TosiDrop dApp and Audit

[IMPACT] Please describe your proposed solution.

Our solution is to improve the currently existing TosiDrop which is live on Cardano mainnet with a fully decentralized implementation that relies solely on smart contracts. These smart contracts will allow anyone to adjust a list of parameters and seamlessly distribute project tokens to supporters and community members. Currently, all token distribution platforms are centralized, meaning the leaders of these projects can decide whether or not to list other project tokens. If TosiDrop was running on smart contracts, this would allow anyone to distribute their tokens in flexible ways, without needing to rely on any third party intermediaries. This is crucial infrastructure on our way to building a flourishing ecosystem with decentralized projects that have a wide distribution. Previously, on blockchains such as Ethereum, a platform like this was economically impossible because the transaction fees to facilitate tokens in this decentralized way would incur too high of a transaction fee to be sustainable. Cardano's predictable fee model opens the door for this token distribution dApp that does not have centralized points of authority.

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

Our solution proposes to improve our current platform by operating fully on smart contracts. The smart contracts will provide a list of parameters that anyone can choose to determine how they would like their tokens distributed and then seamlessly allow people to claim or airdrop these tokens without any third party intermediaries. Projects would no longer need to rely on the cooperation of the token distribution developers and could distribute their project tokens as they see fit.

[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 main mitigants would be a lack of funding to hire Plutus smart contract developers and audit firm to review the security of the smart contracts. We plan to overcome these obstacles by applying for catalyst funding to afford these expenditures to ensure a safe, open-sourced, and secure platform where projects are empowered to distribute their platform tokens.

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

Roadmap:

• Release Cardano mainnet (completed) --> Q2 2022
• Add TosiFee (revenue fee in that will benefit all holders of cTOSI and eTOSI) --> Early Q3 2022
• Release direct Cardano airdrops --> Q3 2022
• Release direct Ergo airdrops --> Q3 2022
• Begin smart contract development for TosiDrop 2.0 --> Q3 2022
• Smart contract audit for TosiDrop 2.0 --> Q4 2022
• Release Ergo vending machine running on smart contracts --> Q1 2023
• Release Cardano vending machine running fully on smart contracts --> Q2 2023
• Release full dApp with all intended features --> Q3 2023

[FEASIBILITY] Please provide a detailed budget breakdown.

The cost to hire a Plutus smart contract engineer to implement the full parameters for this project would be about $80,000 over the course of 6 months. We also suspect an audit will cost between $20,000-$30,000. Foreseeably, $100,000 would cover these expenses to both afford a top Plutus smart contract engineer and audit.

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

Each of our core developers can be found on our Twitter account (@tosidrop) under "Following."

The core developers include @cardanoapexpool @otg_wcat @seal_pool @bbhmm_stake @cscs_pool, @fireferrot2901, and @877psbyte6.

Apex works on the scripts to calculate number of tokens that should be sent to each wallet. Seal works on the backend, and Ferrot work works on the frontend. OTG, BBHMM, CSCS, and PSBYTE focus on DevOps and infrastructure.

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

No. If we are funded on all proposals, we believe this will provide us the run rate necessary to continue operations until our revenue model is self-sustaining. With this in mind, we do not plan to seek additional funds if this comes to fruition.

[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?

In this context, a successful outcome would be completing the following tasks:

• Cardano vending machine is fully functioning on smart contracts
• A successful audit of these smart contracts prior to release
• Launching these features on TosiDrop by Q2 2023

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

A token distribution platform that allows projects to seamlessly distribute their tokens in flexible ways on both Cardano and Ergo to achieve decentralization. We are hopeful within a year we can have the token dispensing fully running on smart contracts which will allow anyone to distribute tokens as they please. This removes potential gatekeepers from deciding who can and cannot distribute their tokens and contributes to a more permissionless ecosystem.

[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 not a previously funded proposal.