[IMPACT]
Getting into crypto is quite complicated and time-consuming right now. You need a somewhat deep understanding of economics, philosophy and even trading. Let's change that with a new exchange concept:
Exchanges have a design very similar to a stock market from TradFi. That's understandable as a first form of design - the crypto space used to be niche, and people involved in it were dedicated crypto lovers or traders. That's not the case anymore. Normal people (Normies) now do want to own crypto. But most of them don't have the time to learn all the skills necessary and to follow the market 24/7. There's huge demand for a simple-to-use exchange that allows you to pick traders and leverage their knowledge and specialization instead of doing it all by yourself. The way it works today is simply not efficient. Specialization of work is the basis of capitalism. As Adam Smith would put it: "It is the great multiplication of the productions of all the different arts, in consequence of the division of labour, which occasions that universal opulence which extends itself to the lowest ranks of the people.".
Normies are nowadays desperate following non-transparent youtube gurus, paying for telegram groups and losing at lot of their money by being bad traders. They are not traders, and we shouldn't pretend they are.
Main Features: Mobile APP that allows you to buy tokens from traders. The tokens are a tokenization of a trader's portoflio, which serves as the "standard" for the token. If the trader trades well and his portfolio grows value, so does the token. In order to issue new tokens, a trader must increase their portoflio. Dolars used to be backed by gold and trader's coins are backed by their portfolio. Get it?
NITI is a mobile-first exchange that allows good traders to monetized their abilities and allows normies to pick traders based off actual performance. Everything is 100% transparent - NITI IS A KYC PLATFORM. Traders must show their real faces and names. We're a RealFi company. We're not focused on the crypto idealist market, but the actual huge market for safe, simple ownership and trading of crypto. Of course there's huge demand for anonymous financial solutions, but that's not the market we're in. We're in the "simple, cheap and safe to use" market. We are making that trade-off. We welcome professional traders and unprofessional buyers.
NITI will make use of a new technology: non-crypto NFTs. The JPEG is actually the NFT. That means zero trading fees for traders, whose portfolios are actually a non-crypto NFT that we call "YE", a YE is like a bank check, holding a portfolio inside of it (that's a very hard concept to explain here, future video incoming to YouTube channel), no lock-ins (traders can trade shares of their portfolio anywhere, with anyone, even in group chats, email, etc) and instant (web speed) transactions. Normies will have to pay a small transaction fee (ADA's transaction fee, we charge nothing), but only once when they buy the trader's token, all of the heavy trading done by the traders will be completely fee-less, which makes our design orders of magnitude more efficient than current exchanges.
NITI has an open-source core, called "Nitium". All of the core backend code will be open-source, so everyone can check our code, contribute to it or use for themselves, but our mobile app won't be. That means anyone that likes this concept will be 100% able to get production-ready code and do their own UI, so your investment in us will definitively be an investment in the community. But there's no need to have our frontend open-sourced. That being said, we will make everything open-source eventually, when the user base is big enough. I predict 5 years from now 100% of NITI will be open-source.
We'll develop the company using Plutus, Marlowe and Flutter. Being Brazilian I can guarantee you it's not going to be easy to find cheap developers that know Haskell anb Flutter here. We'll need to hire somewhat expensive experts and train young developers. That's not easy to do and it requires a bit of money. Brazilian labor is very cheap, so 50000 USD will make a tremendous diference to us.
Regulation: We simply accepted that we're going to follow it. We're even prepared for future regulation. That being said, the current Brazilian president is very much for-crypto, and everything indicates that crypto will be very well regulated over here. It seems to unite both the left and the right wing parties in Brazil. That being said, it's always an unknown. That's why not only we're going to follow financial regulation, we're even going to follow what we think will be the regulation in the future. Remember: it's incredibly important to have full anonymous financial services, but that's not our market. That being said, we'll be run 100% in Web3.0 and have a open-source core - there's no way to stop NITI onde Nitium is done. We need to get it done. That's why we need the money.
[FEASIBILITY]
If we can get the funding, the whole project is going to be in beta stage in September, we estimate. Alpha version of Nitium and of the mobile app will be done by July. Our website is almost done, and is going be live in March. Without the funding, it will take us more time, but we're still going to get it done. But it would probably be done only in February, 2023. It is hard to give predictions for a project like this, specially when Cardano is evolving so fast, but we're pretty sure that we can get the Beta out in September with the funding.
Out of the 65k, about 10k will be used for marketing purposes. We need to build a community, specially of traders, before September. Our token distribution is a little "odd", but effective: We're going to have multiple "ICOs", probably once a month after Sep/21 (only about 25% of all $NITI that will ever exist will be sold). The company will have 20% of the NITI tokens and the founders only 15%. We feel is very important that the founders should participate in the ICOs just like everyone else. If we own too much of the company without buying it ourselves, we would have too much control over the price, and the market wouldn't be healthy. 15% sounds like a fair share for all of our work - specially in a market where is common to see founders owning 80%, 70% of the tokens. After the ICOs (25 months), you can "mine" a $NITI by staking it. They come inside a #YE, our NFT solution (So you mine both). 40% of all NITI will be mined, and 25% will be sold in the ICOs (1% each month, for 2 years and 1 month). The first ICO will happen in September/2022, that's our deadline. If the product isn't ready by then, it would hurt the company. That's a good incentive to keep things simple and focused. That's what we're going to do.
My name is Pedro Novaes, I'm the CEO of NITI. I was born in Brazil, studied Industrial Engineering in the Escola Politécnica da Universidade de São Paulo (POLI-USP), rated as the #1 engineering in Latin America. I'm graduated in Business from the Faculdade de Economia e Administração da Universidade de São Paulo (FEA-USP), also considered the best business school in Latin America. My first job ever was at Nestlé, in the Blockchain and Artificial Intelligence department. I got into the business because of Ben Goertzel, who made me fall in love with AI. Little did I know, the job involved very little work with AI and a lot of "explaining to managers how we could leverage blockchain" at Nestlé. They only saw blockchain as a marketing tool. They couldn't take it seriously, they didn't see the bigger picture. I fired myself and decided to do my own project in Blokchain. And now I'm here, asking for your ideas, your support and guidance.
[AUDITABILITY]
If we get this funding, I'll make videos weekly and post them on social media sharing what was done in that week. Github commits will certainly be a huge metric for Nitium, the open-source core. But, we also have a lot of work to do when it comes to the mobile app, the marketing - and that's not so easily measured by commits. We believe in full transparency. I'm always going to dedicate 45 min. every week just to talk to my token holders, answer questions, debate. Everything we do will be as transparent as possible. I work incredibly hard, at least 12h a day, 5 days a week. Documenting that will be great for the token holders and will be great incentive to keep the work focused in what really matters: creating value for the token holders.
Beta of Nitium and the mobile app done by September/2022. Also, a good, healthy community of at least 5000 people to participate in the first ICO.
Completely new.