LedgerSync is an open-source infrastructure project designed to dramatically improve the quality of financial data available on the Cardano blockchain. By addressing long-standing limitations of the UTXO model for accounting and tax reporting, LedgerSync will make it possible for Cardano-based projects to generate audit-ready transaction records, wallet-level balance histories, and clear from-to transaction flows.

Today, projects on Cardano face major hurdles when attempting to comply with regulatory standards or prepare financial reports, including the inability to retrieve historical wallet balances or accurately match transaction inputs and outputs. These issues prevent founders, DAOs, and enterprises from filing taxes, conducting audits, or producing standard financial statements — limiting both adoption and trust.

LedgerSync solves this by providing:

A transaction-matching engine that reconstructs from/to relationships in UTXO flows

A balance snapshot service for querying wallet states at specific dates or block heights

Export-ready ledger formats aligned with accounting and tax standards

A hosted API and open developer tools for integration

This proposal aligns with Intersect’s mission to support infrastructure that empowers real-world use and transparent governance. By building the foundation for financial integrity on Cardano, LedgerSync helps unlock the next stage of adoption for mission-driven builders, institutions, and regulators.

While Cardano’s eUTXO (Extended Unspent Transaction Output) model provides advantages in scalability, determinism, and smart contract design, it presents significant challenges for financial reporting, accounting, and tax compliance — especially when compared to account-based chains like Ethereum.

Projects building on Cardano struggle with the following key limitations:

Inability to retrieve historical wallet balances: Unlike account-based chains, there is no native way to query an accurate wallet balance at a specific point in time. This creates major gaps in reporting for end-of-month, end-of-year, or audit-specific balance sheets.

Lack of "from" and "to" clarity in transactions: The UTXO model treats transactions as a set of inputs and outputs without a clear indication of sender and receiver. This makes it difficult to trace value flows, identify counterparties, and generate standard financial statements or tax filings.

Difficulty in matching transaction pairs: Inputs and outputs are not inherently linked in a way that reflects economic reality (e.g., payments, receipts, transfers), making it nearly impossible to automate reconciliation or generate ledger-style accounting records.

Incomplete or inconsistent data in existing indexers: Tools like Cardano DB-Sync or Koios provide foundational access to on-chain data but often fall short for financial-grade applications. Important metadata is missing, data normalization is lacking, and no tooling exists to translate UTXO data into formats compatible with traditional accounting systems.

These issues compound as projects scale, resulting in manual reconciliation efforts, inconsistent records, and compliance risk. For companies and DAOs that must prepare financial statements or file taxes in jurisdictions with strict reporting standards, Cardano’s current data layer is a significant operational burden.

By contrast, EVM-based chains benefit from account-based models with well-structured transaction logs, event tracking, and state-based snapshots — making financial data extraction relatively straightforward.

To unlock institutional adoption and improve regulatory readiness for the Cardano ecosystem, a focused effort is needed to bridge the data gap between UTXO architecture and financial reporting standards.

Intersect’s mission is to steward the long-term development, resilience, and adoption of the Cardano ecosystem through community-driven governance and strategic infrastructure investments. This proposal directly advances that mission by addressing a foundational gap in the ecosystem’s data infrastructure: the lack of reliable, financial-grade data from the Cardano blockchain.

Why This Matters to Intersect Enabling Regulatory Readiness: As more real-world use cases emerge, particularly in finance, climate tech, and public goods funding, the ability to comply with jurisdictional tax and reporting requirements becomes critical. By supporting this proposal, Intersect ensures that Cardano can meet the standards expected by institutional users, governments, and enterprises.

Strengthening the Ecosystem’s Foundations: The Intersect community is investing in tooling that will stand the test of time. High-integrity financial data is a prerequisite for DAOs, grant-funded initiatives, and long-term project sustainability. This proposal lays the groundwork for robust, auditable accounting across all layers of the ecosystem.

Fostering Inclusive Participation: Many small- to medium-sized projects on Cardano lack the internal resources to build custom accounting infrastructure. This initiative democratizes access to reliable ledger tools, enabling more diverse participants to grow responsibly and compliantly.

Aligning with Intersect’s Goals for Open Source and Modularity: This project is fully open source and modular, contributing to Cardano's public infrastructure and giving future developers the ability to build new services, dashboards, and reporting tools on top of a shared accounting layer.

Why This Matters to the Cardano Chain Bridges a Core Limitation of the UTXO Model: While the UTXO model is superior in many ways, it was not designed for easy financial traceability. This proposal introduces the interpretive layer needed to make Cardano data as usable as EVM data — without changing the protocol.

Increases Network Stickiness and Developer Retention: When financial tooling is difficult or unreliable, projects migrate to other chains. By solving this friction point, Cardano becomes a more attractive long-term home for founders and developers.

Supports Real-World Utility and Mission-Driven Projects: Cardano is increasingly the chain of choice for impact-focused, real-world projects. These organizations must report transparently to funders, governments, and communities — and need reliable data to do so.

This proposal is not just about fixing accounting; it’s about enabling trust, transparency, and professionalism across the entire Cardano ecosystem — which is at the heart of what Intersect and Cardano aim to achieve.

The LedgerSync project is structured around clear, incremental milestones that deliver immediate utility to Cardano developers, treasuries, and service providers. Each milestone will be publicly reported and open-sourced to ensure transparency and community benefit.

✅ Milestone 1: System Design & Infrastructure Setup Timeline: Month 1 Deliverables:

Technical architecture documentation (indexing layer, wallet balance engine, export modules)

Deployment of a self-hosted Cardano node with DB-Sync, Ogmios/Kupo stack

Public repository initialized with roadmap and issue tracker Community Benefit: Ensures transparency from the start and enables early collaboration from developers who wish to extend or embed LedgerSync functionality.

✅ Milestone 2: Ledger Reconstructor & Transaction Normalization Engine Timeline: Month 2 Deliverables:

Working prototype that reconstructs “from-to” transaction logic from UTXO flows

Normalized transaction objects including inferred sender/recipient tags

CLI tool and API endpoint to fetch structured transaction histories by wallet Community Benefit: Enables projects to automate reconciliation and export transactions in a format compatible with accounting and tax tools.

✅ Milestone 3: Historical Wallet Balance Snapshot Service Timeline: Month 3 Deliverables:

Indexer module that reconstructs wallet balances at arbitrary block heights or dates

API endpoint for querying historical wallet states

Public documentation and test suite Community Benefit: Unlocks a critical feature currently missing from UTXO chains — retroactive balance reporting for tax audits, monthly closing, and investor reports.

✅ Milestone 4: Accounting Export Formats + Public Dashboard (MVP) Timeline: Month 4 Deliverables:

Export modules for CSV, Excel, and journal-style ledger formats (GAAP/IFRS-aligned)

Hosted web dashboard (LedgerSync.app) with wallet lookup, balance views, and export tools

Tutorials, demo videos, and user documentation Community Benefit: Delivers a fully usable tool that anyone in the ecosystem — from DAOs to accountants — can use to generate audit-friendly financial records.

🎯 Ongoing Community Deliverables (Post-Launch) Maintained public GitHub repo under MIT license

Open APIs with 12-month uptime guarantee (free tier)

Engagement with Intersect committees to co-design roadmap

Community calls or workshops to onboard users and gather feedback

Ultimate Community Value At the conclusion of this project, the Cardano community will receive a fully open-source, production-ready toolkit for transforming raw UTXO data into structured financial records. This unlocks:

Accounting automation for dApps, DAOs, and treasuries

Tax and audit compliance for real-world deployment

Infrastructure that accelerates institutional adoption

By solving a critical data layer problem, LedgerSync positions Cardano to become a chain of choice for transparent, auditable, and financially sound projects.

Total Requested: ₳175,000 (~$124,000 USD) Project Duration: 4 Months

Category Cost (USD) Cost (ADA) Notes

🧠 Core Development Team $76,000 ₳107,300 Two backend developers + one frontend/devops (contract rate ~$6,300/month/person)

🧱 Technical Lead / Architect $18,000 ₳25,400 Lead developer overseeing architecture and UTXO logic (full-time for 4 months)

📊 Accounting/Compliance Expert $6,000 ₳8,460 Part-time domain expert guiding financial reporting logic, exports, and compliance features

☁️ Infrastructure & Hosting $6,000 ₳8,460 Cloud services for Cardano node, indexers, database, API server, dashboard hosting

📚 Documentation & Community Support $5,000 ₳7,050 Tutorials, onboarding guides, issue management, support channels (Discourse, GitHub, etc.)

🔒 QA & Testing $4,000 ₳5,640 Manual and automated testing, ledger integrity validation, potential external peer review

📈 Public API Maintenance (12mo) $7,000 ₳9,870 SLA-based support, uptime monitoring, minor updates & bug fixes post-launch

🎤 Community Workshops & Feedback $2,000 ₳2,820 Developer demos, feedback sessions, and Intersect community engagement events

Total: USD: ~$124,000 ADA: ~₳175,000

Optional Stretch Goal (Separate Proposal or Co-Funding)

If additional funding is available or co-sponsored, we could extend the project to include:

Accounting plug-ins for QuickBooks, Xero, or Zoho

Deeper integration with DAO tooling or treasury platforms

Regulatory reporting templates for EU, US, or APAC tax systems

To deliver the full scope of the LedgerSync project within a 4-month period, we propose a focused and experienced team of 4–5 core contributors, combining deep technical expertise in blockchain data infrastructure with financial and accounting domain knowledge.

Core Team Composition 🧠 1 Technical Lead / Solution Architect (Full-time) Responsible for overall system architecture, indexing layer design, and transaction matching logic.

Leads code reviews and integration with DB-Sync, Ogmios, and related tools.

💻 2 Backend Developers (Full-time) Build the transaction normalization engine, wallet balance snapshot service, and accounting export modules.

Handle performance optimization, data consistency, and unit testing.

🌐 1 Frontend & DevOps Engineer (Part-time) Develops and deploys the LedgerSync dashboard (wallet views, export interface).

Manages hosting infrastructure, CI/CD pipelines, and API availability.

📊 1 Accounting/Tax Domain Expert (Part-time) Provides guidance on data formats, ledger structures, and regulatory requirements (GAAP/IFRS).

Validates outputs to ensure they meet financial audit standards and tax compliance needs.

Estimated Duration: 4 Months

Month Key Activities Month 1 Finalize system design, set up full node and indexers, initiate GitHub repo and documentation. Month 2 Build and test the UTXO transaction normalizer, implement CLI/API for structured transaction data. Month 3 Develop wallet balance snapshot module and integrate with the indexing layer. Month 4 Build export modules, develop the public dashboard, write documentation, launch hosted MVP. Sustainability Post-Launch A smaller core team (2–3 members) will be retained part-time to maintain the API, respond to community issues, and push updates.

Community contributors will be onboarded through open issues, bounties, and roadmap discussions to foster decentralized maintenance.

This lean, multidisciplinary team ensures the project remains agile, focused, and cost-effective — while delivering a high-impact, production-grade result to the Cardano ecosystem within a clear and realistic timeframe.

ur team brings deep, real-world experience at the intersection of blockchain infrastructure, accounting automation, and financial compliance — uniquely positioning us to deliver this proposal for the Cardano ecosystem.

🧾 Breezing: Crypto Subledger & Accounting Automation Tool We are the creators of Breezing, a crypto-native subledger that:

Pulls and normalizes on-chain data from various blockchains

Structures transactions into journal-ready records for Xero, QuickBooks, and custom ERP systems

Supports crypto-native bookkeeping, including cost basis tracking, gain/loss calculations, token vesting, and treasury reconciliation

Enables accurate, auditable financial reporting and tax filing

Breezing is actively used by projects deeply embedded in the Cardano ecosystem, including:

SingularityNET

SingularityDAO

APEX Fusion

And other high-volume token and treasury operators

These clients rely on our tooling to maintain clean, audit-ready financial records and fulfill local tax obligations — often across multiple jurisdictions.

🧠 Technical Expertise in Blockchain Infrastructure Our team has extensive experience working with:

Blockchain indexers (DB-Sync, The Graph, custom RPC interfaces)

Wallet-level transaction parsers and UTXO-based flow mapping

High-availability APIs and DevOps pipelines to maintain production-grade data services

We are particularly attuned to the unique structure and challenges of the UTXO model, having worked with multiple chains beyond EVM — and we’re confident in our ability to bring EVM-grade data quality to Cardano.

🤝 Ecosystem Alignment We’ve collaborated with DAOs, DeFi protocols, NFT platforms, and treasury operators to create tooling that solves real accounting and compliance problems. We understand how to design:

APIs and dashboards developers can build with

Ledger exports that accountants can trust

Financial systems that regulators can understand

Our team is ready to apply this experience to make Cardano the most financially transparent and enterprise-ready blockchain in the world.

We recognize that infrastructure tools like LedgerSync must be maintained and evolved over time to remain useful and secure. After the initial development and launch, our team will ensure ongoing support through the following commitments:

1. Open Source & Community Contribution Model LedgerSync will be fully open-source under a permissive MIT license.

We will maintain public repositories (e.g., GitHub) and documentation, with clear contribution guidelines and issue tracking.

We aim to build a contributor community by collaborating with Cardano devs, tax/legal experts, and accounting software integrators.

2. Hosted API & Dashboard (12-month SLA) We will operate and maintain the LedgerSync API and web dashboard for at least 12 months post-launch.

This includes performance monitoring, uptime guarantees, and minor feature improvements based on user feedback.

Usage analytics will help guide further development and justify continued investment.

3. Integration into Ecosystem Platforms We plan to partner with projects like wallets, treasuries, and DAO platforms to embed LedgerSync functionality directly into their user flows.

These integrations will drive adoption and create incentives for those projects to co-maintain or extend LedgerSync features.

4. Funding Model for Sustainability After the initial Intersect grant period, we will pursue additional funding via:

Follow-up proposals to Intersect (for scaling, integrations, and new features)

Co-grants or partnerships with ecosystem tooling teams (e.g., Koios, Liqwid, GimbaLabs)

B2B service model for advanced users needing SLAs, custom exports, or enterprise APIs (optional, while keeping the core free and open)

5. Governance and Roadmap Stewardship We will periodically engage with the Intersect Community Committee to report progress and solicit feedback.

A public roadmap will be maintained, and feature prioritization will be driven by real-world user needs and evolving tax/reporting standards.

In summary, we are committed to ensuring LedgerSync is not just a one-time deliverable, but a living part of Cardano’s financial infrastructure, backed by both a technical roadmap and an open governance mindset.

The successful development and deployment of LedgerSync depends on both technical infrastructure and alignment with Intersect’s community-driven governance model. This proposal will actively engage Intersect’s committees to ensure that the work is relevant, interoperable, and supports broader Cardano adoption.

1. Access to Core Cardano Infrastructure We require a fully operational Cardano node stack:

cardano-node

cardano-db-sync

Ogmios, Kupo, or other UTXO-oriented indexers

Collaboration with Infrastructure Committee members will help ensure best practices, access to hosted services where needed, and compatibility with ecosystem tools.

2. Alignment with Ecosystem Standards We will contribute improvements back to indexing tools (e.g., DB-Sync, Koios).

Coordination with the Technical Steering Committee will help ensure:

Alignment with metadata, schema, and interface standards

Interoperability with upcoming Cardano infrastructure layers

Non-duplication with other Intersect-funded efforts

3. Ecosystem Collaboration and Use Case Development We aim to support reporting needs across DAOs, treasuries, and dApps.

Coordination with the Community Committee will help us:

Gather use cases from real-world Cardano builders

Prioritize features based on pain points identified by community projects

Increase adoption and contribution via open-source engagement

4. Legal, Tax, and Compliance Context Since our output supports financial reporting and taxation, we will:

Engage with external legal and accounting professionals

Seek guidance from the Governance and Legal Committee at Intersect to ensure our tools can align with evolving regulatory expectations around blockchain reporting

5. Hosting and Public API Access LedgerSync will include a hosted API and dashboard with public access.

We may request support or guidance from the Operations and Delivery Committee for:

Infrastructure grants, hosting credits, or access to shared cloud resources

Deployment best practices, scaling, and security

6. Funding and Transparency All outputs will be fully open source and published under permissive licenses.

We will work with the Funding and Grants Committee to:

Provide milestone updates and budget transparency

Share KPIs and usage metrics from the public API to demonstrate ROI

Encourage integration by other Cardano projects through co-funding or bounties

This multi-committee collaboration ensures that LedgerSync is not a standalone tool, but rather an integral part of Cardano’s financial infrastructure, built in harmony with community governance and ecosystem priorities.