Telegram Wallet upgrade

[GENERAL] Summarize your solution to the problem.

In addition to its basic non-custodial wallet function, we will add features for cNFT displays, incorporate a P2P exchange, and integrate with Defi platforms to enable swaps, lending, and borrowing.

[GENERAL] Summarize your relevant experience.

We are a team of two self-taught founders we are backend and frontend developers currently learning to become full-time developers on the Cardano blockchain. We have participated in the Plutus Cohort 2 and 3 and are currently taking Marlowe pioneers program.

[GENERAL] Requested funds in USD.

[IMPACT] Please describe your proposed solution.

Inception

Endubis wallet was born in Fund 7 mini-dapps challenge as a means to enable easy payments of ADA in Ethiopia. Our target audience for this app/bot are people new to the crypto space, that don't want to deal with or have access to centralized platforms. We are strong believers in decentralized systems and thus our aim was to make the Cardano world easily accessible to the broader population. That is why we picked Telegram, the most widely used chatting app in Ethiopia, as a starting point.

Outcomes

After our initial test run of the Cardano wallet, we have received wide interest within our community and we have over 200 people currently accessing it on the testnet. The ease of using this bot has attracted a wide audience and once we release it on the mainnet which is scheduled for July 1st, we expect to onboard 500 participants in the first couple of weeks, 1000 within 2 months, and 3000 by end of this year. After that with the implementation of the P2P exchange feature and integration with various payment methods across Africa, we hope to grow our customer base exponentially each month.

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

One of our main goals with this project upgrade is to include a p2p exchange, integration with Fiat payment methods, and integration with Defi platforms to enable swapping, lending, and borrowing of assets.

All these features will be integrated seamlessly into the existing wallet without disrupting the ease of access to the wallet.

Our focus with this wallet is the ease with which one can use it while maintaining the security of a non-custodial wallet.

The current state of our wallet can be tested on the testnet with the following address: https://t.me/EndubisTestWalletBot

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

The biggest risk we are currently facing is the rumors of a potential ban on purchasing crypto in our home county. Thus our first priotity is to incorporate a p2p exchange feature to avoid the use of current payment methods for purchasing crypto. And for this, we need resources including time, money, and additional helping hands to be able to execute this project effectively and on time.

We have also currently retained a lawyer to guide us with each step of our activities in order to make sure we operate within the bounds of the law.

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

Q3 of 2022

• Code Auding
• Relase of wallet on mainnet
• code clean-up and documentation to make the existing code of the wallet openly available.
• research on potential DEXs we can partner with.
• Partnership with Cardano communities for payment integration within their country

Q4 of 2022

• Integration with existing DEXs of DeFi platforms.
• UI update with new telegram bot features
• Community building in various countries to enable fast P2P exchange
• Deployment of stake pool to fund future development of the wallet

Q1 of 2023

• Deploy new features on mainnet

[FEASIBILITY] Please provide a detailed budget breakdown.

• 1x Bot developer: $700/mo x 4 = $2800.00
• 1x web3 developer: $1500/mo x4 = $6000.00
• Business registration in 4 regions in Africa: $6000.00
• Lawyer fees: $200/mo x4 = $800.00
• Cloud Hosting: $2,000.00

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

Tamir Kifle

https://github.com/tamirkifle

Nebiyu Sultan

https://github.com/nebiyusm

Website

http://endubis.net/endubis-wallet

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

This is the second round of funding for the project, and it is unlikely that additional funds will be required after this one since all our main features will be implemented.

Further maintenance of the bot/wallet will be funded through the stake pool the wallet will be implementing.

[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?

KPIs:

1. Number of payment methods integrated
2. Number of users of the wallet
3. number of daily unique engagements with the bot

Additionally, we will measure and gauge the ease of access of users through our group chats and through the contact-us section on the bot for them to request or inquire about any features that they want or are having difficulty with.

We want to maintain a very close relationship with our customers and make sure they are well protected and comfortable with using the wallet.

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

We want our wallet to be the gateway to web3 for new users. Through the simple use of the wallet and information/tips/news they will get through notifications we want to enable our users to be comfortable exploring different projects across various platforms.

After use of our wallet for some time our customers will ideally have a better understanding of web3 and the blockchain world.

[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 continuation of Endubis Messenger Wallet which was funded on F7

https://cardano.ideascale.com/c/idea/384135

This is a continuation of the features that were not within the scope of the previous project or were underestimated in their implementation expense and timeline.

Additionally, the initial project was focused on Ethiopia only and with this upgrade, we will be expanding the target audience of our customers to west Africa and other eastern African countries.

Sustainable Development Goals (SDG) Rating

SDG Goals

4 - Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all

8 - Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all

9 - Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation

SDG Subgoals

4.4 - By 2030, substantially increase the number of youth and adults who have relevant skills, including technical and vocational skills, for employment, decent jobs and entrepreneurship

8.10 - Strengthen the capacity of domestic financial institutions to encourage and expand access to banking, insurance and financial services for all

8.2 - Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors

8.3 - Promote development-oriented policies that support productive activities, decent job creation, entrepreneurship, creativity and innovation, and encourage the formalization and growth of micro-, small- and medium-sized enterprises, including through access to financial services

9.a - Facilitate sustainable and resilient infrastructure development in developing countries through enhanced financial, technological and technical support to African countries, least developed countries, landlocked developing countries and small island developing States

9.b - Support domestic technology development, research and innovation in developing countries, including by ensuring a conducive policy environment for, inter alia, industrial diversification and value addition to commodities

Key Performance Indicator (KPI)

4.4.1 - Proportion of youth and adults with information and communications technology (ICT) skills, by type of skill

8.10.2 - Proportion of adults (15 years and older) with an account at a bank or other financial institution or with a mobile-money-service provider

9.a.1 - Total official international support (official development assistance plus other official flows) to infrastructure

9.b.1 - Proportion of medium and high-tech industry value added in total value added