Endubis Messenger Wallet

General Idea

The first integration platform will be through a telegram bot (Endubis Wallet) payment system for quick payments for small, everyday items, and storage of ADA. The proposed Telegram bot will provide better p2p buying and easy trading options. The pilot project will be conducted in Ethiopia. Ant the wallet code will be open-source for anyone to adopt it for their local context.

Why Telegram

Telegram is the most widely used application in Ethiopia. An open-source telegram bot that can be integrated with existing wallets can quickly be adapted for other markets outside of Ethiopia as well.

Features and Requirements

Our messenger wallet will allow anyone to easily hold ADA or exchange ADA to local currency. Users will also be able to purchase cryptocurrency with local fiat money entirely within the messaging app. Overall, buying cryptocurrency can be confusing for many users. With the integration with local banks, users in can become verified to purchase cryptocurrency with their local currency within minutes.

Risks

Technical Obstacles: Telegram API Performance Limitations

This issue will mostly affect the trading aspect but not the wallet itself.

Deployment and Marketing

The design of the bot will take approximately 2 weeks and a beta version can be released within 2 months. Initial users will be gathered through promotion in Cardano Telegram groups. We will expand this through a referral program and various incentives for using their ADA in real-world functions.

Milestones and Reporting

Analysis and design stage - Week 1

UI/UX Design - Week 2

Backend Design - Week 3-4

Integration with payment platforms - Week 4-5

Alfa testing - Week 6

User Registration - Week 7

P2P trading options - Week 8

Beta Testing - Week 8-12

Integration with Other ADA wallets - Week 12-15

Loans and Credits Options- Weeks 15-20

Budget

Development team: 5000 USD

Marketing: 1000 USD

Licensing and Integration: 1000 USD

Cloud Hosting: 1000 USD

[We expect to simplify the work through the already existing open-source codes. Additionally, the developers we have approached are interested to work on this project for minimal starting cost because of the opportunity for partnership in the scaling of the project when adding more features]

MOS and Timeline

3 months: 500 users

6 month: 1000 users + active use of the Loan Function

12 month: 3000 users

Project Launch date: January 10

Beta testing: March 10

Sustainability:

In the long run, we expect the wallet will sustain itself through the staking and loan features it will offer for ADA holders.

HOW DOES THE BOT WORK?

To get the basic idea, head on to telegram and find @endubisbot

or 

use the following screenshots