Problem Statement:

Web3 enterprises face challenges in efficiently managing their financial transactions, particularly in the realm of automatic payments from treasury grants. These payments lack proper receipts, making it cumbersome to track the timing and corresponding fiat values of each transaction. The delays in receiving treasury funds further complicate matters, as they expose projects to potential gains and losses that are difficult to accurately compute. Consequently, there is a pressing need for a user-friendly solution that enables swift verification of financial positions, especially for projects reliant on budgetary allocations from treasury grants.

Solution:

Our proposed solution entails the creation of an intuitive and accessible accounting dashboard tailored for participants in the Polkadot ecosystem. This dashboard will empower users to effortlessly access their transaction records, facilitating data export capabilities. Furthermore, it will provide a clear overview of gains and losses incurred between the grant approval and receipt stages. By merging DeStore Network's expertise in Direct to Customer Sales (DTC) with AEM Algorithm's crypto accounting proficiency, this collaborative effort aims to deliver a comprehensive resolution to the aforementioned financial friction points.

About us:

AEM Algorithm specializes in crypto accounting solutions that streamline accounting processes for web3 platforms. Our flagship application, AEM Journaler, earned the distinction of being the first crypto accounting app available on the Xero marketplace in 2021. It has since been integrated with Quickbooks and is actively utilized across multiple blockchain networks, including Polkadot, Astar, and Kusama. For more information, please visit www.aemalgorithm.io.

DeStore Network:

DeStore Network is a technology service provider that facilitates convenient and secure Direct To Customer sales, by merging hybrid products and payment data via blockchain-based Digital Twins. DeStore Networks' goal is to elevate both commerce and user experiences for brands and shoppers entering web3.

MVP: destore.network

Phase 1 (Primary Proposal) R&D / Mockup:

Total Budget: $20,000 USD Funding Source: Kusama Treasury

Scope Overview:

Phase 1 aims to lay the foundation for the user-friendly accounting dashboard by creating a comprehensive mockup and basic user interface that will serve as a basis for further development. The scope encompasses several key technical aspects to ensure the usability and effectiveness of the proposed solution.

1. User Interface Design:
   Detailed user interface (UI) design will be undertaken based on a deep understanding of the user's requirements and pain points. A visually appealing and intuitive design will be developed, enabling users to effortlessly interact with the accounting dashboard.

2. Transaction History Display:
   The dashboard will provide a clear and organized display of transaction history for users. This will include various filtering and sorting options to enhance user experience, enabling users to view transactions according to different parameters such as date, value, and source.

3. Real-time Fiat Conversions:
   Integration with real-time fiat conversion APIs will enable the automatic calculation of fiat values for each transaction. Users will be able to view the equivalent fiat value at the time of the transaction, enhancing transparency and financial accuracy.

4. Data Export Functionality:
   The dashboard will incorporate a robust data export feature that allows users to extract their transaction history in various formats such as CSV or Excel. This functionality is crucial for users who require transaction data for further analysis and reporting.

5. Multi-Ecosystem Integration:
   The initial focus of the dashboard will be on the Polkadot and Kusama ecosystems. The technical implementation will involve integrating with the respective blockchain networks to retrieve and display accurate transaction data.

6. User Feedback Integration:
   To ensure usability and address user needs, a mechanism for collecting user feedback will be integrated within the dashboard. This feedback loop will be crucial for iterative improvements in subsequent phases.

7. Usability Testing:
   The developed mockup and user interface will undergo thorough usability testing. This process involves inviting potential users to interact with the dashboard, gathering insights, and identifying areas for enhancement.

8. Technical Feasibility Assessment:
   Throughout Phase 1, a technical feasibility assessment will be conducted to ensure that the envisioned features and functionalities align with the capabilities of the chosen technology stack and the blockchain ecosystems.

Expected Deliverables:

By the end of Phase 1, the following deliverables will be achieved:

• Fully designed user interface mockup with a focus on intuitive navigation and aesthetics.
• Functional prototype showcasing transaction history, real-time fiat conversions, and data export capabilities.
• Insights from user feedback and usability testing to guide future improvements.
• Detailed technical feasibility assessment outlining the compatibility of features with the chosen technology and ecosystems.

This comprehensive technical scope for Phase 1 will form the basis for a robust and user-centric accounting dashboard that addresses the challenges faced by web3 enterprises, facilitating efficient management of financial transactions.

Phase 2 (Secondary Proposal):

Total Budget: To be determined (TBD)

USD Funding Source: Polkadot Treasury

Objective: Minimum Viable Product (MVP)

Development (Application for a substantial grant to support ecosystem infrastructure)

Anticipated Outcome:

Strategic expansion of the solution to main Polkadot and Kusama parachains, driven by insights gathered during Phase 1. The project will encompass building cloud infrastructure with hosting services, refining the user interface, and extending the Polkadot User Accounting Dashboard based on the Proof of Concept (PoC). Additionally, a supplementary dashboard for Treasury will be introduced, simplifying the automatic population of accounting data. The integration with AEM Journaler will enable users to seamlessly transmit their data to Xero, Quickbooks, or download invoices.