Please describe your proposed solution.
It's time for Cardano dApps and projects to be able to tap into the 300 million crypto users worldwide with a Plug-and-Play Open-Source and a Cross-Chain payment processing that supports over 100 crypto wallets.
The crypto ecosystem is fragmented. Most dApp across chains developers had a hard time reaching mobile users. Users experienced friction every time they wanted to connect to a dApp or sign transactions using both mobile and browser wallets.
WalletConnect is a generalized protocol to facilitate a secure connection between any wallet and any dApp. Under the hood, the protocol facilitates end-to-end encrypted communication between two clients.
With their wallets, users can either scan a QR code on the browser or connect on mobile through deep-linking. WalletConnect generates a key pairing and creates a session between the wallet and the dApp.
Thanks to WalletConnect, users can interact with any dApp using their favorite wallets. Developers can focus on building the best products — whether it be dApps or wallets — without worrying about how one will communicate with the other.
WalletConnect has been and will be an increasingly crucial piece of infrastructure driving Web3 consumer adoption with over 100 wallets for more than 200 dApps today. The 5 most popular crypto wallets on Android and iOS devices alone (Trust, Metamask, Crypto.com, imToken, and bitpay) all integrate WalletConnect and cumulatively have over 55 million monthly active wallets. However, WalletConnet doesn't support or have any Cardano and ₳DA integration.
We are building the Play-and-Play Open-Source integration between MetaMask and Cardano using WalletConnect, Ethereum to Milkomedia bridge with Nomad, Charli3, and a DEX like Blueshift. This Plug-and-Play Open-Source integration will enable wallet, transaction, and payment integration for Cardano dApps from the 100+ crypto wallets especially MetaMask and its 55 million monthly active users via the WalletConnet ecosystem.
We strongly believe in Open-Source work that's been funded by the community to go back to benefit the community.
Please describe how your proposed solution will address the Challenge that you have submitted it in.
We are clearly addressing the challenge directly:
How can we create a positive developer experience that helps the developer focus on building successful apps? How do we attract developers from outside of our current community to participate in Catalyst? What do developers want, and how do they get it from the Cardano dev ecosystem? What do developers want, and how do they get it from the Cardano dev ecosystem? Cardano wants to attract high-caliber Developers and developers have ample resources to work on platforms that suit their interests.
This proposal directly increases the likelihood that any developer, builder, or dApp building on Cardano has a higher likelihood of success because of an immediate bigger potential user base without the need to onboard to a Cardano wallet first. Thanks to a painless Plug-and-Play integration only using a couple of lines of code in Javascript, iOS/Swift, or Android/Kotlin via WalletConnect developers in and out of Cardano are incentivized to use this tooling to access a broader user base across chains.
Developers want and need programmatic access to the adoption of their projects, dApps, and adoption comes easier when you unlock access to 100x more wallets and 15x more monthly active wallets with a couple of lines of code. This is what creating an awesome developer experience and true incentive means.
Cardano ecosystem would be able to attract a higher caliber of developers and teams by the newfound ability of projects to move to Cardano without losing many users and enjoy the benefits of lower Cardano transaction fees as compared to many EVM-based chains. Of course, when we integrate CIP30 Cardano Wallets to WalletConnect we also enable Cardano wallet holders to interact with the 200+ dApps in the WalletConnect ecosystem increasing the overall utility of Cardano wallets everywhere without much fuss.
Many projects are stuck on EVM-based blockchains like Ethereum and are looking for an escape. Cardano can be faster and cheaper to use. How might we make it easy and fast for dApps and other projects to expand or completely move from Ethereum to Cardano?
We make it easy for dApps and other projects to expand or completely move from Ethereum to Cardano by enabling them to keep 100% of their userbase. We removed this huge barrier to migrating to Cardano seamlessly even to a point that the userbase doesn't have to know anything has changed.
Projects who were either planning to or did launch on an EVM-based blockchain can now deploy in the Cardano ecosystem and can do so easily without the fear of losing interoperability with ETH-based wallets and users.
WalletConnect can be integrated with just a few lines of code. SDKs are available for Javascript, iOS/Swift, and Android/Kotlin. See documentation.
What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
The main risks to successfully delivering this project and our risk mitigation strategies are clear and sufficient:
Risk:
- Unforeseen technical blockers on Charli3 Oracle side.
Solution:
- Established technical partnership with Charli3 dev and leadership team.
Risk:
- Unforeseen technical blockers on WalletConnet side.
Solution:
- Established technical partnership with WalletConnect dev team.
Risk:
- Unforeseen technical blockers on Milkomedia side.
Solution:
- Established technical partnership with dcSpark and Milkomedia dev team.
Risk:
- Unforeseen technical blockers on Plutus side.
Solution:
- Pursuing technical partnership with EMURGO, MLabs, Gimbalabs, and other Plutus dev teams.
Risk:
- Tight deadline.
Solution:
- Built-in one-month buffer to deploy the final product in January 2023.
- Hire more experienced devs via Snapbrillia dev bounties, quickly and efficiently as always.