Name of DAO
VitaminCoin
Proposal overview
The VitaminCoin project is currently is in an expansion phase, which started with the bridging of our token to harmony from VITE. VitaminCoin started out on the VITE chain in July '21, with the aim of incentivizing healthy behaviors through an (at the time) unique move-to-earn program that pays participants with project tokens for hitting certain daily goals, such as hitting a certain number of steps a day. Currently this is accomplished through discord using a custom built tipbot, and a dedicated team of people verifying goals are hit before payouts.
In addition to this initiative, VitaminCoin has built a robust profit sharing system to holders of the project token, the VITCDAO, through sharing node rewards, bridge fees, trading fees, and other sources of income. Nearly all revenue brought in my the project is returned to holders, thereby building an intrinsic value to the token, helping to maintain value of the token to offset inevitable selling from rewards given in the move-to-earn program. In addition, these holders make up the VITCDAO, which will/is participating in voting guiding the decisions and direction of the project.
As mentioned, VitaminCoin was bridged to harmony around 2 months ago, and is tradeable on viperswap.
Currently we have over 3000 discord members, the vast majority of which are active and participating in the move-to-earn program. We have over 2000 twitter followers. We’re currently in the final stages of releasing a stand alone app (with robust anticheat measures) for our program that aims to bring in many more people with the removal of discord being the primary base of participation.
Milestones are mostly based around hitting development goals. We would like to leverage the harmony chain to involve the use of NFT in our program, in a similar fashion to how other projects have expanded participation through them, but with the goal being increased involvement and not gatekeeping participation through exorbitant nft costs. to accomplish this is going to require additional developers beyond what are already part of the core team. This is the primary purpose behind the request for funding.
Most of the gaps in our team are related to capital expenses like development costs and marketing.
Proposal ask
We’re asking for a bootstrap amount for $250,000.
These costs are projects to be used in the following buckets.
$50,000 For Project Management
$150,000 in developer salary
$50,000 in operational, infrastructure, and miscellaneous expenses.
Metrics for success
Primarily we would like to aim for a first goal of 10,000 users, expand the project into the Harmony ecosystem via a move-to-earn program, and grow into a self sustaining project. Once these goals are hit, we plan to follow with partnerships and integration into existing fitness and health apps, thereby increasing exposure and impact beyond the existing crypto space.
External links
discord.gg/vitamincoin
