Closed adashifinance closed 1 year ago
stacks-foundation
commented
1 year ago 👋 @adashifinance Thanks for your application! We will do a pre-review and let you know if we have any immediate questions. In the mean time please refer to our review schedule here for a detailed timeline and response dates. Best, Will
will-corcoran
commented
1 year ago @adashifinance
Thank you for the proposal, however we we have decided to deny your application. For the next several quarters we are laser focused on conserving funding for efforts that have clear alignment with the current priorities of the grants program noted here - specifically sBTC. Additionally, with the addition of the Web3 Startup Lab to our ecosystem - we are leaning on them to support the kickstart of startup ideas like this and reserving grant funding for the development of protocol-wide public goods. You might want to email albert@stacks.ac to see if joining his next cohort would be a good fit. They are focusing exclusively on DeFi.
Best, Will
APPLICANT
Type: Direct Application
Email: adashifinance@gmail.com
Discord: Blockhero#9690
Twitter:
Stacks Forum: adashifinance
GRANT BASICS
Grant Name: Adashi Finance
Total Budget: 25,000
Total Duration: 3,360
Grant Type: Open Source Dev 1st time Grantees
Grant Track: Stacks Protocol
Grant Goal: Improve Existing Technologies
Grant Audience: End Users (Consumer)
Specific Audience: Our target market is individuals and organizations in Africa who are interested in participating in the DeFi ecosystem and earning passive income through staking. This includes Cryptocurrency holders and traders who are looking for new ways to earn passive income from their crypto holdings Investors who are interested in the potential returns that DeFi staking can offer, but may not have the time or expertise to actively manage their investments Financial institutions and fintech companies that are looking to offer staking-as-a-service to their clients Digital asset exchanges and wallet providers that want to offer staking options to their users Our target market is primarily located in Africa, although we may also target international users who are interested in staking African-based DeFi projects. Our target market is generally tech-savvy and has an understanding of cryptocurrency and blockchain technology, but we are also focused on making our platform accessible and user-friendly for users with varying levels of technical expertise including users who are financially excluded
Grant Team: blackalbino01, umarfarouqft
Previous Grants:
Ecosystem Programs:
GRANT MISSION, IMPACT, RISKS & REFERENCE
Grant Mission: By utilizing Stack Protocols, Adashi Finance can take advantage of the transparency and community-focused approach of the Stacks. This will help Adashi Finance establish trust and open communication with our users, leading to a more engaged and supportive community. Also, the use of Stack Protocols will provide us with a secure and scalable infrastructure, allowing for a more reliable and efficient platform. By being part of the Stacks ecosystem, Adashi Finance can also benefit from the collective knowledge and resources of the wider community, providing opportunities for growth and innovation.
Adashi Finance is looking for this grant support in order to build on Stacks Protocol and to take advantage of its security, scalability, and user-friendly design. Stacks will provide a platform for us to build our Dapp, allowing our users to interact with a secure and trustless financial system. This partnership will allow us to offer a product that leverages the robust infrastructure of Stacks, which is a highly-regarded blockchain platform in the DeFi space.
The Stacks community also stands to benefit from this partnership in several ways. Firstly, Adashi Finance's use of Stacks will help drive further adoption and growth of the Stacks ecosystem. As we grow and scale our operations, the underlying Stacks blockchain will experience increased use and exposure, potentially attracting new users and developers to the platform.
Additionally the grant will also provide new opportunities for collaboration between Adashi Finance and Stacks. This could include co-development of new features and functionalities, cross-promotion and marketing efforts, and the sharing of resources and expertise. These collaborations will help both entities to grow and expand their respective offerings, and further advance the development of DeFi services.
Grant Impact: Stacks can measure these metrics to ascertain our project success:
Grant Risks: We’ve identified a few risks involved with Adashi Finance implementing its grant, these include:
In order to overcome these risks, Adashi Finance would implement a comprehensive risk management plan that includes regular security audits, user testing and feedback, and ongoing development and improvement of the platform. Also, we will form strategic partnerships and engage in ongoing community outreach and education to promote awareness and understanding of Adashi Finance.
[Support Link:](https://www.figma.com/file/pITW1L1HlANVSIELfD5xgv/Adashi-DeFi?node-id=175%3A4577&t=y4ch1fhfsFIKLGyU-1 https://github.com/adashifinance www.adashi.finance) Our UI/UX design, Github repo and website links.
GRANT ROADMAP & DELIVERABLES
MILESTONE 1:
Deliverable: Milestone 1: Total Duration: 4 Months Launch the platform and onboard our first cohort of stakers - (3 Months) Roll out a user-friendly mobile app to make staking more accessible to a wider audience (1 Month) Implement a referral program to encourage platform adoption and growth - (1 Month) Secure liquidity funds for the platform - (3 Months)
MILESTONE 2:
Deliverable: Milestone 2: Total Duration: 3 Months Collaborate with other DeFi and Blockchain projects on Axelar to offer staking options for their native tokens - (3 Months) Develop educational resources and programs to promote financial literacy and increase understanding of DeFi among the general public - (3 Months) Marketing, Promotion and Building Community around Adashi Finance project, mobile app, tokens etc
FINAL DELIVERABLE
Deliverable: MVP with active users