not approved

African Digital Banks Network

₳2,000,000.00 Requested
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Community Review Results (1 reviewers)
Impact / Alignment
Feasibility
Auditability
Problem:

How do we on-board the unbanked without offering financial services?

How much would it take to incorporate and expand a crypto-first financial institution in Africa?

How can DAOs raise this capital?

Yes Votes:
₳ 18,908,901
No Votes:
₳ 135,181,051
Votes Cast:
358

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Why is it important?

The adoption of Cardano is hindered by the lack of easy on-off ramps in Africa. Users are charged 3% or more to send funds to an Exchange.

What does success look like?

Catalyst funds the operating capital while DAOs allow the Cardano community to fund the required central bank deposit for this institution

Key Metrics to measure

  • Detailed plan for the establishment of a financial institution in targeted region

  • Detailed financial projections

  • Focus on the unbanked (rural, farmers, etc.)

  • Promote adoption of Cardano

  • Sound African banking experience.

    Challenge brief

Financial services can be compared to charging stations in the crypto ecosystems. Adoption relies on easy on-off crypto-fiat ramps until crypto currencies are used as means of payment.

This challenge will allocate 1/4 of the funds are working capital to the winning proposal and 3/4 as the required deposit for obtaining Electronic Money Institution licensing in targeted countries.

The successful proposal would obtain 500,000 Ada as grant and the remaining 1,500,000 will be reimbursed to the treasury after a period of 5 years through funding rounds within the Cardano community.

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Playlist

  • EP2: epoch_length

    Authored by: Darlington Kofa

    3分 24秒
    Darlington Kofa
  • EP1: 'd' parameter

    Authored by: Darlington Kofa

    4分 3秒
    Darlington Kofa
  • EP3: key_deposit

    Authored by: Darlington Kofa

    3分 48秒
    Darlington Kofa
  • EP4: epoch_no

    Authored by: Darlington Kofa

    2分 16秒
    Darlington Kofa
  • EP5: max_block_size

    Authored by: Darlington Kofa

    3分 14秒
    Darlington Kofa
  • EP6: pool_deposit

    Authored by: Darlington Kofa

    3分 19秒
    Darlington Kofa
  • EP7: max_tx_size

    Authored by: Darlington Kofa

    4分 59秒
    Darlington Kofa
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