Stellar Community Fund

By Kryptos

Enabling PMS, Accounting, Tax and other FinTech solutions to Stellar Ecosystem

SCF #30

$35.0K

Build

Awarded

Integrating Stellar Network and Ecosystem into Kryptos to help users and businesses to aggregate all their financial data and unlock access to an ecosystem of fintech applications and services built using the first-ever financial data standardization protocol in Web3.

Products & Services

We would like to integrate Stellar network data with Kryptos Financial Data Aggregation Engine. This includes the integration of APIs to fetch data related to Asset Balances, Full Historical Transactions, Payments, Orders, DeFi activity, Asset Prices etc.

By integration the above and standardizing the financial data, we unlock a lot of fintech applications and services including Portfolio management solutions, tax reporting, accounting, enterprise finance etc.

Soroban

Maybe in the future, but not in this submission

Requested Budget

$35.0K

Success Criteria

The success and impact of integrating Kryptos with the Stellar ecosystem can be seen in several tangible benefits that enhance the platform’s capabilities and user experience:

Comprehensive Financial Management: Kryptos introduces a full range of financial tools to Stellar, including advanced portfolio management, and crypto tax reporting, making it easier for users to manage their assets efficiently.
Global Compliance: Users across 30+ countries can now navigate crypto tax regulations effortlessly using Kryptos. This global reach ensures that users and businesses on Stellar can meet their tax obligations smoothly and reliably, wherever they are based.
Enhanced Business Tools: With integrations to popular ERP systems like Xero and Quickbooks, businesses on Stellar can seamlessly connect their crypto transactions to their broader financial operations. This integration simplifies accounting processes and enhances financial transparency.
Developer Empowerment: Kryptos provides developers with robust APIs and tools that streamline the creation of new financial applications on Stellar. This support fosters innovation and expands the variety of services available within the ecosystem.
Ecosystem Growth: By enhancing the financial capabilities available on Stellar, Kryptos helps attract a broader user base—from individual investors to large institutions—thereby growing the network’s participation and strengthening its market position.

In essence, Kryptos not only enriches the Stellar ecosystem with crucial financial and compliance tools but also opens up new possibilities for users and developers, driving the ecosystem’s expansion and enhancing its appeal as a comprehensive financial platform.

Go-To-Market Plan

1. Launch Phase:

Goal: Increase awareness and educate potential users.
Actions:
- Distribute informative articles and press releases.
- Conduct webinars and live demos.
- Collaborate with crypto influencers to reach a broader audience. 2. Engagement Phase:
Goal: Encourage trial and initial feedback.
Actions:
- Provide detailed guides and support to help new users get started.
- Implement a referral program to leverage word-of-mouth promotions. 3. Growth Phase:
Goal: Convert trial users to paying customers and expand user base.
Actions:
- Regularly release updates and new features based on user feedback.
- Showcase user success stories and the value provided by the platform. 4. Retention Phase:
Goal: Maintain user engagement and loyalty.
Actions:
- Offer discounts and exclusive access.
- Keep the community engaged with regular updates and insider news.
- Foster a user feedback loop for continuous improvement and community involvement.

Traction Evidence

You can check our socials and see that we have integrated many chains before and are backed by industry leaders. We also have more than 30k registered users on the platform with a monthly MAU of 10k from 20+ countries.

Tranche 1 (Deliverable Roadmap) - MVP

Deliverable 1: Initial API Integration and Data Setup

Brief Description: Establish the infrastructure and initial API connectivity with Stellar's Horizon API. This stage addresses the demand for comprehensive financial tools in the Stellar ecosystem by setting up foundational data aggregation for asset balances, transactions, and more.
Tasks:
1. Create test transaction data on the mainnet covering all operations and scenarios.
2. Set up infrastructure using full history service providers like Blockdameon or ValidationCloud or run a Horizon node.
3. Integrating the Horizon Account APIs - Asset Balances, Transactions, Orders, Payments, Claimable Balances, and Liquidity Pool Transactions, Assets data
4. Perform initial testing on the test account using PostMan to ensure all the data is being retrieved.
How to Measure Completion: Successful fetching and initial display of test data from the Stellar network.
Estimated Date of Completion: Week 2
Budget: 1 Senior Integration Developer, 30-50hrs of work - $125/hr ~ $6,000 [varies if we have to set up the node infra] Deliverable 2: Data Standardization and Preliminary Mapping
Brief Description: Begin mapping and standardizing fetched data to align with Kryptos data standards, focusing on ensuring data quality and completeness for accurate financial reporting.
Tasks:
1. Mapping of the response object with the Kryptos data standardization framework.
2. Fetch and integrate asset pricing data from oracles on-chain or using off-chain sources like CMC, CG, Cryptocompare, Defilama, etc.
3. Conduct on-chain asset mapping with the internal asset database.
4. Manual mapping of all the 26 operations supported in the Stellar ecosystem with appropriate standardized financial labels.
5. Mapping of DeFi platforms and any other financial platforms addresses for data richness
How to Measure Completion: Data is correctly formatted and integrated into Kryptos systems.
Estimated Date of Completion: Week 4
Budget: ~$9000
1. 1 Senior Integration Developer (30-40hrs @$125/hr - ~$4500)
2. 1 Backend Developer – (30-40hrs @$125/hr - ~$4500)

Tranche 2 (Deliverable Roadmap) - Testnet

Deliverable 3: Integration Testing and User Testing

Brief Description: Extensive testing of the integration in a testnet environment to ensure reliability and accuracy of the data integration, preparing for public release.
Tasks:
1. Develop unit test cases for the integration.
2. Implement automatic checks for monitoring integration uptime.
3. Data validation by comparing the response from APIs with explorer/on-chain data. Validating balances, transaction counts etc.
4. Push integration to developer environment for QA testing - Functional testing of the integration flow and validating the data.
How to Measure Completion: Integration passes all tests without errors and matches expected outcomes.
Estimated Date of Completion: Week 5-6
Budget: ~$5000
1. 1 Senior Integration Developer (15-20hrs of work @$125/hr ~ $2500)
2. 1 QA Tester (20-25hrs @$80/hr ~ $2500)

Tranche 3 (Deliverable Roadmap) - Mainnet

Deliverable 4: Production Launch and Marketing Rollout

Brief Description: Launch the fully tested and validated integration on the mainnet, accompanied by a comprehensive marketing strategy to maximize user adoption and engagement.
Tasks:
1. Push the fully tested integration to production.
2. Final QA validations across all product lines including B2C, Enterprise, CPA and Developer API products.
3. Enable the full feature suite for Stellar ecosystem users covering - Crypto Tax reporting in 30+ countries, Accounting and Bookkeeping Solutions for Enterprises, Financial reporting and integrations to ERP solutions like Xero, Quickbooks, etc.
4. Create and distribute marketing materials such as guides, videos, and announcements.
5. Conduct marketing campaigns, including email newsletters, social media announcements, press release and push notifications to drive adoption.
How to Measure Completion: Successful deployment on the mainnet with active user interaction and positive feedback.
Estimated Date of Completion: Week 8
Budget: ~$15000
1. 1 QA tester – 10-15hrs @$80/hr ~ $1000
2. 1 Product Marketing Lead – 5-10hrs @$100/hr ~$500
3. 1 Social Media Lead – 10-15hrs @$80/hr ~$1000
4. 1 Graphic Designer – 10-15hrs @$50/hr ~$750
5. 1 Content Creator (video, guides, pr, social posts, blogs, newsletters) – 30-40hrs @$50/hr ~ $2000
6. Marketing distribution costs (PR, KOLs, Discount Campaigns) - $2500
7. Future infra and maintenance costs - $7500

Team

We are a team of 23 individuals, around 70% of the team is tech and the remaining works with marketing, branding, and design. The Founder and CEO is a 3x Founder and is also one of the Co-Founder of Telos Blockchain Network, which is currently valued at $100m MCap.