Cardano Swapping Application

[IMPACT] Please describe your proposed solution.

The proposed solution would require a front end interface to facilitate the ability to propose and execute trades. Interested parties would be requested to connect their wallet and enter the receiving address of the counter-party. This would allow for our backend to search both parties wallets and allow the proposer of the trade to suggest a reasonable trade to the counter-party. A link would be provided to the proposer to be sent to the potential acceptor of the trade. After the trade is accepted, both parties would be prompted to send the agreed upon items to a temporary wallet until all agreed upon native assets are collected from both parties. Once all agreed upon assets are received, both parties will receive their agreed upon items. In the event that one or both parties fail to send the agreed upon assets within a given timelimit, the smart contract will revert and return any assets it has received to the proper wallets.

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

This solution will provide value to the cardano ecosystem by allowing Cardano users to transact P2P in a trustless manner and avoid using decentralized exchanges or NFT marketplaces.

[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 do not forsee any challenges that would prevent us from successfully delivering the project.

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

UI / Website development - 1.5 months

Swapping smart contract design & implementation - 1.5 months

Testing - 1 month

Delivery in 4 months if the proposal is approved

[FEASIBILITY] Please provide a detailed budget breakdown.

All associated work will be done by 2 full stack developers @ $50/hr

UI / Website development (160 cumulative hours - $8000)

Swapping smart contract design & implementation (120 cumulative hours - $6000)

Testing (40 cumulative hours - $2000)

Website registration and maintenance $400

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

William H - Software Engineering Student

Bryant V - Cyber Security Student

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

Depending upon the usage of our swapping feature, we may return to Catalyst for future funding however we expect to provide a working product before requesting any additional funds.

[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?

We will track the project's progress with a detailed roadmap that will be provided upon funding. Team members will gather weekly to review progress and discuss any current issues. Updates will be provided via social media.

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

Success for this project would allow for 2 individuals who do not trust each other to arrange and execute a trade without the necessity for NFT marketplaces and DEX's. Success for this project would give Cardano users a new method to purchase and sell native assets without having to use the base currency ADA.

[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.