Copper Seed Safe Token Plugin

[GENERAL] Summarize your solution to the problem.

Expand the Copper Seed Safe token program with new open-source plugin: Stake pool operators reward delegators with tokens; tokens are exchanged for Copper Seed Safe kits; kits are mailed worldwide.

[GENERAL] Summarize your relevant experience.

I founded Copper Seed Safe in 2021. I make all kits by hand and have successfully shipped to five continents. I also designed and developed the website, which uses Mercury and CardanoPress plugins to accept ADA for payment and facilitate a token-gated sales and promotions page.

[GENERAL] Requested funds in USD.

[IMPACT] Please describe your proposed solution.

Our solution expands existing programs to solve three problems simultaneously:

• Problem 1: Increasing commerce of physical goods on Cardano.
• SOLUTION: We will build an open-source WordPress plugin to accept Cardano Native Tokens as online payment for physical products (Copper Seed Safe kits). This process of exchanging tokens for products will build dAPP technology and expand the integration of Cardano into existing web technologies.

• Problem 2: Storing seed phrases safely and securely with a physical product.
• SOLUTION: Copper Seed Safe kits are pure copper, fireproof, waterproof, easy to use solutions to secure seed phrase storage. We will get a minimum of 1000 Copper Seed Safe kits in people’s hands.

• Problem 3: Helping independent stake pool operators (SPOs) attract delegators with unique, valuable incentives.
• SOLUTION: Copper Seed Safe Tokens (CSST) become a valuable incentive that SPOs can use to attract delegators, while inspiring them to take control of their seed phrases. This proposal expands the current token program to make tokens directly redeemable for real, tangible goods through an exchange process on the copperseedsafe.com website.

Copper Seed Safe already has a token program: SPOs can provide a token (CSST) to people who delegate their ADA. This token unlocks a gated page, and discounts, on copperseedsafe.com. Currently, one CSST unlocks a discount on a Copper Seed Safe order. CSST is currently available on Tap Tools and will also be available through SmartClaimz when that platform launches. Eventually we expect to use all the token distribution programs. 

This proposal seeks to expand the existing CSST program in the following ways:

• Create a plugin to redeem CSST for free Copper Seed Safe kits. This will be done by developing an open-source plugin to extend WooCommerce on WordPress. The plugin will then be made available so that in the future, other projects can use it to accept any Cardano Native Token as payment for physical products, downloads, subscriptions, and more.

• Create a Copper Seed Safe redemption program in which 1000 CSST can be redeemed for one free Copper Seed Safe kit.

• Provide CSST to SPOs, in bulk, to distribute to delegators as an incentive to stake with them. SPOs will be free to award tokens in any way they like, such as by stake amount and number of epochs. This proposal will fund distribution of 1000 free Copper Seed Safe kits by providing 1 million CSST to SPOs for their delegators.

[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.

This solution addresses three parts of the challenge:

1. dAPPS - The copperseedsafe.com website is a dAPP that Cardano wallets connect to to unlock exclusive features. This program will provide extended tools for more projects to do the same.
2. Physical products - Copper Seed Safe is a physical product that solves a problem for everyone in crypto. A copy of a seed phrase on metal is permanent. It is one of the few places where the physical world meets the blockchain.
3. Integration - This program integrates existing token claiming systems with the physical world via the Copper Seed Safe product. This adds a valuable incentive for people to participate in the network by staking their ADA, and thus become more fully integrated into the ecosystem and the Cardano Community.

[IMPACT] What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?

Risk related to Solution 1: open-source WordPress plugin:

The popularity of WordPress makes it a prime target for hackers. Developers face the ongoing challenge of protecting against these threats. I have been a WordPress developer for 10 years and have used many plugins for many clients. I will work with the plugin developer hired for this project to ensure that the WooCommerce plugin is built with best practices to minimize risk to the user and is as easy as possible to use and update.

Risk related to Solution 2: Copper Seed Safe as physical solution to seed phrase storage:

Privacy is a concern, because we must collect some personal information in order to mail the kits to the users. The privacy concerns are currently handled via the Copper Seed Safe privacy policy, which calls for data to be kept a maximum of 90 days. Credit card processors have their own policies, and we will link to those clearly, ensuring informed consent. 

Risk related to Solution 3: CSST redemption program:

The primary risk to the redemption program is lack of participation, if SPOs do not sign on to distribute CSST or delegators do not collect the tokens and redeem them. To address this risk, we are working to reduce the steps needed. User experience and simplicity are always priorities in software design and development, and we have a large group of testers available to give feedback during the iteration process.

Another risk is that the random distribution of 1 million CSST via 100+ SPOs results in some delegators collecting <1000 CSST, which reduces the total pool of tokens such that fewer than 1000 total delegators are able to collect the 1000 CSST necessary for a free Copper Seed Safe kit. If this happens, we will release additional CSST to SPOs for distribution until 1000 Copper Seed Safe kits are shipped.

[FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.

This is an eight-month plan, beginning with Catalyst approval of this proposal.

Currently, the Copper Seed Safe tokens (CSST) are being distributed through Tap Tools, and delegators can use them to unlock a discount on all orders on the copperseedsafe.com website.

The expansion of this program will take eight months as follows:

• Months 1-3: Develop the plugin. We will hire a developer after consultation with several SPOs. There are several WordPress/WooCommerce plugins to accept ADA for purchases, and we will expand on these to accept specific Cardano Native Tokens and accept either partial or complete payment. While the plugin is under development, we will recruit 100 SPOs to participate in distributing CSST.

• Months 3-6. 100+ SPOs will begin distributing CSST at the start of month 3, and be encouraged to distribute 75% of the 1 million tokens by the end of month 6. This will enable hundreds of people to redeem their tokens for Copper Seed Safe kits. This volume of activity will help create buzz around the project. 

• Months 7-8: SPOs will distribute the remainder of the CSST. We will use social media to encourage people to redeem all the CSST for Copper Seed Safe kits by eight months from start date.

Team member availability:

• Dean Wenick works on Copper Seed Safe full time and is available to lead this project from start to finish.
• Stef Montanari, of Rabbit Hole Pools, will be contributing consultation time to this project; it will not interfere with his work on the project funded by Catalyst's Fund 8.
• The plugin developer will be hired for a contracted time and commitment.

[FEASIBILITY] Please provide a detailed budget breakdown.

The total proposed budget is $35,000 USD. The two budget items are the software development and the Copper Seed Safe kits, including postage.

• $25,000 estimated for software consultations, design, and development.

• $10,000 to be used to purchase 1,000 Copper Seed Safe kits (at a discount cost of $10 per kit, shipping and handling included) and mail them to delegators all over the world in exchange for CSST.

[FEASIBILITY] Please provide details of the people who will work on the project.

Team members fall into three categories.

1) Copper Seed Safe

Dean Wenick is the sole proprietor of Copper Seed Safe. He has worked in web design and development for the past 10 years. He is very experienced with WordPress and successful with Cardano integration with WordPress and WooCommerce. He will oversee the development of the plugin for accepting Cardano Native Assets.

https://copperseedsafe.com

https://twitter.com/copperseedsafe

https://twitter.com/deanwenick

2) Stake Pool Operators

Stef Montanari (RABIT, of Rabbit Hole Pool) is a proud member of the CardanoSPA (Single Pool Alliance) and xSPO (Extra Small Pools). They pledge to always run one pool, in the hope of increasing #Cardano's decentralization and diversity. Diverse networks (just like natural ecosystems) are more resilient, vibrant, and fun!

https://rabbitholepools.io/

We also have many advisors who are single pool SPOs, including members of FreeLoaderz. Together they have many years of experience in technology, business, and marketing. While not technically team members, their experience and consultation will be very valuable to this project.

https://freeloaderz.io

3) Plugin Developer

This person will be hired with the advice of the SPO advisors. This person will have experience writing plugins for WooCommerce. Their knowledge of Blockfrost or Dandelion APIs will be evaluated case by case.

[FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.

If this project is successful, we will likely seek future Catalyst funding in order to integrate the token redemption program into creative onboarding projects and earn-to-learn education projects. These initiatives will benefit the whole ecosystem in several ways. Community members will be better educated, more confident, and more experienced with using the network. Any software we develop with Catalyst funding will be open source and made available to other projects to encourage innovation and collaboration in the Cardano Community and lower barriers to entry. Meanwhile, the business of operating stake pools is always changing, and SPOs will probably always need avenues for promotions.

As Cardano grows, more people will need solutions for seed phrase storage. However, Copper Seed Safe is not dependent on Catalyst: It is an operating business. I see Catalyst funding as a way to encourage best practices within the Cardano Community. While future Catalyst initiatives could be simply an extension of the program proposed here, they will most likely be more creative endeavors as the team gains experience.

[FEASIBILITY] Are you or any member of your team working on any other proposals in this Fund9?

[FEASIBILITY] Are you or your team working on any other proposals from previous Funds?

[AUDITABILITY] Please describe what you will measure to track your project's progress, and how will you measure these?

1) Metric 1 is delivery of the WooCommerce plugin. Goal is 3 months after approval of Catalyst funding.

2) Metric 2 is recruitment of 100 SPOs to distribute the CSST. Goal is 2 months after approval of funding.

3) Metric 3 is SPOs distributing large blocks of CSST, beginning in month 3 after approval of funding and continuing through month 8.

4) Metric 4 is SPOs distributing 75% of the allotted tokens within 6 months of funding approval. SPOs will use their own criteria for distributing tokens. 

5) Metric 5 is for SPOs to distribute 100% of the allotted tokens within 8 months of funding approval..

6) Metric 6 and final goal is to distribute all 1,000 Copper Seed Safe kits, in exchange for CSST, within 8 months of funding approval.

[AUDITABILITY] What does success for this project look like?

Success is an open source plugin, available from a public repository, that is configurable by the user to accept different Cardano Native Tokens. The plugin will be a WooCommerce payment method.

Success is people being confident that the keys to their assets are treated with care and stored safely. This will reflect thousands of people who have staked their ADA with independent stake pools, further strengthening and decentralizing the network. 

Metrics for success:

• An operational WooCommerce plugin that is configurable to accept any Cardano Native Token, in any quantity, as payment and is available on a public repository.

• At least 1000 people are actively participating in the Cardano network by staking with SPOs and making transactions on the network. Measured by recording the unique addresses and wallets that claim CSST through TapTools and SmartClaimz.

• At least 1000 people are creating real-world use cases for Cardano by making purchases of real goods with ADA. Measured by tracking sales and redemptions on copperseedsafe.com.

• At least 1000 people are taking custody of their assets through seed phrase storage solutions and learning best practices for doing so safely. Measured through kits shipped. We will assume that people then use the kits.

[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.

This is a new proposal.