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[IMPACT] Please describe your proposed solution.

The cross-chain experience from a user’s perspective

Many of the proposals that address “The Great Migration” naturally focus on encouraging Ethereum-based projects to migrate to Cardano; however, NuFi’s proposal focuses on a project’s existing user base who, to engage with the project after it migrates to Cardano, must first migrate their assets then manage assets on multiple chains thereafter. If this process is not simple, a project can expect significant user drop-off along the way, making migration to Cardano less appealing.

The problem with existing solutions

The existing trustless solutions are not straightforward for non-technical users who want to migrate assets from Etheruem to Cardano. At best, users must configure Metamask to add Milkomeda sidechain’s RPC before creating a Cardano wallet and connecting two wallets to a bridge; at worst, the process involves multiple wallets, multiple bridges and a degree of technical know-how. Alongside this, there is no single entity responsible for providing start-to-finish customer support to migrators in need of help.

We asked ourselves:

Q: “How simple should asset migration be for non-technical users?”

A: “A single multi-chain wallet connecting to a single bridge.”

NuFi’s solution improves the Ethereum to Cardano cross-chain experience for non-technical users by providing a single non-custodial Web3 wallet that:

✔️ supports the Ethereum, Milkomeda and Cardano accounts needed for asset migration;

✔️ connects all accounts to a bridge where assets can be migrated; and

✔️ allows for multi-chain asset management and multi-chain dApp connectivity.

Below is the user journey we envision, the outcomes from a non-technical user’s perspective, and the implementations needed to achieve this:

User Journey Step 1: Preparing accounts

• The user restores an existing Ethereum wallet into NuFi’s interface using its seed phrase or by pairing a hardware wallet; at this time, NuFi creates Milkomeda and Cardano accounts automatically for the user. Alternatively, the user may be able to import an existing Ethereum account into an existing NuFi wallet using a private key.
• Outcome 1: In under 1 minute and with a single action, the user has created all accounts needed for the migration process side by side in a single wallet interface.
• Outcome 2: The user does not need to manually configure Metamask (to support Milkomeda sidechain) nor set up a new Cardano wallet from scratch.
• Implementations needed: Ethereum blockchain and Milkomeda sidechain integrations into the NuFi wallet (NuFi already supports Cardano and we have done basic preparations for EVM chains integration).

User Journey Step 2: Connecting and Migrating Assets

• Using NuFi’s Chrome extension with dApp connector, the user connects the Ethereum, Milkomeda and Cardano accounts to a bridge (such as Iagon Bridge) as needed. Now connected, the user can migrate assets in two send transactions: Ethereum to Milkomeda, and Milkomeda to Cardano, bridging tokens such as USDC and USDT stablecoins, wETH, wBTC, and others. This process could be reduced to just one send transaction if Iagon AS’s Fund9 proposal is also funded (in the ‘Cross-chain Compatibility’ challenge).
• Outcome 1: With a couple of clicks, the user is able to connect all 3 accounts as needed to a single bridge to seamlessly migrate assets.
• Outcome 2: During the asset migration process, the user is able to view transaction statuses/account histories across all 3 chains from a single interface.
• Implementations needed: Develop Ethereum and Milkomeda dApp connectors for NuFi’s existing Chrome extension, and integrate NuFi with an asset bridge.

User Journey Step 3: Multi-chain asset management and connectivity 

• After migrating their assets to Cardano, the user engages with the newly-migrated project using the NuFi wallet, and can explore all corners of the Cardano ecosystem.
• Outcome 1: The user is able to use the migrated assets to interact with the migrated project in its new environment, plus explore Cardano’s ecosystem through a non-custodial, hardware wallet-compatible interface. NuFi’s existing in-app functionality makes it possible for the user to connect to Cardano dApps (such as marketplaces, DEXes, DeFi, gaming, metaverses and more), stake $ADA (and participate in ISPOs), visually manage CNFTs in an NFT gallery, trade assets in-app using the integrated Cardano DEX and cross-chain Exchange, and purchase $ADA using card or bank transfer.
• Outcome 2: Support for Ethereum blockchain and an Ethereum dApp connector mean that a user can continue to engage with the Ethereum ecosystem and manage Ethereum assets that are not bridged without needing to switch wallets. Support for Milkomeda sidechain and a Milkomeda dApp connector allow the user to do the same in Milkomeda’s ecosystem.
• Implementations needed for Outcome 1: None (other than those already mentioned in steps 1 and 2 above). NuFi is at present a non-custodial multi-chain wallet (supporting Cardano, Solana and Flow blockchains) with a working Chrome extension and all of the in-app functionality described above.
• Implementations needed for Outcome 2: MetaMask emulation mode
• As we can’t expect many Ethereum-based dApps to support NuFi’s dApp interface initially but still want to give users a full Ethereum dApp experience, we will have a MetaMask emulation mode. If this mode is turned on, when the user tries to connect with MetaMask on Ethereum (or another EVM) blockchain, the connection will be overridden by NuFi and the dApp connection will instead be prompted through NuFi’s Chrome extension dApp connector.

Who benefits from this proposed solution?

1) Non-technical users who need to migrate assets:

Non-technical users can enjoy a cross-chain experience (e.g. asset migration) that is frictionless (because no wallets need to be configured or created manually) and seamless (because Ethereum, Milkomeda and Cardano accounts connect as needed to a single bridge using a single wallet extension).

Post-migration, these same users benefit from being able to manage multi-chain accounts/assets side by side in a single wallet capable of connecting to dApps on each of the 3 blockchains. In addition, users will also be able to connect their NuFi wallet to dApps on different blockchains at the same time without the need to switch blockchain or account in the dApp connector.

2) Projects migrating from Ethereum to Cardano:

A project that decides to migrate from Ethereum to Cardano can rest assured that even its least tech-savvy user base will be able to migrate assets to continue supporting the project post-migration.

3) NuFi:

Through integrating Ethereum blockchain, NuFi will gain the foundations necessary to add additional EVM blockchains in the future (such as Polygon, Fantom, Algorand, BSC and many others, but mainly any other EVM chain that will be built on top of Cardano); these too can integrate with the same bridge and allow for ‘EVM chain > Ethereum > Milkomeda > Cardano’ asset migration in the way described above or they can even build their own EVM chain > Cardano bridges.

Notes:

This proposal references Iagon Bridge (bridge.iagon.com) as a service with which NuFi wallet could integrate to achieve the goals outlined here. The Iagon AS team has agreed to this integration if NuFi’s proposal is funded.

Furthermore, Iagon AS has submitted a proposal in Fund9’s ‘Cross-chain Collaboration’ challenge that would significantly improve the cross-chain experience by making it possible to migrate assets from Ethereum > Milkomeda > Cardano with a single transaction.

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

NuFi’s proposal addresses specific aims of “The Great Migration” challenge, namely:

“How might we make it easy and fast for dApps and other projects to expand or completely move from Ethereum to Cardano?”

Asset migration is an essential part of re-deploying a project in the Cardano ecosystem; if this process is not fast and easy, we can expect significant user drop-off along the way. NuFi’s proposal improves the current solutions by reducing the number of steps, wallets and tools needed in the most frictionless manner possible: one multi-chain wallet and one bridge (e.g. Iagon Bridge).

Furthermore, users who migrate to Cardano will be able to manage Ethereum accounts alongside Milkomeda and Cardano accounts for a true multi-chain experience, and connect to Ethereum, Milkomeda and Cardano dApps with a single wallet for true multi-chain connectivity; if this can be provided in the way described in this proposal, a migrator is much more likely to remain in the Cardano ecosystem.

“Many efforts are currently underway such as … Milkomeda. These projects are reaching the point where they are mature enough for people to deploy using them or build tooling for them.”

NuFi’s proposal not only utilizes Milkomeda’s services as part of asset migration, but integrates Milkomeda sidechain into the NuFi wallet; with this, a user will be able to manage Milkomeda accounts and connect to dApps in Milkomeda’s ecosystem via NuFi.

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

Internal risks:

Our team won’t be able to deliver the projects within the allocated budget.

NuFi has its own revenue streams; if we realize that we underestimated the cost of the project, we will be able to finish the project with our own resources. This may prolong the project as our resources are thin but we can guarantee the delivery.

NuFi’s dApp connector will not be integrated with Ethereum and other EVM chains’ dApps and therefore users won’t be able to embrace the full cross-chain experience.

We will allow users to turn on ‘MetaMask override mode’ in which NuFi’s Chrome extension will emulate MetaMask behavior, meaning users can connect to any dApp that has MetaMask integration.

The UX/UI for the multi-blockchain multi-account dApp connector will be too complicated to be used by average retail users.

With an iterative approach to development and product design, we will be incrementally improving the UX to achieve the desired experience.

External risks:

Another multi-chain dApp connector wallet will integrate Cardano and make this project redundant.

Though very unlikely due to the complexity of Cardano, competitors like Math wallet or Coin98 wallet may come to Cardano. Our mitigation strategy is to support a wide range of functionality for Cardano which will be very complicated for the competition to support (already implemented: Cardano NFT support, staking, multi-asset sending in a single transaction, Ledger and Trezor hardware wallet support).

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

Month 1

• Support for Ethereum and ERC-20 assets in the wallet

Month 2

• Support for Ethereum in dApp connector

• MetaMask override functionality

Month 3

• Support for Milkomeda and Milkomeda ERC-20 assets in the wallet

• Support for Milkomeda in dApp connector

Month 4

• Desired level of cross-chain UX achieved

• Support for assets other than ERC-20 assets (ERC-721 and ERC-1155)

[FEASIBILITY] Please provide a detailed budget breakdown.

Support for Ethereum blockchain, ERC-20 (and other) assets, and dApp connector (including MetaMask override function):

Research = 80 hours @ 80 USD/hour = Total of 6400 USD

Implementation = 400 hours @ 80 USD/hour = Total of 32000 USD

Testing and finalization = 80 hours @ 80 USD/hour = Total of 6400 USD

Support for Milkomeda sidechain, ERC-20 assets (and other), and dApp connector:

Research = 40 hours @ 80 USD/hour = Total of 3200 USD

Implementation = 200 hours @ 80 USD/hour = Total of 16000 USD

Testing and finalization = 60 hours @ 80 USD/hour = Total of 4800 USD

Integration with popular asset bridges (+ optimisation of UX):

Research = 40 hours @ 80 USD/hour = Total of 3200 USD

Consultations & changes = 80 hours @ 80 USD/hour = Total of 6400 USD

Creating support articles and training support staff:

Creating how-to articles/videos = 40 hours @ 40 USD/hour = Total of 1600 USD

Training customer support team = 20 hours @ 80 USD/hour = Total of 1600 USD

Marketing:

Personalized marketing outreach to influencers and knowledge management websites = 80 hours @ 40 USD/hour = Total of 3200 USD

Project & product management:

Project and product management of all project activities = 160 hours @ 80 USD/hour = Total of 12800 USD

Total = 97,600 USD

Notes:

The hourly rates listed above are average industry rates for developers and project staff with the necessary experience to deliver the projects in this proposal.

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

The NuFi team has a wealth of experience gained from numerous and varied blockchain and web3 projects. NuFi’s team members have managed, developed or consulted for crypto projects including AdaLite, Yoroi mobile wallet, Ledger and Trezor Cardano integration, WingRiders Cardano DEX, Jamonbread CNFT marketplace, Brud, Seiza blockchain explorer, decentralized storage, and others.

The team that will deliver this proposal is:

• Michal Petro - Project Lead

https://www.linkedin.com/in/michalpetro/

• Lubos Svolik - Project Manager

https://www.linkedin.com/in/lubossvolik/

• Rafael Korbaš - CTO

https://www.linkedin.com/in/rafael-korba%C5%A1-4b2a31b7/

• Richard Izip - FE Lead

https://www.linkedin.com/in/richard-izip-253622112/

• Michal Porubský - Software Developer

https://www.linkedin.com/in/michal-porubsk%C3%BD-537365144/

• Kamil Džurman - Software Developer

https://www.linkedin.com/in/kamil-d%C5%BEurman-0b18b6149/

• Andrej Želonka - Software Developer

https://www.linkedin.com/in/andrej-%C5%BEelonka-0563681a9/

• Gabriel Kerekeš - Software Developer

https://www.linkedin.com/in/gabriel-kerekes/

• Jacopo Buriolo - Marketing Manager

https://www.linkedin.com/in/jacopoburiollo/

• Ben Goldie - Community Manager

https://www.linkedin.com/in/goldieben/

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

We do not expect to apply for further funding in relation to this specific proposal, however we may apply in a later round to fund a proposal that will not generate revenue for us but has high added value for the ecosystem; an example of this is integrating Catalyst voting registration in the NuFi wallet.

[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 can collect the following information and report it on a quarterly basis via our social media channels:

1) The number of connections to an Ethereum > Milkomeda or Milkomeda > Cardano asset bridge using the NuFi wallet, and the number of transactions executed

This will indicate how many times NuFi’s wallet has been used to migrate assets from Ethereum to Milkomeda and from Milkomeda to Cardano.

2) The number of users who transact using both a Cardano and an EVM chain account

This will indicate how many users have transacted using an Ethereum or Milkomeda account alongside their Cardano account in the NuFi wallet, indicating how many users are making use of the multi-chain asset management from a single interface that this proposal would make possible.

3) The number of connections to Ethereum and Milkomeda dApps, and number of transactions executed on these blockchains using the NuFi wallet

This will indicate how many users are making use of the Ethereum and Milkomeda integrations described in this proposal.

4) The number of projects publicly recommending NuFi for i) asset migration and ii) multi-chain asset management

This will indicate how suitable for cross-chain activities NuFi’s solution is in the eyes of the projects whose user bases must migrate assets and manage assets on multiple chains thereafter.

5) The feedback collected via NuFi’s customer support portal, feedback board and Discord, Twitter and Reddit channels, and on the social media channels of influencers and partners during the marketing campaign

This will indicate how user-friendly the solution is and for what purposes users are using it, and will help us understand how it can be improved.

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

We will consider this project a success if:

• Users are able to set up the accounts needed for Ethereum to Cardano asset migration in under 1 minute and connect these accounts to an asset bridge using a single wallet extension;

• NuFi wallet is used to execute 20,000 transactions on Ethereum to Cardano asset bridges over a 12-month period;

• 15,000 users transact with both a Cardano and an EVM chain account at least once over a 12-month period;

• NuFi wallet is publicly recommended by at least 200 projects or users as a suitable wallet for cross-chain activities (e.g. asset migration) and multi-chain asset management over a 12-month period; and

• There are 20,000 connections to Ethereum or Milkomeda dApps using the NuFi wallet over a 12-month period.

[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 an entirely new proposal.