Please describe your proposed solution.
PART 1 (current proposal)
Blockchain analytics companies like Dune Analytics and Messari are massively popular on EVM blockchains and have provided huge benefits across various applications. They have empowered developers to build better dApps, traders make better decisions and researchers discover new trends in DeFi.
Data Accessibility:
The Cardano blockchain contains vast amounts of data that is publicly available but can’t be easily accessed nor analyzed. This project will abstract away all that complexity and offer easy access to valuable smart contract data. It significantly reduces the barrier to entry for users looking to explore Defi data from top Cardano projects.
Scope of work:
- REST API to access smart contract data feeds from top Cardano dApps
- Minswap, Liqwid
- 2-3 Project TBD (eg Wingrider, Indigo, VIFY, etc.)
- High fidelity financial data feeds designed for low-latency, which are a necessity for DeFi applications involved in trading, derivatives, and risk management.
- Enterprise-grade security, reliability and availability
Data Analysis:
Even with access to raw blockchain data, analyzing specific smart contract interactions happening on DEXes and Lending protocols can be quite challenging. This project will also process and aggregate contract data into dApp metrics and financial indicators to enable more advanced blockchain analytics particularly valuable for researchers, traders, and developers looking to extract deep insights from Cardano’s Defi ecosystem.
Scope of work:
- REST API to access aggregated dApp metrics and financial indicators
- Dexes - market price, trades volume, order book, pool liquidity, token TVL, and other token metris etc.
- Lending protocols - borrowing/lending rates, loan status, liquidations, and other loan metrics etc.
- NFT marketplaces - floor price, trade volume, sale history, policy history, and other NFT metrics
PART 2 (future proposal)
Data Visualization: Extracting insights from time series data can be difficult without the right tools and interface. This proposal will allow users to create custom dashboards with various visualizations similar to Dune Analytics. Users will be able to sort, filter, aggregate data to identify trends and gain valuable insight.
Knowledge Sharing: In many cases, users must start their analyses from scratch, even if others have conducted similar analyses in the past. This project will foster an open community where users can share their analyses and build upon the work of others. This saves time and promotes a collective understanding of the Cardano ecosystem.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
Some cardano projects have already confirmed that they will use this solution to power key components in their Dapps. These projects are:
- Metera: Platform to create and invest in tokenized portfolios
- Genius Yield: Next-generation DEX and yield optimizer
However this proposal offers new possilibites for the community at large. It brings new capabilities to Scrolls, an open-source Cardano indexer and integrates with Maestro’s Dapp platform to offer a novel and powerful interface to:
1) Access complex DeFi data
2) Explore DeFi trends in real-time, and
3) Discover new valuable blockchain insights.
Whether you're a developer, researcher, or trader, this powerful toolset will completely democratize access to the Defi data and help further fuel adoption and innovation in the ecosystem.
How do you intend to measure the success of your project?
Measuring success of this project will be straightforward. Data feed API metrics will be tracked, monitored and shared publicly to the community to evaluate API usage growth, request volume and endpoint distribution. The public report will include:
- Daily & monthly request volume
- Monthly active users and growth rate
- Monthly endpoint usage distribution
Please describe your plans to share the outputs and results of your project?
The benefits of the project will be available either as a self-hosted solution or hosted API service to the community.
Self-hosted
A fork of Scrolls will be open-sourced and extended to include these new reducers that can parse and process smart contract market data.
Hosted API
For users who don’t want to run their own Scrolls infrastructure, Maestro will offer an end-to-end data feed API, fully managed by its internal indexer and data processing pipeline to provider a high-fidelity, high-performance smart contract data feeds. This will lower the barrier to entry and democratize DeFi metrics for everyone. It will empower teams to build better dApps and offer innovative features such as Metera and Genius Yield.