Please describe your proposed solution.

Our proposed solution involves conducting a comprehensive security audit of the "NFT Staking Smart Contracts" to identify any potential vulnerabilities or weaknesses. The audit will be performed by a reputable third-party security firm with expertise in blockchain technology. Once the audit is completed, we will address any identified issues and implement the necessary fixes to ensure the portal's robust security.

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

Our proposed solution addresses the challenge by conducting a comprehensive security audit of the NFT Staking Portal smart contracts. This will enhance the security of the platform, reduce the risk of vulnerabilities, and increase trust and confidence among users and stakeholders. By openly sharing the audit report, we promote transparency, accountability, and community collaboration, driving the ecosystem towards higher security standards. This contributes to the long-term sustainability and success of Cardano by attracting developers, investors, and wider adoption, solidifying its reputation as a secure and reliable blockchain platform.

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

We will measure the success of our project based on the outcomes of the security audit. The key metrics for success include the identification and resolution of any security vulnerabilities or weaknesses found during the audit. Additionally, the successful implementation of the necessary fixes and enhancements to enhance the overall security of the "NFT Staking Smart Contracts" will be a measure of success.

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

We plan to share the outputs and results of our project by publishing the comprehensive security audit report and the corresponding fixes and enhancements to an open-source repository. This will ensure transparency and enable the wider Cardano community to benefit from our findings and contribute to the ongoing improvement of the "NFT Staking Smart Contracts" security.

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

As the developers of the NFT Staking Smart Contracts itself, we will possess in-depth knowledge of the codebase and will be intimately familiar with its intricacies.

We have a proven track record of conducting audits for our previous projects, during which we diligently addressed all identified issues

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

The main goals of the "NFT Staking Smart Contracts Audit" project are to enhance the security and trustworthiness of the NFT Staking Smart Contracts. By conducting a comprehensive security audit, addressing any identified issues, and publishing the results, we aim to increase the project's security and instill greater confidence in its functionality.

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.

Milestone 1: Security Audit

• Request for Proposal from reputable and proven audit firms, vendor selection based on the references and proposals, contracting
• Provide the necessary documentation, access to the codebase, and any additional resources required for the audit
• Collaborate with the audit firm to define the scope and objectives of the audit
• Review and address any vulnerabilities, weaknesses, or issues identified during the audit
• Expected Timeline: 6 weeks
• Projected Cost ₳154,000

Milestone 2: Issue Resolution and Fixes

• Prioritize and address the identified issues and vulnerabilities based on their severity and potential impact
• Develop and implement necessary fixes and security enhancements to resolve the identified issues
• Conduct thorough testing and quality assurance to ensure the effectiveness and stability of the fixes
• Expected Timeline: 3 weeks
• Projected Cost ₳87,000

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

Milestone 1: Security Audit:

• Comprehensive audit reports conducted by a reputable security firm
• Detailed documentation outlining the findings and recommendations of the audit Intended Outcome:
• Identification of potential security vulnerabilities and risks within the NFT Staking Smart Contracts
• Awareness of any weaknesses or areas for improvement in the system's security measures

Milestone 2: Bug Fixes and Enhancements:

• Updated codebase with implemented bug fixes and security enhancements Intended Outcome:
• Resolution of identified security vulnerabilities and weaknesses
• Improved stability and reliability of the NFT Staking Smart Contracts

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

The proposal budget will be used to cover the cost of the audit and remediation of findings by engineering

The project duration is estimated at 3 months.

Resource MDs:

Smart Contract Auditort: 25

Smart Contract Auditort: 25

Smart Contract Dev Senior: 20

Smart Contract Dev Junior: 10

Project Management: 5

Total Budget: ₳241,000

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

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

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

First, by providing a ready-to-use solution, it saves many other projects valuable time, effort, and resources that would otherwise be required to develop a similar system from scratch. This cost-saving aspect is significant, considering the complexity and expertise needed for such a project.

Additionally, building the portal in a unified manner enhances integration across the Cardano ecosystem. Instead of multiple projects developing their own staking portals, having a centralized solution ensures consistency, interoperability, and seamless integration with other Projects and particularly also decentralized exchanges (DEXes).

By undergoing a comprehensive audit once, which is part of a separate proposal, the "NFT Staking Portal" can ensure the highest level of security and reliability for users. This eliminates the need for individual audits of multiple solutions, saving costs and streamlining the overall auditing process.

Furthermore, the project's impact extends beyond the portal itself. It enhances the DeFi space on Cardano by providing staking functionality for NFTs, opening up new possibilities for users and projects. Protocols can leverage this core functionality to build additional features and services, fostering innovation and expanding the capabilities of the Cardano ecosystem.