Browser tool- How to use DeFi dApps

completed

Browser tool- How to use DeFi dApps

$49,800.00 _Received

$49,800.00 _Requested

View on ideascale

Community Review Results (1 reviewers)

Addresses Challenge

Feasibility

Auditability

Solution

Integrated educational video tips via a popup browser extension that explain how to use specific DeFi dApps as you interact with them

Problem:

DeFi is difficult to use and understand. It's a new paradigm that requires knowledge of how DeFi components work and mistakes can be costly.

Yes Votes:

₳ 68,022,355

No Votes:

₳ 5,717,702

Votes Cast:

159

Team

Ben Mesnik

This proposal was approved and funded by the Cardano Community via Project F7: Seeding Cardano's Grassroots DeFi Catalyst funding round.

Detailed Plan

Overview

Tip Genius is a video game coaching tool that automates and integrates the search of tips into your game so you can more effectively learn and improve. I believe this same concept of integrating assistance directly into applications could be incredibly helpful in onboarding and educating millions of users to Cardano. My proposal is to expand Tip Genius to a browser extension that provides relevant, easily-digestible, high-quality tips on how to use DeFi dApps live while you interact with them.

DeFi is undoubtedly difficult to understand and navigate. People aren't used to being their own banks and the UX is lacking. To make things worse, the cost of error is astronomical - one bad click and you can lose all your money. You shouldn't need to scavenge the internet, potentially running into scams and bad advice, to figure out how to participate in a crowdfund or loan an asset.

Cardano puts emphasis on ensuring dApps are high quality and secure, but there's a gap in properly educating users on how to interact with these applications. Cardano also strives to bank the unbanked, a group that's less likely to be financially literate. A well rounded UX with built-in coaching will be vital to fostering a seamless blockchain experience for all.

Tips come in the form of short videos which showcase exactly how something would be done and a description with a sentence or two of complementary details. They offer straight-to-the-point directions and information live based on your interactions with a dApp, making learning accessible, effective, and safe. The content is strictly educational on how things work and doesn't provide financial advice. Some example tips would be "Here's how to swap Ada for another token on SundaeSwap" and "Be careful when selling on cnft.io, people might list their items for below floor - the lowest price an NFT asset class is selling for - but never send them when prompted to artificially lower the floor. This trickery lets them buy discounted assets as people list theirs for the new floor.". Tip content will be maintained through community curation and the project will be converted to a self-sustaining DAO once the tooling is available. Until then, our tip content will be audited by reputable community members/groups to ensure quality. Importance will be placed on creating a fair spread of tips for new and existing DeFi dApps throughout the ecosystem. Tips will be written in English and translated to the primary languages of the African nations with highest Cardano adoption over the next year.

Tip Genius originally launched for CSGO with great success, but the game developer blocked all third party apps not long after. The application is re-releasing for Valorant in the next few weeks - it's currently going through alpha/beta testing. Please DM me here or email me at [email protected] if you'd like to try it out, I'd love to get your feedback.

As the founder of Tip Genius, a first cohort Plutus pioneer, and blockchain enthusiast, I believe I could execute on this idea successfully - especially given the Tip Genius server-side architecture and UI visuals can easily be extended to support this use case.

Roadmap

In the next 0-3 Months

Tip Genius fully released for Valorant
Browser extension developer hired
Browser extension UI developed
Support for DeFi tips to the Tip Genius back end implemented
100+ tips created and audited
Browser extension beta tested

In the next 3-6 Months

Browser extension fully released with 100+ tips for 10+ projects
Continue adding tips as projects release and update

In the next 6-12 Months

Translate tips to 6 total languages
Transition Tip Genius browser extension into a self-sustaining DAO owned product

Auditability

App is released in 3-4 months
At least 100 tips are made in the first 3 months
At least 250 tips are made in the first 6 months
Tips are audited before addition to the Tip Genius knowledge base

Risks/Open Questions

What's the most fair mechanism for picking projects to make tips for?
Will this be able to reach a point of self sustainability before the tips run out? Would projects create or pay for tips to be created?
DAOs are currently in an experimental stage, what would be the best model for this project?

How would this help seed Cardano's Grassroots DeFi ?

I think this would impact every single goal of the category. By creating an experience unique to Cardano that provides a comfortable and enjoyable onboarding journey, DeFi on Cardano can rapidly accelerate in all aspects and new projects will be driven to launch on Cardano.

Funding breakdown

Browser extension client = 1 developer for 370 hours at $40/hr = $14800
Tip Genius server architecture modifications = 1 developer for 240 hours at $50/hr = $12000
Tips for 50 to 150 projects through the next year = 500 tips * $20 per tip = $10000
Tips translation to 5 languages = $7500
Tip audit costs = $4000
Hosting/Website/Administrative costs = $1500
Total = $49800

Community Reviews (1)

Comments

Monthly Reports

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We've made significant coding progress this past month. The base server side code has been fully written and the browser extension UI is well on it's way.

Disbursed to Date

$49,800

Proposal

Browser tool- How to use DeFi dApps

Status

Still in progress

Completion Target

6/1/2022

Comments 0

n/a

Disbursed to Date

$49,800

Proposal

Browser tool- How to use DeFi dApps

Status

Still in progress

Completion Target

12/15/2022

Comments 0

Tip Genius for Valorant has grown quickly to 10,000 DAU!

We are currently making sure we're familiar with how all the released and upcoming dApps function so we can provide the best advice to users through our browser extension. We've found a new developer to replace the former lead who had to leave.

Disbursed to Date

$49,800

Proposal

Browser tool- How to use DeFi dApps

Status

Still in progress

Completion Target

12/15/2022

Attachment(s)

Evidence 1

Comments 0

Disbursed to Date

$49,800

Proposal

Browser tool- How to use DeFi dApps

Status

Still in progress

Completion Target

3. In the next 6 months

Attachment(s)

Evidence 1

Comments 0

Disbursed to Date

$49,800

Proposal

Browser tool- How to use DeFi dApps

Status

Still in progress

Completion Target

3. In the next 6 months

Comments 0

Since the last report, Tip Genius for Valorant has grown substantially to 75k downloads. As part of this we've learned a lot about building, maintaining, and running massively scalable systems. These learnings will go a long way towards the expansion of the tool to Cardano DeFi.

Steady progress is being made towards the front end of the Cardano DeFi browser tool and now that the HFC has completed successfully, congrats IOG, we can begin the process of researching and creating tips for updated protocols.

Disbursed to Date

$49,800

Proposal

Browser tool- How to use DeFi dApps

Status

Still in progress

Completion Target

3. In the next 6 months

Comments 0

Since the last report, we made significant progress towards finishing the client application. The browser tool will now take dummy data and present it based on which website you're on. It'll also show a notification when the website you're on has available tips. It just needs finishing touches and to be connected to the back end. These will be focuses for next month.

Disbursed to Date

$49,800

Proposal

Browser tool- How to use DeFi dApps

Status

Still in progress

Completion Target

3. In the next 6 months

Comments 0

Since the last report, we hired a new front end developer and completed the front end of the browser extension! This has been hooked up to the server and is now in a state ready for testing. Our next focus will be on testing and finalizing the application, and then creating the tip content for our guided crypto experience.

Disbursed to Date

$49,800

Proposal

Browser tool- How to use DeFi dApps

Status

Still in progress

Completion Target

2. In the next 3 months

Attachment(s)

Evidence 1 Evidence 2

Comments 0

Over the last month, the finalized browser extension application has been tested manually in a search for edge cases. Some polishing touches were added. Research has also been done to determine which app should receive tips to start and we've started looking for content creators who can help create these tips.

Disbursed to Date

$49,800

Proposal

Browser tool- How to use DeFi dApps

Status

Still in progress

Completion Target

2. In the next 3 months

Attachment(s)

Evidence 1

Comments 0

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