Please describe your proposed solution.
The primary challenge we are addressing is the complex process of managing a diversified portfolio of native Cardano tokens. The vast number of tokens and a lack of standardized and reliable investment mechanisms make this an arduous task for most cryptocurrency users.
Our approach is guided by the principle of democratizing access to Cardano tokens. We are creating the MAYZ protocol, a Decentralized Finance (DeFi) solution on the Cardano blockchain. MAYZ will provide a platform for users to gain exposure to investment funds consisting of tokens handpicked by experts and analysts. This approach simplifies diversifying a portfolio with Cardano tokens, opening up this investment avenue to a broader audience.
The beneficiaries of this project will be cryptocurrency enthusiasts, new investors looking for an easy way to diversify their holdings in Cardano tokens, and advanced traders interested in exploring new investment mechanisms. This solution is vital to the Cardano ecosystem as it lowers the barrier to entry for investment in native tokens, contributing to the growth and diversity of the Cardano network.
Technically, the MAYZ protocol will be developed as a suite of smart contracts on the Cardano blockchain. Each investment fund within the protocol will be composed of a unique Investment Unit containing different tokens. The composition of the Investment Unit can be modified according to market trends, ensuring optimal performance. An associated utility token, $MAYZ, will grant holders access to certain administrative functionalities.
The protocol will feature an interface accessible through a web portal. Users can invest in the Cardano ecosystem quickly and securely by holding Fund Tokens (FT) in their wallets. There will be mechanisms for acquiring a fund's tokens through the secondary market or by interacting directly with the Fund Contract.
The protocol includes key components such as:
- Protocol Smart Contract: Forms the backbone of the protocol, handling fund creation and regulating fund contracts.
- Funds Contracts: Manage individual funds, controlling their composition, tracking underlying assets' performance, and permitting modification of the Investment Unit based on market trends.
- Commission Contract: A unique system that allows fund managers to earn a commission from the fund's performance.
- Re-indexing System: Enables adjustments to the composition of the Investment Units responding to market changes, ensuring optimal fund performance.
- Oracle Integration: Reliable oracles will be integrated for accurate and real-time price feeds for all assets within the protocol.
The $MAYZ token is an essential aspect of the protocol. It is a utility token that also serves as the governance token of the MAYZ protocol. Token holders can influence the protocol's future development and direction through decision-making processes.
Furthermore, we will provide a REST API, granting external platforms easy access to all protocol data and transaction creation capabilities. This feature will be beneficial for outside platforms and our official platform, enabling easy showcasing of funds and attracting users from various portals or websites. The API will also ease integration into diverse ecosystems, increasing the accessibility of our protocol.
Our solution democratizes access to a diverse range of Cardano tokens and benefits all parties in the crypto space, from enthusiasts to seasoned traders. We'll measure our impact by user engagement, diversity of tokens included in funds, and the total value locked in the protocol. By facilitating investment in native Cardano tokens, we aim to contribute to the Cardano network's growth and diversity.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
By launching the MAYZ protocol, we're establishing a fresh way for Cardano users to invest in, manage, and diversify portfolios of native Cardano tokens.
MAYZ aims to bolster Cardano's DeFi landscape by enabling effortless portfolio diversification within the Cardano ecosystem. The introduction of funds that track Cardano's native tokens provides an integration that significantly improves the end-user experience and gives more investment options. This proposal offers a powerful tool for investors looking to maximize their exposure to the potential of Cardano's native tokens, thereby further driving user interaction and adoption of the Cardano blockchain.
This will definitely be beneficial for Cardano protocols for Defi, Gaming, Metaverse, Oracles, DAOs, and AI.
SingularityNET AGIX
World Mobile Token WMT
AADA LENFI
MELD
NuNet NTX
SNEK
IAGON IAG
Muesliswap MILK
Cornucopias COPI
Minswap MIN
Indigo INDY
VyFinance VYFI
Genius Yield GENS
The Ape Society SOCIETY
Liqwid LQ
Sundae SUNDAE
Flac FLAC
Encoins ENCS
Wing Riders WRT
Charlie 3 C3
NMaker NMKR
Clay Mates CLAY
The MAYZ protocol is not just an innovative product; it also serves as a broad integration within the Cardano ecosystem. Its REST API enables easy access and transaction creation capabilities for external platforms, effectively opening avenues for more integrations and products to come alive. This open access allows for more seamless and connected experiences between different products within the ecosystem.
We anticipate that our project will considerably strengthen Cardano's ecosystem by attracting new users and increasing usage. As an investment tool, the MAYZ protocol is designed to draw a broad array of participants, from curious beginners to seasoned investors. By democratizing access to a diverse range of Cardano tokens, we predict that we can bring a considerable number of users to the Cardano ecosystem.
Beyond the sheer numbers, MAYZ's proposed value also lies in enhancing Cardano's DeFi offering. By filling the gap in index funds for native tokens, we're addressing a key problem in the Cardano ecosystem and strengthening its infrastructure. This solution will improve user experience, foster innovation, and contribute to the wider adoption of Cardano.
Our success will be gauged by tangible metrics such as the total value locked in the protocol, number of active daily, weekly, and monthly users, diversity of tokens included in the funds, and the number of third-party integrations using our API. We're confident that the introduction of MAYZ will help enrich Cardano's ecosystem with a novel use case and facilitate a more connected experience across its landscape.
How do you intend to measure the success of your project?
The success of the MAYZ protocol will be gauged through a combination of quantitative and qualitative metrics that reflect both short-term outcomes and long-term impacts.
In the short term*, we'll track tangible metrics such as:*
- Total Value Locked (TVL): As a DeFi project, TVL is a crucial measure of the capital efficiency, and the trust users place in our protocol.
- User Base: We'll monitor the growth in the number of users actively investing and managing portfolios through MAYZ.
- Diversity of Tokens in Funds: A measure of the variety of Cardano native tokens included in our index funds, indicating the level of ecosystem coverage.
- A number of Third-Party Integrations: This assesses the usage and relevance of our open REST API.
We believe these measures are realistic as they align with our product's nature and the DeFi usage trends. We're offering a needed solution within the Cardano ecosystem, which we anticipate will be rapidly adopted by a growing audience.
In the long term*, we aim to enhance Cardano's DeFi ecosystem and bring a wider adoption. To measure this, we'll focus on:*
- Market Position: Success would be marked by MAYZ becoming a go-to platform for diversified investment in Cardano native tokens.
- Community Engagement: We'll monitor user feedback and engage with the community to improve and evolve the protocol.
- Influence on Cardano Ecosystem: We'll examine the impact of our protocol on Cardano's DeFi landscape.
The innovation brought by the MAYZ Protocol is designed to stimulate Cardano's growth by attracting more users to the ecosystem and enhancing the user experience. By offering a reliable and accessible investment solution, we expect to drive increased usage and transaction volumes on Cardano, contributing to its productivity and growth.
Qualitative feedback from our users will also be important to ensure we are meeting the needs of the Cardano community and providing a valued service. We plan to continuously iterate and improve our offering based on the input from our user base, ensuring that the MAYZ protocol remains relevant and valuable in the long term.
Please describe your plans to share the outputs and results of your project?
We have a comprehensive plan to share the outputs and results of the MAYZ project with our community, the Cardano ecosystem, and the wider blockchain industry.
- Updates: As grateful recipients of funding, we plan to provide regular updates on the progress of the project through all designated channels. These updates will include technical development milestones, user growth metrics, partnerships, and integrations, as well as any challenges encountered and the measures taken to address them.
- MAYZ Community and Token Holders: Our early supporters are crucial to the success of the project. We will maintain active communication with them through our community channels, such as Discord, Telegram, and Twitter. Regular updates, Q&A sessions, and interactive discussions will be conducted to keep them informed and involved in the project's progress. As our project develops, we anticipate our community will grow, and we will continually engage with them in transparent and meaningful ways.
- Online Events and Presentations: We plan to host regular live events, such as AMAs (Ask Me Anything), technical deep dives, and feature demonstrations. These events will be conducted on platforms such as Twitter Spaces or YouTube Live. They will not only serve to update the community but also provide educational content on the functionalities and advantages of the MAYZ protocol.
- Integration Partners: We will maintain close communication with the platforms and services integrating with the MAYZ protocol, ensuring they are well informed of any updates, new features, or potential issues.
In terms of using the results generated from the project, we will apply these insights to continually refine and improve the MAYZ protocol. Data on user behavior, transaction patterns, and fund performance will help guide our development efforts and strategy. We aim to create a protocol that truly meets the needs of the Cardano community and to do that, we will rely heavily on the results and feedback generated from our project.