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Revenue Share Token Smart Contract

$10,000.00 Received
$10,000.00 Requested
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Problem:

There are currently no open source smart contracts for Revenue Share Tokens applications, which could be used by many different platforms.

Challenge: F7: Mini/Low-Budget Dapps & Integrations
completed Awarded 5% of the fund.
Proposal Assessor Reviews:
4.17 (12)
Yes Votes:
₳ 79,598,756
No Votes:
₳ 3,158,807
Unique Wallets:
204

Experience

Loxe Inc. team, experienced and hackathon winning group of Plutus developers, participants of Gimbalabs PPBL, and experienced web developers

Solution

To build an open source smart contract for revenue sharing for Cardano DApps.

  • Video cover image

Detailed Plan

.

Revenue Sharing Tokens (RSTs)

In the context of token utilities, revenue sharing is probably one of the most fundamental use cases. Just like owning some shares of a company that pays dividends, by holding some RSTs you receive your shares of the profit made by the platform that issued the RSTs.

By issuing and selling RSTs, new platforms can raise money from crypto investors who believe in their project and in what they are building.

RST smart contract functionality

The most straightforward way of distributing revenue to RST holders is to send them their respective share of the platform's income based on a specified frequency. This approach, although, eventually leads to high transaction fees, proportional to the number of RST holders and also on the distribution frequency.

To avoid this issue, two main strategies can be used:

  • Decreasing the frequency at which rewards are distributed
  • Picking some RST holders randomly to receive rewards at that each rewards distribution batch

The RST distribution smart contract will query the Cardano blockchain, identify the RST holders and distribute the rewards based on their shares and the parameters defined by the platform owner, such as frequency and percentage of RST holders to receive funding each distribution round, for example.

Roadmap

<u>March 2022</u>

  • Development of the RST smart contract

<u>April 2022</u>

  • Testing of RST smart contract on testnet
  • Open sourcing code and documentation

Success metrics

  • After 3 months: RST smart contract developed and open sourced
  • After 6 months: 10+ projects using the RST smart contract
  • After 12 months: 30+ projects using the RST smart contract

Team

The Loxe Inc. team is behind this proposal, and we have already been funded through Catalyst in Fund 6 for the following proposals:

  • Win-Win Dispute Resolution: <https://cardano.ideascale.com/a/dtd/368353-48088>
  • Gravatar for ADA Wallets: <https://cardano.ideascale.com/a/dtd/367448-48088>
  • Proof of identity for mediators: <https://cardano.ideascale.com/a/dtd/368367-48088>

Besides, we are building partnerships with other projects being developed in the Cardano and Catalyst ecosystems, such as the Proposal Mentor Marketplace (https://cardano.ideascale.com/a/dtd/369749-48088).

Our team site ( <https://winwin-team.web.app/> ) has additional information on each team member incl. LinkedIn and/or Github links.

<u>Matthias Sieber</u>

  • Professional Software Engineer for over 20 years
  • worked on Liqwid through MLabs internship
  • Conflict Resolution Specialist (Mediator, Facilitator, Peacekeeper, Educator)
  • BA in Negotiation, Conflict Resolution, and Peacebuilding
  • Master of Dispute Resolution
  • Community-elected Moderator on Cardano Stack Exchange
  • Plutus and Prism Pioneer (1st cohorts)
  • Project Catalyst Community Advisor and Veteran Community Advisor
  • Catalyst Circle member representing the Cardano Foundation
  • Cardano Ambassador
  • Built successful marketplaces, startups, SMBs, and mission-driven teams
  • Gimbalabs PPBL Team Member

<u>Eli Selkin, L.C.S.W., M.S</u>

  • Professional Software Engineer for over 5 years
  • Plutus Pioneer
  • Gimbalabs PPBL Team Member
  • MS in Computer Science, specializing in Machine Learning
  • ML architect
  • B.A. in Psychology
  • Masters of Social Work
  • Licensed clinical social worker

<u>Victor Corcino</u>

  • Energy Industry Engineer for 6 years
  • Gimbalabs PPBL Team Member
  • Member of the 1st Catalyst Circle as Community Advisors representative
  • Catalyst Veteran Community Advisor and Proposal Mentor
  • Co-creator of AIM Community Tools (CA/vCA Tools, Voter Tool)
  • BSc Chemical Engineering and MSc Chemical Engineering and Software Development
  • Specialization in Data Science, Artificial Intelligence and Machine Learning
  • PhD candidate, researching the field of Machine Learning applied to Computational Fluid Dynamics

<u>Ganesh N</u>

  • Professional Software Engineer for over 8 years
  • Plutus Pioneer (1st cohort)
  • Gimbalabs PPBL Team Member
  • BTech in Electronics and Communication Engineering
  • Has lead development of large scale applications
  • Experience in the financial services industry

Budget

  • 2 Plutus developers part time for 2 months: $2000 x 2 x 2 = $8k
  • Project and integration management for 2 months: $2k
  • Total: $10k

Proposal Assessor Reviews

Addresses Challenge

4.3 / 5
4 Reviews

Does the proposal effectively addresses the challenge?

Community Reviews (4)

Commenter gravatar

Implementing a smart contract for RST which would be open source will have a large impact on the whole community. Since (I believe) that passive income is one of the primary goals of crypto investors, it would attract new dapps devs and therefore new cardano holders with the vision of having a share and thus having a passive income. The proposal is also in accordance with the challenge by both the budget and the goal.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_54
Total QA Ratings
19
QA Rating Outcome
Good
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Commenter gravatar

Reading this proposal is like reading the information that one as a consumer can find about a product on its packaging: it is possible that inside one can find the solution to a problem.

Although the reader comes to understand the central problem that the proposal intends to solve only by reading the whole proposal and not by reading the description of the problem in the "Problem Satement" section (high transaction fees in the distribution of revenue to RST holders), in a first reading the proposal seems coherent: in a general way it describes the need to build a Smart Contract to diminish the impact of high transaction fees.

The reading of the proposal leaves the feeling that there are no cracks that could prevent its implementation: a competent and recognized human resource in the Catalyst ecosystem (Corcino, Sieber) with several proposals in F7, a solution (Smart Contract) to a problem (high transaction fees), a general knowledge of the problem environment (including the identification of two main strategies that could be the key to reach a solution).

The proposal complies with the time and budget parameters established by the "Mini/Low-Budget Dapps & Integrations" campaign to which it belongs.

However, one is left with the feeling of having read the proposal's shell and not having had the opportunity to give a taste of its liquid center. In my opinion, the proposal meets important parameters of the proposal submission as such, but it does not go to a level of depth that really allows to establish whether the proposal will generate a significant impact on the Cardano ecosystem.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_541
Total QA Ratings
19
QA Rating Outcome
Good
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Commenter gravatar

They seek to build an open source smart contract for revenue sharing for Cardano DApps by issuing and selling RSTs that can raise money from crypto investors. Seems to be a good project.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_688
Total QA Ratings
22
QA Rating Outcome
Good
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Commenter gravatar

Proposal addresses and fits well the challenge, incl the timeline and budget limits. Having a revenue share token smart contract open sourced will support the ecosystem very strongly.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_685
Total QA Ratings
17
QA Rating Outcome
Good
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Feasibility

4 / 5
4 Reviews

Given experience and plan presented is likely that this proposal will be implemented successfully

Community Reviews (4)

Commenter gravatar

The team is well described and more details can be found on their website. Along with the fact, that they are previously funded proposers, there is no room for doubts. The budget, since it meets 10k according to the challenge seems reasonable, but it would be nice to define the "part time" or rather set "hours" spend on the project. Also, since the roadmap is set only for two months, it would be fine to see weeks distribution, just to provide a better picture.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_54
Total QA Ratings
19
QA Rating Outcome
Good
Confirming your humanity

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According to the proposal, the implementation formula is very simple: 3 months to build the Smart Contract, 1 month for testing and documentation construction. However, it is in that simplicity that details are lost that could enrich the voters inquiry and reasoning process. More details about the Smart Contract building process, the testing process and the documentation building process, as well as more details about the specific tasks to be accomplished by the Plutus developers and the project integration manager, would help to connect many dots. In other words, the credibility and feasibility of the proposal cannot rest solely on the proponents of the proposal and their credibility, knowledge, experience and active participation in the Catalyst ecosystem. In my opinion, a little more technical depth of information would be valuable as a decision tool for the voter.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_541
Total QA Ratings
19
QA Rating Outcome
Good
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Commenter gravatar

The team of 4 experts in block chain, software development, community advisors, etc who can successfully implement the proposal. The plan looks good mentioning, among others , that they will identify RST holders and distribute rewards on their shares. Proposal is feasible.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_688
Total QA Ratings
22
QA Rating Outcome
Good
Confirming your humanity

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Very experienced team with a proven track record, both regarding the network within the community and technical skills. The plan (strategy or initial logic/algorithm) proposed in this document is ambitious, but realistic and convincing for a successful implementation.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_685
Total QA Ratings
17
QA Rating Outcome
Good
Confirming your humanity

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Auditability

4.3 / 5
4 Reviews

Does the proposal provides sufficient information to assess and audit progress and completion?

Community Reviews (4)

Commenter gravatar

The problem of non existing RST and basically create open source smart contract based RST is answering the problem-solution assessment part. Regarding KPIs, these can be find under success metrics and I find them suitable for auditing the success and to audit the progress, the open source code is used.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_54
Total QA Ratings
19
QA Rating Outcome
Good
Confirming your humanity

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Commenter gravatar

The metrics are sufficiently timely to allow the success or failure of the proposal to be established. However, as a voter, one question is on my mind: what would prevent the successful implementation of the proposal?

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_541
Total QA Ratings
19
QA Rating Outcome
Good
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Commenter gravatar

The road map is clear starting from March 2022 for 12 months with detailed work schedule listed in the proposal. The budget is broken down to details.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_688
Total QA Ratings
22
QA Rating Outcome
Good
Confirming your humanity

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Commenter gravatar

Success metrics are presented in the proposal and suitable considering the nature of this project. Since the output is an open source solution, the progress and the success of the proposal is transparent and easily verifiable.

Assessment Quality Assurance

Assessment Quality Assurance is an offered role to veteran in the Cardano Project Catalyst Community. The purpose is to review PA assessments of proposals, providing a second layer of Quality Assurance.

Assessor ID
z_assessor_685
Total QA Ratings
17
QA Rating Outcome
Good
Confirming your humanity

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Monthly Reports

We have already developed a flow chart for the smart contract and started building it. We are currently evaluation the integration with an oracle and testing it out.

Disbursed to Date
$10,000
Status
Still in progress
Completion Target
5/31/2022

The proposal is progressing as expected.

Disbursed to Date
$10,000
Status
Still in progress
Completion Target
5/31/2022

Evrything was already developed and tested. We are now finalizing the description of the repository in GitHub and preparing the close-out report and video, so we are closing this out within one week.

Disbursed to Date
$10,000
Status
Still in progress
Completion Target
5/31/2022
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