Please describe your proposed solution.

Amaano is currently a payment system app for African users that uses Bitcoin as digital money and fiat currency for on and off-ramp capabilities through an agent system. However, Amaano wants to improve its service and extend its capabilities by integrating its app with the Cardano blockchain and using DJED for transactions between users' app wallets.

The primary goal of the project is to integrate the Amaano app with the Cardano blockchain and enable users to buy and sell DJED in their transactions.

Participants

1. Users: the target audience of the Amaano app who will use the app to facilitate payments and transactions.
2. Agents: the intermediaries between the users and Amaano app who will facilitate the exchange of fiat currency and Stablecoin.

User requirements

1. Users should be able to add and cash out fiat money from any Amaano agent in exchange for Stablecoins. The process should be quick and easy, and the user interface should be intuitive and user-friendly as is right now.
2. Agents should be able to deposit digital money to users in exchange for cash and vice versa. The process should be secure and hassle-free, with minimal transaction fees.

General Design

The system is designed to support the creation and management of custodial wallets for users and agents, and to facilitate transaction processing between them. The system is blockchain agnostic and can support multiple cryptocurrencies and blockchain technologies.

1. Wallet Service: Responsible for creating and managing custodial wallets for users and agents. It will handle blockades and limits, if any. The service will also support multiple cryptocurrencies and interact with the blockchain gateways to execute transactions.
2. Transaction Service: Handles transaction processing, status, and history. It can be broken down into several services, depending on the complexity of the system. The service will communicate with the blockchain gateways to execute transactions.
3. Blockchain Gateways: Responsible for executing transactions on the blockchain networks. Each blockchain gateway will support a specific cryptocurrency and interact with the corresponding blockchain network. Each blockchain gateway will handle fee calculation, polling/transaction events to check the transaction status, and rate for currency.
4. Agent API Gateway / User API Gateway: The API gateway will serve as the entry point for user and agent transactions. It will interact with the wallet service and transaction service to execute transactions.
5. Back Office: The back office will provide a coin management interface that enables the setting of fee rates, blocking, and viewing user and agent history. This service will interact with the wallet service and transaction service.
6. Frontend: A front end can be developed for the back office, which is not necessary to start, as the available APIs can be used.

The proposed system can support multiple blockchain technologies and cryptocurrencies as the underlying platform. Each blockchain technology will require its own blockchain gateway, which will handle the interactions with the corresponding blockchain network.

For scalability, services such as the Transaction Service and Blockchain Gateways can be independently scaled as needed. The solution is independent of the current system and only requires user/agent claims.

The system will be designed to be scalable and reliable, allowing for each service to be independently scaled to meet the needs of the system. The technology used will be chosen based on the specific needs and requirements of the system.

Technical Diagram

How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

The Cardano ecosystem will effectively address real-life challenges by leveraging its global infrastructure. By providing solutions to everyday payment activities for regular individuals in Africa, the ecosystem will attract more users to join the Cardano network. Cardano aims to become an essential infrastructure for the daily lives of people in Africa, serving as a vital platform for their day-to-day needs. Ultimately, our proposed solution brings several benefits to the Cardano ecosystem:

Enhanced Adoption and User Growth

We aim to bring a significant number of users to the Cardano ecosystem. Through the app, users will have access to a seamless and user-friendly interface for buying and selling DJED and engaging with Cardano's blockchain capabilities. We anticipate attracting <u>thousands of new users</u> to the Cardano community <u>within the first six months</u> of the project completion.

Increased Transaction Volume and Usage

The integration of the Amaano App with Cardano will facilitate a substantial increase in transaction volume within the Cardano ecosystem. As users engage with DJED, conducting transactions, and utilizing the app's features, we estimate processing <u>tens of thousands of transactions per month</u>. This increased usage will contribute to the growth and vitality of the Cardano network, fostering a vibrant and active ecosystem.

How do you intend to measure the success of your project?

While it is important to note that the success and impact of the project will depend on various factors such as market conditions, user adoption, and competitive landscape, we believe that the integration of the Amaano App with Cardano has the potential to bring thousands of new users, generate a significant increase in transaction volume, and contribute to the overall growth and strength of the Cardano ecosystem.

This project will benefit the ecosystem in the following ways:

Please describe your plans to share the outputs and results of your project?

Our plans to share the outputs and results of the project involve a multi-faceted approach to ensure maximum visibility and dissemination of information. We will adopt the following strategies:

1. Communication Channels: We will utilize various communication channels such as our website, blog, and social media platforms to share regular updates, milestones achieved, and key outcomes of the project. This will allow us to reach a wide audience within the Cardano community and beyond.
2. Community Engagement: We will actively engage with the Cardano community through forums, discord/telegram discussion groups, and events to share our project's outputs, impact, and opportunities. This includes participation in Cardano-focused conferences, meetups, and online communities to connect with stakeholders and share our learnings.
3. Documentation and Reports: We will create comprehensive documentation, reports, and case studies detailing the project's outputs, outcomes, and lessons learned. These materials will be made publicly available to provide transparency and facilitate knowledge sharing.
4. Partnerships and Collaborations: We will seek partnerships with organizations and projects within the Cardano ecosystem to leverage their networks and platforms for wider dissemination of our project's outputs. Collaborative efforts will enable us to reach a larger audience and foster mutually beneficial relationships.

We intend to use the profit generated from the project to fuel further development initiatives. This includes exploring new use cases and applications for Cardano, expanding our partnerships with businesses and organizations, and supporting the growth of the ecosystem through developer grants and funding. By reinvesting in expansion activities, we aim to strengthen the Cardano ecosystem and foster its long-term sustainability and success.

What is your capability to deliver your project with high levels of trust and accountability?

By combining our current user traction, strategic partnership with Haskel.team, transparent financial management, experience, and effective communication, we have the capability to deliver this project with the highest levels of trust and accountability. Our team's unique combination of expertise and African real-world insights positions us well to leverage the Cardano ecosystem and drive its productivity and growth.

Implementation with Haskel.team, a company composed of <u>former IOG employees</u> who possess extensive knowledge and expertise in Cardano's technology. This partnership brings together our practical experience and their technical prowess, ensuring that the project is guided by industry experts and built on a strong foundation.

Also, the Amaano app has <u>already gained traction among users</u>, demonstrating its value and appeal. This existing user base provides us with valuable insights, feedback, and a strong foundation for further growth. By leveraging this user traction, we can drive adoption of the integrated Cardano features and expand the reach of the ecosystem.

We ensure proper management of funds through:

1. Detailed Budgeting: We create comprehensive budgets to allocate funds appropriately, covering all project expenses.
2. Financial Controls: We maintain strict oversight, with designated individuals managing funds and implementing approval processes for expenditures.
3. Multi-Signature Wallets: We employ multi-signature wallets to enhance security and require multiple key holders to authorize fund transfers, preventing unauthorized access.
4. Open Auditing: Our financial processes are auditable by the community and external stakeholders, allowing for independent verification of fund management practices.

What are the main goals for the project and how will you validate if your approach is feasible?

The main goals of our project are as follows:

Seamless Integration

Our goal is to successfully integrate the Amaano app with the Cardano blockchain, enabling secure and efficient transactions between users and agents using a stablecoin.

Enabling DJED on/off-ramp Transactions

We aim to facilitate seamless fiat on/off-ramp transactions between users and agents using the DJED stablecoin within the Amaano app. This will provide users with a reliable and convenient digital payment method for various services and transactions.

We will validate the feasibility of our approach through:

1. Transaction Volume and Growth: Tracking the monthly number of DJED transactions to measure adoption.
2. User Adoption and Engagement: Assessing the number of active users and their engagement within the app.
3. User Satisfaction and Feedback: Gathering qualitative feedback to evaluate the usability and convenience of the system.
4. Agent Integration and Usage: Monitoring the number of integrated agents and their participation in DJED transactions.

Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Key Milestones:

1 - Development of Core Functionality

• Tasks:

1. Implement Wallet Service for non-custodial wallet management.
2. Develop Transaction Service to handle transaction processing and history.
3. Integrate Cardano blockchain for DJED buying and selling.
4. Implement Blockchain Gateway for Cardano transactions.

• Timeline: 2 months
• Acceptance criteria: Core functionalities are developed, tested, and integrated with Cardano.
• Projected cost:

2 - Agent Integration and Testing

• Tasks:

1. Develop Agent API Gateway for seamless interaction between agents and the app.
2. Integrate agent functionalities for digital money exchange with cash.
3. Conduct extensive testing and debugging to ensure reliability and security.
4. Perform user acceptance testing with a select group of users and agents.

• Timeline: 2 months
• Acceptance criteria: Agents can interact with the app for cash transactions, and user feedback is positive.
• Projected cost:

3 - Back Office Development and Frontend Implementation

• Tasks:

1. Develop Back Office system for coin management, fee rate setting, and history viewing.
2. Implement a user-friendly frontend interface for the Back Office.
3. Conduct thorough testing and quality assurance of Back Office functionalities.

• Timeline: 2 months
• Acceptance criteria: Back Office system is functional, and the frontend interface is intuitive and user-friendly.
• Projected cost:

4 - Infrastructure and Deployment Preparation

• Tasks:

1. Prepare for production deployment, including infrastructure setup and configuration.
2. Conduct final system testing, load testing, and security audits.
3. Create comprehensive documentation and user guides for the app.

• Timeline: 2 months
• Acceptance criteria: Infrastructure is ready for production deployment, and the system passes security audits.
• Projected cost:

5 - Launch and User Onboarding

• Tasks:

1. Launch the integrated Amaano app with Cardano integration.
2. Monitor system performance, gather user feedback, and make necessary improvements.
3. Conduct marketing and awareness campaigns to onboard users to the new features.
4. Provide support and training resources for users and agents.

• Timeline: 2 months
• Acceptance criteria: Amaano app is successfully launched, positive user feedback is received, and user adoption increases.
• Projected cost:

6 - Continuous Improvement and Evaluation

• Tasks:

1. Continuously monitor system performance, gather user feedback, and address reported issues.
2. Analyze user adoption rates, transaction volume, and user satisfaction metrics.
3. Identify areas for optimization and enhancement based on user needs and market trends.
4. Conduct a comprehensive project evaluation, document lessons learned, and provide recommendations.

• Timeline: 2 months
• Acceptance criteria: System performance is improved based on user feedback, and project evaluation provides valuable insights.
• Projected cost:

Please describe the deliverables, outputs and intended outcomes of each milestone.

Please provide a detailed budget breakdown of the proposed work and resources.

Considering a rate of 0.3 ADA/USD, here's a breakdown of the proposed work and resources:

<u>Cardano Integration ($80,000 = </u>₳<u>266,666</u><u>):</u>

• Hiring specialized developers/consultants for Cardano integration: $65,000
• Cardano blockchain API and transaction fees: $15,000

<u>Payroll ($25,000 = </u>₳<u>83,333</u><u>):</u>

• Salaries and compensation for the project team members: $25,000

<u>Compliance ($10,000 = </u>₳<u>33,333</u><u>):</u>

• Legal consultations and compliance audits: $10,000

<u>Marketing and PR ($20,000 = </u>₳66<u>,666</u><u>):</u>

• Advertising and promotional campaigns: $10,000
• Content creation and social media management: $5,000
• Community engagement activities: $5,000

<u>Software Tools ($15,000 = </u>₳50,000<u>):</u>

• Development frameworks and libraries: $10,000
• Project management tools: $2,000
• Testing tools and licenses: $3,000

Total Budget: 300,000 USD = ₳500,000

Who is in the project team and what are their roles?

Founder & CEO

The visionary behind the amaano company who takes on the project coordination and leadership role. Responsible for setting the project's strategic direction, overseeing task delegation, and ensuring effective communication between team members.

• Name: Ozy Muse
• Experience: Ozy is an entrepreneur with extensive experience in technology. He was early bitcoin adapter and founder of a Bitcoin ATM start-up (amaano BTC). He wants to bring that experience in building a platform where friends and family can send money and share moments.
• Linkedin: Link

Cardano Blockchain Developers

Experts in Cardano blockchain development, proficient in implementing smart contracts and integrating them with existing applications. Handles the Cardano integration, ensuring seamless functionality with the Amaano app.

• Name: Bartłomiej (Bart) Kącicki

• Experience: Former Technical Consultant at IOG, specializing in Banking, Financial Markets, Crypto and Identity (SSI). Recently helping companies to capture potential of Web3, blockchain and SSI, identifying business value and (re)designing business models in iterative approach to innovate and validate business hypothesis.

• Linkedin: link

• Name: Kamil Manka

• Experience: A web3 architect with a diverse skill set encompassing functional programming, blockchain, and DeFi. Proficient in programming languages such as Haskell, Scala, and DAML. Has built a DEX on Cardano, and worked in the Hong Kong Stock Exchange and Australian Securities Exchange blockchains implementations.

• Linkedin: Link

Financial analyst and research

• Name: Salma Adan
• Experience: Salma is a skilled Financial analyst with 5+ years of experience. previously worked with Sendwave. She is Proficient in analytical tools to ensure optimization and building solution models that have a proven track record of excellence. Some of her core skills include taxation, regulatory compliance, budgeting, and forecasting. Supervised internal and external audits. Adept at analytics and in-depth reporting service she has an MBA and CPA-Kenya
• Linkedin: Link

Full-Stack Developer

A skilled developer with expertise in web and mobile application development. Responsible for implementing frontend and backend functionalities for the integrated Amaano app, working closely with the Cardano developer.

• Name: Mohamed Ateq
• Experience: Mohammed is a seasoned engineer with extensive experience. Before joining amaano, Mohammed spent 8 years as backend engineer working in different products such as Hotel, Bill Payment, e-commerce and blockchain tech.
• Linkedin: Link

Compliance Specialist

A knowledgeable professional well-versed in regulatory requirements and compliance standards relevant to the payment industry. Ensures that the integration adheres to legal and regulatory frameworks, working closely with the founder to address compliance-related concerns.

• Name: Evelyn Wanjiru Mwangi
• Experience: Evelyn is experienced legal and compliance officer in blockchain. Expert in regulations, contract negotiation, and risk mitigation. Eager to contribute to industry growth.
• Linkedin: Link

Infrastructure Engineer

• Name: Ilie SoltaniciI
• Experience: Ilie is a highly motivated and enthusiastic technologist who enjoys learning, problem solving, and sharing knowledge. Ilie’s the guy who does the dirty work for amaano, DevOps, Solutions Architect, Cloud and VoIp. Infrastructure engineer

Linkedin: Link

Marketing Specialist

A skilled marketer who develops and executes effective marketing strategies to promote the integrated Amaano app. Collaborates with the founder to create compelling content, manage social media channels, and drive user acquisition.

• Name: Onyemobi Anyiwo
• Experience: Onyemobi is a crypto enthusiast. A graduate of the University of Maryland College Park, he has degrees in Engineering & Africana Studies. In his spare time, he enjoys running the Defi Columbus meetup group and teaching cryptocurrency workshops.
• Linkedin: Link

How does the cost of the project represent value for money for the Cardano ecosystem?

The cost of the project represents value for the Cardano ecosystem by ensuring expertise, quality, and compliance. The budget allocation allows for the hiring of specialized developers, ensuring a high level of knowledge and experience in Cardano integration. Additionally, the inclusion of compliance measures and security considerations helps build trust and mitigate risks. The budget also accounts for marketing and PR activities to promote the integrated app, driving user adoption and expanding the ecosystem's reach. By allocating resources efficiently and based on industry standards, the project aims to deliver a comprehensive and cost-effective solution.

The cost estimates are grounded in market research and industry standards. They reflect competitive salaries to attract skilled professionals and ensure the project's success. The budget prioritizes key aspects such as development, compliance, marketing, and software tools, providing a well-rounded approach. By investing in the right resources and activities, the project aims to deliver significant value to the Cardano ecosystem, fostering growth, adoption, and long-term sustainability.