Please describe your proposed solution.

How we perceived the problem

As the ecosystem continues to grow, the numerous protocols appear gradually presenting several challenges.

1. New protocols need mass adoption by people in the ecosystem. Nevertheless, it's not always easy to encourage people to learn and analyze new protocols until they realize the benefits.

2. Data is fragmented from protocols as there is no central point to compare the rewards and performance of different protocols. As a result, it's painful for those who want to collect and analyze protocol data manually

Therefore, we would like to make an analytics tool that visualizes the actual benefits, and performance of protocols based on historical on-chain data as well as reveals potential risks that enable everyone to access.

The solution must correctly provide the following analytics

1. The overall performance of protocols supporting farming & lending

The first step is to evaluate the overall performance of the protocols in the ecosystem is measuring liquidity, total amount locked, daily volume, weekly volume, daily active users and so on. These key numbers give a first impression of the degree of acceptance of the protocol in practice.

2. Rewards and benefits comparison across protocols

After understanding the overall performance of protocols and clarifying the current adoption status, users should be able to compare the APR, rewards, and risks between protocols to find the optimal strategy.

3. Liquidity flow across protocols, how participants are doing around protocols

Additionally, users need to understand how liquidity flows between protocols in order to respond as quickly as possible. The tool should provide real-time visualization of liquidity flows to understand what is happening around the protocol by tracking participants' interactions with the protocol.

Our reasons for approaching it in the way that we have

Based on our experience in data analysis using different types of data platforms. If we can explore the data properly, we will see how important it is. A good analysis will not only increase the protocol's adoption but also reveal potential/hidden risks.

Unlike Taptools, we not only provide valuable insights into trading markets and DEXs but also provide different types of more detailed protocol-level analysis that can be performed to generate actionable insights for users.

We could see many different analytics tool in the Ethereum ecosystem has been very successful and provides valuable insights focused not only on the overall market but also on diving deep into the protocol level. Like Debank, Nansen, etc.

Who our project will engage

This tool will be available to everyone so that the broader community can easily reveal the real performance of the protocol, compare them, and diversify their strategies.

How we will demonstrate or prove our impact

The following two points illustrate our impact.

1. Impact on protocols

To measure impacts on protocols, we will monitor pageview and click events of users on our website to know which parts are most interested in. Additionally, while collecting data from protocols we also make dashboards to monitor their performance. So If people use our analysis frequently and the performance of protocols increases, there will definitely be a connection between them.

2. Impact on users

If people use our analysis and move their strategies from trading to farming or lending or to explore further features of existing protocols. They not only get more profits but also gain knowledge of the protocols then our influence is proven as well.

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

Value to the Cardano Community

From the beginning, this project was designed to provide significant value to the entire Cardano community. We will serve as the data department for protocols within the ecosystem, providing actionable insights to users.

By using analyzed data and data visualization, users not only learn more about what is happening around their ecosystem but the protocols team can track their product performance as well.

Additionally, rewards and protocol performance are visualized in an easy-to-understand way, increasing people's engagement in exploring the protocol, which in turn increases protocol adoption.

Measurement of Impact:

By monitoring pre-defined key metrics including website activity such as daily active users and weekly active users, as well as liquidity provisioning, lending volume, and protocol interactions in real-time, we could track how the project delivers new experiences to users.

Sharing Outputs and Opportunities:

All project results will be published on the website and can be easily accessed and used by anyone on a daily basis. To broaden our results, we will also share them through our partner projects' Twitter and Discord.

In addition, we will publish a technical article bi-weekly after the release of version 1, which provides a detailed explanation of the analysis process, including the data collection and analysis process so that anyone can easily understand the data pipeline and analysis results.

With this result, users can discover more ways to make profits with the protocol and gain more knowledge about the ecosystem. Developers who are interested in analyzing On chain's data could learn more, and re-use system design and analytics processes too.

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?

Our team is made up of highly qualified and talented people with diverse backgrounds in mathematics, software development, and data analysis, demonstrating our skills. Especially, in the data domain, we excel in working with data warehouse solutions, that is, aggregating and analyzing petabytes of raw data to provide advanced analysis.

We joined the Cardano space in 2021 and have completed several Cardano courses including Plutus Pioneer Program 3rd, 4th and Cardano Blockchain Alpha Program combined with past experience working on Ethereum and EVM chains.

For better demonstration, we completed our first MVP in her DEV environment where users can manage their Assets, NFTs, delegation performance, and transaction history as well as center data from 10 protocols including Minswap, Sundaeswap, Wingriders, Spectrum, Muesliswap, TeddySwap, Levvy, Lenfi, CherryLend, and Indigo fully with their data presented below. Maintaining this consistent pace over the past two months will ensure we can over-deliver the project in the future.

I. Market View

Overview

Trading Realtime

Money flow

II. Farming view

Overview

Deposit & withdrawal realtime

Liquidity flow

III. Lending view:

Overview & Loan History

P2P Requests

Lending Pool

IV.DexHunter swap

V.Portfolio

Asset

Sample Loan & Debt positions

NFT

NFT Detail

Delegation Performance

Transaction History

VI. Protocol Explorer

Indigo Explorer

Indigo Liquidation history

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

This milestone will focus on building a solid codebase and infrastructure that will be ready for production deployment and enable easy integration with diversity protocols.

Milestone output(s):

The following items should be completed:

1. Set up the project and finalize the development flow
2. Finalize the System Design and code-base
3. Implement portfolio management for token balance, NFTs, historical transactions, and delegation performance
4. Implement real-time historical trading, and farming dashboard across DEXs
5. Deploy website on production

Acceptance Criteria:

1. The website is deployed on the production, ready for users to explore
2. Manage portfolio for token balance, NFTs, historical transactions, and delegation performance needs to be completed
3. Real-time historical trading, and farming dashboards across at least 6 available DEXs are available on production.

>This milestone will focus on Integrating new DEX and lending protocols.

Milestone output(s):

The following items should be completed:

1. Research on Integrating Lending Protocols
2. Build a dashboard for monitoring project performance
3. Implement Real-time historical trading, and farming dashboard across all available DEXs in the ecosystem including Minswap, Spectrum, Wingriders, Sundaeswap, Muesliswap, Vyfi, and Teddyswap
4. Implement real-time lending activities and dashboards across all available Lending protocols Levvy, Lenfi, Lending Pond, Liqwid, and CherryLend
5. Finalize document code and design for lending protocol integration

Acceptance Criteria:

1. A real-time dashboard with pre-define key metrics allows everyone could track the project performance
2. Real-time historical trading, and farming dashboard across all available DEXs in the ecosystem
3. Lending activities dashboard across at least 4 protocols
4. Release technical documents for the analytics process of DEXs and Lending Protocols

>This phase focuses on creating monitoring dashboards to measure the success and impact of the project, as well as optimizing the UI/UX to ensure the website runs smoothly. Additionally, we are enhancing our portfolio capabilities by adding Dapp interactions, farming, borrowing, and lending positions. Then calculate the profit and loss. Dig deeper and provide an analysis of key protocols

Milestone output(s):

During this phase, we aim to complete the following items

1. Revamp UI and optimize query data speed and website performance overall
2. Implement portfolio for active and historical farming, CDP, lending & borrowing positions
3. Calculate Profit and loss based on trading activities, impermanent loss for farming positions, and defaults for lending positions
4. Make an analysis dashboard to monitor protocol performance for the top 80% of TVL protocols including Optim Finance, Indigo, DEXs, and Lending protocols based on Defillama data https://defillama.com/chain/Cardano

Acceptance Criteria:

1. Dashboards for monitoring the performance of TVL protocols are available for everyone to access
2. Allow users to track their active and historical farming, CDP, lending & borrowing positions on the portfolio page
3. Profits and losses are calculated from trading activities, farming, and lending positions
4. Publish technical articles around collecting data and analytics processes to collect feedback from the community

>In the last milestone, we'll be exploring additional protocols at a deeper level and from different aspects to gain more actionable insights and integrate more protocols into production.

Milestone output(s):

The following are items that will be done in this phase.

1. Optimize data accuracy and query speed data overall. Explore more insights from integrated protocols if possible
2. Research on integrating with new DEXs once they go live such as Axo, MinswapV2, and Genius Yield. Other protocols such as Butane, LiqwidV2, and so on.
3. Review & finalize the project

Acceptance Criteria:

1. Make sure there are no or just minor errors reported by users around querying data speed and data accuracy
2. Release technical documents about the analysis process for new protocols and make the final report

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

Dang Tien Manh

Lead Engineer, Senior Blockchain Engineer, Fullstack Engineer

Responsibilities:

• Collect data & optimize server/database performance
• Design the system to be easily compatible with diversity protocols
• Analyze on-chain data
• Implement frontend and backend services
• Manage the project's progress

Linkedin: https://www.linkedin.com/in/manhdt/

Twitter: https://twitter.com/_manhdt

Dang Quyet Chien

Senior Fullstack engineer.

Responsibilities:

• Database optimization
• Design the microservice architecture, caching layers
• Implement Frontend, backend services, and UI/UX parts

Linkedin: https://www.linkedin.com/in/qchien014/

Vu Quynh Mai

Data Analyst

Responsibilities:

• Build dashboards to measure & increase the performance & influence of the project
• Research Defi protocols data flow to integrate
• Design & optimize collecting data flow and querying data speed
• Analyze on-chain data at deeper levels and various aspects to bring more actionable insights

Linkedin: https://www.linkedin.com/in/mai-vu-620750196/

Please provide a cost breakdown of the proposed work and resources.

I. Storage and Computing Cost

• Storage: 2 TiB for running Node, Database and Backup DB, Indexer.
• Computing:
• 1 server for running Database instance.
• 1 server for running node 8 vCPUs and 32 GiB RAM
• 2 servers for running internal services, 8vCPUs, and 16 GiB RAM on each server
• 1 small In-memory Database: 2 vCPU, 1.37 GiB RAM

We decided to purchase the one-year package to reduce the overall cost since It's much cheaper if we pay for a year in advance.

Although this proposal is for a 5-month duration, we would like to request an additional 3 months to keep services running after that. Therefore, the final requested months for storage and computing cost is 8 months (approximate upfront cost). We will pay for the remaining 4 months ourselves.

https://calculator.aws/#/estimate?id=d7041f5fd0fb7833b169072749635d2d517b433c

Total Requested Server Cost = 13800 * 8 / 12 = 9200 $ ~24000 ADA

II. Development & Marketing Cost

Milestone 1: Setup project and implement basic features for the launch v1 (4 weeks)

There will be a group of 2 engineers and a data analyst work for 280 hours to deliver the following items:

• Set up the project and finalize the development flow.
• Finalize the System Design and code-base
• Implement real-time trading, and farming views across DEXs
• Implement portfolio management Version 1

Development cost: 16800 ADA (hourly cost: 60 ADA)

Server Cost: 24000 ADA

ADA allocation: 40800 ADA

(Percentage of Total Project Cost: ~34%)

Milestone 2: Integrate DEXs and Lending protocols in the ecosystem (4 weeks)

There will be a group of 2 engineers and a data analyst work for 320 hours to deliver the following items:

• Research on integrating lending protocols and finalize technical design document
• Build a dashboard for monitoring project performance
• Implement real-time historical trading, and farming dashboard across all current available DEXs in the ecosystem including Minswap, Spectrum, Wingriders, Sundaeswap, Muesliswap, Vyfi, and Teddyswap.
• Implement real-time lending activities across all available Lending protocols Levvy, Lenfi, Lending Pond, Liqwid, and CherryLend

Development cost: 19200 ADA (hourly cost: 60 ADA)

ADA allocation: 19200 ADA

(Percentage of Total Project Cost: ~16%)

Milestone 3: Enhance portfolio management, and dashboards for tracking performance of top protocols (8 weeks):

There will be a group of 2 engineers and a data analyst work for 640 hours to deliver the following items:

• Revamp UI and optimize query data speed and website performance overall.
• Implement portfolio for active and historical farming, CDP, lending & borrowing positions
• Calculate Profit and loss based on trading activities, impermanent loss for farming positions, and APR, defaults for lending positions.
• Make dashboards to monitor protocol performance for top total value lock protocols including Optim Finance, Indigo, DEXs, and Lending protocols based on Defillama data https://defillama.com/chain/Cardano
• Incentive program to onboarding more users using our product and collect feedback from the community

Development cost: 38400 ADA (hourly cost: 60 ADA)

Incentive Program: 2000 ADA

ADA allocation: 40400 ADA

(Percentage of Total Project Cost: ~33.67%)

The final milestone: Optimize data accuracy and query data speed. Integrate the newest protocols in the ecosystem (4 weeks )

There will be a group of 2 engineers and a data analyst work for 280 hours to deliver the following items:

• Optimize data accuracy and query speed data overall
• Research on integrating with new DEXs once they go live such as Axo, MinswapV2, and Genius Yield. Other protocols such as Butane, LiqwidV2, and Optim Finance.
• Incentive program to onboarding more users using our product and collect feedback from the community. Review & finalize the project

Development cost: 280 * 60 = 16800 ADA (hourly cost: 60 ADA)

Incentive Program: 2800 ADA

ADA allocation: 19600 ADA

(Percentage of Total Project Cost: ~16.33%)

Total ADA allocation for the project: 120,000 ADA

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

Value for Cardano:

The project itself is an analytical tool. Therefore, we will bring many valuable insights to protocols and users within the ecosystem.

The project's value for money is presented by:

1. User Engagement:

This project will encourage people to explore farming, lending, and other features within the protocol. This increases user interaction with the protocol. Additionally, we gain more insights, there are more chances for new users who come from chains to stay with us.

2. Protocol Transparency

Current project performance metrics are analyzed and visualized in a central location. Therefore, the actual performance of the project will be transparent.

3. Protocol Adoption Improvement

Our analysis provides valuable insights and reveals potential risks to the protocol. From this, development teams can consider improvements to increase adoption

4. Knowledge Transfer

With articles about technical and analytical processes and real-time dashboards publicly available, both users and developers within the ecosystem can gain more knowledge together.

Cost of the Project:

Regarding the budget breakdown, we mainly considered two points.

1. Storage and Computing Cost

We considered various cloud providers such as Google Cloud, AWS, and Azure for building infrastructure. We found that AWS is a great choice for startups since it is cheaper compared to other providers and has been adopted widely. Storage cost is pretty high compared to other projects since we are developing analytics tools that require collecting all on-chain data and building indexers to optimize query speed combined with the backup solution.

2. Wage rate

Our country is Vietnam where the wage rate is pretty low. The costs estimated here are sufficient when compared to the average wage of senior freelancers in Vietnam.