VC launchPad

NAME OF PROJECT

VC launchpad (Idea Phase)

INTRODUCTION

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.

THE PROBLEM

ONE investor holder

an investor holding one token has two available options:

  1. staking – with a 10% yearly return, its purely risk-free, which makes it a cool investment

  2. 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.

  1. 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.

  2. 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.

  3. Project support – it’s hard to tell long term investors from short term ones; hence most short term investors win most of the time.

SOLUTION

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.

TIMELINE

  1. Launch a feature-complete product on harmony testnet -

ASK

we are requesting a $50K equity-free contribution from harmony, based on the following milestones:

  1. $10k after launching a feature-complete product on Harmony testnet.

  2. $10k after launching on Harmony mainnet with an audit.

  3. $10k after 20 successful projects

  4. $10k after 50 projects have been launched on the platform

  5. $10k after 70 projects have been launched on the platform

BENEFITS TO THE COMMUNITY.

Entrepreneurs

  1. Working with investors that care about the project’s long term success.

  2. Working on blockchain projects that have different kinds of value propositions.

  3. Easier to prove proof of concept by getting more people involved in the projects.

  4. making it easier to access funding by using the platform to market the product.

Investors

  1. It’s tough finding projects worth investing in in the long term; we hope this platform provides an opportunity to invest in worthy projects.

  2. Prevent rug pulls – every spending request must be approved by at least 50% of the investors.

  3. 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.

  1. 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.

Community.

  1. All in one platform where the latest harmony projects that have the potential to scale are available.

  2. Easy following up on teams and projects funded by the harmony community.

  3. 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)

VC launchPad.

1. Name of the project?

VC launchPad

2. what type of project is it? (DAO? LLC?)

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.)

1000 ONE

9. please add your team profiles ( Bio, LinkedIn profile, Twitter, Facebook )

twitter - @anthonykmani

LinkedIn - https://www.linkedin.com/in/antony-kimani-713ab9223/

10. additional important links (whitepaper, Github, website )

Below is what a DAO project might look like;

UNIVERSITY DAO

1. Name of the project?

University DAO

2. what type of project is it? (DAO? LLC?)

DAO

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)

website -

Since we are still in the idea phase, your comments and opinions will be highly appreciated.

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 :blue_heart: to have the Harmony community participate to ask questions and provide feedbacks.

If you have more details to add, please do so by replying to this thread.

I had a quick read. Sounds interesting.
I want to read this in more detail just got a few things to do first. Say “hi” in a week’s time if i haven’t replied

Hi @Antony_Kimani,

Novel idea on your project. Few questions I’m interested in learning.

  1. What metric would you quantify the value proposition of the Entrepreneurs
  1. On your platform, define “hope” and who does the “asking on critical business questions”?
  1. Does this “fee” rebate back to community treasury?

Quantitative measurements

  1. Amount of money raised for projects

  2. Amount of investors involved in the projects

3 Community Feedback on the projects.

Imagine a platform like harmonyuniverse.one but with this extra features.

  1. Financial details of all projects.
  2. Team details of all projects.

When creating projects enterprenuers have to fill a form outlining details they might think is important for potential investors. I proposed those questions because they help in accessing the financial viability of projects, of course this should not be the only way to judge projects and we might change in future.

The 1% fee will be used for marketing , research and development. I dont understand what you mean by community treasury though maybe expound a little

1 Like

Update

hello everyone , I have spend week reaching out to entrepreneurs and investors asking them what are some of the core features they might want to have in such a platform. The platform is mostly going to have two types if users Investors and entrepreneurs, below are some of the features I think are important for each category

Entrepreneurs

  • The platform should be permissionless- this is a tricky feature to implement since most launchpads have a strict vetting process in order to get listed to prevent rug pulls.
  • Easy access to funding – easy access also comes with its downsides like its easy to waste resources.

Investors.

  • Protecting their funds – no one can rug pull and relocate to Dubai.
  • Prevent misuse of Funds- a very common occurrence in startups

Problem Statement

We need to build a platform that has the following critical features.

  • Permissionless
  • Easy access to funding
  • Prevents misuse of funds.
  • Protecting investors’ funds.

Solution statement .

Implementing such a platform has to come with some trades off , below is a suggestion of one of the ways we can try to implement it while still maintaining these features.

Permissionless – anyone can create a project, how will we deal with people creating bad projects? Their is a cost in creating projects, that is managers will have to spend their tokens to create projects,

Easy access to funding – this comes up with huge trade offs but I think 1% project fee will sift out lots of jokers and scammers, since you will have to invest at least 1% upfront. This will make sure to get the project manager’s skin in the game.

Prevent misuse of funds – at least 50% of the investors have to approve any spending request( see youtube video)

Protecting investors funds – at least 50% of the investors have to approve requests.

What other critical features do we need for the smart contract? This week we will finish up on the front end.

youtube link - VC launchPad MVP features - YouTube

transaction id -0x0966f57e05fc3bf22608aca56f6a888b2b54a624b2f43f310442916718e0e8a2

hey @drspinosa , i have also added some few updates and a youtube video - what other features might be needed?

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We’re unable to move forward with this Launch grant request based on majority vote within our grant committee that adheres to the guidelines of Apply for Grants or DAO.

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*The voting from our grant committee is a pilot program which will eventually open up to the community *

Thank you for choosing Harmony.