Please describe your proposed solution

We propose to develop a comprehensive API platform offering real-time price, swaps, and token data for the Cardano ecosystem, similar to Jupiter Metropolis API. This platform will provide developers with essential tools to build custom trading bots, analytics applications, and other services that require accurate market data and trading apis. By offering these APIs for free (if funded), we aim to lower the barrier to entry for developers and stimulate innovation within the Cardano community.

Please define the positive impact your project will have on the wider Cardano community

Ecosystem Growth: Providing free access to comprehensive APIs will encourage developers to build new applications, leading to increased activity and growth within the Cardano ecosystem.

Innovation Enablement: Developers can create custom trading bots, analytics tools, and other innovative services, enhancing the functionality available to users.

Increased Trading Volume: Enhanced tools and applications can lead to higher trading volumes, benefiting liquidity providers and traders alike.

Community Empowerment: By lowering development costs, we empower a broader range of developers, including independent and small teams, to contribute to the ecosystem.

Competitive Edge: Offering robust APIs can attract projects from other ecosystems to build on Cardano, improving its competitive position in the DeFi space.

What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Our team has extensive experience in developing DeFi applications, exemplified by our work on DexHunter, Cardano's leading DEX aggregator. We possess the technical expertise to build scalable and reliable API services. Currently, DexHunter processed more than half of the entire Cardano trading volumes.

What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Milestone 1: Planning and Design

• Duration: 1 month
• Milestone Outputs:
• Comprehensive project plan outlining all phases and tasks.
• Detailed API specifications for price, swaps, and token data endpoints.
• Creation of initial architecture diagrams and data flow models.
• Acceptance Criteria:
• Project plan reviewed and approved by the team.
• API specifications finalized after team and potential user feedback.
• Documentation prepared for development kickoff.
• Evidence of Milestone Completion:
• Documentation of the project plan and timelines.
• API specification documents available for review.
• Initial design documents shared in team repositories.

Milestone 2: Milestone 2: Core API Development

• Duration: 2 months
• Milestone Outputs:
• Development of the backend infrastructure to collect and process real-time data from multiple sources.
• Implementation of API endpoints for price data, swap information, and token metadata.
• Establishment of robust data validation and error-handling mechanisms.
• Acceptance Criteria:
• APIs pass internal testing for reliability and performance.
• Codebase covered with unit and integration tests.
• APIs documented for developer use.
• Evidence of Milestone Completion:
• Updated codebase in the GitHub repository with latest commits.
• Test results demonstrating API performance and reliability.
• API documentation published for internal review.

Milestone 3: Milestone 3: API Platform Launch Preparation

• Duration: 1 month
• Milestone Outputs:
• Deployment of the API platform in a staging environment.
• User authentication and API key management systems implemented.
• Developer portal created with documentation and usage examples.
• Acceptance Criteria:
• API platform is accessible and functional in the staging environment.
• Security measures in place to protect data and access.
• Positive feedback from initial testers.
• Evidence of Milestone Completion:
• Access provided to the staging environment for testing.
• Documentation and developer resources available online.
• Testimonial or feedback reports from early adopters.

Milestone 4: Milestone 4: Testing, Optimization, and Security Audits

• Duration: 1 month
• Milestone Outputs:
• Comprehensive testing including load testing, stress testing, and security assessments.
• Optimization of API performance based on testing results.
• Completion of professional security audits.
• Acceptance Criteria:
• APIs perform reliably under high load with low latency.
• No critical security vulnerabilities identified in audits.
• All identified issues resolved satisfactorily.
• Evidence of Milestone Completion:
• Testing reports detailing performance metrics and security assessments.
• Audit reports from third-party security professionals.
• Documentation of fixes and optimizations made.

Milestone 5: Milestone 5: Public Launch and Community Engagement

• Duration: 1 month
• Milestone Outputs:
• Public launch of the API platform with free access for developers.
• Marketing materials and outreach to promote the platform.
• Production of a closing video summarizing the project and its benefits.
• Acceptance Criteria:
• APIs are live and accessible to the public without major issues.
• Positive initial user engagement and developer sign-ups.
• Closing video effectively communicates the project's value.
• Evidence of Milestone Completion:
• Live API platform accessible via the official website.
• Analytics reports showing API usage and developer registrations.
• Closing video published on official channels and shared with the community.

Final Milestone: Final: Final documentation and video

• Duration: 1 month
• Milestone Outputs:
• Final close-out report
• Final closeout video
• Acceptance Criteria:
• Final closeout report is publicly available
• Final closeout video is publicly available
• Evidence of Milestone Completion:
• Link to final closeout report
• Link to final closeout video

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

CEO & Project Lead: Nikita Melentjevs

• Project management, strategic planning, and partnerships.

Backend Development Lead: Edoardo Carlo Salvioni

• Backend infrastructure development, data aggregation, and API implementation.

Please provide a cost breakdown of the proposed work and resources

Milestone 1: Planning and Design

• Duration: 1 month
• Cost Estimate: 15% (35,250 ADA)
• Planning sessions, API specification drafting, design work.

Milestone 2: Core API Development

• Duration: 2 months
• Cost Estimate: 35% (82,250 ADA)
• Backend development, data aggregation systems, testing frameworks.

Milestone 3: API Platform Launch Preparation

• Duration: 1 month
• Cost Estimate: 20% (47,000 ADA)
• Deployment costs, developer portal creation, authentication systems.

Milestone 4: Testing, Optimization, and Security Audits

• Duration: 1 month
• Cost Estimate: 15% (35,250 ADA)
• Comprehensive testing, optimization, and security audits.

Milestone 5: Public Launch and Community Engagement

• Duration: 1 month
• Cost Estimate: 10% (23,500 ADA)
• Marketing efforts, closing video production, community outreach.

Additional Costs:

• Contingency Reserve: Approximately 5% (11,750 ADA)
• For unforeseen expenses and adjustments during the project.

Third-Party Products/Services:

• Security audit services.
• Hosting and cloud infrastructure costs.
• Professional services for legal compliance and data protection.

We depend on existing decentralized exchanges (DEXs) and blockchain data providers for real-time price, swaps, and token data. Integration with these platforms is essential to aggregate accurate and comprehensive data for the API services.

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

The investment will catalyze growth in the Cardano ecosystem by providing essential infrastructure that is currently lacking. By enabling developers to build advanced applications without the barrier of high data access costs, we foster innovation and increase network utility. The resultant growth in applications, trading volume, and user engagement offers substantial value relative to the funding requested.