NAME OF PROJECT
VC launchpad (Idea Phase)
The lack of Business development processes like financial planning has made crypto projects scary for risk-averse investors. This proposal aims at implementing some business development processes for investors who are risk-averse and like following up on the financial aspects of their investments.
ONE investor holder
an investor holding one token has two available options:
staking – with a 10% yearly return, its purely risk-free, which makes it a cool investment
ecosystem projects - risky since you have to trust the team handling the projects that they won’t rug pull, squander investors’ money and won’t quit on the project midway. The way to offset this risk is by getting in projects on presale and selling them during the main launch.
Investors don’t have a VC-like platform in harmony to check projects, plan to become sustainable and follow up on their finances.
Before becoming an investor, you have to be a customer first. For example, if I want to invest in a game, I have to participate in playing the game by purchasing the game tokens and hoping they go up in price. What if I want to invest in the team and follow up on their day to day operations, like approving how they are spending their money? I don’t have that on-chain option.
Entrepreneurs in the community
Entrepreneurs who want to work on blockchain projects have the following challenges.
Funding – the easiest way to get funding is an ICO/NFT offering. This comes with several challenges; keeping the token price up is crucial for the project – which might lead to unethical practices like generating fake hype.
It’s harder to look into other sources of value – not all blockchain projects need tokens and giveaways. Creating a project that does not have tokens, NFTs and blockchain infrastructure is complicated and hard to get grant and community funding.
Project support – it’s hard to tell long term investors from short term ones; hence most short term investors win most of the time.
We have created a platform that allows VC investment for blockchain projects. Entrepreneurs can develop projects and raise money on the platform. They have to prove their projects are worth funding by answering a few questions like the market, customers, and services they will be serving. They also have to create requests to spend any amount raised by their investors.
VC type investors will get to participate in the running of the financial aspects of the business(probably the most important); they will get to approve any spending on the money raised. We have implemented a 50% of the investor’s need to approve expenditures.
- Launch a feature-complete product on harmony testnet -
we are requesting a $50K equity-free contribution from harmony, based on the following milestones:
$10k after launching a feature-complete product on Harmony testnet.
$10k after launching on Harmony mainnet with an audit.
$10k after 20 successful projects
$10k after 50 projects have been launched on the platform
$10k after 70 projects have been launched on the platform
BENEFITS TO THE COMMUNITY.
Working with investors that care about the project’s long term success.
Working on blockchain projects that have different kinds of value propositions.
Easier to prove proof of concept by getting more people involved in the projects.
making it easier to access funding by using the platform to market the product.
It’s tough finding projects worth investing in in the long term; we hope this platform provides an opportunity to invest in worthy projects.
Prevent rug pulls – every spending request must be approved by at least 50% of the investors.
easy doing due diligence on projects and teams – every project will be asked critical business questions, and the teams’ information will also be there.
Harmony Core team.
- community participation in grant projects has been minimal- through a strategic partnership, the core team can decide only to be funding projects through the platform to ensure the projects make business sense first. E.g we will be investing 50% up to $50k on the amount a grant proposal raises from harmony private investors on the platform.
All in one platform where the latest harmony projects that have the potential to scale are available.
Easy following up on teams and projects funded by the harmony community.
Get to participate in the financial aspects of your investments by approving spending.
Vc launchpad team
we will be charging a 1% fee
Below are some of the questions project owners will have to answer. You who caught the turtles better eat them (we have used VC launchPad as an example)
1. Name of the project?
2. what type of project is it? (DAO? LLC?)
2. what problem is your project solving? ( 50 characters)
it’s tough to invest in crypto projects in a way that you are not a direct customer, e.g. by purchasing Tokens and NFTs; it’s also challenging to participate in tracking daily operations, e.g. cashflow in crypto projects
3. what solution are you offering? (200 characters)
a platform where VC type investors and entrepreneurs can interact and follow up on their investments.
4. who are your competitors, and what makes your project unique? (300 characters)
most launchPads offer ICO and IDO offerings; some investors want to invest but not have to buy tokens or NFTs; they also want to follow up on how the teams they have funded are spending their money; this is the market we intend to serve.
5. How will the project be sustainable/profitable?
We will be charging a 1% fee.
6. How much are you guys raising, and at what % of the project? (e.g. we are looking to raise 1 million one tokens at a 50% stake in the project)
we are looking for 10000 ONE tokens for a 10% stake in the project.
7. please justify the number of tokens you want to raise and what you want to do with the funds raised.
10000 ONE tokens will be used for product development and marketing
8. whats the minimum contribution per investor? ( if you want to raise one million ONE tokens and the minimum contributing is 100 000 ONES, then the maximum number of investors is 10 – which means you will need at least five investors to approve spending.)
9. please add your team profiles ( Bio, LinkedIn profile, Twitter, Facebook )
twitter - @anthonykmani
10. additional important links (whitepaper, Github, website )
Below is what a DAO project might look like;
1. Name of the project?
2. what type of project is it? (DAO? LLC?)
3. What problem is your project solving? ( 50 characters)
the number of blockchain developers is currently low; we aim to be a decentralized organization training and connecting young developers for blockchain jobs and taking a fee from their salaries.
Blockchain adoption has been increasing way more in the last few years than the number of developers; we aim to solve this problem.
4. what solution are you offering? (200 characters)
we are going to create an e-learning website; once developers complete the courses and have proven competent enough, they are allowed to create an employee account which will give them access to blockchain jobs according to their qualifications.
5. who are your competitors, and what makes your project unique? (300 characters)
currently, we don’t have an organization working on such a platform, primarily specializing in an area like blockchain development. We aim to be the first to connect potential blockchain employers and skilled blockchain developers.
6. How will the project be sustainable/profitable?
After someone gets a job, we will be cutting some of their salaries until an agreed amount. For example, if it took USD 2000 to train a developer and they have gotten a job paying $3000 per month, we will be subtracting $500 until we reach 150% of the cost of teaching them, then we look for other potential hires.
7. How much are you guys raising, and at what % of the project? (e.g. we are looking to raise 1 million one tokens at a 50% stake in the project)
we are looking to raise 100 000 ONE tokens for a 40% stake in the project. We
8. please justify the number of tokens you want to raise and what you want to do with the funds raised.
The 100 000 ONES will be used to create the learning and job platform, and it will also be used for marketing and salaries of the trainers, moderators and platform maintenance.
9. whats the minimum contribution per investor? ( if you want to raise one million ONE tokens and the minimum contributing is 100 000 ONES, then the maximum number of investors is 10 – which means you will need at least five investors to approve spending.)
We are looking to have 50 investors, and the minimum contribution is 2000 ONE; rewards earned will be redistributed according to the address amount invested.
10. please add your team profiles ( Bio, LinkedIn profile, Twitter, Facebook.)
twitter - @thelastsentinel
LinkedIn – https//www.linkedIn/lastsentinel.com
11. additional important links (whitepaper, Github, website)
Since we are still in the idea phase, your comments and opinions will be highly appreciated.