Xeggo is a trustless money streaming protocol where the sender can repeatedly stream money/token to the receiver account, like hourly/daily/monthly. This product will be used to facilitate the payment for freelancers, contract workers, grants, salaries and any composable stream of value, with continuous settlement and per-second netting for extreme capital efficiency.
Many among one everyday use case would be grants distribution. Let’s say a DAO decided to give a grant of 100k in 5 milestones/month to project Capstone (some arbitrary name). Capstone projects aren’t sure whether they will grant on time or not (a prevalent problem in grant and freelancing space ). The project owner will ask DAO to use Xeggo for streaming the money. DAO will lock up the money. Every month 10K will be going to the receiver regularly. If the project owner didn’t meet the criteria, then DAO can stop the streaming. If not, the money will be continuously streamed. The theme here is to remove trust barriers through trustless products. Also, at later the later stage of development, the receiver will be getting Yield on it. So the capstone project owner will get 100k+yield as a grant amount.
The end product would be DAPP using Xeggo SDK/contracts. Many other applications can be built around it by using this product in terms of insurance, accounting etc.
We have deployed the product on Eth testnet and been selected to incubator EthAum, Singapore. Along with that, we have already done market validation among gig economy participants.
We are requesting $50K grants in terms of 5 equal milestone worth 10K basis as described below.
Our milestones are:
$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 detailed roadmap, governance process)
5-out-9 multisig account on Gnosis Safe with 3 governors from the project team, 3 governors from the project community, and 3 governors from Harmony DAOs – namely, ONEcommunityDAO, ONEdeveloperDAO, ONEincubatorDAO.
- Product launch
- No of users : >2K
- Total Volume of txn: >10KUSD
SDK (In progress): Link (npm)