Please describe your proposed solution
The solution in a single paragraph:
Cassandra is a new user on Cardano and just created her first wallet after receiving an onboarding QR code at local Blockchain event. The wallet guided her through the process of staking her ADA to a Stakepool and signing up for "Reach Your People", where she also connected her Facebook account and verified her phone number. A few days later, Cassandra even delegated her ADA to a dRep who shares her vision of a decentralized future. Within the first two weeks on chain, she gets an invite on Facebook from her Stakepool operator to a virtual event where all the delegators connect with each other, and a text message with a link to a governance proposal her dRep just voted on. She was also sent a link to a holder-only raffle by a mysterious dog, since her wallet came with a few million $HOSKY. Cassandra did not need to follow a single social media account or join any Discord, to get all this information, because she is using RYP*.*
On the foundation of our Fund 10 proposal "Reach Your People", which was our prototype implementation for NFT and FT-projects that can now reach out to their holders without having any of their social media or messaging info, we will build out our initial solution to a full product.
Our current platform requires projects to explicitly send announcements, which is great for project-to-community communication. However, on a public blockchain, there are more entities than projects with tokens, and many activities can be automatically discovered and communicated to end users, because it is relevant to them. This can include activities of their stakepools, like changes in fees, or pools retiring, as well as governance activities like dReps voting or becoming inactive, and even blockchain-wide events like hard forks or parameter changes.
All of these commonly happen without the users knowledge, and while not everyone may care about a hard fork, most users will want to learn when their stakepool stops producing rewards for any reason or their dRep votes for unexpected things. RYP will fill this gap by listening to on-chain events and communicating them to end users that have their wallets connected.
In addition to automatically being subscribed, the service also offers the ability to mute events that are not relevant to them, and to do that easily across multiple connected wallets. The notification choices are also up to the consumer, letting them choose more time-sensitive events to be sent for example via text message, but just getting an email or Discord notification for less important announcements.
Next to the on-chain events, we will look to implement the verification processes for dReps and SPOs, to allow them to publish announcements, surveys and other communications in a manner that is verified, secure and trusted by the recipients.
We will also work with wallet providers to allow easier onboarding during the initial wallet creation or restoration process, either via authorization flows or API calls, making sure that any new users can stay in the know.
Some example automated on-chain events we may build and support (non exhaustive list):
- Transactions in your wallets
- Actions by dReps
- Votes on proposals
- Inactivity
- Deregistration
- Actions by Stakepools
- Zero block epochs
- Retirement
- Fee changes
- Epoch Blockchain wide summaries
- Epoch Staking summaries
- External stake contribution (if someone stakes ADA they own with your staking address)