## Name of Project / DAO / Company
Intellabridge (Ticker symbol: KASHF)
## Application type
Product Launch
## Company overview
Intellabridge is a Mastercard-incubated, publicly traded company offering 10% stable interest on cash deposits to users from their local banks. Intellabridge enables the next 10x wave of defi adopters to access decentralized markets through its “Kash DeFi” product by solving the problems plagued by current defi mechanisms. Some of the key solutions are outlined below:
- Integrating with over 11,000 banks through Plaid so a user can ACH / wire funds from their local bank accounts (i.e. Chase Bank, Wells Fargo) directly into Anchor Protocol
- Enabling wallet creation via Gmail/Facebook social login with Google Authenticator to avoid management of a private key
- Creating customer support to answer questions around a user’s specific account
- Having a debit card to spend Anchor deposits in (by moving from a user’s savings account to checking account)
- Providing FDIC insurance on checking account deposits (debit card balance), and third party private insurance on amounts held in the savings account (Anchor) in a single screen (coming later this summer)
The Kash DeFi platform is live today for any person in the United States to use (except NY resident).
We are a team of 25. Our Chief Executive Officer is a Georgetown graduate, former banking vice president, and former US State Department researcher. Our Head of Strategy is a Wharton MBA, former Y-Combinator startup founder, and management consultant. Our advisors include the Head of DeFi Strategy for Celsius Network and a VP of Analytics for a $100 billion REIT.
## Proposal overview
Intellabridge is built on the Terra Network. As part of its “normie-friendly” strategy, Intellabridge is building a proprietary utility token called “Kash Kredits”, which resemble mechanism similar to hotel reward systems, credit card point systems, and frequent flier mile programs. Users accrue “tokens” every month based on how much they save in Anchor Protocol, and those tokens can be “redeemed” for a variety of rewards such as a free debit card or higher interest rate on the platform.
Considering the projected users on the platform, the frequency of token accrual, and the redemption transactions used by members, it brings natural challenges to build the token system on the Terra Network due to the fees involved. Even with Terra’s Proof-of-Stake mechanism, the sheer volume of monthly transactions for users will become untenable for Intellabridge to subsidize the transaction costs. If the Kash DeFi platform passes on the costs to the users, the consistent small fees become psychological barriers that resemble traditional banking. And if the team chooses to batch transactions together, that creates additional complexity and reduces decentralization.
This proposal is to explore building the Kash Kredit token system on the Harmony One Network instead. Users can be rewarded Kash Kredits on the Harmony One network. Intellabridge will subsidize costs, so the Kash DeFi platform shows a seamless exchange of Kash Kredits for the users when they earn, redeem, or send Kredits to other users in a Venmo-like experience.
## Proposal Timeline
Our milestones are:
May 2022: Finish architecture on how Kash Kredits on Harmony One could be implemented
June 2022: Develop test transactions to ensure the system works
July/August 2022: Deploy on Harmony Mainnet (if determined to be the proper solution)
## Proposal ask
$10K to allocate a side-team of developers to create this system on the Harmony One network. Since Intellabridge is built on the Terra Network, its engineering team consists of Rust developers. It would require significant effort to attempt to build this system in Solidity and asses how seamless the user experience would be for users to interact with other elements of the site. In truth, it would require closer to $100,000 than $10,000, but this grant at least places some symbolic support to encourage the leadership team in pursuing this pathway.
## Metrics for success
Within the first year of launch, have the following KPIs:
- Over 100 million Kash Kredits in circulation on the Harmony One Network
- Over 1 million monthly transactions occurring on the Harmony One Network
- Over 100,000 new users on the Harmony One Network
## Equity
Intellabridge is a publicly traded company with shareholders in Canada, the United States, and Europe. No entity or individual owns over 10% of the outstanding shares in circulation.
## Product demo link
- Video of ACH process on Kash DeFi platform today for users in the United States – ACH Onramp To Earn 10% Annual Return On Kash DeFi - A Tutorial - YouTube
- Video overview of Kash DeFi platform – Intellabridge; Announcing the Private Beta Launch for Kash with A Live Demo - YouTube
- Video overview of Kash Kredits system that will be deployed on Harmony One - Kash Kredit System Demo - YouTube
## External links
Presentation Deck - https://www.intellabridge.com/_files/ugd/adb176_a9fd3de7bc9b44c49f1607c029177f95.pdf
to see weekly updates on this thread here, to keep the community posted on this proposal’s progress!