DCAing into crypto projects manually or via exchanges, is tediously, boring, expensive (fees), centralized and non private (via exchanges).
A DApp on Cardano can auto DCA for you, according to your parameters (frequency, crypto, etc ..), while being cheaper, decentralized, staked
This is the total amount allocated to Dollar-Cost Averaging DApp.
The solution to the manual DCAing issue, is an automatic DCAing approach, via a DApp in which you can configure what projects you want to invest in, how much, how often (random/specific days, hours, dates...), how often do you want to withdraw (with minimal fees), if (and where) you want to stake your tokens in between withdrawals, etc ...
So in order to build such tool, here is the Roadmap :
0 - Hire a Cardano SmartContract Developper, or join a course to become one
1 - Build a SmartContract on Cardano that accepts funds and parameters for each SC user
2 - The user picks a detailed set of params (what to buy, how much, when, where to stake if stakeable, withdraw period, withdraw adress, etc...)
3 - Deploy the SC on testnet, validate, then deploy on mainnet
4 - The SC earns fees in % (TBD...)
I will be working on the project alone (if i go through a Sardano Smart Contract Developper course) or with another Cardano Smart Contract Developper if i were to hire one, as stated in the details above.
My linkedin and github profiles are attached to the file.
Roadmap with Key mile stones and dates :
0 - Start ==> Hire a Cardano SC Dev, or go through a course and become one myself
1 - Month 1 ==> Deploy an MVP on testnet : Simple DCA, without staking and without multiple options for withdrawal and DCA (frequency and specific or random periods …)
2 - Month 3 ==> Deploy an advanced version with more DCAing options, withdrawal options, staking options on testnet, and ship the MVP to the mainnet
3 - Month 4 ==> Ship the final product on mainnet
An expected launch date would be during March 21st 2022
A definition of success :
- 3 months after launch : Having 100 users
- 6 months after launch : Having 500 users
- 9 months after launch : Having 1000 users and becoming among the top 10 most daily used SCs (DEXes aside)
KPIs would consist of commits, user story advancements, velocity, burn down charts etc, but i honestly don't have a lot of experience doing these.
Budget (open for discussion) :
8K$ for the developper's work (or to pay for the course and my own commitment to the project as a dev)
5K$ for bug bounties, audits, certifications, verifications etc ...
2K$ for advertisement
Our solution not only enriches the ecosystem and this challenge, but it also completes it by adding more valuable, decentralized and much needed features.
Software Developper (Python)
Data Engineer (Python/Apache Spark)