Konmaswap a DEX for Cardano

Problem:

Lack of a unified platform bridging various Dapps where users can utilize all DeFi services under one domain.

Requirement:

A platform that offers seamless transition with a robust decentralization and resilience protocol for DeFi users and developers to move from other ecosystems to the Cardano chain. This platform will help migration and bridge an easy-to-use DEX for current and new users.

Description:

DEX's are an important part of the new paradigm shift web3 is bringing along. Cardano being a Gen III chain has to catch up to traditional options such as the more considered smart contract platform (ETH) and its advisories. A DEX plays a vital role in holding liquidity to further act as a platform for trading. Konma swap plans to bring in multiple modules of DeFi services under one domain. This will include a traditional DEX, an NFT marketplace, a DAO voting section and a section to provide lending and staking. This ensures that developers will be able to run ICO procedures and simultaneously list coins on the DEX. Furthermore, the users will be able to mint NFTs and utilize staking and lending protocols and help users & developers transition from other ecosystems such as Ethereum and Solana to the Cardano chain that will feature a cross-collaboration across protocols

Goal: 

To successfully complete all phases over the next 1 year

• Phase I - Dex and sales tools
• Phase II - Staking, lending and voting
• Phase III - NFT Marketplace

Requirement:

• Phase I desired outcome - working DEX and Sales tools (ICO) $75,000 approx
• Phase II desired outcome - working staking and lending section of the DEX $50,000 approx
• Phase III desired outcome - Working NFT marketplace $50,000 approx

Description:

• Development and deployment of the DApps and having an average trade volume of few hundred thousand.
• An easy to use DEX with all DeFi services

Demographics:

• The primary demographic for developers and traders will be from other ecosystems
• Secondary demographic will be South-East Asian countries
• The tertiary demographic will be Asia
• Newcomers to the crypto & blockchain space and veteran users from other chains and institutions such as Cardano, Konma & Mlabs will be highly benefited.

Action Plan:

• We would firstly work on strategic collaboration with either EMURGO India and/or Mlabs for Devs.
• Start development procedures with the Devs.
• The market for the DEX and bring in more fungible tokens.
• Provide education on creating and utilizing shelly era wallets.
• Bring in new users from other ecosystems.
• Bring in web2 Devs and teach them web3.
• Create project management board and Git repo.
• Invite Devs, Sr Devs and chief blockchain engineer.
• Initiate development procedures and stick to the timeline.
• Deliver goals at milestones.
• Audit contracts and Dapps.
• ICO phase
• Release

We have an experienced blockchain engineer to overlook the project and product and will collaborate with more Devs. We will also be placing easy to meet deadlines and project goals

Road Map:

Week 1 & 2 – Acquire Haskell/Plutus web3 developers

Week 3 & 4 – Set up design architecture for DEX

Week 5 & 6 – DAO decision making for DEX

Week 7 & 8 – Develop code for DEX

Week 9 & 10 – Development and deployment

Week 11 & 12 – Development and deployment web3 frontend/website

Week 13 & 14 – Development and deployment wallet integration

Week 15 & 16 – Auditing

Week 17 & 18 – Website integration and community collaboration campaigns

Week 19 & 20 – Beta Test on test net

Week 21 & 22 – QA

Week 23 & 24 – ICO

Phase I at the end of 6 months

Project KPI:

• Number of trades conducted in the platform, TVL, number of concurrent users, valuation of liquidity pool and stake pool, trade volumes.
• Bi-weekly goal check by consultants from Mlabs, IOHK and Emurgo.
• We will ensure we are at least one week ahead of the designed plan.
• Ensuring monthly goals are achieved.

Product KPI

• Large User base
• High TVL
• Well audited ICO listings
• Large volumes of NFT Marketplace Transactions
• High Trading Volumes (FT/NFT)

Skills Required:

• Project/ Product Development skills
• Blockchain Engineering skills
• Web3 Development skills
• Version control
• Auditing
• Governance model design
• Tokenomics Design

Fluent communication capabilities, stakeholders informing capabilities, management and blockchain awareness, Cardano CIP standards

Budget Breakdown: Total - $ 73,600

Funds will be used towards:

Jr Developers, Sr Developers, Chief Blockchain Engineer, Community Collaboration, Auditing, Web3 Front End, Liquidity Pool, Domain purchase, Computer systems (peripherals, monitors and CPU's) for development, tools for project management and collaboration (Trello, Slack etc).

• DEX development - $ 5000 (Engineering hours for development of index protocol, integration with Cardano asset sources, and testing.)

• DAO Governance for DEX - $ 5000

• UI/UX - $12,800 -$ 80 /hour for 160 hours (Immersive trading experience)

• Front-end - $12,800 - $ 80 /hour for 160 hours (Engineering hours for front-end design)

• Back-end - $14,400 - $ 120 /hour for 120 hours(How to verify price Oracles, how to price an illiquid asset, how to derive reliable pricing data from multiple sources, what's the optimal MPT - modern portfolio theory, market efficient curve etc.)

• Web3 integration - $9,600 - $ 120 /hour for 80 hours (Engineering hours for development of index protocol, integration with Cardano asset sources, and testing)

• Audit - $2,000 (Auditing the Dapp and contracts)

• Consultations - $2,000 - $ 100 /hour for 20 hours (Consultations with collaborative associations)

• Infrastructure - $5,000

• CPU

• Monitor

• Peripherals

• Liquidity Pool $5,000

IP

Konma DEX will remain a product for Konma and by Konma for the Cardano Ecosystem, it utilizes the MIT open-source license protocol. Konma is Trademarked.

All copyrights reserved 2021

Want to know more about KONMA? Click the link below

https://linktr.ee/konma

This proposal is just a part of the bigger picture. To get a better idea read our other proposals here:

https://linktr.ee/KonmaCatalystFund7