Please describe your proposed solution.
<u>What is ROVI Network?</u>
ROVI Network is a Web3 Mass Distribution Platform to bring next Billion users to Crypto. The ecosystem is equipped with highly rich on-chain transactional data of mass users and is an open network for any high utility, high quality Web3/Crypto use-case to plug into and leverage the distribution. ROVI Network is powered by $ROVI token at the heart of its Web3 ecosystem.
<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 critical infrastructure to bring best of Web2 experiences to Web3. 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 6 months of token launch on Ethereum and transactional layer on a L2 chain, ROVI Network dapps have become #1 across all chains on L2 protocol with 200K+ wallets, 14M+ on-chain transactions, revenue positive, super high user engagement of 50 mins+ every month, 2+ times avg dapp opens per day and growing fast! (as of 10th July, 2023).
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>ROVI Network Ecosystem Products - Infrastructure</u>
1) Rovi.money - World's simplest and safest 1-click, non-custodial, social wallet. Shareable and usable on Messaging/Email/wherever via a simple link! Equipped with on-ramp/off-ramp to convert fiat to crypto or crypto to fiat in 200+ countries. Supercharged by an ecosystem to utilize tokens on multiple daily life utilities starting with highly addictive casual social games
2) Gasless Transaction Engine - A completely gasless transaction infrastructure to allow users to make Crypto transactions across any chain, just like paying shipping fees while checking out on Amazon, using $ROVI native token only.
<u>ROVI Network Ecosystem Products - Dapps</u>
1) ROVI Crypto Daily Use Superapp - Get Rewards (attention currency) for time spent on WhatsApp, Gaming or on making fiat payments on local shops! Spend Rewards to get discounts on various daily life utilities (like bills, shopping, lifestyle, gaming, financial services). Any high utility, high quality Web3 utility can plug into the superapp ecosystem through various APIs and modules available.
2) ROVI Crypto Keyboard - Setup AI Android keyboard in 2 clicks and start earning Rewards (attention currency) on any Messenger of the world inclusing Whatsapp, Telegram, Wechat, Kakao, Line etc!
Explore ROVI Network Dapps from below links :
ROVI Crypto Superapp —> <https://play.google.com/store/apps/details?id=com.money91>
ROVI Crypto Keyboard —> <https://play.google.com/store/apps/details?id=com.kb91>
<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 Network's solutions, 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 Network 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 businesses/utilities. 1%-30% commission per transaction/sale for accessing highly targeted distribution
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<u>Trade Commissions</u> - Paid by users of network. 0.5%-5% commission per trade depending on digital asset
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<u>Gaming Spreads and Commissions</u> - Paid by users of network. 1%-10% commission per gaming contest or game pool
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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.
<u>Token Value Accrual</u>
$ROVI has a fixed supply of 1B tokens. The token is deflationary as 30% of all $ROVI token revenues generated from ecosystem products is burnt monthly (starting from July 2023). The token revenue burn will continue till at least 60% of token supply comes in circulation. The tokens can either be bought from the market OR minted by converting ecosystem Rewards to tokens. The minting can happen only if user has spent on the ecosystem on various daily life utilities. The price of conversion (from Rewards to $ROVI) keeps increasing month on month, depending on how much supply is in circulation. The current rate of conversion is 95 Rewards == 1 $ ROVI token (as on July 2023).
<u>Token Utility - Demand from Users</u>
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Use token in Utilities, Games, Shopping - Get discounts on bills, shops, services. Play token gated games. Access token gated utilities.
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Get Ecosystem Privileges - Token holders will ultimately pay less commission fees, less gas fess, get higher rewards minting power.
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Get Staking Rewards - Stake tokens and get attractive rewards from staking pool driven by platform revenues.
<u>Token Utility - Demand from Businesses</u>
Businesses buy tokens from the market to access highly targeted, large mass distribution in 1-click, powered by highly rich on-chain user behaviour and transactional data!
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Highly Targeted Distibution - Think "Cost per click" paid in $ROVI tokens to access distribution
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Pay for Transactions - Think "Cost per Sale" paid in $ROVI tokens.
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Highly customized placements - Think "Cost per impression" paid in $ROVI tokens
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 Network products, and use Cardano as the transactional layer for all token transactions that happen in the ecosystem.
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 which we currently support. Our proposal is to add Cardano as the new blockchain supported and use it to publish transactions generated from new users activity on the platform. We will achieve to bring 15000 new unique users/wallets, doing 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 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 and # of transactions on-chain, attributed to ROVI Network, 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 ecosystems.
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 3 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) at https://analytics.rovi.network 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 distribution network can bring to Cardano ecosystem in terms os 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.