Please describe your proposed solution

Our proposed solution is an AI insight assistant designed to revolutionize the way various stakeholders engage with the Cardano blockchain by providing advanced data and trend analysis and up to real-time interpretation capabilities. This tool is aimed at benefiting a wide range of interest groups within the Cardano ecosystem, including traders, investors, researchers, ADA holders, and stake pool operators. By offering clear, actionable insights derived from complex blockchain data based on tailored demands of the requestee, these stakeholders can make more informed decisions, enhancing their strategic planning, onchain activity and thus investment outcomes.

The end solution will serve as a comprehensive analytics platform that simplifies a very large array of data and type of data associated with blockchain and provides a queryable interface where users can ask specific questions and receive detailed answers. This capability will dramatically increase the accessibility and utility of blockchain data in general, fostering a wider, more robust and engaged community, while potentially providing an edge differentiator compared to other chains.

Goal of the Concept Phase: The primary goal of the concept is to explore the feasibility of using AI to analyze the broadness of blockchain data effectively. To achieve this, we will:

• Develop an Input Stream: Construct a simulated data stream that mimics real-time Cardano blockchain data, ensuring our AI assistant can operate under realistic conditions.
• Build an AI Assistant: Create an AI system that can interpret this data, answer queries, and provide summaries and analyses that are meaningful to the users.
• Optimize Data Format for AI: Determine the most effective data structures and formats for AI processing to ensure optimal performance and accuracy.
• Test Scalability: Explore how the system performs as the data volume scales up, ensuring the solution is viable for real-world application across the Cardano network.

This project will demonstrate the practical application of AI in interpreting blockchain data and also set the stage for future innovations and even new projects and platforms changing how data-driven decisions are made within the Cardano community. By proving the concept's viability, we aim to pave the way for the full-scale development of an AI tool that could transform data interaction across the blockchain landscape, making Cardano a more attractive platform for both technical and non-technical users.

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

Our project will significantly enhance the analytical capabilities available to the average Cardano community member by introducing an AI assistant designed to provide deep insights into blockchain activities to find the answers on the users query outcomes such as trend identifications and token or protocol peer comparisons will be possible in nearly real-time. This tool will facilitate better investment decisions, more effective trading strategies, and enhanced research opportunities, ultimately contributing to a more robust and efficient market within the Cardano ecosystem while as well laying bare the areas of blockchain and market that need improvement or have servicing gaps thus helping to define the scope for future protocol/tools/projects.

• Traders and Investors: By providing real-time analytics and predictive insights on market trends and behaviors, our AI assistant will empower traders and investors to make more informed decisions, potentially increasing their returns and reducing risks.
• Researchers: Academics and blockchain researchers will benefit from the ability to query complex blockchain datasets easily, fostering new studies and insights into Cardano's operational dynamics and economic impact.
• Developers and Technical Users: The AI assistant will serve as a tool for developers working within the Cardano ecosystem, offering them a way to test hypotheses, smart contract interactions, and optimize blockchain operations without deep diving into raw blockchain data manually, potentially identifying areas of infrastructural or project level needed improvements,
• ADA Holders and Stake Pool Operators: Improved market analytics and blockchain transparency provided by the AI tool can enhance the overall health and efficiency of the Cardano network, indirectly benefiting all stakeholders, particularly ADA holders and stake pool operators by fostering a more stable and predictable blockchain environment. And in a best-case scenario even dramatically increase the inflow of new users and broad user adoption.
• Broader Cardano Community: As a whole, the community will benefit from increased accessibility to complex data and insights, making the blockchain more transparent and understandable for non-technical users and their various queries. This increased transparency and understanding could lead to higher participation rates in governance and more active involvement in the Cardano ecosystem while also increasing the ease of use to onboard new community members without a strong tech background.

This proof of concept phase aims to demonstrate the feasibility and potential benefits of integrating AI-driven analytics into the Cardano ecosystem, setting the stage for a broader roll-out that could transform how all stakeholders interact with blockchain data. By aligning our goals with the diverse needs of these stakeholders, we ensure that the development of this tool is directly relevant and beneficial, providing a solid foundation for future expansion and full-scale implementation.

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?

As WingRiders, we have a track-proven record of developing within the Cardano ecosystem. Over the years we’ve shown to be at the forefront of technological advancements when it comes to DEXes and Cardano in general. We were the first ones to bring support for Stableswaps, have a fully on-chain DAO governance, and recently launched the first trustless non-custodial launchpad. Created a lot of open source tooling and continues to push the edge of what is possible with the Cardano chain evolving. Regarding fund management, we adhere to rigorous protocols ensuring robust financial stewardship and accountability. Our practices encompass the maintenance of transparent financial records, periodic internal audits, and strict compliance with financial reporting standards. We understand the imperative nature of prudent fund management and commit to upholding the highest standards of fiscal responsibility throughout the project's lifecycle.

As an evidence, we have 2 Catalyst proposals from F10 and F11 in progress. Both are being delivered according to the milestone schedule and budget , with Proof of Achievement submitted and approved for all completed milestones.

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

Milestone 1: Development of Input Stream

• Description: Design and implement a simulated input stream that accurately mimics real-time Cardano blockchain data. This stream will feed into the AI assistant to enable realistic scenario testing.
• Expected Timeline: 4 weeks
• Outputs: A fully functional input stream that can replicate the dynamics of Cardano blockchain transactions and interactions.
• Acceptance Criteria: Successful demonstration of the input stream with consistent data delivery and verification of its accuracy and reliability through test cases.

Milestone 2: Development of AI Connectivity Tool

• Description: Create an AI connectivity tool that facilitates communication between the input stream and existing large language models (LLMs). This tool will allow the AI to interpret the blockchain data and respond to queries effectively.
• Expected Timeline: 6 weeks
• Outputs: An AI connectivity tool that seamlessly integrates the input stream with LLMs, enabling the AI to receive, process, and analyze blockchain data.
• Acceptance Criteria: The tool must successfully connect to LLMs, handle queries, and return accurate, relevant responses during test scenarios

Milestone 3: Optimization and Exploration Phase

• Description: Focus on refining the AI's performance by optimizing data formats and exploring scalability. Perform comprehensive testing of various queries and data types to evaluate the AI's accuracy and understanding of the Cardano blockchain data stream. This will identify any current limitations and areas for improvement in data interpretation and query response.
• Expected Timeline: 8 weeks
• Outputs: A series of performance enhancements to the AI tool, documented scalability tests, evaluation of the AI's response accuracy, and understanding of different data types and query complexities within the Cardano blockchain.
• Acceptance Criteria: Documented improvements in AI response times and accuracy, successful scalability testing with increased data loads, and a conceptual framework for integration.

Final Milestone: Project Completion Report and Video

• Description: Compile a comprehensive project report detailing the development process, findings, and potential for future expansion. Produce a video that summarizes the project's goals, methodology, results, and potential impact on the Cardano ecosystem.
• Expected Timeline: 2 weeks
• Outputs: A detailed project completion report and an informative video presentation.
• Acceptance Criteria: Approval of the final report and video by the grant committee, demonstrating clear communication of the project's achievements and future prospects.

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

WingRiders engineering team is composed of experienced professionals in blockchain technology and software development. Our team members stand behind projects like Adalite, Yoroi wallet, Emurgo’s first blockchain explorer/indexer, firmware for hardware wallets Trezor and Ledger (bringing them to Cardano), and a whole plethora of FinTech products.

Please provide a cost breakdown of the proposed work and resources

Milestone 1: Development of Input Stream

• Milestone Budget: ₳ 30,000
• Resource MDs:
• Software engineer (senior & junior): 21
• Project manager: 1.5

Milestone 2: Development of AI Connectivity Tool

• Milestone Budget: ₳ 43,000
• Resource MDs:
• Software engineer (senior & junior): 29
• Project manager: 2

Milestone 3: Optimization and Exploration Phase

• Milestone Budget: ₳ 20,000
• Resource MDs:
• Software engineer (senior & junior): 14
• Project manager: 3

Final Milestone: 20

• Milestone Budget: ₳ 7,000
• Resource MDs:
• Software engineer: 3
• Marketing: 2
• Project manager: 0,5

No dependencies

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

The funding of this AI assistant project from the Cardano treasury represents a strategic investment into one of the most promising and rapidly evolving areas of technology. AI is a leading frontier in tech innovation, attracting significant attention across industries. By supporting this project, Cardano positions itself at the forefront of blockchain-AI integration, which is poised to become a key differentiator in the competitive blockchain landscape.

Value Proposition for the Cardano Ecosystem:

1. Innovation and Leadership: By developing an AI assistant tailored to analyze and interpret blockchain data, Cardano can establish itself as a leader in blockchain innovation. This project aligns with Cardano's commitment to pioneering research and development in blockchain technology. The successful integration of AI with Cardano's robust, research-driven blockchain architecture could set new industry standards for data analytics in decentralized platforms.
2. Attracting New Users and Developers: AI is a major draw for both users and developers. A successful AI project on the Cardano blockchain would not only showcase the capabilities of the Cardano ecosystem but also attract a new wave of developers interested in building AI-driven applications on Cardano. This could lead to increased adoption and more innovative projects being developed on the platform.
3. Enhancing User Engagement and Market Efficiency: The AI assistant will provide traders, investors, and researchers with actionable insights, improving their decision-making process and enhancing market efficiency. This tool will help demystify complex blockchain data, making Cardano more accessible to a broader audience and potentially increasing the volume and quality of transactions on the network.
4. Community and Ecosystem Growth: By funding this project, the Cardano treasury is reinvesting in the ecosystem's growth and sustainability. The insights and improvements generated by this AI tool will benefit all stakeholders, from individual ADA holders to developers, enhancing the overall health and vibrancy of the Cardano community.
5. Long-Term Scalability and Adaptability: The AI assistant will be designed with scalability in mind, ensuring that as Cardano grows, the tool can evolve to meet the changing needs of the network. This not only secures long-term utility but also supports Cardano's vision of a scalable and sustainable blockchain solution.

In summary, this investment is not just about the immediate returns in terms of technology development but also about reinforcing Cardano’s position as a cutting-edge, adaptable, and user-friendly blockchain platform. The project promises to kickstart the domain and bring significant long-term benefits to the Cardano ecosystem, making it a wise and forward-thinking use of the Cardano treasury funds.