Peer-to-peer Cryptocurrency Market

Create a decentralized, non-custodial, peer-to-peer exchange that would allow users to transact with each other to buy and sell cryptocurrencies, leveraging the Cardano ecosystem. The application should have the following functionality:

• Allow users to post offers to exchange cryptocurrency for either fiat or other cryptocurrency.
• Allow users to browse existing offers and take offers that match their criteria.
• Leverages the Marlowe escrow capabilities to allow trust-less exchanges.
• Allow for metadata about users to be tracked, such as how long has the user been a part of the marketplace and how many successful trades the user has completed.
• Allow for a trade to be submitted to community arbitration upon request by the participants.
• Allow for the community of traders, arbitrators, maintainers and developers to govern the marketplace and decide on topics like:
• Fiat currencies accepted.
• Fiat payment methods accepted.
• Cryptocurrencies accepted.
• Trading rules and etiquette.
• Arbitration process rules.

To accomplish this, the project will be conducted in phases and this proposal encompasses the initial phase of creating the high-level technical solution and estimating the effort and timeline for accomplishing the goals listed above.

Phase 1 Goals

• Establish an online presence for the marketplace community, with a basic website and channels for discussion (forum, chat).
• Establish the open-source repositories for code and documentation.
• Determine the most adequate platform to develop the application so that it can be run under the most common operating systems and integrate with the Cardano blockchain.
• Determine the functionality that will be handled by Marlowe smart contracts, blockchain metadata, and the functionality that will be handled by the application off-chain.
• Publish the plan for Phase 2, its goals and budget.

Phase 1 Budget

Total: $6,000.00

• Web Presence: $1,000.00
• Research and Design: $5,000 (100 hours @ $50.00 per hour)