Proposal: Xeggo: Money Streaming

Name of Project / DAO / Company

Xeggo

Application type

Product Launch

Proposal overview

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.

Proposal ask

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.

Metrics for success

  1. Product launch
  2. No of users : >2K
  3. Total Volume of txn: >10KUSD

External links

Website: xeggo.co

Demo: Link

SDK (In progress): Link (npm)

Twitter: Link

This is a much-needed service, thank you for the proposal!

Approved for $50K Launch grant. Congratulations to the team and welcome to the Harmony Ecosystem! :tada:

Looking forward to the first milestone for a Testnet Launch built on Harmony.

“Testnet Launch” means launching a feature-complete product on Harmony Testnet. We define feature complete to include a user interface, connection to a wallet (Metamask, Harmony ONE Chrome Extension, etc.) on Testnet, and can be tested end-to-end by at least 100 users.

Meanwhile, to prepare receiving funds, email your identification documents to kyc@harmony.one and create a Gnosis Safe MultiSig wallet at https://multisig.harmony.one and using instructions below
:arrow_right: Setup Gnosis Safe with MetaMask & 1Wallet

Checkout the Funding FAQ for further info at Harmony Funding FAQ. Join the Harmony Grants Telegram channel to share your story and to gain partnerships there by growing your own ecosystem.

We’d love :blue_heart: to see weekly updates on this thread to keep the community posted on this proposal’s progress!

2 Likes

Hi,

Thanks, @giv and the Harmony team for the consideration of our proposal. I have submitted the identification documents to kyc@harmony.one

We have built and deployed our initial product on harmony testnet.
Link: https://xeggo-harmony.on.fleek.co/
Testnet Stream hash: 0x8d0d3Ae312a34E6A8Ab9F2c0962616bf6d365C9c
Any queries/questions can be solved by us at Twitter: https://twitter.com/xeggoHQ

Looking forward to suggestions from the community.

Hi @P2PVID7 - looks like the testnet link is not working. Thank you.

Hi @cheualx we have deployed everything on mainnet as well… You can check on xeggo.co

You can check our video as well for any guidance Loom | Free Screen & Video Recording Software

Our multisig address Harmony Multisig Wallet

Hi,

We are adding our audit report as well done by quillhash QuillAudit_Reports/Xeggo Smart Contract Audit Report - QuillAudits.pdf at master · Quillhash/QuillAudit_Reports · GitHub

Hi,

Thanks for providing the opportunity.

I am summing up all the progress here in this thread. Within 180 days of our grant acceptance, we deployed the first version.

Link: https://xeggo-harmony.on.fleek.co/
Testnet Stream hash: 0x8d0d3Ae312a34E6A8Ab9F2c0962616bf6d365C9c

Later we enhanced our contract and made 100 test txn as well
Link: Harmony Blockchain Explorer

We got our contract audit, and the audit report can be found at QuillAudit_Reports/Xeggo Smart Contract Audit Report - QuillAudits.pdf at master · Quillhash/QuillAudit_Reports · GitHub

We have a short demo of our product which can be found at Loom | Free Screen & Video Recording Software | Loom

After the testnet reset the new devnet Contract address at Harmony Blockchain Explorer

Hi Community,

Thank you for the usage on Devnet.
We also have 30+ transactions on the mainnet contract.

Please use the same and let us know your feedback if any!

Thanks!

Hi @p2k,

1/ The 100 test txn shows up as blank. Please advise?

We encourage teams, especially building cross chain bridged solutions, to go multi-chain quickly; otherwise we ask for 6-month exclusive campaign with Harmony — we can work with you to plan out time windows to work across chains.

2/ As per guidelines under Requirements, can you confirm if you comply to our 6-month exclusive campaigns with Harmony before more porting with other chains?

Hi @cheualx

The message you are checking is one from the old testnet, which was reset.

Please refer to this reply

for the updated link.
So the DevNet Contract address is: 0x9eab7c588df479a689361e77129e72b6618446f7
I am also attaching some screenshots from the last page of the DevNet Contract.

Yes, please let us know if we need to do anything on this from our side. Reference:

  1. https://dappradar.com/harmony/other/xeggo-stream
  2. Xeggo Stream Beta

FYI: Xeggo Stream Beta
The dashboard for DevNet is still WIP because of the subgraph issue. But works perfectly on Harmony Mainnet.