E Money Network Can Add Tremendous Value to the Cardano Ecosystem - Check out our Proposal!

We’re thrilled to share that we have shared our proposal with Project Catalyst to avail a grant for contributing to the Cardano ecosystem. Cardano is among the leading blockchain networks in the world, with ADA, Cardano’s native cryptocurrency, ranking among the top 10 cryptocurrencies on CoinMarketCap. Cardano’s proof-of-stake blockchain platform combines pioneering technologies to provide unparalleled security and sustainability to decentralised applications, systems, and societies.

Project Catalyst is Cardano's revolutionary innovation engine and one of the world's most prominent decentralised grant funds. Project Catalyst is a major driver for the growth of the Cardano ecosystem as it connects projects with promising ideas to a funding source. The ideas are vetted and voted for by the Cardano community, and spearheaded by the Cardano treasury.

E Money Network’s Grant Proposal

We believe that E Money Network can add tremendous value to the Cardano ecosystem by integrating a compliant, multi-chain wallet, reducing compliance costs for Cardano dApps by enabling seamless KYC/AML solutions for them and simplifying fiat-crypto on-off ramping powered by regulated eEUR support.

E Money Network has a proven track record of building compliant and scalable blockchain solutions. Our infrastructure has already attracted significant engagement on our testnet, demonstrated by 80,000+ unique wallets, $70M in transaction volume, and 10,000+ TPS. These metrics highlight E Money Network’s ability to handle high transaction volumes securely. E Money Network’s team consists of experienced blockchain developers, compliance specialists, and project managers with deep expertise in multi-chain integration, DeFi, and regulated financial services.

By integrating E Money Network’s suite of ecosystem products, Cardano dApps and users can benefit from a more accessible, compliant, and cross-chain-enabled blockchain environment. E Money Wallet - our network’s native Web3 wallet will ensure that every user accessing the Cardano ecosystem through it undergoes mandatory KYC verification. The integration of our 1:1 pegged eEUR stablecoin also brings a unique financial tool to Cardano as the first EUR-pegged stablecoin on the chain. Furthermore, broadening accessibility and strengthening compliance makes Cardano an even more attractive choice for new decentralised finance (DeFi) and real-world applications.

Key Milestones to Measure the Project proposal success

We have shared a list of key milestones that will enable the communities of both the blockchain platforms to measure the success of the collaboration. We have briefly outlined those milestones here.

Milestone 1: Cardano Chain Integration Setup

Timeline: 1 Month

Objective: Establish the foundational technical and infrastructure setup required to integrate the Cardano blockchain into the E Money Network wallet.

Milestone 2: eEUR Stablecoin Bridging to Cardano

Timeline: 2 Months

Objective: Develop and deploy a secure bridge to bring eEUR, the 1:1 pegged MiCA-compliant EUR stablecoin, to the Cardano blockchain, making it the first EUR-pegged stablecoin on Cardano.

Milestone 3: Wallet Integration for Cardano dApps and Compliance Services

Timeline: 1 Month

Objective: Enable Cardano dApps to integrate with E Money Wallet, granting them access to compliance tools (KYC/AML) and providing a seamless, compliant infrastructure for enhanced dApp functionality.

Milestone 4: Mainnet Deployment and Community Onboarding

Timeline: 1.5 Months

Objective: Deploy Cardano support and eEUR stablecoin on E Money Network’s mainnet, and onboard the Cardano community, including developers and users, through education and support initiatives.

Milestone 5: Project Close-out and Reporting

Timeline: 1 Month

Objective: Finalize the project by delivering a comprehensive project report, documenting outcomes, and creating a close-out video to demonstrate the impact of the integration on the Cardano ecosystem.

Expected Cost Breakdown of the Proposed Work and Resources

After carefully calculating the expected cost of the proposed work, we have arrived at the figure of 2 million ADA to complete the project successfully. This budget outlines the key resources, third-party services, and internal costs associated with each milestone. We expect the project duration to be between 4 months to 6 months.

Following is a summarised version of the cost breakdown.

Milestone 1: Cardano Chain Integration Setup (400,000 ADA)

This includes costs related to development resources such as blockchain developers, security and testing, documentation and technical resources, project management and overhead costs such as licence applications, tool subscriptions, etc.

Milestone 2: eEUR Stablecoin Bridging to Cardano (500,000 ADA)

This includes costs related to development and bridge engineering, compliance and legal, testing and quality assurance, development and support, infrastructure and tools, and project management.

Milestone 3: Wallet Integration for Cardano dApps and Compliance Services (500,000 ADA)

This includes costs related to development for dApp integration, compliance API setup, technical documentation and SDK development, community engagement and project management and operational costs.

Milestone 4: Mainnet Deployment and Community Onboarding (600,000 ADA)

This includes costs related to deployment and monitoring, community engagement and education, content creation, support staff, security & audit for mainnet launch, project management and operational expenses.

Milestone 5: Project Close-out and Reporting (Final Report and Community Video) (100,000 ADA)

This includes costs related to Close-out report and analysis, video production, reporting and community sharing and project management.

The budget also includes costs for conducting regular compliance audits, developer support and workshops, and marketing and community engagement.

How Can You Help?

This grant proposal is aligned with E Money Network’s mission of fostering compliant growth in the blockchain space and blurring the differences between the crypto economy and mainstream economy.

You can help us win this grant by voting for us on Project Catalyst. To gain a deeper understanding of our proposal, check out this link - https://cardano.ideascale.com/c/cardano/idea/134588.

As a community, you can help us win by

• Registering your account on https://projectcatalyst.io/. Verify your account and login in to start.

• Support our proposal, proposal link - https://cardano.ideascale.com/c/cardano/idea/134588 by clapping (as shown in the image). The more the claps, the higher our chances of winning. So, go clap!

- Like and comment at the end of the proposal as well

We will keep you updated on the progress of our grant proposal. Stay tuned!