Please describe your proposed solution

Perception of the Problem:

Managing multiple wallets and tracking the performance of diverse crypto assets can be cumbersome and error-prone for Cardano users. With the growth of decentralized finance, investors are increasingly looking for simplified tools that provide a clear view of their investments, making financial decisions easier and more informed.

Approach to the Solution:

WALLY addresses this need by integrating all Cardano wallet activities into a single, user-friendly interface. We believe that consolidating wallet management, performance tracking (including profit and loss), and historical asset review into one platform reduces complexity and enhances the user experience. By automating the aggregation and analysis of data across multiple wallets, WALLY minimizes the time and effort required to manage and assess Cardano asset holdings.

Target Audience:

Our solution is designed for Cardano investors who manage multiple wallets and wish to monitor their overall financial health in a unified manner. This includes both casual investors looking to keep tabs on their investments and serious traders who need detailed analytics to make swift, data-driven decisions.

Demonstrating Impact:

The effectiveness of WALLY will be demonstrated through user engagement metrics, testimonials, and case studies showing how our tool simplifies crypto management and aids in making more informed investment decisions. We'll track user growth, satisfaction rates, and the frequency of use to measure our impact.

Uniqueness and Importance:

What sets WALLY apart is its focus on the Cardano ecosystem, providing tailored analytics and management tools that are specifically designed for Cardano assets. This specialization ensures that functionalities such as transaction tracking, staking rewards calculations, and performance metrics are accurately reflected, catering specifically to the needs of the Cardano community.

Beneficiaries:

Cardano users stand to benefit significantly from WALLY as they can better understand their financial landscape, optimize their holdings, and make strategic decisions based on comprehensive data. Furthermore, by enhancing the user experience and reducing the barriers to effective investment management, WALLY contributes to the broader adoption and success of the Cardano platform.

List of Light Wallets Supported On Day 1:

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

WALLY's Positive Impact:

WALLY is poised to significantly enhance the Cardano ecosystem by simplifying the management and analysis of Cardano assets.

By providing a unified platform that aggregates and interprets wallet data, WALLY will make it easier for both new and experienced users to engage with the Cardano blockchain.

This ease of use fosters greater adoption and continued investment within the Cardano community. Moreover, by offering detailed analytics and insights, WALLY empowers users to make informed decisions, which in turn can lead to more stable and strategic growth of the Cardano network.

Specifically the WALLY team is committed to adding substantial value to the Cardano community through three key features:

1. Consolidated Cardano Asset Tracking Across All Wallets: WALLY enables users to track all their Cardano assets in one streamlined interface, regardless of how many wallets they use. This consolidation helps eliminate the complexity and confusion often associated with managing multiple wallets, making it easier for users to see the complete picture of their investments in real-time.
2. Consolidated Profit & Loss Analysis Across All Wallets: By providing an integrated profit and loss analysis, WALLY helps users understand their financial performance across different wallets without the need for manual calculations or separate tools. This comprehensive view not only saves time but also aids in making informed decisions based on overall investment outcomes.
3. Consolidated Historical Holdings and Net Worth Across All Wallets: WALLY’s capability to track historical holdings and calculate net worth over time gives users valuable insights into their financial growth and asset evolution. This feature is especially important for long-term investment strategies and financial planning within the Cardano ecosystem.

Measuring Impact:

The impact of WALLY will be measured through both quantitative and qualitative methods:

• Quantitative metrics will include user adoption rates, frequency of app usage, and user retention rates. We will also track the volume of transactions processed and the number of wallets managed through WALLY to gauge its utility.
• Qualitative feedback will be gathered through user surveys, feedback forms, and community engagement on forums and social media. This feedback will help assess user satisfaction, perceived ease of use, and the effectiveness of WALLY in managing Cardano assets.

Sharing Outputs and Opportunities:

The outputs and successes of WALLY will be shared openly with the Cardano community to foster transparency and collaborative growth:

• Regular Updates and Reports: We will publish monthly reports detailing usage statistics, impact assessments, and case studies that demonstrate how WALLY is being used to manage Cardano assets effectively.
• Community Engagement: Through webinars, workshops, and participation in Cardano community events, we will engage directly with users and stakeholders. This interaction will help in gathering feedback and discussing potential improvements or new features.
• Collaborations and Partnerships: By collaborating with other Cardano-based projects and developers, we aim to integrate additional tools and features that enhance the WALLY platform and provide added value to the community.

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?

We are the team that successfully built and launched CardanoBI.

The proposed solution will be built by the same team.

CardanoBI is the first fully Open-Source Business Intelligence API Layer for Cardano and has already gathered a good user base (50+) despite the API landscape being very competitive on Cardano.

WALLY will be our first Cardano base app that will leverage CardanoBI to deliver a great end-user experience and solve a real problem faced by many Cardano investors.

We have 24+ years' experience in software development for the financial industry and will be as transparent in our project reporting as we have been for the initial CardanoBI project.

We have all skills and experience required for both Frontend and Backend development tasks to complete this project in time and within budget.

Note that Thomas has full knowledge and past experiences of building order management system for TradFI and also was lead architect for CardanoBI so is well versed in the Cardano data model.

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

Milestone 1: Milestone 1: Project Initiation and Infrastructure Setup

Objective: Establish the foundational architectural design, technology stack and operational framework for WALLY.

Acceptance Criteria:

• End-to-End Solution Architecture.
• Selection and setup of development tools and server infrastructure.
• Project Management initialization and setup.
• Completion of project plan detailing timelines for subsequent milestones.

Milestone 2: Milestone 2: Development of Core Features part 1

Objective: Develop the primary functionalities of WALLY, including wallet connector, asset tracking, profit and loss analysis, and historical holdings overview.

Acceptance Criteria:

• Successful integration of existing Cardano wallets connector through the WALLY platform.
• Successful implementation of Cardano asset market data feed using Oracles public data or existing Cardano DEX asset price APIs.
• Successful implementation of an Asset Operation Data Store (ODS) that tracks assets in real time across multiple end-user control wallets.
• Successful implementation of the profit and loss analysis feature.

Milestone 3: Milestone 3: Development of Core Features part 2

Objective: Develop the secondary functionalities of WALLY, including UI dashboards for assets tracking, profit & loss history, net worth history.

Acceptance Criteria:

• Successful implementation of the net worth analysis feature.
• Successful implementation of the asset dashboard.
• Successful implementation of the profit & loss history dashboard.
• Successful implementation of the net worth history dashboard

Milestone 4: Milestone 4: Integration Testing

Objective: Conduct thorough testing to ensure the end-to-end functionality, security, and usability of WALLY.

Acceptance Criteria:

• Execution of comprehensive unit and integration tests.
• User Acceptance Testing (UAT) with a select group of beta testers from the Cardano community.
• Identification and remediation of all critical bugs and issues.

Milestone 5: Milestone 5: Community Engagement and Feedback Integration

Objective: Engage with the Cardano community to gather feedback and refine WALLY.

Acceptance Criteria:

• Conduct a series of community engagement sessions (webinars, workshops).
• Collection and analysis of feedback from beta testing and community interaction.
• Implementation of key improvements and feature enhancements based on community input.

Final Milestone: Milestone 6: Project Close-out and Dissemination

Objective: Finalize the project and disseminate the results across the Cardano community.

Acceptance Criteria:

• Completion of all feature developments and final bug fixes.
• Preparation and release of comprehensive documentation and user guides.
• Production of a close-out report and video showcasing the features and benefits of WALLY.
• Official launch of WALLY to the public.

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

The same team that delivered CardanoBI REST API will deliver the Java SDK:

1.Lead, architect, backend/frontend dev: Thomas Langlois

<https://www.linkedin.com/in/langloisthomas>

2.Data architect, event-driven architect, backend dev: Ahmed Abouelnour

<https://www.linkedin.com/in/ahmed-abouelnour-91828b8/>

Please provide a cost breakdown of the proposed work and resources

Milestone 1: Project Initiation and Infrastructure Setup

• Project Manager @ ₳100/h for 40h = ₳4,000
• Solution Architect @ ₳75/h for 40h = ₳3,000
• Infrastructure Costs (Servers, Tools) for the first 12 months = ₳5,000
• Total for Milestone 1 = ₳12,000

Milestone 2: Development of Core Features Part 1

• Frontend Developer @ ₳75/h for 180h = ₳13,500
• Backend Developer @ ₳75/h for 180h = ₳13,500
• Total for Milestone 2 = ₳27,000

Milestone 3: Development of Core Features Part 2

• Frontend Developer @ ₳75/h for 180h = ₳13,500
• Backend Developer @ ₳75/h for 180h = ₳13,500
• Total for Milestone 3 = ₳27,000

Milestone 4: Integration Testing

• Frontend Developer @ ₳75/h for 140h = ₳10,500
• Backend Developer @ ₳75/h for 140h = ₳10,500
• Total for Milestone 4 = ₳21,000

Milestone 5: Community Engagement and Feedback Integration

• Frontend Developer @ ₳75/h for 80h = ₳6,000
• Backend Developer @ ₳75/h for 80h = ₳6,000
• Total for Milestone 5 = ₳12,000

Milestone 6: Project Close-out and Dissemination

• Project Manager @ ₳100/h for 40h = ₳4,000
• Frontend Developer @ ₳75/h for 80h = ₳6,000
• Backend Developer @ ₳75/h for 80h = ₳6,000
• Total for Milestone 6 = ₳16,000

Additional Costs Across All Milestones

• Contingency Fund (10% of Total Direct Costs) = ₳13,600

Total Project Budget

• Total Direct Costs (excluding contingency) = ₳115,000
• Contingency = ₳11,500
• Total Budget Request = ₳126,500

No dependencies.

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

Cost Justification:

• Development Personnel Costs: The hourly rates for developers, project managers, and architects are set at ₳75 for developers and ₳100 for project managers. These rates are in line with the average freelance rates for blockchain development professionals in the industry. According to market surveys and freelance platforms such as Upwork and Freelancer, blockchain developers typically command premium rates ranging from $50 to $150 per hour, depending on their expertise and the complexity of the project. The rates used in this proposal are moderate and reflect a balanced approach to securing high-quality talent while keeping costs reasonable.
• Infrastructure Costs: The initial infrastructure setup cost of ₳5,000 covers the first 12 months, which includes server hosting with high availability and redundancy built-in. This is essential for building a robust and scalable application like WALLY. The cost is based on standard pricing for cloud services.

Proportional Costs:

• The cost structure is proportional to the complexity of developing a Wallet Tracker application within the Cardano ecosystem. Given the technical challenges and the need for high reliability and security, the budget reflects the necessary investment to achieve these critical requirements.

Efficiency and Impact:

• Resource Efficiency: The project leverages a lean team structure, focusing on critical roles that drive the most value. By optimizing the development cycle and using agile methodologies, the project minimizes overhead while maximizing output.
• Community and Ecosystem Impact: WALLY is designed to significantly enhance the usability of the Cardano ecosystem by providing a tool that simplifies asset value tracking and thus user engagement.
• The investment in WALLY supports increased adoption and user retention within the Cardano ecosystem, offering long-term benefits such as higher transaction volumes and more robust community engagement.

Long-Term Value:

• The project's outcomes will provide enduring tools that improve financial management and decision-making for Cardano users. The infrastructure and software developments from this project will serve the community for many years, amplifying the return on investment over time.

In summary, the budget for WALLY represents a strategic allocation of funds that supports the development of a key component currently missing in the overall Cardano ecosystem.

The rates are justified based on industry standards, and the expenditure is aligned with the project's potential to drive significant value and improvements in the ecosystem’s functionality and user experience.