Erdős (An AirBnB Competitor)

[IMPACT] Please describe your proposed solution.

Kirkstone Background:

At Kirkstone we are developing an online marketplace for standard lodging; where our native currency $KIRK will be used primarily for transactions (a token on the Cardano blockchain). Tenants who use $KIRK to pay their rental fees will be given a discount, incentivising them to use this currency. 

We believe being accepted into Fund 9 and receiving funding from the blockchain would also be extremely reassuring for early investors. Therefore, we see the success of this proposal paramount for the early adoption of Kirkstone and will be extremely useful for the project’s short-term growth.

Erdős will offer a landlord hosting service similar to the current competitors. The landlords will be incentivised to take fees from tenants in $KIRK tokens, reducing the transaction fee for both parties. Once this is in place, Kirkstone will be able to directly compete with the likes of Airbnb and Vrbo, and take market share within the online marketplace for lodging. Longer term we will also offer Erdős landlords/hosts other Kirkstone services (such as tokenisation) to ensure an advantage over the mainstream corporate giants. 

Using crypto as the primary payment method will allow us to further reduce costs by utilising payment methods via smart contracts. We will also negate expensive exchange rate fees that are currently incurred when tenants rent abroad. This is because crypto is decentralised and as such, exchange fees when compared to fiat money is minimal.  

In short, Kirkstone aims to reduce rental rates for tenants. We believe the current system is overpriced; with the adoption of cryptocurrencies, we can reduce these rates and make a significant dent on the monopoly AirBnB and Vrbo hold.

How you perceive the problem you are solving?

The problem with the current traditional lodging systems is the excess fees related to the use of fiat as a payment vehicle. Furthermore, the fees included in these lodging systems do not contribute directly to the community (Cardano and the Homeless).

Your reasons for approaching it in the way that you have?

Ultimately, we are a team of engineers and STEM professionals. At Kirkstone we approach projects in a logical mathematical manner. We as a company genuinely care about the cause behind our project - supporting the homeless community; while also providing cheaper fees for both lodgers and hosts. 

Who your project will engage, or who its stakeholders are?

• The demographics for cryptocurrency involvement, and proclivity to use services such as AirBnB and VRBO overlap significantly. So we hope to engage the consumers who no longer want to use fiat currency to book their holiday. 
• Further, we will engage the growing Kirkstone community, who do have a previous interest in the proposal. 
• The immediately apparent stakeholders of this project are the customers and hosts of the Erdős system. 
• Investors in the $KIRK token will also be considered stakeholders in the Erdős system.

How your project will be implemented?

• Further development of the product requirement documentation.
• Development of the architecture plan.
• Finalisation of the dApp development document.
• Testnet implementation and testing. 
• Testnet documentation released to the public; including full analysis of areas to improve and correct defects which need to be addressed.
• Trial phase of the Erdős systems - Erdős will be implemented into existing Kirkstone properties. Again, similarly to the testnet phase, documentation and review of the phase will be undertaken to highlight improvement areas. 
• Initial rollout in the UK with full documentation and review.
• Full rollout with full documentation and review.

What you will produce (i.e. your outputs)?

• We will produce a dApp that will allow Kirkstone or a third party landlord to act as a vacation rental service. 
• We will use smart contracts and further technological improvements to remove the middleman services.
• This dApp will contribute significantly to the homeless community via the Ashby homeless foundation - more information on the Ashby foundation can be found in the Kirkstone whitepaper.

What will happen as a result of your work (i.e. your outcomes)?

• Consumers will be able to pay for holidays away at a cheaper rate compared to traditional web.2 systems and get more value for their money.
• Hosts will pay less fees for listing their properties compared to traditional web.2 systems.
• Significant donations and impact on the homeless community
• A more mathematical review of the real estate industry; including in-depth public research and sponsored education.

Explain what's unique about your solution, and what value it brings to the Cardano ecosystem?

Our solution is to utilise our native token $KIRK to significantly reduce fees compared to traditional systems. By owning the financial systems behind the dApp we will be able to maintain a significant buy pressure which will significantly contribute to the Kirkstone ecosystem. 

We will allow Cardano investors to rent their vacation lodging through the Cardano network. Furthermore, as previously mentioned the Cardano community will be contributing to the homeless community. Kirkstone hopes to “onboard” a significant number of fiat users onto the Cardano blockchain.

How Kirkstone will benefit

• Increased use cases for our native token $KIRK.
• Ownership of the Erdős dApp, and the revenue which is generated from it.
• Marketing and exposure via project catalyst.

How the catalyst community will benefit 

• The catalyst community will be able to suggest edits and ensure we create the most user friendly product possible.
• Holders of Cardano (i.e. the catalyst community) will be able to use the Cardano network to host and rent vacation lodgings. 

How will the greater community benefit 

• One of the main goals of this project is to introduce current “unblockchained” users to the Cardano network.

How the homeless community will benefit  

• The homeless community will substantially benefit from this proposal as we have previously discussed - a proportion of the Erdős system fees will be donated to the Ashby foundation.

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

The Kirkstone project aims to bring the public to Cardano by offering a service (renting) that is integrated within the Cardano blockchain. We are targeting a massive market which historically has used fiat currency. Taking market share within the renting space would bring the masses to Cardano, further driving growth and innovations within the space. 

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

In this section we will go through the risks related to the development, implementation and rollout of the Erdős process.

Government Regulation changes - Keep up to date with any regulation changes and guidance given from the government.

Cardano failing to become a long term successful network - Done our due diligence choosing which blockchain to build our token on.

Development Issues - Clear and defined project management, with relevant KPIs to measure the progress of the project. Partner with and hire experienced Haskell developers with known and reputable background.

Users unwilling to use $KIRK - The option to use $ADA or DJED as payment vehicle will be available. Whilst the fees of the service will always be paid in KIRK.

Recession, thus less vacations occurring - Being the cheapest option regionally should provide us with an advantage over traditional systems.

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

Detailed below are the expected activities that need to be undertaken to achieve our goal of creating the Erdős dApp. To the right of each activity is the amount of time each activity is expected to take for the developer. Hours in parentheses are non-developer hours. 

1.Receive initial Funding from Project Catalyst Fund 9.

Once initial funding from Project Catalyst Fund 9 has been confirmed, the Erdős project co-ordinator will finalise and refine the problem statement to enable a successful project. 

2.Product design: Completion = Q1 from funding

1. UX and UI design 70h
2. The user interface (UI) and user experience (UX) is crucial for this project and dApp to be successful.
3. Market research (100h)
4. Market research will be carried out via our own marketing department and will determine the critical path for this dApp to become a success.
5. Multilingual support 40h
6. This will be crucial in expansion into a global market as well as more access for users from any country looking to rent/let Erdős properties.

3.Technical design: Completion = Q1 from funding

1. Infrastructure design 100h
2. The database and server infrastructure will be crucial for scalability of the project. Furthermore, privacy and security will be essential for our consumers.
3. Smart contract design 120h
4. Analyse and design smart contracts.
5. Audit preparations 40h
6. This will involve refactoring and refining our products prior to all Erdős smart contracts being audited.

4.Product development: Completion = Q2 from funding

1. Write code for dApp 120h
2. This code will be designed to enable consumers to access all available Erdős Properties with calendars/availability of each property - as an example - as well as a smooth consumer-friendly UI. 
3. Off to on chain bridge 80h
4. This will be essential for consumer payments.

5.Testing phase: Completion = Q2 from funding

1. General testing 30h
2. This troubleshooting exercise on the testnet to ensure full operation of the Erdős dApp at launch as well as testing in a Kirkstone owned property. In addition, at this time the dApp will be transformed for public deployment.
3. Extend compatible token list 20h
4. Initially and primarily Erdős will accept $KIRK (our native token), but in addition to this we will also host other Cardano tokens such as the stable coin we have partnered with: $DJED. 
5. Multiple wallets integration 80h
6. This step is required to offer ease of payment through Cardano native wallets such as Nami and Yoroi.

6.Launch phase: Completion = Q3 from funding

1. Mobile UX/UI design 30h
2. A mobile dApp will be required to reach the full market potential for Erdős.
3. Mobile product development 100h
4. Migration of code as well as mobile specific functionalities.
5. Marketing N/A
6. Promotions to incentivise community engagement for Erdős.

[FEASIBILITY] Please provide a detailed budget breakdown.

1.Receive initial Funding from Project Catalyst Fund 9.

2.Product design $12,700

1. UX and UI design 70h
2. Market research (100h)
3. Multilingual support 40h

3.Technical design $18,200

1. Infrastructure design 100h
2. Smart contract design 120h
3. Audit preparations 40h

4.Product development $14,000

1. Write code for DApp 120h
2. Off to on chain bridge 80h

5.Testing phase $9,100

1. General testing 30h
2. Extend compatible token list 20h
3. Multiple wallets integration 80h

6.Launch phase $24,100

1. Mobile UX/UI design 30h
2. Mobile product development 100h
3. Marketing N/A

A typical rate for an experienced developer is between $60 and $80 per hour. Therefore $70/h was selected.

(70+40+100+120+40+120+80+30+20+80+30+100)h * $70/h = $58,100

The market research rate that has been applied is $50/h.

100h * $50/h = $5,000

Project management will of course be crucial to the success of the dApp project so $10,000 has been allocated for this. This will also involve updating the Catalyst community with monthly reports about the Erdős dApp’s progress.

To become an AirBnB competitor hundreds of thousands if not millions would be required for marketing. However, we are looking for $15,000 to be able to reach a lot of the crypto community. More targeted markets (i.e. vacation lodgers) will be done in-house, funded via our Kirkstone ecosystem.

Total = 58100 + 5000 + 10000 + 15000 = $88,100

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

Joseph Pettit - Project Lead

Responsible for planning, procurement and execution of Erdős. Will have a broad scope of the project and will ensure correct task allocation to meet the deadlines put in place.

Experience: Achieved a Bachelor’s degree in Mechanical Engineering. Joseph has gained experience within a FTSE 250 company, working in a specialist team dedicated to continuous improvement projects. He was solely responsible for analysing data gathered by production, highlighting key areas for improvement. Joseph’s background is working on projects that have a wider effect than just the team he resides in. This, along with his specialist knowledge in data analysis gives Joseph the perfect combination of skills to oversee Erdős as the Project Lead.

Hassan Alubeidi - Kirkstone Lead Developer

Responsible for beginning the Erdős backend development and smart contract creation.

Experience: Hassan is our developer for all core development including smart contracts, DApps and wallets. He aids the Head of Technology in writing technical documentation, the code auditing process and gathering user feedback; ensuring its execution by the wider engineering team. In addition to code development, he is also responsible for network fee optimisation and assisting in ISPO node creation and maintenance.

Development Consultancy Company 

Responsible for the bulk of development including full stack and blockchain integration. 

Cameron Milne - Strategy Manager

Responsible for ensuring Erdős links and functions with the overall Kirkstone ecosystem. Will work closely with the project lead and the strategy consultant to execute successful Erdős rollout. 

Experience: He holds a Master's in engineering with a specialty in dynamic modelling. Cameron has 4 years of experience in software engineering. He was responsible for designing multiple high fidelity responsive models for a variety of institutions. He most recently provided business analysis for a FTSE 250 company.

Joshua Powell - Head of Marketing and Design Responsible for the rollout of all advertising and marketing drives throughout the lifespan of the project.

Experience: Currently working towards a Master's in Strategic Marketing following a Bachelor's degree in International Business. Joshua has 6 years experience in the marketing world working in agencies, a FTSE 100 company and more recently a global technology firm.

Will Edgell - Finance Manager

Responsible for correct allocation of financial support for the Erdős project within the larger Kirkstone ecosystem.  

Experience: He obtained a Master's degree in engineering with a specialty in operational management. William has 4 years experience in mathematical modelling and end-to-end software optimisation. He has a vast array of experience in developing projects from start to finish.

Joe Kirkup - Developer Coordinator

Responsible for the smooth running of the development team. This will involve tracking progress and ensuring the correct allocation of developer time to meet deadlines put in place. This role will become more critical to the project's progression as our development team grows. 

Experience: Holds a Masters degree in engineering specialising in entrepreneurship and innovation, Joe has pioneered R&D in world-leading process industry and a successful Oxford University spin-out company centred on novel monitoring of complex systems. He is Six Sigma qualified, has consulted with major blue-chip companies in a variety of fields and spearheaded projects with governmental bodies such as the British MoD and US FDA.

Jason Milne - Strategy Consultant

Provides input and expertise to both the strategy manager and the project lead. Will analyse and help mitigate any risks the project encounters. 

Experience: Jason is the elder statesman of this very talented group of young entrepreneurs. Jason has amassed significant experience in the public and private housing sectors and has delivered business development, transformation and change at the C-Suite level. Qualified in Strategic Studies and a current practitioner at this level, he brings regional, international and global credibility to Kirkstone.

James Atkinson - Cryptocurrency Operations Consultant

Ensure the project runs at cryptocurrency best practices operationally.

Experience: James is highly experienced in the cryptocurrency realm and has been involved in the space since near its conception. Throughout his career, James has embraced technology change at multiple junctures. James brings a wealth of experience to Kirkstone, he has a total of 20 years’ experience in project management and leadership, on top of the aforementioned cryptocurrency experience.

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

Any further development or maintenance of the Erdős system will be provided by the Kirkstone and the Kirkstone Ecosystem.Therefore, we do not believe we will need any additional funding in a later round, as we aim to be fully self-sufficient in the medium to long term.

[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?

Meeting Schedule

    • The internal Erdős team will have 4 meetings per week, to discuss key issues surrounding the project. These meetings will also allow the team to be aligned with each individual team member’s workload and output schedule. 

    • Furthermore, each fortnight the team will hold an update meeting on the project; the minutes of this meeting will be available publicly. 

Documentation Production 

Monthly Reports – These reports will contain a monthly summary of the progress of the project, the report will specifically relate to milestones, timelines and KPIs. This document will be released publicly monthly. 

Test-Net Review Report – A document release outlining the key findings and defects reported. The document will included updated KPIs and will be released publicly.

Trial Phase User Report – Similar to the test-net documentation, this report will outline key finding and potential defects with the system. Further, this report will include KPI measurements such as host-customer satisfaction ratings and fee reduction analysis compared to Web.2 systems. 

Launch Review Report – Full analysis report on how we as a team can improve the role out of systems; publicly released to potentially aide other developing projects.

KPI Measurement Phases

Development Phase

    • Cycle time 

    • Velocity 

    • Code Simplicity 

    • Code Stability 

    • Smart Contracts Optimised 

Short-Term Phase

    • Number of host/properties on-boarded 

    • Host/Customer satisfaction rate

    • Host fee reduction compared to Web.2 traditional systems

    • Customer fee reduction compared to Web.2 traditional systems

Long-Term Phase

    • Retention and repeat customers

    • Percentage host yearly usage

    • Wallet addresses holding $KIRK

    • New crypto-users on-boarded to the Cardano community

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

Success Level 

Level 1 (Average) – We want to have a completely functioning and audited dApp which can be used for short term vacation renting. 

Level 2 (Good) - Erdős is a cheaper alternative compared to traditional Web.2 systems; the dApp is significantly contributing to the Kirkstone ecosystem. Erdős is the go to dApp in the cryptocurrency space 

Level 3 (Best) - Erdos is on track to take market share off Airbnb and VRBO. The Kirkstone ecosystem is flourishing and Cardano on-boarding is significant.

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

Entirely new proposal.

Sustainable Development Goals (SDG) Rating

SDG goals:

Reduce inequality within and among countries

SDG subgoals:

Adopt policies, especially fiscal, wage and social protection policies, and progressively achieve greater equality

Key Performance Indicator (KPI):

Redistributive impact of fiscal policy4

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