[IMPACT] Please describe your proposed solution.
This escrow aims to solve the need for a consumer and provider protection when paying for goods and services that are not verifiable on chain(realfi).
We will use a smart contract where both users will deposit collateral, and at any moment, any party can burn the funds. This forces both parties to be truthful and collaborative with one another. The reason why both need to be slashed is to force the slasher to try collab with one another because they have a economic incentive to not be malicious just to hurt the other.
This Student escrow will help students and startups with low development funds. It will also help countries with low accountability on the ability they may fulfill services.
This escrow will use Cardano's tools of smart contracts
It will be hosted on its own separate domain, with its own art style, educational content, and infographics.
This will benefit students and individuals with less funds. This may be applied to a lot of developing countries who don't have access to banking or don t trust it, but still want to pay for goods and services online.
[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.
This escrow improves the accountability of developers and workers that students and startups led by young people hire.
[IMPACT] What are the main risks that could prevent you from delivering the project successfully and please explain how you will mitigate each risk?
The main risk is that it may be the ability to run the project in a way that the project is self sustaining.
We will have to plan carefully on how to market this service so that it can build a large user base to pay for server costs, freelancers, marketing, smart contract audits, and product updates.
We will need to plan ahead of time how to execute and build this contract in the most timely manner to save on costs and time to begin marketing. Also we will need to reach out to partner with organizations in Cardano that have a vested interest in using a service such as this proposal in Africa.
[FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.
Week 1
Planning and research
Week 2
Domain and front end
Week 3
Backend
Week 4
Haskell and smart contracts
And debugging and testing
Week 5
Marketing and art and product polishing
Also launch three days after end of week 5
[FEASIBILITY] Please provide a detailed budget breakdown.
Server and domain cost: 500 usd
Artist and front end costs: 1000 usd
Backend:2000 usd
Smart Contract development:2500usd
[FEASIBILITY] Please provide details of the people who will work on the project.
@NaluKicks on twitter also Known as Evan is experienced in marketing and coordinating project timelines and marketing strategies for lending pond since launch date.
Billy Wang (not public)currently works on lending pond as a smart contract developer for the past 3 months
[FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.
Our team most likely can complete this project with an one time funding through careful planning and budgeting.
[AUDITABILITY] Please describe what you will measure to track your project's progress, and how will you measure these?
We host bi weekly twitter spaces and take an note of the # of attenders.
Also will take an account of twitter and discord server growth.
[AUDITABILITY] What does success for this project look like?
We will have 100 student led projects that pay for goods and salaries to team members using this escrow app.
There will be a mix of both NFT projects and Defi projects that use this tool. Both employer and provider will feel more security from being payed using this service rather than trusting the employer or the worker's promise to fulfill and commit.
[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.
This is an entirely new proposal
Sustainable Development Goals (SDG) Rating
SDG goals:
Goal 8. Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Goal 17. Strengthen the means of implementation and revitalize the Global Partnership for Sustainable Development
SDG subgoals:
17.9 Enhance international support for implementing effective and targeted capacity-building in developing countries to support national plans to implement all the Sustainable Development Goals, including through North-South, South-South and triangular cooperation
Key Performance Indicator (KPI):
17.9.1 Dollar value of financial and technical assistance (including through North-South, South‑South and triangular cooperation) committed to developing countries
#proposertoolsdg
