Please describe your proposed solution

Yepple has had countless clients come to us for metadata updates – whether it is to update a layering complication from an original launch, rename a metadata trait, or completely revamp the collection’s art, there is always a desire for creators and project owners to continue to improve their collections. There are currently no publicly available tools to enable all project owners to perform these updates at scale. Service providers such as ourselves do our best to provide price flexibility for large updates, however the cost always ends up being the limiting factor for projects as they often want to update the entire collection multiple times to continuously improve the experience of their holders.

With our open-source metadata update solution, the average project owner can cost effectively update the metadata of their entire collection multiple times… every week! Our solution dramatically decreases the cost associated with metadata updates, with the only cost being the transaction fees. With intelligent fee reduction for transactions via bundling and minimized CIP-68 locked UTxO values, our solution enables frequent updates and opens the door to a new era of engagement between an NFT community and their assets.

A noteworthy mention about our solution’s CIP-68 capabilities: if a CIP-68 collection was previously created with an excessive amount of ADA locked up with the CIP-68 reference tokens, our solution can extract that ADA from those tokens during the metadata update process, releasing those funds back to the project owner so that they can afford even more metadata updates in the future!

Our easy-to-use command-line tool, built primarily with TypeScript, will support all applicable CIP standards, including CIP-25 and CIP-68. With CIP-68 in mind, this means that it supports both NFTs and fungible tokens, and can seamlessly convert the well-known Cardano metadata format into the corresponding UTxO datum format required for CIP-68.

When it comes to efficiency, our solution combines batching with parallelization for optimal speed. Our team has performed metadata updates on hundreds of thousands of transactions with ease. On top of that, knowing that the built-in error handling and verbose logging will make sure nothing unexpected happens, you’ll be able to start the update and then walk away. When you come back, the update will be done with a detailed breakdown on everything that was updated with all transaction IDs included!

<u>Demonstrating Impact:</u>

We will track the adoption of our solutions through direct feedback, tool usage metrics, and success stories from project owners who utilize our metadata update solution. This will allow us to continuously refine our offerings and provide tangible evidence of our impact on the ecosystem.

<u>Unique Benefits:</u>

What sets our solution apart is its proven track record, ease of integration, support for all tokens and token standards, fee optimization, and robust error handling. By democratizing access to high-quality metadata update tools, we are delivering empowerment, independence, and wealth to project owners and consequently the members of their communities.

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

<u>Positive Impact on the Cardano Community</u>

Our project will significantly enhance the Cardano ecosystem by democratizing access to metadata update technology, reducing dependency on costly service providers and promoting a culture of transparency and collaboration. By open-sourcing our advanced metadata update solution, we empower creators across the globe to manage asset metadata independently with a secure, scalable, and free tool. This not only drives innovation within the Cardano community but also attracts new users and developers to the platform, strengthening its position in the competitive blockchain space.

We will measure the impact of our project through several key metrics:

1. Adoption Rate: Tracking the number of projects and users adopting our tool.
2. Community Contributions: Monitoring updates and enhancements made by the community to the open-source code.
3. Cost Savings: Calculating the average cost savings for projects using our tool compared to traditional service providers, as these cost savings are now going directly back to the community by allowing projects to constantly improve the assets held by the community.

To ensure wide distribution and engagement, our outputs will consist of:

• A GitHub repository hosting the complete source code
• Comprehensive documentation of how to configure and facilitate metadata updates using our tool
• Advice, insights, and guides on the best practices surrounding common metadata update use-cases, gained from several years of experience performing them

These efforts will not only showcase the practical benefits of our solution but also reinforce Cardano's reputation as an inclusive and innovative blockchain community.

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?

Yepple has a strong track record of delivering high-quality blockchain solutions since February 2021. Having successfully managed over 200 projects on the Cardano platform over the past three years, we have not only mastered the technology relevant to this proposal but also gained countless invaluable insights into the impact of efficient metadata update processes on community engagement and project success. Our team is composed of seasoned blockchain developers, project managers, and strategists who are deeply knowledgeable about the Cardano ecosystem. This experience positions us uniquely to deliver this metadata update project with high levels of expertise, trust, and accountability.

While Yepple has deployed many solutions on Cardano (minting, token generation, airdrops, staking, NFT customizers, storefronts, custom dApps), our metadata update tools aim to set a new standard for managing assets on Cardano. This solution, essential for improving and innovating on NFT metadata efficiently, represents our commitment to quality and innovation. We are eager to share these tools with the community as part of this proposal. We are confident in our ability to provide the necessary support and guidance to encourage the adoption of this solution, making the process of metadata updates less daunting for all project owners.

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

Milestone 1: Milestone 1 (Planning &amp; Technical Design):

• Outputs: Scope of work, design, and other associated planning documents for all technical aspects of the proposal. Importantly, this includes documentation on the setup, configurations, and usability from the perspective of our target audience, project owners.
• Acceptance Criteria: The designs and documentation provide a clear preliminary understanding of how a project owner can set up and run their own Cardano token (NFT &amp; FT) metadata updates. The documentation elaborates on the solution to all high-level technical requirements in this proposal and aligns with the future milestones of this proposal.
• Evidence: Documentation in a public GitHub repository (alongside the future codebase) detailing the planned method of interacting with the finished product.

Milestone 2: Milestone 2 (Product Development):

• Outputs: A product encompassing every technical feature and all functionality detailed in this proposal. This includes a refactoring of Yepple’s existing codebase to be usable by project owners, as well as additional development for customization, ease of use, and adaptability as an open-source product. Includes a screen recording video demonstration (in dry-run mode).
• Acceptance Criteria: Product development meets all technical requirements described in this proposal. A recording of a demonstration is shown with verbose logging and fee reporting as described elsewhere in this proposal.
• Evidence: The GitHub repository codebase and associated demonstration video will serve as evidence of the completed product development and its effectiveness as a deployed solution.

Milestone 3: Milestone 3 (Technical Documentation, User Instructions, &amp; Community Support):

• Outputs: Codebase documentation and enhanced user documentation. The codebase documentation will increase the ability for developers to understand and contribute to future versions of the codebase, increasing long-term sustainability. With the product in place, the enhanced user documentation will provide project owners with a complete instruction manual for hosting their own metadata updates using the current version of the codebase at this stage.
• Acceptance Criteria: There is sufficient documentation within the code and alongside the GitHub repository to meet open source best practices and assist in the community’s ability to build and iterate on the solution. Yepple is available through Discord to accept and respond to all community feedback and questions. Any issues or feature requests mentioned through GitHub or Discord have been documented and considered for feasibility; if feasible within the scope of this proposal, the features were added for an improved experience.
• Evidence: The project structure and modules have their purposes all clearly explained in the repository documentation. All critical components of the code have appropriate documentation for classes, methods, and other key logic. Responses to GitHub Issues within the repository. A channel in Yepple’s official Discord dedicated to feedback on our open source development where the Yepple team is responsive to questions and comments.

Final Milestone: Milestone 4 (Close-Out Report &amp; Video):

• Outputs: Comprehensive project report detailing the development process, community impact, and future directions. A professional video showcasing the project's journey and final product.
• Acceptance Criteria: The report and video must comprehensively cover all aspects of the project, demonstrating the success and community benefit.
• Evidence: Final project close-out report and a video link shared with the community through Discord, social media, and potentially additional locations.

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

Nicholas Fekete - CEO/Management

Jake Shearman - CTO/Fullstack Blockchain Developer

Dominic Monette - Developer/Quality Assurance

Tyler McVety - DevOps/Blockchain Developer

Robert Nuss - Project Management

Campurean Alexandru (Sic) - Marketing

Please provide a cost breakdown of the proposed work and resources

Design:

Development of initial scope, design documents, and planning materials tailored for Cardano NFT metadata and image layering configurations.

Cost: 10k ADA

Development:

Creation of a fully functional product with features for custom metadata generation and image layering, including refactoring for open-source use.

Cost: 65k ADA

Documentation:

Comprehensive documentation and user guides to support project owners in implementing and utilizing the metadata and image layering tools effectively.

Cost: 10k ADA

Management:

Coordination and oversight of the project lifecycle to ensure timely delivery and adherence to technical specifications.

Cost: 5k ADA

Marketing &amp; Support:

Engagement with the Cardano community through educational materials, support channels, and marketing activities to drive adoption and feedback.

Cost: 5k ADA

An optional dependency on Cardano API providers, such as BlockFrost, will be available as a substitute for setting up an in-house Cardano Node (a free, open-source application itself). This is needed for basic transaction operations, and is not dependent on any specific third party.

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

Our proposed budget represents exceptional value for money for the Cardano ecosystem, reflecting more than three years of intensive development by our experienced team. The investment of 95k ADA in open-sourcing our metadata update techstack is significantly lower than the industry costs of hiring three skilled developers to build a similar robust, secure, and fully-functional metadata management platform from scratch. Typically, the costs associated with such extensive software development and testing could exceed several hundred thousand dollars, given the specialized nature of blockchain technology. We are not only offering the Cardano community access to our refined, bulletproof technology but also providing comprehensive documentation. This ensures that even those new to the space can quickly leverage our tools to efficiently update and manage NFT metadata, thereby enhancing innovation and participation within the Cardano ecosystem. In essence, we are equipping the community with a high-caliber toolset that streamlines metadata management, reduces operational costs, and fosters greater accuracy and creativity on the blockchain.