Please describe your proposed solution

Our project aims to address a significant gap in the Cardano ecosystem: the lack of user-friendly, flexible, and open-source multisig (multi-signature) wallet solutions. Multisig wallets are essential for securely managing shared assets because they require multiple parties to approve a transaction before it can be executed. However, current multisig options in Cardano are either too complex for non-technical users or too rigid to accommodate the diverse needs of decentralized organizations and individuals.

Problem

The main issues we are solving include

• Complexity: Existing multisig solutions are hard to set up and require a high level of technical expertise, which limits adoption among non-expert users.
• Inflexibility: Current tools don’t offer much customization for different use cases. For example, DAOs and projects may require advanced features like time-locked signatures or role-based permissions, which are not widely supported.
• Lack of Open-Source Options: There are few, if any, open-source multisig tools in Cardano, which restricts community-driven innovation and makes the system less transparent and trustworthy.

Solution

We propose Multisafe, an open-source, user-friendly, and highly customizable multisig solution built for the Cardano blockchain.

Here’s why we are approaching the solution in this way:

• Accessibility: We want to make multisig accessible to everyone, from beginners to advanced users. Multisafe will have an easy-to-use interface that walks users through the process of setting up multisig wallets. This lowers the barrier for entry, enabling more people to securely manage shared assets.
• Flexibility: We will provide advanced features such as time-locked signatures (where transactions need approval within a specific time) and role-based permissions (where certain users have more authority). This flexibility will make Multisafe adaptable for various use cases, from DAOs to individual asset management.
• Transparency: By open-sourcing the project, we allow the Cardano community to contribute, audit, and improve the platform. This fosters trust and innovation, which are crucial for decentralized systems.

Who Will Benefit

1. DAOs (Decentralized Autonomous Organizations): Multisafe will allow DAOs to manage collective assets securely and make governance decisions more efficiently.
2. DeFi Projects: Projects in decentralized finance that need secure, multisignature asset control will find Multisafe useful for ensuring that no single party can act unilaterally.
3. Individuals: Users who want to add an extra layer of security to their personal assets can also benefit from the multisig features.
4. Developers: The open-source nature of the project means developers can contribute to its growth, adapt it for other needs, or audit it for security.

How We Will Prove Impact

• Adoption Metrics: We will track the number of users and organizations adopting Multisafe over time.
• Community Engagement: The open-source repository will allow for direct feedback, code contributions, and ongoing improvements from the community.
• Feedback Loops: We’ll collect user feedback to continuously enhance the platform’s usability and security.
• Educational Resources: We will create tutorials, guides, and webinars to help users of all levels understand how to effectively use multisig wallets, further driving adoption.

Why This Is Important for Cardano

Multisafe plays a critical role in advancing decentralized asset management and governance within the Cardano ecosystem. By making multisig accessible and customizable, we empower more people and organizations to manage assets securely. The open-source nature of Multisafe encourages community collaboration and innovation, building trust and expanding the capabilities of decentralized finance on Cardano. This project aligns with Cardano’s mission of creating a decentralized and secure financial infrastructure that anyone can participate in.

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

Value to the Cardano Community

1. Enhanced Security and Trust: By making multisig accessible, we will empower users to manage shared assets and make decisions collaboratively, reducing the risk of fraud or mismanagement. This will build greater trust in decentralized governance and financial management across the ecosystem.
2. Empowering DAOs and Projects: DAOs and decentralized projects will benefit from a reliable tool to manage collective funds and governance processes. This strengthens the ecosystem’s ability to scale and decentralize efficiently.
3. Community-Driven Innovation: By making Multisafe open-source, we’ll foster collaboration from developers and users alike, enabling continuous improvement of the tool. This encourages innovation and ensures that Multisafe evolves in response to the community’s needs.

How We Will Measure Impact

We will use both quantitative and qualitative measures to evaluate success:

1. Adoption Metrics (Quantitative):

• Number of Multisafe Wallets Created: Tracking how many wallets are created will give us insight into how many users or organizations are adopting the tool.

• Volume of Transactions Secured via Multisafe: We will track the number and volume of transactions that are executed through Multisafe, showcasing how much collective value is being managed securely.

• Contributions to the Open-Source Repository: Measuring the number of code contributions, issue reports, and improvements will help quantify the community’s engagement with the project.

• Community Feedback (Qualitative):

• User Feedback: We will actively collect and analyze feedback from users to identify how well the tool meets their needs and where we can make improvements.

• Engagement through Educational Materials: We will monitor participation in our webinars, tutorials, and community forums to gauge how well users understand and adopt multisig tools.

Sharing Outputs and Opportunities

1. Open-Source Repository: All the code for Multisafe will be shared via a public GitHub repository, allowing the community to review, contribute, and collaborate. This will ensure that improvements are constantly being made and shared transparently.
2. Educational Content: We will create video tutorials, step-by-step guides, and documentation that will be shared freely with the Cardano community. These resources will help users of all experience levels to understand and adopt the tool.
3. Community Engagement: We plan to engage with the Cardano community through online events, such as webinars and workshops, where we will showcase how Multisafe works and gather feedback. This will also allow us to share updates on new features and enhancements.

Long-Term Impact

By providing a reliable and accessible multisig tool, we expect to contribute to the long-term growth and decentralization of the Cardano ecosystem. As more organizations and individuals adopt secure multisig practices, the community will benefit from increased trust, reduced risks, and greater collaboration in decentralized governance and finance.

In summary, the positive impact of Multisafe will be felt across multiple levels: empowering secure decentralized governance, fostering innovation, and making secure asset management accessible to all. Through open-source collaboration and community-driven development, Multisafe will continuously evolve and support the growth of the Cardano ecosystem.

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?

Capability to Deliver

1. Experienced Team: Our team consists of blockchain developers with expertise in Cardano, smart contracts, and multisig wallets. We have a deep understanding of decentralized finance (DeFi) tools and governance mechanisms, ensuring that we can build a secure and robust multisig solution.
2. Open-Source Track Record: We have experience managing open-source projects, which ensures transparency and accountability. We are familiar with the processes required to maintain a public GitHub repository, handle community contributions, and review code efficiently. Our commitment to open-source development fosters trust within the Cardano community.
3. UI/UX Expertise: Our designers specialize in creating user-friendly and intuitive interfaces, which will be critical in ensuring that Multisafe is accessible to all users, regardless of their technical experience. We understand the importance of delivering a seamless user experience to drive adoption.
4. Community Engagement: We have actively contributed to and engaged with the Cardano community in past projects, making us well-positioned to gather feedback, collaborate with developers, and promote the use of Multisafe. This ensures our approach aligns with the community's needs and expectations.

Steps to Validate Feasibility

1. Research and Planning: We’ve already conducted thorough research on existing multisig solutions and identified the gaps that Multisafe will fill. Our project plan has been carefully structured to ensure that we meet the needs of the Cardano ecosystem and that our approach is feasible both technically and logistically.
2. Phased Development Approach: We will follow a phased development process, starting with an MVP (Minimum Viable Product) that demonstrates the core functionality of multisig wallets. This allows us to validate our approach early, gather feedback, and iterate on the platform.

• Phase 1: Architecture design and development of the core multisig features.
• Phase 2: Prototyping, user testing, and feedback collection.
• Phase 3: Full integration and open-source release, followed by community engagement for ongoing improvements.

1. Testing and Security Audits: We will run extensive testing, both internally and with community participation, to ensure the security and functionality of Multisafe. We will also work with third-party auditors to validate the security of the multisig protocol, ensuring a high level of trust in the tool.

Proper Fund Management

1. Transparent Budgeting: We will provide a detailed breakdown of how the funds will be allocated, including development, open-source management, community engagement, and educational resources. This ensures clear accountability in terms of where the funds are being spent.
2. Regular Reporting: We will provide regular progress reports to the community, updating stakeholders on development milestones, fund allocation, and challenges. This transparency will help build trust with the Cardano community and demonstrate that we are managing funds responsibly.
3. Open-Source Repository: By open-sourcing the project, we will ensure transparency in how the funds are used for development. The community will be able to see the direct impact of funding through the ongoing contributions and improvements to the codebase.
4. Community Involvement: As part of our commitment to transparency and accountability, we will encourage community involvement in the development process. This means that not only will the project be auditable, but the community will also have a direct role in shaping and improving the tool.

Why We Are Best Suited

Our team's combined experience in blockchain development, open-source project management, and UI/UX design makes us highly capable of delivering this project. We’ve successfully contributed to similar projects in the past, and our deep involvement in the Cardano ecosystem ensures that we are attuned to the needs of the community. Furthermore, our structured and transparent approach to fund management, combined with community-driven development, ensures that this project will be executed with a high degree of trust and accountability.

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

Milestone 1: Research and Planning (Month 1-2)

• Description: Finalize the technical architecture for Multisafe and ensure compatibility with the Cardano blockchain. Complete the setup of the open-source repository and outline detailed development plans.
• Acceptance Criteria:
• Completed architecture design for the multisig solution.
• Open-source GitHub repository established and made public.
• Detailed project plan shared with the community.
• Internal project kickoff and team alignment.

Milestone 2: Prototype Development and Initial Testing (Month 3-4)

• Description: Develop the initial prototype of Multisafe with core features including wallet setup, multisig transaction approval, and user roles. Conduct internal testing and gather feedback.
• Acceptance Criteria:
• Working prototype of Multisafe with multisig wallet functionality.
• Initial testing conducted with a group of early users.
• Feedback collected from testing and improvements identified.
• Code contributions from team members visible in the GitHub repository.

Milestone 3: Full Integration and Open-Source Release (Month 5-6)

• Description: Complete the development of the full multisig functionality and release the open-source version of Multisafe to the public. Open the platform for community contributions and testing.
• Acceptance Criteria:
• Full multisig functionality, including advanced features like time-locked signatures and role-based permissions.
• Successful deployment of Multisafe on the Cardano blockchain.
• Public release of the open-source code on GitHub.
• Documentation for developers and users published in the repository.

Milestone 4: Community Engagement and Educational Materials (Month 7-8)

• Description: Create and distribute educational materials, including video tutorials and guides, to help users and developers adopt and contribute to Multisafe. Organize community events such as webinars and workshops.
• Acceptance Criteria:
• Educational materials (videos, guides, FAQs) published and shared with the Cardano community.
• At least one webinar or workshop conducted to engage users and developers.
• Active community discussions on GitHub and other platforms regarding project improvements.
• User adoption and engagement metrics tracked.

Final Milestone: Project Close-Out Report and Video (Month 9-10)

• Description: Finalize the project by producing a close-out report summarizing achievements, lessons learned, and future plans for Multisafe. Record a video showcasing the platform and its impact.
• Acceptance Criteria:
• Project Close-Out Report published, summarizing milestones, community engagement, adoption rates, and future development plans.
• Final video created and shared with the Cardano community, highlighting the features and value of Multisafe.
• Presentation of next steps for ongoing community involvement and improvements in the open-source project.

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

Project Team:

1. Beamlak Mohammed (Lead Developer)

• Role: Lead the overall development of Multisafe, with a focus on blockchain integration, smart contract development, and multisig functionality.
• Experience: Beamlak Mohammed has extensive experience in blockchain development, particularly with Cardano, and has worked on multiple decentralized applications (dApps).

1. (UI/UX Designer)

• Role: Responsible for designing an intuitive and user-friendly interface for Multisafe, ensuring a seamless experience for users of all levels.
• Experience: Expert in UI/UX design with a focus on blockchain platforms and decentralized applications, has worked on various projects to enhance accessibility in tech.

1. (Community Manager)

• Role: Oversee community engagement, including managing open-source contributions, gathering user feedback, and organizing educational webinars and workshops.
• Experience: With experience in building and managing online communities, will help foster a collaborative environment for developers and users.

1. (Smart Contract Developer)

• Role: Focus on the development and implementation of Cardano smart contracts for the multisig functionality.
• Experience: A Cardano blockchain specialist with a deep understanding of Plutus smart contracts, will ensure that the multisig solutions are secure and efficient.

1. (Security Auditor)

• Role: Conduct security audits to ensure that the multisig functionality and overall platform are secure from vulnerabilities.
• Experience: A cybersecurity expert specializing in blockchain security,has a strong background in conducting security audits for decentralized applications.

Future Recruitment:

We anticipate the need for additional team members to scale the project, specifically:

1. Blockchain Developer: We will be recruiting an additional blockchain developer to assist with ongoing development and to integrate future features such as multi-chain compatibility.
2. Educational Content Creator: We plan to recruit a content creator to help develop tutorials, guides, and video walkthroughs for users and developers.
3. Marketing Specialist: This role will be crucial for promoting Multisafe to the wider Cardano community and ensuring broad adoption through strategic marketing efforts.

Engagement with Team and Community:

We have already engaged with each core team member and received their commitment to the project. Additionally, we are actively involved in the Cardano community through Discord, Telegram, and other channels, where we have begun discussions with developers and community members who are interested in contributing to and testing the project.

This team’s combined expertise and established community presence make us confident that we can deliver the project successfully, with transparency, accountability, and ongoing collaboration with the Cardano ecosystem.

Please provide a cost breakdown of the proposed work and resources

Our budget is designed to cover all essential phases of the project, from development to community engagement and open-source management. We have carefully accounted for each element to ensure the successful delivery of the project.

1. Development Costs

This section covers the cost of developing the Multisafe platform, including coding, testing, and ongoing maintenance.

• Lead Developer (Beamlak Mohammed)
• Cost: $25,000
• Role: Oversees overall development, blockchain integration, and multisig functionality.
• Smart Contract Developer
• Cost: $20,000
• Role: Focuses on developing Cardano smart contracts for the multisig functionality.
• UI/UX Designer
• Cost: $10,000
• Role: Creates the user interface and ensures the platform is user-friendly and accessible to all.
• Additional Blockchain Developer (Future Recruitment)
• Cost: $15,000
• Role: Assists with multi-chain integration and future feature development.
• Security Auditor
• Cost: $8,000
• Role: Conducts audits to ensure that the platform is secure and free from vulnerabilities.

2. Open-Source Management & Maintenance

This section covers the cost of maintaining the open-source repository and managing community contributions.

• Open-Source Management
• Cost: $7,000
• Role: Oversees the GitHub repository, reviews contributions, manages community feedback, and ensures the platform remains secure and updated.
• Code Auditing & External Review
• Cost: $5,000
• Role: External code auditing to ensure all smart contracts and multisig functionality meet the highest standards of security and reliability.

3. Community Engagement & Marketing

Community engagement is key to the success of Multisafe. This section includes outreach, educational resources, and promotional activities.

• Community Manager
• Cost: $7,000
• Role: Engages with the community, organizes webinars, handles user feedback, and manages promotional activities.
• Educational Content Creation
• Cost: $5,000
• Role: Develops video tutorials, guides, and educational resources to onboard users and developers.
• Marketing & Promotion
• Cost: $8,000
• Role: Promotes Multisafe to the Cardano community and wider audience through social media, webinars, and community events.

4. Documentation & Reporting

This section covers the creation of documentation for both developers and users and ensures regular reporting on project progress.

• User & Developer Documentation
• Cost: $3,000
• Role: Creates detailed guides, FAQs, and instructions for setting up and using multisig wallets on Multisafe.
• Reporting
• Cost: $2,000
• Role: Regular reporting on milestones, budget use, and community feedback.

5. Project Management

This section covers the costs associated with the day-to-day management of the project.

• Project Manager
• Cost: $7,000
• Role: Oversees the project timeline, manages resources, ensures milestones are met, and handles communication with stakeholders.

6. Legal & Administrative

This section includes legal and administrative costs related to managing the open-source project.

• Legal Services
• Cost: $5,000
• Role: Covers legal expenses for open-source licensing, contributor agreements, and other legal requirements.
• Accounting & Administrative Costs
• Cost: $3,000
• Role: Covers administrative overhead, including accounting services to manage project funds and reporting.

Total Budget Request: $120,000

Third-Party Products and Services

• GitHub Repository: GitHub will be used for managing the open-source repository and community contributions. The repository will be free to access, but we will cover maintenance costs through the open-source management budget.
• Marketing Tools: We will utilize third-party tools (such as social media platforms and promotional software) for marketing and outreach, covered under the marketing budget.
• Code Auditing Services: External auditing services will be engaged to ensure security compliance.

Alternative Funding Sources

If the total project cost exceeds the requested funding, we will explore additional funding through community grants, collaborations with other Cardano projects, or partnerships with blockchain foundations.

No dependencies.

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

Key Points Supporting Value for Money

1. Immediate Utility to the Ecosystem: Multisafe addresses an urgent need in the Cardano ecosystem: accessible, user-friendly, and secure multisig functionality. This tool will allow decentralized organizations (DAOs), projects, and individuals to securely manage shared assets and decision-making, promoting wider adoption of decentralized governance and secure asset management.

2. Open-Source Contribution: By open-sourcing the entire project, we are creating a long-term asset for the ecosystem. The community can continuously improve and build upon Multisafe, which reduces the need for ongoing investment. The open-source nature ensures that the tool will evolve with the ecosystem, encouraging collaboration and innovation.

3. Cost Justification: The cost of the project has been carefully calculated based on industry standards for blockchain developers, UI/UX designers, and community managers. For example:

• Developer Rates: The rates for blockchain developers are proportional to industry averages, which typically range between $75–$150 per hour depending on experience and project complexity. Given the scope of the project, the cost of $25,000 for the lead developer and $20,000 for the smart contract developer is justified, as it reflects the complexity of building secure, multisig functionality and Cardano blockchain integration.
• UI/UX Design: The $10,000 allocated for UI/UX design is reasonable for ensuring a user-friendly interface. Creating a seamless experience is crucial for adoption, and this cost reflects the industry average for specialized blockchain user interfaces.
• Community Engagement & Marketing: Allocating $7,000 for a community manager and $8,000 for marketing ensures broad adoption of the tool. Given the importance of education, outreach, and promotion in driving adoption, these costs will provide high returns in terms of user engagement and ecosystem growth.

1. Long-Term Impact: The long-term benefits of a secure, open-source multisig solution cannot be understated. By providing an accessible tool for secure asset management and decision-making, the Cardano community will benefit from increased trust, security, and decentralized governance. This also encourages adoption of Cardano's decentralized finance (DeFi) capabilities, attracting more users to the ecosystem.
2. Proportional to Regional Costs: The project team’s costs are reflective of typical freelance rates for blockchain developers, designers, and community managers. In regions where the team operates, such as Ethiopia, the cost of living and labor rates are slightly lower, allowing us to deliver a high-quality project at a competitive price.
3. Educational Resources: A portion of the budget is allocated to creating educational content ($5,000), which represents exceptional value by ensuring users at all technical levels can access and understand the tool. This will drive adoption and create a more engaged and informed user base.

Comparison with Other Proposals

Compared to similar projects in the blockchain space, particularly those focused on multisig solutions, our budget is well within the average cost for a project of this scope. Open-source multisig projects in other ecosystems often have budgets ranging from $100,000 to $250,000, making Multisafe’s $120,000 budget proportionate to the scope and value it offers to Cardano.

The costs associated with the Multisafe project are carefully aligned with industry standards and the scope of work involved. Given the immediate utility, long-term impact, and open-source nature of the project, the costs provide significant value for the Cardano ecosystem by addressing a critical need and enabling secure decentralized governance and asset management for all users.