Please describe your proposed solution

Bootstrapping Staking Contracts allow projects to reward TVL and staking of tokens over a fixed period. Projects are able to provide a target amount of tokens staked and provide a limit of rewards to be distributed.

Rewards will be depleted organically as new stakes move the post closer to the goal.

Users create a Stake UTxO that records details like the staked amount, calculated rewards, and staking timestamp. Rewards can be claimed periodically throughout the staking duration.

The smart contracts state a limit of total rewards (K) of tokens, and staking remains active until a target amount of tokens staked (valued in ADA) is reached (J).

The rewards a user receives are based on the value of their deposit (amountToStake), measured in ADA, relative to the total amount deposited in ADA since the contract's launch (totalDeposited). The value of the tokens staked in the Stake UTxO is determined in ADA at the moment the staking action is performed. The formula for calculating rewards is:

Rewards can be claimed peridocally every "P" seconds, with each claim allowing:

where D is the total staking duration, during which withdrawals of the staked tokens are not allowed.

Parameters like total rewards (K), staking target (J), staking duration (D), and reward claiming period (P) are set in the contract, with the total deposited amount provided by theproject during each stake transaction.

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

Bootstrap Liquidity: By providing open-source smart contracts for staking CNTs and NFTs, we enable projects to easily bootstrap liquidity.

Decentralization and Control: By utilizing open-source solutions, we promote transparency and decentralization.

Community Engagement: Staking encourages users to actively participate in the ecosystem by holding and using their CNTs and NFTs fostering community building.

Economic Growth: As projects gain liquidity and users are incentivized to stake their assets, the overall economic activity within the Cardano ecosystem will increase.

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?

Metera Protocol has been in the ecosystem for the past couple of years. We have conducted an ISPO with over 34M ADA staked and are currently in testnet thanks to our funded Catalyst 11 proposal.

Our main dev team is TxPipe Shops which is a reputable development company in the ecosystem.

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

Milestone 1: Design and Requirements

Outputs: Design document and requirements document.

Milestone 2: Off-chain and On-chain Implementation

On-chain Implementation

Outputs: Stake transaction, Claim transactions, Checking that the redeemer was signed by the admin.

Milestone 3: Testing with Lucid emulator traces

Outputs: Lucid emulator traces for different use cases/ scenarios, intagrated with Githbuh Cl.

Milestone 4: Open Source documentation

Outputs: Full documentation on how to compilate the smart contracts

Final Milestone: Final Report

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

Daniel Sampson: https://www.linkedin.com/in/daniel-sampson-26966a225/

CEO and CoFounder of Metera

Entrepreneur and innovator in the web3 ecosystem with a strong background in traditional asset management.

Experience in marketing, project management and investor relations. Full Stack developer in progress.

Carlos Ernesto: https://www.linkedin.com/in/ernesto-sampson/

COO and Founding Team Member of Metera Protocol. Business manager and strategist. With experience in the creation, development and administration of projects. Experience in planning, management, and daily operation of Fintech and Crypto projects.

Deep interest in new technologies and passionate about making things happen.

Mahadi Abuhuraira: https://www.linkedin.com/in/mamt4real

Before joining Metera, my career focused on Web2 projects, particularly building web applications using technologies like React, Express, MongoDB, and Firebase. I enjoyed full-stack development and solving traditional web development challenges. My first foray into Web3 began when I joined Metera Protocol. I was intrigued by how blockchain could revolutionize finance by offering greater transparency, security, and user control.

Lawal Musa: https://www.linkedin.com/in/musalawal04/

As a Computer Scientist, I have a background in both content creation and project management, specializing in producing high-quality, engaging content tailored to both technical and non-technical audiences. My experience includes coordinating between stakeholders, such as developers, designers, and product owners, to align project goals with business objectives.?

TxPipe Shops:

Has provided a third party development T&M team to Metera Protocol for the past year. In case of receiving funding through this proposal we will continue working alongside TxPipe Shops as our main development partner. Which includes developers like Manu Gunther and Nicolas Ludueña.

Please provide a cost breakdown of the proposed work and resources

Milestone 1: Design and Requirements (0.5 months)

Resources:

• Full Time Full Stack Developer - 15,000ADA

Total: 15,000 ADA

Milestone 2: Off-chain and on-chain Implementation (1 month)

Resources:

• Full Time Full Stack Developer - 30,000 ADA

Total: 30,000 ADA

Milestone 3: Testing (0.5 month)

Resources:

• Full Time Full Stack - 15,000 ADA

Total: 15,000 ADA

Milestone 4: Open Source Documentation (0.25 months)

Resources:

• Full Time Full Stack - 7,500 ADA

Total: 7,500 ADA

Final Milestone: Documentation and Final report (0.25 months)

Resources:

• Project Management (2 weeks) - 2500 ADA

Total: 12,500 ADA

Project Total before adjustment: 80,000 ADA

ADA ADJUSTED FOR FLUCTUATION AND EXTRA EXPENSES: (126,500 x 1.15) = 92000 ADA

No dependencies

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

Funding this project will help accelerate the inclusion of robust financial instruments needed for the broader adoption of the Cardano ecosystem in the rapidly growing DeFi ecosystem.