Please describe your proposed solution.
<u>What is ROVI.money?</u>
ROVI.money is a super simple, super fun non-custodial wallet for masses to bring next billion users to Crypto. Create wallet in 1 click on a unique nickname. Share wallet on Messaging or Social. Buy/Sell tokens across chains with on-ramp/off-ramp in 120+ countries. Send/Transfer tokens across chains. Pay fiat at any offline shop (available in India only currently). Use tokens on highly addictive social gaming tournaments and become part of social gaming community.
<u>Problem</u>
Crypto and Web3 is too complex for a normal mass user demography. There is complexity in 1st generation Web3 wallets usage, complexity in gas fees payable in different tokens, and complex fiat-to-crypto and crypto-to-fiat rails for a normal mass user to adopt easily.
<u>Solution</u>
Build super simple, and super fun wallet with daily usage utlities to unlock scale. Through this critical infrastructure, bring best of Web2 experiences to Web3 and bring Crypto as a utility piggybacking upon existing daily life behaviour of masses.
<u>Why this team?</u>
ROVI Network team is a highly talented and experienced team, led by 4 times repeat Founders with 20+ years of experience, having built multiple successful distribution led scalable and sustainable businesses in the past. Previous products built by this team reached 30M+ users organically.
<u>Project Impact/Existing Traction</u>
Within 1 week of private alpha launch, 1500+ wallets and nicknames have been claimed. The full blown launch is scheduled for 20th July, 2023.
See live alpha product –>
<https://www.rovi.money>
<u>Why is this important to Cardano?</u>
Cardano ecosystem needs Dapps and utilities which can help them reach masses at scale, along with more daily life utilities for normal folks on ADA token.
With ROVI.money supporting Cardano chain and porting their transactions layer on to Cardano blockchain, it can immensely help bringing Cardano chain on Steroids in terms of transactional volumes, wallets, users and activity/adoption from the backstage.
<u>Business Model</u>
ROVI.money is a transactional platform from Day 0 with time tested proven business models of B2C and B2B commissions/spreads/take-rates.
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<u>Transaction Commissions</u> - Paid by games. 1%-10% commission per game-contest/game-pool
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<u>Trade Commissions</u> - Paid by users of network. 0.5%-5% commission per buy/sell/swap depending on digital asset
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<u>Investment Spreads</u> - Paid by users. Upto 5% spreads for high quality, super simplified DeFi investment strategies in digital assets
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<u>Payment Spreads</u> - Paid by fiat payment networks. Up to 1% spreads on every payment by user in real world.
How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?
<u>Impact/Value to Cardano Ecosystem</u>
The proposal is to integrate Cardano blockchain in ROVI.money wallet, enable Cardano chain tokens including ADA for buy/sell/send/transfer/swap and integrate ADA token as a utlity to social gaming ecosystem inside wallet.
The immediate impact and value to Cardano ecosystem would be –> huge immediate scale in terms of # of transactions, # of unique wallets and # of unique transacting users on the chain.
<u>How do we quantify value?</u>
We already have a runrate of 4-5M transactions/month on-chain on a L2 on our ecosystem products, where ROVI.money wallet would be integrated. Our proposal is to add Cardano as the new blockchain supported in wallet and use it to publish transactions generated from new users activity on the platform as well. We will achieve to bring 50,000 new unique users/wallets, doing atleast 0.5M+ transactions a month on-chain on Cardano within 2 months post our deployment as a proof of concept.
How do you intend to measure the success of your project?
<u>Why are measures realistic?</u>
ROVI Network ecosystem products already has done 14M+ transactions on a L2 chain. Please see below for on-chain verifiable activity. Our proposed deliverables vis-a-vis what we already generate in terms of transactional activity on our platform are quite realistic as is evident.
- See live token action –>
<https://blockexplorer.bnb.boba.network/token/0xCc503242b574BC01145Da7E2A743b43fB395eC91/token-transfers>
<https://blockexplorer.bnb.boba.network/token/0xa88D4d3a623B07Af04b6641A5a72797FA52d478b/token-transfers>
- See live analytics –>
https://analytics.rovi.network
<u>Success Criteria</u>
The success of the project would be measured on very simple objective parameters - # of new unique wallets created, attributed to ROVI.money, in 2 months post our completion. Based on the results achieved, it will set foundation for a more larger, deeper collaboration between Cardano and ROVI.money
Please describe your plans to share the outputs and results of your project?
<u>How do we spread output?</u>
We have identified and proposed clear milestones and timelines along with action items spread over a period of 2 months - which can be viewed in the milestones section of our proposal.
<u>How will we share outputs?</u>
We will share outputs through clear verifiable on-chain reporting (through chain querying) as well as appropriate links to chain explorers
<u>With whom will be share outputs?</u>
We will share outputs with the community forums or community manager/POC as appropriate.
<u>What opportunities might arise out of the project output?</u>
Post our completion of all milestones, the above proposed measurable output serves as a POC for ecosystem to see what value ROVI.money wallet ecosystem can bring to Cardano ecosystem in terms of user scale, transaction scale. This will serve as a base to further evaluate and engage in larger deeper collaborations towards a much large vision and goal of bringing millions of new users and billions of transactions to Cardano ecosystem.
<u>How would results get used further?</u>
The results from this POC project would help us evaluate and design/develop further solutions and enhancements around transaction performance, further ease of onboarding and making things ready for millions of user scale.