Managing a well-diversified portfolio of investments in different ecosystems can be time consuming and risky.
The idea is to create a cross-chain index that represents the value of the Cardano ecosystem, in a very accurate way, and is available on other blockchains, for users to get directly from their regular native wallets.
To achieve the goal, the team intends to create a multi-chain decentralized protocol, whose smart contracts will run on Cardano with a one-click token that will bind to host chains such as Ethereum and Polygon.
MAYZ will be a decentralized finance protocol, which aims to simplify the challenges of managing a well-diversified portfolio in a rapidly evolving ecosystem, and provide Cardano exposure to a wide range of different investors.
This type of cross-chain infrastructure allows the protocol to provide more accessible services. For example, Ethereum users will no longer have to set up a Cardano wallet to invest in the Cardano ecosystem.
What does MAYZ mean?
I was curious about its name and asked the developers. They told me that it is a mixture of the figure of Mayz solutions, which sounds like Maze, and also because “MAIZ” is corn in Spanish, one of the bases of the world’s nutritional pyramid.
Cardano Index Token
The Cardano Index Token will be managed by a set of smart contracts on the Cardano blockchain. You will receive and withdraw funds, buy and sell assets, and mint and burn the Cardano Index tokens. Each token in the index will represent a fraction of a basket of Cardano tokens, meaning your investment is diversified, and the value will grow or shrink in line with the value of the index as a whole.
Cross-chain Investment
Smart contracts will be built on the host chains, which will interact with existing bridges, to enable the purchase of tokens. For example, an Ethereum investor will be able to buy tokens indexed on the Ethereum network using $ETH, while smart contracts will handle the buying, bridging, and minting. On the other hand, the Ethereum investor can sell their token and receive $ETH in return, without the need to worry about merging and selling multiple tokens.
The team has been working with Life Network on branding, the first version of the Technical Whitepaper, and the first version of the website (see The Roadmap).
The proposal seeks to:
- Provide a diversified portfolio of Cardano assets that represent the wealth creation process in Cardano
- Provide exposure to non-Cardano investors, such as cryptocurrency investors unfamiliar with the Cardano ecosystem and even investors who are not are from the cryptocurrency space
- Simplifying the challenges of managing a well-diversified portfolio in a rapidly evolving ecosystem.
- Promote Cardano to attract users and funds from other blockchains, thus creating an “Excosystem”.
- Develop new technical implementations that connect Cardano to other blockchains and vice versa (Software Development Kit -SDK, API, bridges, etc.)
Here are the following risks that could prevent the successful delivery of this phase of the project, and their solutions:
— Oracles : The solution needs trusted oracles to provide the most accurate value for each asset. To mitigate this risk, they plan to develop their own and also collaborate with teams that are already working on this effort.
— Bridges: the entire project is based on third-party bridges; there is a strong dependency there. To mitigate this risk, the team works in parallel on both paths: developing its own and using already developed bridges.
— Plutus: Although the product is being developed on other chains, much of the effort will be done on Cardano. To achieve this, the team needs the experience of Haskell/Plutus developers, which is not easy to find in the market. To mitigate this risk, they are in talks with important developers in the ecosystem, such as MLabs.
The Roadmap
Q2 2022 – Friend and Family Sale – Complete
Gather the first 100,000 ADA destined to the development of the first version of the white paper, branding, Website and ISPO.
Q2 2022 – Branding – In Progress
Project Branding developed by the LifeNetworkTeam.
Q2 2022 – Whitepaper Release – In Progress Mayz Whitepaper V0.1
Whitepaper being developed by the Life Network Team and the Cardano Index Project Team.
Q2 2022 – Official Website – In Progress https://mayz.io
Website being developed by the LifeNetworkTeam.
Q2 2022 – ISPO Launch – In Progress
ISPO is being developed by the LifeNetworkTeam.
Q4 2022 – Proof of Concept & Market fit – Pending (Project Catalyst Proposal)
MVP. Basic Index representing the Cardano ecosystem on ERC20 blockchain.
Q1 2023 – Marketing Strategy – Pending (Project Catalyst Proposal)
Go-To Market: Image Content, Social Media Plan, Blog Post, Medium – Setup.
Q1 2023 – Open Sale – TBD
will be used to track the progress of the project:
Financial
- AUM = Asset Under Management: 2,000,000 ADA
- Number of token Under Management: 20 TOKENS
- Liquidity on Secondary Market: 250,000 ADA (TVL)
- Number of address (holders of Governance token): 500
- Mint Lead Time (average & deviation): 5′
- Burn Lead Time (average & deviation): 10′
Project Management
- Smart Contract V1 deployment
- Bridge Integration
- External Audit
Success will be determined by:
- The amount of addresses on EVM-compatible networks, to hold, exchange, mint and burn tokens, which represent a basket of assets of the Cardano ecosystem, for the first time.
- Greater adoption of Cardano promoted by this index application, attracting users and investors from other blockchains, being able to facilitate the onboarding of people and companies from all over the world to Cardano, making the process easy, fast, secure and with low rates.
The Budget
The budget of this proposal covers 4 months of development and marketing efforts, from the end of 2022 to the first quarter of 2023.
With these funds, the team plans to cover the development of a Minimum Viable Product (MVP). If the product is accepted by the community, the team will request more funds in the next rounds, to evolve it.
The following development areas are identified for this MVP:
- Smart Contracts (*): USD 30,600
- Bridges/Oracles: USD 23,400
- Marketing: USD 11,000
Total requested USD 65,000
(*) Smart contracts will go through an External Audit at a later stage.
The Team
The team is made up of the founders of RatsDAO and ALDEA and the creators of the Podcast in Spanish “Bitcoin Para Todos”.
- Diego Torres – CEO. Corporate financial expert with many years of experience in both the private sector and the academic environment. LinkedIn
- Matías Falcone – CTO. SPO of Falcon Cardano Stakepool, awarded with IOG (2021) and Cardano Foundation (2022) delegations. Founder of ALDEA. Backend Developer at GameChanger Wallet. LinkedIn
- Agustin Franchella – CMO. Founder of Rats DAO and active member of Cardano NFTs community. LinkedIn
- Federico Ledesma Calatayud – PM. Business Manager with experience in crypto since 2013. SPO of 1MATE. LinkedIn
- Alfred Vilsmeier – Developer. SPO of [TOPO⚡] and [WHITE] Cardano Stakepools. LinkedIn
- Rodrigo Molina Dacaret – Developer. Gitbook
- Robert Van Horne – Asset Management Analyst: LinkedIn
Website: https://mayz.io
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You can read the original proposal on Catalyst: MAYZ: Cardano Cross-Chain Index
