Milestone 01

Overview

This milestone focuses on addressing liquidity challenges within the Cardano ecosystem by laying the groundwork for a trustless OTC solution. The milestone involves conducting research, drafting project plans, and creating initial technical documentation to outline the basic architecture and applications of the proposed solution.

Links

• Milestone Definition: Milestone 01

• Research Report on Liquidity Challenges: Report

• Main README: Main README

Objectives

• Research and Analysis: Conduct a comprehensive study on liquidity issues in Cardano, detailing the challenges faced by large volume trades on DEXs.

• Project Plan Document: Create a detailed public document outlining the project's objectives, scope, timeline, and deliverables.

• Initial Functional Documentation: Develop preliminary documentation that describes the Trustless OTC Smart Contract's concept, including its basic architecture.

• Use Cases and Benefits: Outline potential applications of the smart contracts within the Cardano ecosystem.

Achievements

1. Completed and published a comprehensive research report on liquidity challenges in the Cardano ecosystem, highlighting key issues and proposing potential solutions.

2. Drafted a detailed project plan document, providing a clear roadmap for the development and implementation of the OTC solution.

3. Prepared initial functional documentation of the smart contracts, outlining the basic architecture and describing how the OTC mechanism will operate at a high level.

4. Documented use cases and benefits in the main README, detailing how the solution addresses specific liquidity challenges for different user groups.

Clarifications on Milestone 1 Scope

As per Milestone 1 requirements, we have provided a basic overview of the protocol architecture. This includes:

• An outline of the main components: Token Locking Contract, NFT Minting Contract, and Redemption Contract.

• A high-level description of the OTC token flow: locking, minting, trading, and redemption.

• Basic information on datum structure and its role in the OTC process.

• Detailed smart contract functions, including specific input parameters, outputs, and state changes, will be elaborated in Milestone 2.

Next Steps

• Refine the functional documentation with more detailed architecture and flow diagrams.

• Begin the detailed design phase, preparing for the implementation of core OTC smart contract functionalities.

• Address any additional feedback from Catalyst reviewers to ensure alignment with project goals and community expectations.

Note to Reviewers

We appreciate your thorough review and feedback. We acknowledge that some aspects of the smart contract implementation details were not fully elaborated in this milestone, as our focus was on establishing the foundational research and high-level architecture. The upcoming milestones will delve deeper into the technical specifics.

For any questions or clarifications, please refer to our main README or contact our team through the provided channels.