Revuto - The first CROSS-CHAIN SWAP on Cardano! Swap the most popular cryptocurrencies for Cardano Tokens and back in seconds like; BTC to IAG, SOL to SNEK, ETH to MIN, USDT to USDM...

[GENERAL] Name and surname of main applicant

Vedran Vukman

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

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

Marko Rukonic (Rux) - CTO

Dorijan Jelincic - Lead Backend Dev

Matija Tusek - Backend Dev

Josip Baketaric - Backend Dev

Marin Viskovic - Backend Dev

Robert Smolcic - Backend Dev

Dominik Dorić - Android Dev

Sebastijan Draksler - iOS Dev

Tin Blaga - Business Dev

Dani Loga - Marketing

Sanja Zeljkovic - MLRO

Ivan Mestar - Community Mng.

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

3

[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)

Revuto has a non-custodial Cardano and custodial Crypto wallet, which makes it perfect to offer the first cross-chain swap feature in a single app on Cardano to easily swap top Crypto tokens for CNTs.

[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.”

For the token swap on a Caradano non-custodial wallet, Revuto uses the DexHunter product, while on the custodial wallet, Revuto uses a Kucoin exchange Broker Account. As ADA and REVU are listed on Kucoin, Revuto will use ADA and REVU to bridge funds from the custodial to the non-custodial wallet (and vice versa) to perform a cross-chain token swap.

[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

Revuto is a proprietary product (mobile app) that offers specific services using its product ecosystem's advantages. In this case, a setup with both a non-custodial Cardano and a custodial Crypto wallet built on Fireblocks infrastructure in a single mobile app allows us to offer such a unique CROSS-CHAIN SWAP feature.

[METADATA] Horizons

Cross-chain

[SOLUTION] Please describe your proposed solution

Revuto's ultimate goal is to grow Cardano's adoption and real-world utility to a global base of users and customers. Allowing users to easily and quickly swap their most popular cryptocurrencies for Cardano native Tokens in a single and easy-to-use mobile app could be crucial for the further adoption of Cardano tokens and bridging liquidity from other blockchains to Cardano.

Revuto is a project of young crypto enthusiasts with traction building on Cardano and a proven track record. Revuto mobile app has 400k registered users worldwide, and we believe this product feature is what Cardano needs to bring more liquidity from other blockchains to its ecosystem.

Our cross-chain token swap feature will allow users to avoid painful and long-lasting steps like registering with CEXs, installing non-custodial wallets, and sending tokens to different wallets to swap the most popular cryptocurrencies for Cardano Native Tokens and vice versa. Now, all of that will be possible with a single mobile app.

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

Understanding the Problem:

Not many Cardano tokens are listed on centralized exchanges, which makes it difficult for average crypto users to exchange their crypto for Cardano native tokens. A swap feature allowing users to directly and easily swap their USDT, USDC, BTC, ETH, SOL, DOGE... and other most popular cryptocurrencies for Cardano tokens will help grow the adoption of the Cardano ecosystem. Moreover, it could bring in much-needed liquidity from other blockchains.

Approach to the Solution:

As always with its ecosystem of products, Revuto will maximally simplify the process of swapping the most popular cryptocurrencies for Cardano tokens and vice versa.

Engagement:

Revuto has 400K registered users worldwide, and its cross-chain swapp feature will allow such a significant user base to bring liquidity to the Cardano space even more efficiently. The feature could also become a great add-on to Revuto's ecosystem of products, which helps people bridge their crypto liquidity with real-world business activities. Soon, Revuto will start issuing debit cards supporting Cardano tokens for subscription payments. Allowing users to easily bring liquidity from other chains to CNT and access the debit card feature should boost Cardano's adoption.

Uniqueness:

We're one of the few apps offering an easy-to-use and approachable UIX in a mobile platform to help people easily access crypto products.

>>> IMPACT ON CARDANO <<<

By offering users approachable, valuable, and easy-to-use crypto products, we believe we can help onboard millions into Cardano.

[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?

The Revuto OU is an Estonian fintech/web3 company that is regulated and holds an electronic money license for the EU. It is also in the process of obtaining a VASP license for the EU and UK. (https://www.dnb.nl/en/public-register/information-detail/?registerCode=WFTEG&relationNumber=R188724).

• Proven Expertise and Support: The team of industry experts and financial technology specialists (Marko Rukonic, built credit scoring for Intuit, 25 peer-reviewed patents) supported by fintech and crypto advisors (Alex Garcia, ex-Moonpay).

• Proven Track Record: Since its successful ICO on Cardano in 5/2021, the Revuto team has released numerous app updates for the Revuto mobile app, integrated with many third-party services, attracted almost 400,000 registered users worldwide, and listed its REVU token on tier-1 centralized exchanges (Kucoin and Gate). Revuto has been one of the few Cardano projects building on Cardano since 2021. and is dedicated to continuing to build on Cardano to help further grow Cardano's adoption.

• Strong Community: Our supporters, followers, and token holders (Revutonians) consist of 400k subscribers to the Revuto newsletter, 26k registered users on the Revuto Discord Channel, almost 40K subscribers on Twitter (X), +25k on official Revuto Telegram channels, +10k on medium blog posts, FB, LinkedIn, and YouTube Channel. Revuto also participates in the most prominent crypto events, including Cardano Summits, and has received several awards for its work.

• Presence: Revuto was featured in CoinTelegraph, CoinBerau, Business Insider, Yahoo Finance, and many other popular crypto and fintech-related websites (news portals).

>>> Revuto submitted its first Idea Catalyst proposal in Fund 12 to start issuing Debit Cards supporting Cardano tokens. Less than three months from voting approval from the Cardano Community and getting funds to build, launch, and promote the product, Revuto will announce and launch the product at the central Cardano Summit 2024 event in Dubai. Revuto is also one of the sponsors of the same event.

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

New Product Designs and External Platform Integration

Duration: max one month

Outputs: 

• Front-end design (FIGMA) and new UX integration
• New backend design
• Integration with Kucoin (broker account) or other external exchanges for non-Cardano swaps
• Integration with the Fireblocks platform for the non-Cardano token custody
• Compliance for extending the VASP licence with a local regulator (HANFA).

Acceptance criteria: 

• UI designs in Figma are completed
• The discovery phase of the external API documentation is completed (Kucoin, Fireblocks)

Evidence of milestone completion:

• We will provide Figma (UIX) design and access to mobile apps (TestFligh, .apk)
• Bi-weekly development reports
• A short video proving milestone completion

The flow of funds across the non-custodial Cardano and custodial Crypto wallets for the cross-chain token swap implementation and new Product Testing

Duration: max one month

Outputs: 

• Operational cross-chain swap feature within non-custodial Cardano and custodial crypto wallet in the Revuto app

Acceptance criteria: 

• Integration with an external centralized exchange for the non-Cardano token swaps
• Integration with DexHunter (DEX aggregator on Cardano) for the Cardano token swaps

Evidence of milestone completion: 

• A new Revuto app update supporting the Cross-Chain Swap feature
• Bi-weekly development reports
• A short video showing the working Cross-Chain Swap feature

Official Product Launch, Growth strategies and incentives, Closing Reports

Duration: max one month

Outputs: 

• Promotion and Official launch of the cross-chain token swap feature
• Further Service announcements and promotion (crypto events, press releases)
• Final Report and video about the product in production.

Acceptance criteria: 

• Revuto's new app update supporting the cross-chain swap feature is live.

Evidence of milestone completion: 

• Revuto will provide links to the latest mobile apps (Appstore and Google Play)
• Links to paid promo and other evidence of promotional activities
• First user feedback and reports on successful product launch

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

https://www.linkedin.com/company/revuto/

Revuto Team:

Vedran Vukman | Revuto | CEO & Co-founder

LinkedIn: https://www.linkedin.com/in/vedranvukman/

X: https://twitter.com/v_vukman

Serial entrepreneur and Investor in fintech and Web3 projects. Started several companies in Silicon Valley. Passionate about crypto. Advisor at GeniusX accelerator on Cardano, member of RWA Cardano Alliance, and member of UBIK for promoting Web3 in Croatia.

Marko Rukonic | Revuto| CTO & Co-founder

For the last twenty years, Marko has been a software and AI engineer at Intuit and the author of 27 peer-reviewed patents in the financial industry. With his team, Marko beat FICOs’ credit scoring and was later used by Credit Karma. Faculty of Electrical Engineering at the University of Zagreb.

Dorijan Jelincic | Revuto | Lead Backend Dev

LinkedIn: https://www.linkedin.com/in/dorijan-jelin%C4%8Di%C4%87-099b6725/

Full-stack software developer (DevOps, Ruby On Rails, MySQL, blockchain), dipl. Ing. Automatics, University of Zagreb. Passionate about building on blockchain (built a decentralized exchange and a crypto wallet).

Tin Blaga | Revuto| Business Dev

LinkedIn: https://www.linkedin.com/in/tin-blaga/

Tin started as a community manager in Revuto, was promoted to customer service manager, later acquired by Binance, and worked in their customer support. This year, Tin returned to Revuto as a business developer to help the company grow.

Daniela Loga | Revuto | Marketing

LinkedIn: https://www.linkedin.com/in/dloga/

Dani is a highly experienced international media, communications, business, and economy specialist. A native of Silicon Beach and proud alumna of both UCLA (BA: Slavic Languages and Literatures) and St. Petersburg State University (MA: International Relations) with an interest in and commitment to fast-paced projects and output as well as a fine eye for detail and understanding of market dynamics.

Matija Tusek | 3mi-lab | Co-founder

Project manager

Josipa Baketaric | 3mi-lab | Co-founder

Backend Developer

Marin Viskovic | 3mi-lab | Co-founder

Backend Developer

Robert Smolcic | 3mi-lab | Co-founder

Backend Developer

Dominik Dorić | Revuto | in-house

Android Developer

Sebastijan Draksler | Revuto | in-house

iOS Developer

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

Milestone 1

Mobile app (UI) Designer ($3,000) + AB testings ($2,250), 20 days (160h) = 15,000 ADA ($5,250)

Project Manager: 116h over 20 days ($45/h) = 15,000 ADA ($5,250)

Backend Development: 20 days, two devs ($60/h) = 50,000 ADA ($17,500)

Frontend Development: 20 days, two devs ($60/h) = 50,000 ADA ($17,500)

Total 130,000 ADA ($45,500)

ADA = $0.35

Milestone 2

Project Manager: 20 days ($45/h) = 20,000 ADA ($7,000)

Backend Development: 20 days, three devs ($60/h, 155h p/dev) = 80,000 ADA ($28,000)

Frontend Development: 20 days, two devs ($60h) = 50,000 ADA ($17,500)

Penetration testing (contractor) = 32,000 ADA ($11,200)

Q&A tester: 10 days = 8,000 ADA ($2,800)

Total 190,000 ADA ($66,500)

ADA = $0.35

Milestone 3:

Paid promo on major Crypto and fintech news portals, presentation on one crypto event = 35,000 ADA ($12,250)

KOLs and other crypto influencers, announcements, and product promotion = 15,000 ADA ($5,250)

Total 50,000 ADA ($17,500)

ADA = $0.35

**All calculations are based on milestones lasting at least one month, but they can be extended to two months if needed. If the ADA price goes up, it will allow us to invest more funds into promotion (Milestone 3) and add more development hours on the backend and front (mobile app) to further expand the product features (add more functionality).

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

Since its successful ICO in 2021, Revuto has spent almost $7m building products on Cardano. Just listing our Cardano native token ($REVU) with Kucoin, Gate, and Bitmart (without market making and liquidity provision) cost us $1,050,000, which made $REVU one of the first Cardano Native tokens listed on tier-1 centralized exchanges. Besides product development, business and marketing activities, token listings, and hiring, Revuto invested in other Cardano projects and their tokens to reward users with free Cardano tokens and incentivize them to stay with Cardano.

Launching the feature will directly reach all Revuto registered users who have the Revtuto app installed on their mobile devices worldwide. Revuto can send them direct emails, in-app notifications, and mobile OS (system) notifications about the new feature. Below is an overview of registered users worldwide, divided by country on October 15th. 2024.

By successfully launching a CROSS-CHAIN SWAP feature within the Revuto app, we believe we can bring much-needed liquidity from other blockchains and their tokens to Cardano. Crypto users being able to quickly and directly, within a single mobile app, swap widely adopted USDT and USDC stablecoins and other most popular cryptocurrencies for Cardano tokens will help Cardano bring more users and, with it, more liquidity!!!

More importantly, having the cross-chain swap feature operational, Revuto will partner with other crypto projects to cross-promote Cardano and other crypto projects to further boost Cardano's presence among crypto users, which will undoubtedly grow Cardano's adoption among people.

Thank you.