Please describe your proposed solution.
There are three stages to the proposal, each of which build on the ones before, but can be started before the previous ones finish.
- Standardization - The process of getting an addition to the CIP 68 standard written, reviewed and ratified. The first two drafts of the proposal have already been written; however, this does not mean the process is over. Once submitted for review, many CIPs and CIP additions go through significant revision before ratification. As revisions become smaller and less-contentious, we’ll be able to start work on the next step.
- Implementation - The design and development of a reference implementation to be included in the Cardano Foundation’s CIPs repository for all developers to reference & use as desired. Like the existing CIP 68 reference implementations, this is to be written in PlutusTx for onchain and Lucid for offchain, all done entirely open source.
- Integration - The identification of and integration into 3-5 of the most vital open source libraries & tools in the ecosystem, such as Lucid, Blockfrost, or Cardano-Transaction-Lib. We also intend to provide assistance to dapps who need help implementing the protocol into their own system.
With these three pieces in place there will be plenty of resources and documentation for any project or dapp to use CIP 68 onchain royalties without needing to worry about implementation or ambiguity.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
The inability to create trustless onchain royalty validation is a major drawback to Cardano NFTs. By upgrading the standard to support onchain validation, we can eliminate that drawback and demonstrate better support for NFT creators, ultimately attracting dapps & NFT projects that would otherwise have taken their talents to another blockchain.
The reference implementation also makes Cardano more attractive to dapps & projects. When it comes to choosing a platform for your dapp, limiting uncertainty is a major consideration. With the reference implementation, developers will be able to more quickly gauge how much effort it will be to implement the standard, allowing them to make a more informed decision.
By creating a reference implementation we also help to kickstart adoption of this new standard, as developers in the ecosystem will be able to refer to it to more quickly & easily implement the standard in their own products & libraries. In order to amplify this effect, we also plan to wrap up the project by assisting these developers in the implementation process.
How do you intend to measure the success of your project?
- Engagement on the CIP proposal
- Number of open source libraries implementing the standard
- Number of downloads of open source libraries implementing the standard
- Number of dapps enforcing the standard
- Number of projects using the standard
- Volume of projects using the standard
Please describe your plans to share the outputs and results of your project?
- Grabbit Twitter
- Ikigai Twitter
- Personal Twitter
- Newsletter
- Ikigai Medium
- Discord
- Grabbit Discord
- Ikigai Discord
- Catalyst
- Presentation to Project Catalyst Town Hall
- Telegram
- Grabbit Telegram
Most of the metrics will need time for adoption, so we will share updates as the three stages of the project are completed, as well as fourth retrospective once some time has allowed for developers to implement the new standard.