Optim OADA Scaling Catalyst - Single-Click Buy/Sell Widget for Seamless ADA Yield Generation

[GENERAL] Name and surname of main applicant

Ethan Protas

[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)

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)

Develop single-click Buy/Sell widget for OADA to automate ADA>OADA>SOADA swaps. Easily embed into websites+dApps & reward partners with % fee =drive adoption of ADA w/ accessible competitive yield

[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?

Yes

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

All codebases and documentation developed for the Optim OADA Scale & Distribute System will be fully open sourced.

[METADATA] Horizons

DeFi

[SOLUTION] Please describe your proposed solution

We propose developing the Optim OADA Scale & Distribute System, a single-click Buy/Sell widget that automates the ADA>OADA>sOADA swapping process. This solution simplifies yield generation for retail users and enables seamless integration for websites and dApps, driving widespread adoption and liquidity within the Cardano DeFi ecosystem.

Key Components of the Optim OADA Scale & Distribute System:

Single-Click Buy/Sell Widget: Automates the swapping process from ADA to OADA to sOADA with a single click, eliminating the need for multiple manual transactions. This provides a user-friendly interface that simplifies yield generation, making it accessible even to those with limited DeFi experience.

Embeddable Integration Module: A versatile widget that can be easily embedded into any website or dApp, similar to DEXHunter’s embedded swaps. Allows partners to customize the widget’s appearance and functionality to align with their platform’s branding and user experience.

Incentivized Partner Program: Partners who embed the widget earn a fee from all user transactions, creating a revenue stream that incentivizes widespread adoption. Encourages websites and dApps to promote OADA within their platforms, expanding its reach and user base.

Comprehensive Documentation and Support: Provide detailed guides and support resources for partners to integrate and customize the widget seamlessly. Establish dedicated support channels to assist partners with the integration process and address any technical issues.

By automating the swapping process and enabling easy embedding, the Optim OADA Scale & Distribute System simplifies earning competitive ADA yields and facilitates broader distribution and adoption. This module not only enhances user convenience but also incentivizes partners to promote OADA, driving liquidity and strengthening the overall Cardano DeFi ecosystem.

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

OADA, the first of the OToken assets, has seen significant adoption in the short few months since launch with over 24 Million OADA in circulation. This unique product has contributed significantly to Cardano DeFi TVL and on-chain activity, giving an option for passive ADA yield that is competitive with ETH staking rates.

Optim OADA Scale & Distribute System will have a significant and multifaceted impact on the OADA ecosystem and the broader Cardano community by focusing on users who may not be aware of the opportunities available within Cardano’s DeFi landscape. The key impacts are as follows:

Simplifying Yield Generation for Retail Users: By automating the ADA>OADA>sOADA swapping process into a single-click action, the system removes technical barriers, making yield generation accessible to all users, regardless of their technical expertise. A streamlined process enhances user satisfaction and encourages more frequent participation in DeFi activities, increasing overall liquidity and engagement within the ecosystem.

Increasing Awareness and Education: The widget serves as an educational tool, showcasing the benefits and functionalities of OADA directly within platforms that users already frequent, thereby raising awareness about Cardano’s DeFi opportunities. Providing clear and straightforward yield generation mechanisms empowers users to take control of their financial activities without needing deep DeFi knowledge.

Driving Widespread Adoption: The embeddable widget allows websites and dApps to easily incorporate OADA’s yield generating capabilities, broadening OADA’s reach and attracting new users from diverse platforms. By earning fees for partners who embed the widget, the system incentivizes widespread adoption, ensuring that OADA’s functionalities are promoted across various online environments.

Enhancing Liquidity and Capital Efficiency: Simplifying the swapping process encourages more transactions, thereby increasing liquidity within the OADA ecosystem. Automated and efficient swapping enhances capital efficiency, ensuring that users can maximize their yields with minimal effort.

Strengthening the Ecosystem’s Robustness and Versatility: Embedding the widget across multiple websites and dApps creates a diverse distribution network, making the OADA ecosystem more resilient and adaptable to market changes. A larger and more engaged user base contributes to the overall strength, security, and scalability of the OADA protocol, benefiting all participants within the Cardano DeFi space.

Promoting Financial Inclusion: By simplifying complex DeFi processes, OADA Catalyst promotes financial inclusion, allowing a broader range of users to participate in decentralized finance and benefit from its opportunities. Retail users gain easy access to competitive ADA yields, empowering them to enhance their financial well-being through accessible and efficient DeFi tools.

The Optim OADA Scale & Distribute System will drive the adoption of Cardano’s DeFi ecosystem by making yield generation simple, accessible, and highly rewarding for retail users. By embedding seamlessly into existing platforms and incentivizing partners, this initiative will enhance liquidity, foster financial innovation, and build a more inclusive and robust DeFi community within Cardano. This comprehensive approach ensures that OADA becomes a pivotal tool for decentralized finance, empowering users and driving sustainable growth across 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?

Optim Finance boasts a proven track record of delivering innovative DeFi solutions on the Cardano blockchain. Our Liquidity Bonds dApp has safely managed over 150 million ADA, reaching Top 5 TVL on Cardano. Our new product, OADA, is approaching 25M ADA TVL in the 3 months since launch. Our team comprises seasoned experts from prominent organizations in the ecosystem such as Minswap, MLabs, and IOHK, underscoring our deep expertise and comprehensive understanding of Cardano's unique capabilities.

Our proven expertise, strategic partnerships, rigorous testing protocols, and commitment to community engagement position Optim Finance to deliver the Optim OADA Scale & Distribute System with exceptional trust and accountability. By adhering to these validation strategies, we ensure that our solution is not only feasible but also secure, user-friendly, and highly beneficial to the Cardano DeFi ecosystem.

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

Widget Development and Testing: Build the single-click Buy/Sell widget, ensuring it is user-friendly and easily embeddable into various websites and dApps. Conduct extensive testing to verify functionality, security, and user experience across different platforms.

• Milestone Output:
• Fully developed Buy/Sell widget smart contract codebase

Widget Frontend Development: Build a user friendly frontend interface for the single-click Buy/Sell widget. Ensure the design is intuitive, accessible, and easily embeddable into various websites and dApps. Focus on creating a seamless user experience that simplifies yield generation for retail users.

• Milestone Output:
• Fully Developed Frontend Interface

Strategic Partnership Development: Identify and establish partnerships with DeFi projects, platforms, and others. Negotiate collaboration terms and integrate joint initiatives to amplify the reach and impact of the widget.

• Milestone Output:
• Partnership Agreements
• Marketing initiatives (video, article, interviews, X threads)

Public Release and Promotion: Officially launch the Optim OADA Scale & Distribute System through public announcements, blog posts, and social media updates. Promote the initiative within the Cardano and broader DeFi ecosystems to drive adoption and community involvement.

• Milestone Output:
• Public repositories on GitHub or similar platforms
• Announcements through blogs, social media, and community channels
• Public launch of working Buy/Sell widget with live front-end

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

• Ethan Protas - Product Lead
• Maksymilian Brodowicz / Zygomeb - Tech Lead

Our team members have extensive experience working with Cardano and have contributed to projects like Minswap, MLabs, and IOHK. We have a clear track record of successfully delivering high-quality DeFi protocols to mainnet that are widely adopted.

Website: https://www.optim.finance/

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

Widget Development and Testing (70,000 ADA): Develop the backend infrastructure and smart contracts to automate the ADA>OADA>sOADA swapping process. Conduct extensive testing to ensure functionality, security, and user experience across different platforms. This includes modifying existing smart contracts and integrating with FluidTokens and Orcfax for enhanced functionality and security. Investing in the development and testing of the widget is crucial for ensuring that it functions seamlessly, securely, and provides an optimal user experience. Thorough testing mitigates risks and ensures reliability, fostering user trust and adoption.

Widget Frontend Development (50,000 ADA): Create a user friendly frontend interface for the Buy/Sell widget, ensuring it is intuitive, accessible, and easily embeddable into various websites and dApps. Focus on delivering a seamless user experience that simplifies yield generation for retail users. This includes UI/UX design, frontend coding, and responsive design to ensure compatibility across devices. A user-friendly frontend is essential for attracting and retaining retail users. This allocation covers the design and development of an intuitive interface that simplifies the yield generation process, making DeFi accessible to a broader audience.

Strategic Partnership Development (20,000 ADA): Identify and establish partnerships with key DeFi projects and platforms to host the OADA Widget. Negotiate collaboration terms and integrate joint initiatives to amplify the widget’s reach and impact within the Cardano and broader DeFi communities. This involves partnership negotiations, integration efforts, and joint promotional activities to enhance credibility and expand user base. Strategic partnerships amplify the widget’s reach and credibility. Collaborations with established DeFi projects and influencers provide access to larger user bases and enhance the overall value proposition of OADA.

Public Release and Promotion (10,000 ADA): Officially launch the Optim OADA Scale & Distribute System through public announcements, blog posts, and social media updates. Promote the initiative within the Cardano DeFi ecosystems to drive adoption and community involvement. This includes preparing and distributing press releases, managing public relations efforts, and tracking the impact of promotional activities on user participation and liquidity metrics. The official launch and ongoing promotion ensure that the widget reaches a wide audience and achieves its adoption goals. This allocation supports comprehensive promotional activities and measures the initiative’s impact on user participation and liquidity.

Total Budget: 150,000 ADA

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

Simplifying Yield Generation: Automating the ADA>OADA>sOADA swapping process into a single-click action makes yield generation accessible and straightforward for retail users. This simplicity encourages more users to participate in DeFi activities, driving higher liquidity and engagement within the ecosystem.

Accelerating Adoption: By embedding the widget into various websites and dApps, the system facilitates widespread distribution and adoption of OADA’s yield-generating capabilities. The incentivized partner program attracts more platforms to integrate the widget, expanding OADA’s reach and user base exponentially.

Enhancing User Experience: A user-friendly widget reduces the complexity associated with manual swaps, enhancing overall user satisfaction and retention. A positive user experience is crucial for sustained adoption and the growth of the DeFi ecosystem on Cardano.

Driving Liquidity and Capital Efficiency: Increased user participation and automated swapping processes enhance liquidity within the OADA ecosystem. Improved capital efficiency ensures that user assets are optimally utilized, contributing to the stability and growth of the DeFi platform.

Promoting Strategic Partnerships: Collaborations with key DeFi projects and influencers amplify the widget’s visibility and credibility. These partnerships not only drive adoption but also foster a collaborative environment that benefits the entire Cardano DeFi landscape.

Ensuring Security and Reliability: Comprehensive security audits and rigorous testing protocols ensure that the system is secure and reliable. This builds user trust, which is essential for the long-term success and sustainability of the OADA ecosystem.

Sustainable Growth: The budget allocation covers not only the initial development and launch but also ongoing support and optimization. This ensures that the system remains up-to-date, secure, and aligned with user needs, promoting sustainable growth within the Cardano DeFi ecosystem.

Optim OADA Scale & Distribute System is strategically positioned to maximize impact, drive user adoption, enhance liquidity, and ensure the long term success of the OADA platform. The benefits of simplified yield generation, increased adoption, enhanced user experience, and strategic partnerships far outweigh the initial costs, providing excellent value for the Cardano community.