Multichain multisig wallet

[GENERAL] Summarize your solution to the problem.

We provide a unified multisig wallet, that supports multiple chains under one simple UI. It is the same user experience, regardless wither it is coin or token and what chain is it on.

[GENERAL] Summarize your relevant experience.

We have a team of 3 senior developers and 1 designer. Expertise that we hold covers various stacks, both frontend and backend. We have a team member who holds comprehensive knowledge of various blockchain protocols and a good understanding of various cryptography algorithms.

[IMPACT] Please describe your proposed solution.

Currently, there are various multisig implementation for various blockchains with very diverse user experience. Every time when the same group of users wants to create a multisig on a new chain they all need to research and educate them selves about how that new particular implementation/solution works. While this process is easier for tech people, general crypto users are not technically educated. It is also hard to keep track of what is happening in each individual multisig wallet. If you will check existing single user applications, the most popular wallets nowadays are multichain wallets, as they provide unified user experience and users can handle most of their assets at once in a single place.

Multisigs are rarely used by retail, however they are very popular for corporate players and DAOs, where funds are controlled by multiple parties. Corporate users are traditionally playing an important role in any crypto community, often representing so called "whales".

There is definitely an interest to multisigs on Cardano, however current user experience is leaving a huge space for improvements and adoption.

WhCypher is a new kind of multisig wallet. Unlike any of its competitors it covers multiple blockchains with unified user experience.

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

The multisig schema that WH Cypher utilised is based on threshold signature cryptography. This schema allows wallet users to generate an unlimited amount of anonymous t-of-n multisigs on any supported blockchain at no cost. Multisigs generated by WH Cyhper do not reveal any information about how many participants have created a specific wallet or which one of them have jointly generated a signature. Another important feature of threshold signatures is that this process provides identical user experience regardless the blockchain, type of asset that is being transferred or even type of transaction that is signed.

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

We base our work on modern cryptography. In particular - threshold signatures. It is a tech savvy process and will require extra cautions during implementation. Additionally, it is best to have a security audit by external company/security researcher.

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

• We will add a Cardano adapter to out multichain multisig wallet - 1.5 month
• We will test the integration - 2 weeks
• We will request a security audit (optional, external company) - 2 weeks (this is additional expenses, we will appreciate Cardano community will be able to help with that)
• At this moment users will be able to group create Cardano addresses, store Cardano based assets and transfer them. Transaction will look like a single user transaction.

After Cardano is supported by our wallet, we will deliver cross chain OTC integration. See "Decentralized cross chain OTC" in F9 Cross-Chain Collaboration

[FEASIBILITY] Please provide a detailed budget breakdown.

Funding will be spent to cover developers time mostly. It is ~2 month of work of 3 developers.

This grant will also help us to deliver our wallet to mobile (Android and iOS).

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

Max - Full stack developer, 10 years of commercial experience. Max holds comprehensive knowledge of various blockchain protocols and a good understanding of various cryptography algorithms.

Alex - Backend/mobile developer, 6 years of commercial experience.

Leonid - Frontend/React developer, with 4 years of commercial experience.

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

We might return later, to provide Cardano Web3 support in our wallet. This will help DAOs to jointly sign any type of transactions, like minting tokens, managing smart contracts, issueing NFTs or any other transactions, that currently can be done by a single person/private key.

[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?

Implementation part

• We will first make sure that Cardano adapter is working and can generate new wallets/receive and send tokens/coins. We can provide a weekly summary of our progress.

Adoption part

• We will be preparing SEO materials for specific keywords like "Cardano multisig". We will be measuring amount of impressions, clicks coming from search engines and wallet installs. This will indicate whether users are interested in our solution and how much relevant they find it and will indicate if interest to our solution is growing, declining or staying the same.

• We will be collecting user's feedback in the wallet, asking if they like our solution in general and if not, asking what we can do to improve it. This will show that users are happy with our solutions, what features are they missing and will indicate us if users satisfaction is growing, or declining.

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

• We will aim take top 3 position in Google results page for keyword "cardano multisig". We already hold some good positions in Google results for other relevant keywods.

• We will make sure that overall wallet rating is at least above 80% and will make our best effort to maintain it above 90% (4.5 out of 5).

[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 entirely new proposal