on trust, security and accountability. Additionally, I am supported by a highly skilled team of professionals who bring diverse expertise to the project.

I have successfully completed numerous projects in the blockchain space, ranging from decentralized finance (DeFi) platforms to supply chain management solutions, all of which have been delivered with high levels of trust and accountability.

Furthermore, I plan to diversify our team by hiring another seasoned Cardano developer, complementing our existing expertise and broadening our skill set. This would help our team to tackle the problems in different perspectives.

To ensure the reliability and security of our project, we employ rigorous quality assurance and testing practices throughout the development lifecycle. This includes comprehensive unit testing, integration testing, and end-to-end testing to validate the functionality and robustness of our application. Additionally, we conduct regular code reviews, security audits, and compliance checks to uphold the highest standards of quality and integrity.

In summary, our project benefits from a wealth of experience, a dedicated team of professionals, and a rigorous approach to quality assurance and feasibility validation. I am confident in our ability to deliver the project with high levels of trust and accountability while ensuring that our approach is feasible and well-validated.

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

Project Initiation and Planning (Duration: 1 month)

Outputs:

• Define project scope, objectives, and requirements.
• Develop UI/UX wireframes and prototypes for the application.
• Hire senior developer(s) to augment the team.
• Structure the project architecture and establish development workflows.

Acceptance Criteria:

• Clearly defined project documentation
• Finished UI/UX design
• Project architecture design

Development Phase (Duration: 2 months)

Outputs:

• Implement frontend and backend components of the application based on UI/UX designs.
• Integrate blockchain functionalities for token creation, transaction processing, and token verification.
• Implement features for sending/receiving created tokens, managing user accounts, and accessing transaction history.
• Conduct regular code reviews and iterations to refine and optimize codebase.

Acceptance Criteria:

• Provide a demo application
• Video showcasing the application working
• Clean open source GitHub code 

Testing and Quality Assurance (Duration: 2 months)

Outputs:

• Conduct comprehensive testing of the application, including unit tests, integration tests, and end-to-end tests.
• Perform security audits and vulnerability assessments to identify and address potential risks.
• Test application performance under various load conditions and optimize for scalability.
• Gather feedback from beta testers to identify usability issues and functional improvements.
• Iterate on codebase based on testing results and feedback to ensure a robust and reliable product.

 Acceptance Criteria:

• Provide the found issues while testing
• Working application for Demo
• Video showcasing the application working

Deployment and Launch (Duration: 1 month)

Outputs:

• Prepare for production deployment, including configuring servers, setting up databases, and deploying application code.
• Finalize documentation, user guides, and support materials for users.
• Develop marketing strategies and promotional materials to generate awareness and attract users.
• Launch the application to the public and promote through social media, forums, and industry events.
• Monitor user feedback and performance metrics post-launch and make adjustments as necessary to optimize user experience and drive adoption. 

Acceptance Criteria:

• Deployed application
• A video showing how the application works
• Social media campaigns to promote the application

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

Fraol Bereket , Senior blockchain developer and lead developer

• LinkedIn : https://www.linkedin.com/in/fraol-bereket-bekele/
• Github : https://github.com/fraolb
• Website : https://fraol-portfolio.vercel.app/
• Email : fraolbereket@gmail.com

Hire UI/UX designer

Hire Cardano blockchain developer

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

Milestone 1: Project Initiation and Planning ( 10000 ADA)

• UI/UX design = 7000 ADA
• Developer (1050 USD = 3000 ADA Monthly) =3000 ADA * 1 month = 3000 ADA

Milestone 2: Development Phase (12000 ADA)

• 2 Developers (3000 ADA Monthly) = (2* 3000 ADA* 2 month) = 12000 ADA

Milestone 3: Testing and Quality Assurance (27000 ADA)

• Testing activities (including unit tests and beta tests) = 5000 ADA
• Security audits and vulnerability assessments (working with blockchain auditors) = 10000 ADA
• 2 Developers (3000 ADA Monthly) = (2* 3000 ADA * 2 month) = 12000 ADA

Milestone 4: Deployment and Launch (6000 ADA)

• Social Media Campaign - 4000 ADA
• Post-launch monitoring and adjustments = 2000 ADA

Total: 55000 ADA (1 ADA ~ 0.35 USD)

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

On the Infrastructure, we expected to buy hosting and the AWS DB for annual use. Plus it includes some risk reserves.

The cost for developers is assumed based on freelancers minimum to average salary. 

We have 2 developers getting 1050 USD ~ 3000 ADA monthly. When we break it down. 

8 hour work daily 5 days per week 4 weeks per month = 160 hours

So the hourly rate of developers is around 6.5 USD which is the below the average salary for blockchain developers. 

For the testing purpose we are aiming to have many beta testers that will participate on using the application with some reward.

For security and audit, we are going to hire Auditor company to audit our application.