[IMPACT] Please describe your proposed solution.
Lending Pond will use NFT collateralization/token collateralization each time a individual borrows a NFT. The collateral will deposited into a smart contract, and the borrower of the NFT can return the NFT and rent payment to retrieve their collateral.
This Renting Platform will be 100% functional and open for any nft project or user to use. It will be designed and branded by lending pond. There will also be several partnerships with NFT projects to promote using smart contracts vs using a traditional escrow system.
[IMPACT] Please describe how your proposed solution will address the Challenge that you have submitted it in.
A NFT renting platform will be able to integrate with many different NFT projects that require a NFT to play or move to the next level. Generally this tool will be most beneficial toward games with in game economies.
[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 biggest risk is ensuring that the Plutus scripts are safe and resistant to hacks. It will be important to spend extra time and funds to ensuring security.
[FEASIBILITY] Please provide a detailed plan, including timeline and key milestones for delivering your proposal.
August 1st: coding
September 1st: Testing for two weeks and audit
September 15th: launch
September 15th: reach out to top 30 play to earn games
[FEASIBILITY] Please provide a detailed budget breakdown.
20000 towards audit
8000 towards development costs for coding
2000 towards server costs, and marketing, and helping projects onboard
[FEASIBILITY] Please provide details of the people who will work on the project.
Lending Pond team has built and delivered many successful NFT features and services in the past:
- Lending Pond: lendingpond.app
- Loan to value ration: https://lendingpond.app/lend
Lending Pond is experienced in being able to plan, research, and implement NFT tools and services to the Cardano ecosystem at a efficient, quick, and at a high level. Our skills and abilities were best proven as Lending Pond is the first and only functional Lending Platform on Cardano to be on mainnet.
[FEASIBILITY] If you are funded, will you return to Catalyst in a later round for further funding? Please explain why / why not.
no,
because based on our careful planning, we feel confident to complete the project with the requested amount funds.
[AUDITABILITY] Please describe what you will measure to track your project’s progress, and how will you measure these?
we will measure success based on the number of rentals every week, and the number of partnered play to earn games.
[AUDITABILITY] What does success for this project look like?
10 play to earn game partnerships
and over 100 rents a week
[AUDITABILITY] Please provide information on whether this proposal is a continuation of a previously funded project in Catalyst or an entirely new one.
this a entirely new proposal
Sustainable Development Goals (SDG) Rating
SDG goals:
End poverty in all its forms everywhere
Ensure healthy lives and promote well-being for all at all ages
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Build resilient infrastructure, promote inclusive and sustainable industrialization and foster innovation
SDG subgoals:
By 2030, ensure that all men and women, in particular the poor and the vulnerable, have equal rights to economic resources, as well as access to basic services, ownership and control over land and other forms of property, inheritance, natural resources, appropriate new technology and financial services, including microfinance
Achieve higher levels of economic productivity through diversification, technological upgrading and innovation, including through a focus on high-value added and labour-intensive sectors
Develop quality, reliable, sustainable and resilient infrastructure, including regional and transborder infrastructure, to support economic development and human well-being, with a focus on affordable and equitable access for all
Key Performance Indicator (KPI):
Annual growth rate of real GDP per employed person
Passenger and freight volumes, by mode of transport
Proportion of population living in households with access to basic services
Universal Human Rights Index (UHRI):
#proposertoolsdg