Please describe your proposed solution.
Facts
- The majority of people who love and participate in the Cardano ecosystem are ADA holders. And the ADA holding vision is 10-20 years.
- Currently, the crypto market is entering a downtrend phase. People tend to hold ADA firmly to wait but many investors will also leave.
- There are many ways for an investor to participate in the crypto market to increase the number of coins he holds such as using money to buy coins, trading based on exchange rate differences.
- However, financial trading in volatile markets like crypto is always considered a high-risk action and not every investor is financially savvy or has enough time. to participate in the 24/7 trading market like crypto.
- Currently, there are many financial management applications that help investors to automatically trade, but most of them have many potential risks in terms of safety and security. Two major types of applications can be mentioned as bot trading (copy trade) and Yeild farming (dapps).
- Many people staking ADA for passive income but still want the opportunity to increase their assets when the market fluctuates. However, withdrawing from the wallet to the exchange, from the exchange placing buy-sell orders, calculate the amount to sell, calculate the snapshot time to withdraw to the wallet to optimize staking.
Challenge
From the above factors, the following challenges can be seen:
- Maximizing the efficiency of using ADA can help investors increase ADA or USD
- Attract and retain ADA investors when the market is in a downtrend period
- 1 financial transaction management and transaction application to ensure the safety and initiative for users.
- 1 team of product development have enough trust from the community or investors.
Here is our detail solution
V2target or we call it the DUAL-TARGET action for ADA HOLDER is a financial application researched and developed by 2 groups:
- Research on "Dual target" solution: clip https://www.youtube.com/watch?v=xC4XiVL0Rkg
- Technical building and development (apps): Vknight.io team (Vknight.io website or github: https://github.com/vknighthub)
V2target is an application that will automatically and simply withdraw from the exchange to the wallet, from the exchange to the exchange, execute trading orders on the exchange, calculate the ADA balance, and withdraw according to the snapshot time. to ensure optimal stasking… all done automatically even when the ADA holder is asleep.
However, to deploy into a product for many people, it is necessary to have more technical solutions, financial operations, plans to deploy the product to the community…
Solution for technical and financial:
a. V2target 1.0 application has the following functions:
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Automatically withdraw and send from wallet to exchange and vice versa
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Automatically calculate when the snapshot is transferred to the wallet to optimize staking
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Always ensure ada staking number to ensure income
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Only staking ADA on SPO system
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If selling: excess ADA to generate cash flow
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If buying: buy back the amount of ada previously sold and keep the money
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If the ADA price drops more than that set parameter, it will continue to buy down to ensure that the total amount of ada staking generates the correct expected monthly income, if the amount is small the amount needed to buy the amount of ada staking of the reduction. Next price, please notify to top up
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Solution for security and safety: V2target 1.0 only develops version for PC or Laptop using Windows operating system. Security level if to run 24/7: 2 layers of security, if running directly on a clean machine (copyrighted window) and only used for running V2Target, 99.9% is guaranteed
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The next versions in phase 3 of the project will develop applications on mobile, cloud or web.
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System requirement to run the app: core icore i5- 7th generation or higher, minimum 16Gb Ram (24Gb recommended), Hard drive 200Gb (currently Database 110 Gb)
Details of V2target 1.0 can be checked on github https://github.com/vknighthub, attached manual file, demo clip
b. Financial and product distribution solutions to the community (phase 2)
- As mentioned above, there are many financial and asset management applications similar to V2target, but most of them fail because of lack of trust and security risks.
- The idea of “Dual target for ADA holders” has been researched by a team of Cardano-savvy people and the solution has been known around for a long time in our Cardano community (the community can test it with a demo version of the product) And now we are still constantly researching more about financial solutions to apply to V2target.
- Many similar projects have failed because the implementation team does not have enough trust with users and the community. Therefore, in phase 2 of V2target, we will cooperate with reputable community groups and funders to promote the product to the community. Specifically, the first two groups will be Vcoincheck.io team and Fimi team.
The impact
- This product will provide the community with an effective financial tool in optimizing capital.
- Applications with functions that can be installed automatically help users to use without having to manipulate directly.
- Users outside the Cardano ecosystem will better understand the advantages of the ADA staking mechanism. And from there will be deeply involved in the ecosystem.
- In the long term, V2target will develop the next versions with integrated wallets, transactions connected to Dapps, swapping process via smart contract.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
This Proposal has the following characteristics suitable for this challenge
- Business solutions - Software products
- Creation or improvement of different products that provide value to the Cardano community and wider ecosystem.
Benefit for ecosystem
- V2target will be a financial application that can help the community of ADA holders to optimize the efficiency of their ADA safely, automatically, without spending much time to closely monitor price fluctuations. market.
- Keeping ADA holders will also help attract new investors to have more faith in Cardano and increase Cardano's reputation with many people because the "Dual target" solution is only suitable and most effective for ADA. and Cardano's staking mechanism.
- In the future, V2target will develop into Dapps with more advanced financial solutions, creating excitement in the Cardano ecosystem, increasing the ADA transaction volume in the ecosystem while ensuring the safety of users. use
How do you intend to measure the success of your project?
Number of MVP product:
This parameter measures the output of the product
Number of people who use the product:
This parameter measures the user's attraction to the product
Number of people who know the product:
This parameter measures the spread of the product as well as the uniqueness of Cardano's staking mechanism
Please describe your plans to share the outputs and results of your project?
Product source code: github https://github.com/vknighthub
Google share document: Instruction manual, project report.
Number of customer: product license key distributed
Our partner website and community: https://vcoincheck.io and https://www.facebook.com/groups/cardanoviet