Secret Network India Validator Node | A Step Towards Getting Non-custodial PoS Staking on Secret to the General Masses

stake101 commented 1 year ago

Project Description

Stake101 is a one stop secure Non-Custodial Staking for PoS blockchain projects in India. Stake101 operates Blockchain Node Validations and uses the accruing rewards for Investments for liquidity provision in DeFi Applications on the same blockchain. We will run a validator node with 100% uptime & our main focus would be to encourage participation in the non- custodial PoS staking on the validator node by doing offline meet-ups & seminars amongst crypto communities & HNIs groups in different cities in India with the help of our created based of connections. We also have the relevant experience of successfully running the node on NEAR Protocol.

Detailed Product Description

The story of Secret Network since launch can be summed up in a few words including “growth”, “user adoption” and “innovation.” There seems to be no ceiling on how the Secret Network community is willing to apply the network’s existing infrastructure and extend it to the very limit of decentralized financial concepts.

As the Secret Network blockchain network is among the top used blockchains in the entire world already and poised to grow further with extensions and use of assets on the network, Stake101 wants to be a solid partner in providing reliable infrastructure to the core Secret Network team as well as the many other smaller teams beginning to build experimental ideas on top of it. Our skin-in-the-game approach includes imminent deployment of a Stake101 owned validator on Secret Network as well as a marketplace offering of Secret Network full (non-validating) nodes available for delegation to the general group.

Profile of the Team

Stake 101 believes in “product first” and a global team to offer 24/7 support.
Founded by Blockchain Educator Vinayak Kalra
Focus on product: >80% of employees are engineers
Skilled team: Over 10 employees in India.
Expansion to Singapore and Dubai within next months

Potential of the proposal (viability, longevity, competition, uniqueness, accessibility, etc.)

Stake 101’s position building of being the largest independent infrastructure provider in the blockchain industry positions it to be a long-term partner to the Secret Network ecosystem helping in opening the doors for completely new & potential high net audience to participate in delegation on secret network. As we grow and evolve we will be able to further offer value and innovation to the Secret Network ecosystem.

Go-to-Market plan

Implementation Plan :

Launching a referral program for the delegators to maximize the onboarding.
Offline meetups & rewards to motivate the audience for delegation on the Secret network.
Dedicated seminars for HNIs around passive income sources.
Setup for social media with tutorials & other related updates.

Value capture for Secret Network ecosystem

Value capture for Secret Network Ecosystem:

Participation of additional delegators and general audience onto the Secret nodes. Contributing as a validator on Secret Network. Bringing & encouraging HNIs participation towards delegation onto our secret node. To maximize the staking accounts onto Secret. Securing all the coins of the granted amount into our Validator node (minimum for 10 years)Running the secret node with the best engineers with an aim for highest Uptime in India.

Team members

Founded by Blockchain Educator Vinayak Kalra https://in.linkedin.com/in/vinayak-kalra-b40910105

Team Website

https://stake101.com/#

Team's experience

The vision behind Stake101 comes from the mind of our founder, Vinayak Kalra. His expertise in the technology sector has been the driving force behind this initiative. In addition to Stake101, Vinayak is the founder of QuadB Tech, Mining Devs and the CTO at Finstreet. "The era of blockchain has arrived and it is here to stay. We simply want to do our part in preparing our people for it."

Breakdown of costs (detailed breakdown of the usage of the funds for the proposed project.

No Funds will be used to operate the node, all the granted funds will directly be staked into the node on the first day minimum for 10 years.

Total Grant amount - $ 50,000 in $SCRT tokens.

The costs covered by Stake101

The cost of engineers to run a decentralized node.
The cost of equipment to run nodes.
The cost of electricity.
The cost to secure the node completely.
The cost to run offline meetups & seminars to get adoption and awareness in India.

YonatanE22 commented 1 year ago

Thank you for applying for the grant, @stake101. You can reach me on Telegram - @Yonatan_SCRTLabs

stake101 commented 1 year ago

Today as per our discussion with Yonatan, here are the a few points to divide the payments into the milestones-

Payment Milestones-

$10K in the beginning.
$15K after completing deployment of the node.
$5K each month afterwards.

Execution Plans to attract delegators on the Secret Node-

Monthly 2 meetups amongst 15-20 Family Funds & HNIs.
Educating about the layer of decentralisation & benefits of non-custodial staking.
Poap NFTs Distribution in the webinars.

Vinayak Kalra himself is a big believer of Blockchain and as an educator at Miningdevs has a great vision to contribute to the ecosystem with regular efforts in the right direction.

Being myself in web3 education in the past & with the relevant experience of working with Polygon, Algorand, NEAR, AAVE at Finstreet - India’s first ever crypto education platform.

We both have a vision to shift the focus from how people hold most of the capital in FDs to the decentralised world via these educational initiatives.

Please let us know in case we need to share any specific information.

scrtlabs / Grants