Name of Project
DEXFIAT
Application type
Product Launch
Proposal overview
The gap between the banked and the unbanked still remains enormous and the fiat economy does not seem to have a clear approach to solving this. Blockchain on the other end, with specific focus on cryptocurrencies, is a perfect exponential approach to solving this problem. Everyone deserves access to a robust, democratized financial system. With the increasing adoption rate of cryptocurrencies, a huge challenge to the general market is the ease of access to fiat-to-crypto payments. Building solutions that makes this process seamless is invariably crucial to the growth of the industry.
Dexfiat is the first fiat-to-crypto gateway through which decentralized finance and traditional finance are connected. It opens seamless ways for crypto merchants to trade, stake and earn while giving similar opportunities to crypto newbies.
Asides the Dexfiat eWallet, DAO and other encompassing features, our solution allows both users and merchants to deposit, hold, earn, convert (fiat-to-crypto and crypto-to-fiat), transfer, and withdraw crypto conveniently. Our smart algorithms are being built on the harmony chain which enables easy connection with the traditional finance ecosystem and also enables borderless transactions. While also, Leveraging Chainlink’s Oracle to provide the best conversion rates for its customers. Dexfiat truly connects Traditional finance with Decentralized finance in a decentralized manner.
With the project being launched on the Harmony blockchain, we believe this will bring liquidity, transaction volume and this will open the unbanked to the crypto-space while increasing the participation in the Harmony community and chain. By integrating our B2B, B2C and Community DAO, this brings an extensive ease of participation in the crypto ecosystem. Our DApp will allow users from different countries direct access and conversion of fiat to crypto from their non-custodial wallets like Metamask, Harmony wallet and any other wallet leveraging on the harmony blockchain. Considering the need for regulation and customer protection, a section of our API will enable centralized exchange similar opportunity on the Harmony blockchain
We are confident that the TradiFi-DeFi solution, combined with Harmony’s fast, cost-efficient network and united ecosystem will bring a huge success, while blowing the positive horn of the Network.
Project stage: Product development and Fundraising (Seed round)
Team
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Oluwaseyi: Being an Engineer with a strong technical background, Oluwaseyi is a resilient individual with interest revolving around Product development, Software-as-a-Service (SaaS), emerging Technologies, Sustainability and blockchain.
Speaking of Blockchain, Seyi, is a Crypto Trader of many years of experience serving as an advisor to multiple crypto projects in the past. As the CEO and Founder of DexFiat Project, Seyi brings multi-diverse industry knowledge into this product development, first as a Product analyst, a part time developer and currently pulls in as many resources to ensure that the product is community-centric and meets all its delivery milestones.
https://www.linkedin.com/in/oluwaseyi-falola/ -
Christian: is a full stack developer with several years of experience with various software stack, he is a senior software developer at VFG group. He features on the Dexfiat project as technical development Lead and advisor
https://www.linkedin.com/in/osueke-christian/ -
Dunsin: Is a multi-diverse technical consultant. With strong footing in Policy human-centered innovations in AI and Blockchain. Dunsin serves as both a technical and business adviser on the team. With his experience in leading private blockchain development projects, his contribution to the Dexfiat community proves that the team is within safe guidance.
https://www.linkedin.com/in/dunsinfatuase/ -
Goodness:A Crypto enthusiast and educator with long term experience in online and offline relationships with consumers in the crypto space. He is a crypto educator at Giddy Educational institute. He has been a contributor to some major crypto projects like Ksf finance and others.
https://www.linkedin.com/in/goodness-ajayi-743530169 -
John: a young, energetic and enthusiastic Backend developer, solution driven and resilient. He contributes as one of the backend and blockchain developers on the Dexfiat team.
https://www.linkedin.com/in/john-oseni-4b8b001b0/ -
Kemi is an astute and detail oriented FrontEnd Developer for blockchain projects. With a sound technical background in Meteorology, Kemi self-developed into a well desired developer. And with proficiency in HTML, CSS, Javascript, Reactjs, Nextjs, Nodejs, Express among other frameworks she has been able to use these skills in building some of the finest products around. Having worked with Pomade Consulting and Sjultra in the past, it’s a thing of pride to see her bring her experience to use on the Dexfiat project.
oluwakemi-dada (Oluwakemi Dada) · GitHub -
Emmanuel is a bright mind and highly spirited community manager at Dexfiat. Being a Crypto Analyst, he successfully led different community engagements for the advancement of grassroot emancipation for blockchain adoption. Emmanuel is agile in thinking and delivery and he thrives by his excellent team work spirit. At Dexfiat, he leads the community management and with his involvement, the growth of the community has been impressive.
https://www.linkedin.com/in/emmanuel-idu-sunday-8b8192200 -
Adedeji: on the advisory board is Adedeji, who has been a major pioneering force in the Nigeria Blockchain and cryptocurrency space. He is a policy maker in the Nigerian Blockchain space and COO at Convexity and sits on board A&D Forensic, a blockchain forensic company. He has been a major contributor to the Dexfiat project development.
https://www.linkedin.com/in/adedeji-owonibi-/
Asides the afore mentioned team members, we also have 1 Front End Engineers, 2 back-end Engineers, 1 Product Designer and 3 other reputable advisors on the Team.
Proposal ask
$50,000
Justification
We are requesting for $50k in equity-free contribution with the following suggested distribution plan:
$10K after launching a feature-complete product on our testnet,
$10K after forming a DAO with multisig,
$10K after launching on Harmony mainnet with audit,
$10K after 1K daily active users,
$10K after 10k daily active users.
The goal is to ensure that the overheads of running the business from build to release and to market entry is properly funded. Our goal is to use the funds in sorting critical operation arms like development, talent recruit and remuneration, product marketing as well as product scaling. With access to this funding, our attention will fully be on the product delivery and not on footing the financial consequences of building a solution the market really needs.
On other chains, there are other projects that sound similar, but the beauty of any market is diversity and competition Dexfiat looks into bridging them with our multichain bridge included in our roadmap. Building Dexfiat on harmony results into making the chain more attractive to adopters, users and market absorption.
With many other projects on harmony, DexFiat brings other market players from the African continent with support from other Asian and western friends. This contribution also helps Harmony to be balanced and lively with diverse projects.
With the support of leading global project contributors in the Blockchain space, we are sure of being within proper guidance in building this product till launch and adoption.
Metrics for success
To foster our development we have partnership with Convexity as incubator, and also in positive relationship and communication with the crypto elite and blockchain user groups in the country. With our current organic growth of approximately 71.71% rate within November and now through community incentive and education, we project to hit at least 20k community users and $1m in transactions in the first 8 months
Toward traction growth, Dexfiat will be adding value to her community with Learn and Earn games starting soon on our telegram forum
