Please describe your proposed solution.

Val U Swap creates tokenized asset swaps that represent real world products with integrated escrow contracts and user token verification. The Benefits are:

• Easily tokenize any physical product for sale
• Escrow contracts for real world shipping or settlement
• Vendor reputation linked directly to actual sales
• Fast, secure and reliable trade executions

The marketplace will use the Atomic Swap Open Protocol for the smart contract trade execution and settlement.

Val U Swap Concept Video:

<https://youtu.be/uVY5fRDX2fw>Atomic Swap Open Protocol Light Paper: <https://github.com/lley154/atomic-swap-open-protocol/blob/main/docs/Atomic-Swap-Open-Protocol-1.0.pdf>

Atomic Swap Open Protocol Code: <https://github.com/lley154/atomic-swap-open-protocol/tree/main>

Atomic Swap Open Protocol Demo Video:

<https://www.youtube.com/watch?v=qy1gFzZeE3o>

How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Val U Swap will use the Atomic Swap Open Protocol that defines how an atomic swap can be used in a fully decentralized, scalable and secure manner. The protocol also has additional features such as escrow contracts for settlement and user tokens for fraud prevention and regulatory compliance if required. Finally, each swap can be denominated in any native Cardano asset including Ada.

Benefts of an atomic swap:

• Retain self custody (including staking capability) while the asset is being offered for sale
• You can update or close the swap at any time without any restrictions
• No impermanent loss because you are not providing liquidity to a pool
• Highly secure because you and only you have the keys to update or close the swap position
• Fast finality because there are no other dependencies for the execution of the swap
• No batchers are used which eliminates front-running transaction risk
• Fees are known in advance and no fees are typically charged if the transaction fails

How do you intend to measure the success of your project?

The success of the project will be measured by community engagement and interest by the community in creating independent marketplaces using the Atomic Swap Open Protocol.

Please describe your plans to share the outputs and results of your project?

Val U Swap mobile web application:

• Demo (YouTube)
• Fully Open Source Code (GitHub)
• Fully Automated Testsuite (Vitest)
• Documentation (GitHub)

Community Engagment & Communication Tools:

• GitHub
• Youtube
• Discord (weekly updates)

See milestones below for timeline and output details.

What is your capability to deliver your project with high levels of trust and accountability?

Lawrence Ley, B.Sc.

• 20+ Years of eCommerce IT application development experience .
• 2 Years of plutus smart contract development
• Plutus pioneer 2nd Cohort
• Computer Science Degree from University of Toronto

Previous Cardano Open Source Projects

• [Testnet] <https://github.com/lley154/atomic-swap-open-protocol>
• [Mainnet] <https://github.com/OpenLitterMap/openlittermap-web/tree/master/littercoin>
• [Mainnet] <https://github.com/Earthtrust/traceability-smart-contract>
• [Testnet] <https://github.com/lley154/cardano-lottery>

Dylan Kreis, BA, BEng (Hons)

• 20+ Year's experience in Information System project management,
• Design and implementation.
• Bachelor of Information Systems
• Chemical Engineer
• Implementer of real world changes via the blockchain

What are the main goals for the project and how will you validate if your approach is feasible?

The goal of Val U Swap and the Atomic Swap Open Protocol is to lay a foundation for real world DeFi use cases leveraging blockchain technology. Val U Swap will initially focus on a niche market such as Algae products to demonstrate real world feasibility. Since the Atomic Swap Open Protocol can be used to buy and sell any Cardano native asset, the potential for different value trading use cases is unlimited.

Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestones:

1. Mockups & Design [4 weeks] [₳ 44K]
2. Build [8 weeks] [₳ 96K]
3. Integration & User Acceptance Testing [4 weeks] [₳ 44K]
4. MVP Launch and support on Testnet [2 weeks] [₳ 15K]

Total Duration = 3.5 Months

Total Cost = ₳ 199K

Please describe the deliverables, outputs and intended outcomes of each milestone.

Mockups & Design

• Mockups
• Figma interactive prototype
• Flow diagrams
• Sequence diagrams
• ER (entity relationship) diagram

Build

• API swagger specs
• Dev & Test environment docker containers
• Functional APIs
• Mobile web application

Integration & User Acceptance Testing

• Postman API tests with screen shots
• Dev Demo
• User acceptance testing with screenshots
• Screenshots of preprod explorer of transactions
• Automated testing
• Documentation

MVP Launch and support on Testnet

• URL of web app running on preprod testnet
• Demo video using preprod testnet

Please provide a detailed budget breakdown of the proposed work and resources.

Overall Project Phases

Phase 1 - Atomic Swap Open Protocol ($20K USD)

Phase 2 - MVP on Testnet ($60K USD)

Phase 3 - Beta and Market Launch ($296K USD)

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

Lawrence Ley, B.Sc. - Architect & Developer

• 20+ Years of eCommerce IT application development experience .
• 2 Years of plutus smart contract development
• Plutus pioneer 2nd Cohort
• Computer Science Degree from University of Toronto
• Twitter: https://twitter.com/lley154
• LinkedIn: <https://www.linkedin.com/in/lawrenceley/>
• Youtube:

<https://www.youtube.com/channel/UC5R8HrDUms8XqZVWszqbA7A>Dylan Kreis, BA, BEng (Hons) - Product Owner & Tester

• 20+ Year's experience in Information System project management,
• Design and implementation.
• Bachelor of Information Systems
• Chemical Engineer
• Implementer of real world changes via the blockchain

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

• Provides open source innovation to existing DeFi problems, particularly around centralization
• Advances research and development leveraging the power of the UTXO architecture
• Industry hourly rates for experienced resources in developed countries