Executive Summary: As the Cardano blockchain marches toward the Goguen era, interest has soared. A number of projects have undergone initial development which promise the evolution of a vibrant ecosystem. Of particular interest today are decentralized and centralized finance solutions. For example, the liqwid token (LQ) intends to provide extraordinary products in the domain of decentralized lending. Celsius (CEL) has expressed interest in becoming a multi chain product with a Cardano deployment as a centralized lending product. A Uniswap clone was demoed during the latest Cardano 360 update. Cardano is committed to interchain operability and integration. Nonetheless, that interoperability is unavailable for many assets. We see opportunity in providing wrapped versions of assets not currently available to users on Cardano. We argue these wrapped assets will complement the financial solutions described above. Further, we argue these wrapped assets provide superior user experiences than those found in their native environments. We intend to deploy wrapped versions of Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Uniswap (UNI), and Polkadot (DOT) to the Cardano blockchain during our first year of operation. We will follow up with the expansion of our catalog into other popular assets, including physical assets. Whitepaper: https://docs.google.com/document/d/1lHjkrEdgoGS8KHoGk3XfLo3Xut5lCThkOxEs1Z7ekS0/edit?usp=sharing Cost breakdown: 1 year burn rate of $485k https://docs.google.com/spreadsheets/d/1Kx-xLiPzkippsZelaJ5D7rYT7mLb_kFm4rqBX5y-cYU/edit?usp=sharing We are seeking 4 months of runway. $150,000 Branding and Positioning:‘The Coinbase of Asset Wrapping’ We seek to provide asset wrapping to the broader population, to professional entities such as lenders and exchanges, and to early adopter crypto currency enthusiasts. Team:
- Isaac Martin CEO/Backend Engineering Linkedin: https://www.linkedin.com/in/isaacgmartin/ About 8 years cofounding and participating in various startups around the Bay Area. Over 10 years in technical product development. Multiple successful ventures under his belt. Currently in SF.
- Niko Booth UX Design/Product Linkedin: https://www.linkedin.com/in/niko-booth/ A skilled UX designer who has participated in a number of interesting projects around SF. Particularly interesting is his work at Code for San Francisco (Code for America) and Likemindedly. Located in San Francisco.
- Jesper Hägglund Full Stack Engineer Linkedin: https://www.linkedin.com/in/jesper-h%C3%A4gglund-961536138/ An experienced full stack engineer teaching us all the best ways to efficiently develop and maintain native applications across platforms. Hails from Sweden.
- Engineering position will be opened upon funding.
- Engineering position will be opened upon funding.
- Designer (graphics/aesthetics) opened upon funding. Funding Sources:
Catalyst We seek 150k to stand ourselves up. Crowdfunding We will engage in a crowdfunding campaign raising funds through the sale of tokens. The tokens will provide a discount for the use of our services. Higher levels of token ownership will provide large discounts.
Deliverables for first 4 months:
Finalize partnerships with custodians. Recruit two additional engineers. Implement low-fidelity proof of concept. Begin testing assumptions (lean startup). Complete high fidelity wireframes for MVP. Begin implementation of MVP (Consumer product) Finalize tokenomics plan. Crowdfunding campaign to fund future operations.