Open analytics standard for DeFi

[IMPACT] Please describe your proposed solution.

MuesliSwap is already providing an API endpoint that is used by different providers like Discord price bots etc. Our goal is to optimize our API endpoints and consult with other DApps to propose an API endpoint standard. Moreover, we are planning on providing detailed documentation for this API endpoint such that new projects can easily adopt the endpoint and profit from a set of rich documented endpoints. Creating this standard API structure involves consultation with other Cardano protocols, creating documentation and implementing a reference endpoint for MuesliSwap. 

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

Our endpoint structure, if adopted, will make it possible for Cardano DApps to be easily integrated into new applications. Moreover, users that want to connect DApps to their portfolio trackers can more easily profit from an easy, well-documented API standard. Other DApps are also not required to put additional effort and money into creating their own structure for API endpoints. Also, new developers building applications on top of available DeFi DApps can profit from a unified API standard to aggregate information. 

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

As we already have a general idea of how the API endpoints could look, we don’t see any risk that the project can’t be finished. Also, we will not encounter any budget problems as any extra costs will be covered by the MuesliSwap team.

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

Throughout the entire project we are planning to inform the community of our development progress. The final solution will include a well-documented, easy to adopt API structure and a reference implementation. 

Research: (1 week)

We are planning to reach out to different major DApps to understand their needs and what endpoints they think are necessities that all DeFi DApps should provide. Moreover, we are planning to talk to different tools that are planning to include Cardano DeFi protocols and understand their endpoint needs. 

Development: (1 month)

The development process will be documented through open source repositories and our final documentation. 

[FEASIBILITY] Please provide a detailed budget breakdown.

Total: 7,900 USD

Research: 15 hours - 1,200 USD 

Development: 70 hours - 6,700 USD

Research 15 hours

• Research of currently existing API endpoints 3 hours
• Reaching out to different Cardano DeFi DApps 6 hours
• Reaching out to different information aggregators (e.g. DeFi dashboards) 6 hours

Development 70 hours

• Architecture and Model Design 20 hours
• Analysis of API endpoints 10 hours
• Development of reference application 30 hours 
• Documentation of API endpoints 10 hours

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

The MuesliSwap development team will work on this project. The MuesliSwap development team currently consists of 9 developers with experience in different fields from which most are long-standing Cardano community members. With Muesliswap being the first major DAapp launching in November 2021 the team has gained a lot of experience in developing decentralized finance infrastructure.

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

We are not planning to return for further funding in a later round for that specific project. Any additional costs of development are planned to be covered by the MuesliSwap team.

[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 are trying to be very transparent throughout the entire development process. As part of the process, we are planning to publish our reference implementation and the well-documented API endpoints. 

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

We hope that the developed approaches will be implemented by dApps on Cardano, enriching the entire ecosystem. We at MuesliSwap are planning to follow our new common API guidelines. This means that the developed work will already have the guarantee to be included in one of Cardano's biggest DeFi protocols. 

[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 from the MuesliSwap team.