Name of Project
blockbank
Proposal overview
Blockbank’s vision is to create an all-in-one crypto application that simplifies the user experience without compromising security, privacy, or decentralization. We aim to combine the best of DeFi and CeFi worlds in one place, and incorporate AI technology to assist users in decision-making.
Our objective is to expand the universe of global users and bring wider financial empowerment to them. Blockbank’s first mobile application was launched in 2019. Since then, blockbank has amassed over 50,000 users and will elevate its offerings with the launch of version 2 consisting of CeFi, DeFi, banking coupled with a robo-advisor.
What stage of the product or idea are you (and your team) at? Fully functional with V3 coming out shortly. (Fireblocks integrated, Debit cards available to the UK/EU jurisictions)
Is it live on Harmony and/or another chain?
Ethereum & BSC at present. However, we are more than excited to integrate Harmony into the application.
How many active users do you currently have, or aim to acquire?
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50,000 pre-V2
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55000 additional post V2
How much funding do you need? What are your milestones?
What help do you need?
Proposal ask
$100,000+ USD
Metrics for success
Milestones, number of users/transactions, marketing results, user acquisition, TVL & Staking figures.
External links
Seed deck PDF: Blockbank Seed Deck 2022.pdf - Google Drive
Twitter: https://twitter.com/blockbankapp
Website: https://blockbank.ai/
LinkedIn: https://www.linkedin.com/company/blockbankapp
Thank you for submitting a proposal to Harmony’s $300M Ecosystem Fund. We are in the process of reviewing your proposal and will assign a representative on behalf of the Grants Ops team.
We would also love 
to have the Harmony community participate to ask questions and provide feedbacks.
I’ll be reviewing your funding proposal shortly.
If you have more details to add, please do so by replying to this thread.
Hi @Gabriel_Hiris,
I’m interested in hearing more from Blockbank. Can you elaborate on the mechanics of how the additional 20% spread in APY is achievable through owning BBANK token? Source from Lightpaper
Hello @cheualx,
Thank you for your question.
At blockbank, we have a tier structure (1-5) which is shown below.
In saying so, users lock in their $BBANK in-application for a period of 6 months (184 days). This then provides users the ability to earn up to 20% on the $BBANK token over that period of 6 months as well as access to other assets such as BTC, ETH, USDT, USDC & BNB at a rate of 10% depending on the duration that they wish to stake for. (30/60/90 days).
If you refer to our Tokenomics we have allocated 35,000,000 $BBANK tokens as rewards for staking/referrals etc for our clients as well as partnered with various firms to enable us to provide competitive yields for our users in the other assets listed above.
Thank you @Gabriel_Hiris.
To clarify, what drives the 20% APY during the lock period was my question.
Also, do you have the daily active users from Google analytics that you can provide screenshots of?
Hi @cheualx,
Can you please elaborate on what you mean by the driving of 20% APY?
Please see the below screenshots of our downloads on Android & Apple
We’re unable to move forward with this grant request based on the guidelines at Harmony Grants and Investments.
- The milestones are not specified, and can lead to lack of accountability
- There’s no clear path for go-to-market strategy of gaining 50K users
- The questions are left unanswered on funding needs, milestones and what help you need
- There was no explanation on the “… earn up to 20%” in the BlockBank Lightpaper
For those reasons, we cordially decline this proposal. Thank you for choosing Harmony.
