[IMPACT]
The main features will be staking of the token to produce a liquid return for the investor that will be bonded and unbonded. The next feature is the ability to lock the token and get a pertcentage ownership of the project. The smart contract will lock the funds in a transparent manner for the hold period that was disclosed in the operating memorandum. The audience that the project is intended is investors that have made profits in cryptocurrency and looking for yield in a hard asset backed asset. We would like to help investors build financial sovereignty. The other group of investors that we would like in the ecosystem is someone that has a moderate to large cryptocurrency portfolio that can borrow on from a defi platform such as meld that can produce a high yield in addtion to the appreciation of the token. The final investor is someone that is interested in buying and trading the token where they can lock the purchased token in for the hold period. The impact is substantial where we can grow the wealth of the investor and have sponosors acceess to fast, cheap capital. The other aspect of this token is that this project will be under the umbrella of RT park which is a tax benefit program in the United States, Virgin Islands which will decrease the tax burden by 90%. Our hope is to pass these savings onto the investors and sponsors.
The platform brings investors and sponors together to solve the problem of getting funding efficiently and quickly for self-storage facilities. We will use marketing to help get the community interested in the different projects and provide transparency for the investment on the platform. The first step in the primary phase is to get the white paper completed. We are confident we can get this completed in on month. The staking portion of the platform is set to launch on September 1st and have the goal of having 10 million dollars worth of STOR Token on the platform one month after launch. I plan to start a youtube channel to be completely tranparent and communicate to our community. We also plan to go a podcast/youtube tour to get the word out for the project.
There are two main challenges are 1:) security of the systerm (we plan to have the platform audited to help make sure the platform is secure) 2:) Compliance with the SEC - We plan to work closely with an SEC securities attorney to make sure the compliance is obtained. We take this aspect of the platform very seriously. It seems at this point that US based self-storage facilities will need to be registered as a 506c security and plan to have the paperwork completed on the platfrom.
[FEASIBILITY]
The above is the link to the canvas in Miro to the solution to the proposed problem statement.
1:) Project Coordination. Whitepaper: Analysis, Research and Development, Tokenomics Exploration, Tech: UX design, Requirements Refinement, System Architecture - April 1st - $37,000
2.) UI Design, Backend API's, Screens Implemented, Onboarding , Signup, Authentication, Verification - May 1st - $37,000
3.) Website Development and Refinement, Wallet Creation, Inferface, Queries for Token Holders amounts, Creator Token Queries, DEX Listings, DEX Token Value Queries in USD (trading monitoring) - June 1st - $37,000
4.) Completion of application required features determined per requirements and approved wireframes. July 1st - $37,000
5.) Marketing for the first year , setting up a youtube channel, visiting other youtube channels to get help investors understand the platform and how to navigate it - $30,000
Joseph Ryan Smolarz - My expericence is disclosed above
Contracted developement team - The contracted development team has been hired. The team is experienced in blockchain and token development as has launch other projects. There is a lead developer that hires the subcontractors for the Haskell and Plutus code. There is a tokenomics expert on the team as well as a security advisor. We plan to build the team exponentially once the token is launch and funds are raised to move to the second phase of the project.
[AUDITABILITY]
1.) Whitepaper completion
2:) 300 hours spent on the development
3:) Token launch on or before September 1st
4:) TVL at or above 10 million by the end of the year
Success looks like a completed white paper in one month to be delivered to catalyst for the ecosystem to review. After the tokenomics have been completed the launch of a secure platform in September and the funding secured to be able to develop the entire second phase. The TVL we are striving for is 10 million. The second phase will include the smart contract platform for self-storage fund raising. We hope to launch the full product in 12 to 18 months.
This is an entirely new project.