Funding Request - Adashi Finance

Funding Proposals Grants
1

Name of Project
Adashi Finance

Proposal overview
Adashi Finance is providing a platform for managing wealth targeting African users by accomodating both those who understand blockchain technology and those who still use fiat in their day to day transactions. Adashi Finance is designed to be fast, easy and secure for users. The overall goal of Adashi Finance is to expand access to basic financial services for the millions of underserved Africans.

Out of 1.2 billion Africans, about 57% are lacking any form of bank account while the remaining 40% prefer digital channels for transactions. However, banking is expensive, provides low ROI and has a tedious and cumbersome process. The young generation clamour for a wealth management platform that can help them save with a few clicks of a button, invest, make profits while providing a high level of reliability and security.

Adashi Finance is providing a platform for managing wealth targeting African users by accomodating both those who understand blockchain technology and those who still use fiat in their day to day transactions. Adashi Finance is designed to be fast, easy and secure for users. The overall goal of Adashi Finance is to expand access to basic financial services for the millions of underserved Africans.

We’ve designed Adashi Finance to function on a cross-chain that supports multiple blockchains and have selected Harmony as the only Open-source platform. We plan to ensure that users enjoy the benefits of Open source-based blockchain while giving them the flexibility they need.

Proposal ask
We’re requesting for $100,000 for developing the smart contract, UI/UX design and MVP development.

We’ll hire blockchain developers to build Adashi Finance smart contract including the token after which we will deploy on testnet before moving to mainnet. We will also design the user experience and user journey for Adashi Finance mobile users before implementing a user interface designed to reflect the experience. The backend and the front end will be developed at this stage to integrate the smart contract while we deploy on the testnet. We’ll also perform quality assurance to fix bugs and unresponsive features on the app.

The app will be hosted on App Store and Playstore and will be released to both closed and open beta users. We’ll gather feedback and update features to improve in preparation for Adashi Finance app launch. As the official promotion and marketing commence, we’ll promote our community to reach more audiences and create campaigns targeting new users on the app. This stage will see a massive outreach via traditional and digital channels.

Metrics for success
Our milestones will be tied to Key Performance, we’ll measure progress through the following

  1. Mobile app launch (number of user signup)

  2. Total number of users including active users (Daily and Monthly Active Users)

  3. Total number of funds (crypto/fiat) staked

  4. Total amount of dividends paid out to users

  5. Total number of transactions (daily, monthly, quarterly, annually)

Although dividends are paid annually, other metrics will be tracked and measured quarterly

External links
www.adashi.finance

2

Thank you for submitting a proposal to Harmony’s $300M Ecosystem Fund. We are in the process of reviewing your proposal and assigned to @jbeltran on behalf of the Grants Ops team.

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.

4

This reminds me of Summertime finance lmao.
Now, if you are building a project exclusively for African people. Why would you ask for funds from non African people? Does that makes any sense?

Second, your proposal is lacking a lot. This is literally a word salad with no information about the real protect. You guys haven’t even built it yet, your description about the project is blunt with no specific about how it gonna work, what feature it gonna have, etc… and yall have the ADAUCITY to ask for 100k?

:roll_eyes:

1 Like
5

Harmony has already funded DAOs to help people in Africa. It seems like you want to do what has already been funded and excluding the rest of the worlds population in the process :thinking:

Your funding requests lacks detail yet you ask for $100k. This request in no way resembles a business plan.

I hope Harmony rejects your funding request on the basis that you have not provided an in depth proposal, especially not for $100k.

6

Unfortunately, your proposal is not ready for a Launch grant based on the guidelines at Apply for Grants or DAO due to the following reasons:

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)

We hope you continue to build on this concept and circle back when it is ready to be discussed further. Thank you for choosing Harmony.