EQ8 Network: Funding proposal to onboard 5.5 million users on Harmony

Funding Proposals
1

## Name of Project / DAO / Company
EQ8 Network

## Application type
Partnership, Product Launch, Investment

## Proposal overview
[Describe in less than 2,000 words on how this will benefit the blockchain ecosystem. Be specific about the goals and outcome of the proposal, with go-to-market and/or user-acquisition strategies if possible.

EQ8 is a one-of-a-kind NFT data marketplace powered by Polygon that rewards users for their time, knowledge, and attention.

EQ8 introduces a patented “Proof of Assessment” protocol that ensures authenticity, verifiability, and ownership of data directly from the Blockchain, thereby eliminating data manipulation & fabrication by intermediaries, bots, and click farms.

Users can create content for Market Research as well as participate in campaigns such as Surveys, Polls, Reviews, Ratings, Skill Assessment, Marketing Campaigns, Play-to-earn Quiz & other contests to receive rewards/royalty in crypto not just once but every time their content is used in a campaign or their data (anonymized) is requested by data requesters.

EQ8 aims to create a Dataverse that powers the decentralized knowledge economy.

EQ8 Network primarily consists of three stakeholders: (i) Data Requestors, (ii) Data Providers and (iii) Content Creators.

On the EQ8 Network app, Data Providers participate in Market Research campaigns and consensually exchange their data in return for crypto rewards. Providers remain the supreme authority over how they share their data, it cannot be accessed without their permission by any third party, not even EQ8. There are different types of sponsored campaigns providers can participate in to earn rewards and also create their own campaigns amongst the community.

For Data Requestors:

Data Requestors can elevate market research experience with the EQ8 Network App. Requestors exchange authentic data with verifiable audiences using blockchain technology with added privacy, security, and real-time payments and settlements.

For Content Creators:

We aim to create the most compelling metaverse for creators with a one-of-a-kind NFT marketplace where data requestors directly source their content from creators to fuel their campaigns. Creators in turn get instant royalty payouts each time their content NFTs are used by any data requestors.

Goals and GTM Strategy.
2021: Target market India (Patent protected), MVP launch with focus on building a solid user base/panel in India by leveraging strong partnerships and Patent protection

2022: Target Market- Usa and Middle East. Onboard 5 Million+ users ** (MoUs signed already) via enterprise partners and focus on acquiring US & Middle East markets to meet the demand from enterprise users

2023: Mass Adoption: IOT Data Marketplace launch with focus on global expansion and transitioning towards complete decentralization and launch of EQ8 DAO

What stage of the product or idea are you (and your team) at?

We have already launched the product beta for android users and soon will be ready with our IOS versions

Is it live on Harmony and/or another chain?
It is currently live on Polygon Mainnet. EQ8 is a multi-chain dapp and can be deployed on different Blockchains.

How many active users do you currently have, or aim to acquire?
We plan on acquiring 5.5 Million users through our enterprise partners with whom we already have signed a Memorandum of Understanding.

How much funding do you need?
USD 25000

What are your milestones?
Q4 2021- Mainnet Launch
2022- NFT Data Marketplace, Contests and Fantasy Sports module, Prediction Markets module.
2023- IOT Data Marketplace, Data Feeds Module, EQ8 DAO

What help do you need, or what gaps are there in your team?]**
Marketing and Cross community engagements

## Team
Founder & CEO: Madhur Prabhakar- Blockchain and Smart Contracts consultant and Ex-Officer, Govt of India having 10+ years of experience in e-Governance implementation.

COO-Neeraj Jain- 20+ years of experience working with Fortune 500 companies in delivering technology projects

CPO- Akshat Paliwal- An IIM Ahmedabad alumnus with over 10 years of experience in Market Research, Insights, and Consulting.

Advisors:

Sanjeev Verma- Chairman Preveil- Sanjeev is a technology entrepreneur with a track record of building successful businesses such as Airvana, a publicly listed firm.

Suhail Sameer- CEO BharatPe- Suhail is the CEO of one of India’s leading fintech unicorns. He also has extensive experience working with Institutional Investors.

Erik Azulay- Director Nexus Incubator- Erik is a specialist in technology commercialization and international business. He heads Nexus, an incubator that is funded by the U.S. State Dept.

## Proposal ask
USD 25000

Justification

Our ask of 25000 will help us in further developing our product for the Data requestor module and the data provider module. We estimate a figure of about 14,500 that will be solely dedicated to hiring and additional tech personnel and resources for product development and optimization.

$ 10,000 is required for Marketing and community building. We propose to carry out a joint community engagement activity with Harmony wherein community members of harmony can win exciting prizes in Harmony tokens itself for participating in campaigns on EQ8 Network

Metrics for success

Onboarding 5 million+ in 2022 through our enterprise partner network. Averaging 10k-50K transactions per day.

External links

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Thank you for submitting a proposal to Harmony’s $300M Ecosystem Fund

We are in the process of reviewing your proposal. We would also love :blue_heart: to have the Harmony community participate to ask questions and provide feedbacks.

If you have more details to add, please do so by replying to this thread.

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Hello and welcome!

Your idea is interesting but I have some questions that hopefully you can provide clarity on:

  1. Can you give an example of some user-created “content for Market Research”? How is this different than a user filling out a survey/poll? Does this mean a user-created survey?

  2. Can you explain more about how Proof of Assessment eliminates fabrication by intermediaries, bots, and click farms?

  3. Related to the above, you have the ability to earn crypto through POA by completing surveys, polls, etc., it would seem to be a prime target for botters to create scripts and multiple accounts/wallets to do those tasks. What systems are in place to prevent this?

Thanks!

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Hi Candor,
First of all, thank you so much for showing interest in EQ8 Network and asking really important questions. Please find the answers to your questions below:

Ans- While curating market research campaigns, researchers and companies typically source content (questions) from third parties for conducting surveys, polls, etc. On EQ8 Network, we have introduced QNFTs (Questions minted as NFTs), wherein the community/SMEs and content creators can create questions for gathering meaningful insights. These questions can be used by EQ8 Network for co ducting secondary research or any researcher or company for their primary research campaign. Whenever any QNFT is used for data aggregation, the creator of that QNFT receives royalty per use/data point.

Ans= There are 2 parts to this answer:

  1. Data/Result manipulation by third-parties/intermediaries- The problem that currently exists within the data collection processes is data manipulation and fabrication by intermediaries/ centralized applications. Being centralized in nature, current data collection systems are often manipulated by the system owners at the database level (without anyone coming to know about it) to cover up discrepancies in data collection or meeting target numbers/ deadlines. The data requestor(researcher/company) has no credible way of verifying the authenticity of the data set being presented to them by the intermediary.

Whereas, on EQ8 Network, our ‘Proof of Assessment’ algorithm registers each response wrt to each question (NFT) on Blockchain directly, and on the basis of these responses the results are executed eliminating the possibility of manipulation at the database level.

  1. Data manipulation via bots and click farms- EQ8 network builds de-centralized identities for every user, furthermore these identities are backed by profile reputation scores. KYC Verification, profile surveys scores, campaign participation scores all contribute to building the profile reputation score. Moreover, there are a number of Ai algorithms in place to identify any bots and click-farm trying to enter the system. Since our product is focused on enterprise adoption, we aim at providing authentic data through verified users on EQ8 Network. The reward structure is designed to provide greater rewards to KYC verified panelists in comparison to non-verified users who receive negligible rewards.

Ans- We have multiple Ai algorithms and checks/balances that prevent bots from entering the system like:

  1. KYC verification
  2. Device Fingerprinting
  3. IP Check,
  4. Biometric Access Control( Finger Print/Face ID),
  5. Captcha,
  6. Straight Liner Check,
  7. Speeder Check,
  8. Red Herring Questions,
  9. Open-End Bad data filtration,
  10. Numeric Inconsistency Identifiers

Would love to answer any additional questions you have.

Thanks
Team EQ8

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Very Interesting, this is one of the easiest use cases for NFT’s. I as a user am very aware about my data being auctioned without my permission and as far as I understand your project, my data would be safe and monetised. Are you guys having any token sale round currently ? I would be interested in getting in.

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Thank You, Ma’am. That is exactly what we are trying to do. Users need to exercise their right to control their data. Please contact me at tanuj@eq8.network to know more about how you can participate and become a part of the EQ8 Network ecosystem.

Regards
Tanuj
EQ8 Network

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Great. Please check your email inbox!

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Very Interesting. What all can I do to earn on EQ8 Network ?

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I went to your website and filled out the waitlist form. Looking forward to invest.

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There’s a list of activities and play to earn games like polls, quizzes, ad campaigns, online surveys, data pools etc

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Thank you, looking forward to welcoming you to the EQ8 family.

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Hello @tanuj -
It has been a bit since our conversations and I am encouraged by your work and success to date.

Apologies for the delay - I am working on clearing out a backlog of grants and requests.

Please look at the Harmony Grants Guidelines page to review where EQ8 would fall into the mix. To be honest, I am not 100% sure. Perhaps under the Launch grant guidelines, which are:

  1. 500 Launches ($20M). Applications of each launch must have prototyped a feature-full product. Harmony helps incubate these founding teams with product development, fundraising, and talent recruit. We recommend a $50K equity-free contribution each:

$10K after launching a feature-complete product on our testnet
$10K after forming a DAO with 5-out-of-9 multisig with our DAOs
$10K after launching on our mainnet with audit
$10K after 1K daily active users (with launch video, full PR promotion)
$10K after 10k daily active users (with a detailed roadmap, governance process)

Please let us know if you are interested in this sort of a grant.

Thanks!
Sam

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Hi Sam,
Thank you for your reply. I understand that it is a busy time for you.
Sam, I would like to bring to your attention that since our last conversation, EQ8 has made a lot of progress:

  1. Our Mobile app is now live for both IOS & Android users. If you have not had a chance to check us out you can do so by downloading our live app through these links.
    IOS: ‎EQ8 Network on the App Store
    Android: https://play.google.com/store/apps/details?id=com.eq8

  2. We are close to onboarding our first 2000 users.

  3. We are running campaigns on the application on a daily basis and have so far users have minted close to 50K Data NFTs.

  4. It would also interest you to know that we have distributed over 65K Exp Tokens (NTT) to the community as rewards in exchange for their time, knowledge and attention.

We would be very interested in the 500 Launches ($ 20M) Grants Program. Please let us know the next steps.

Thank You,
Tanuj