Autify Network: Ecosystem Grant Draft Proposal

  • Title - [Autify Network]: Ecosystem Grant Draft Proposal

  • Author - Autify Network Team

  • TLDR -

    • Primary Goal- Maintain and Grow Activity (active users, transactions, TVL).

    • Project Description - Markets and supply chain distribution today are more expansive and global in nature than ever before in history. The advent of e-commerce has allowed products to be sold and shipped to almost anywhere in the world. Consumers today have the power to view and order any product online at any time of the day and from anywhere in the world.

      Manufacturers work to keep up with the demand and are constantly looking for ways to reduce costs through substandard manufacturing and low-cost supply of materials and components. These global opportunities however have created and encouraged the growth of counterfeit goods and the theft of companies’ intellectual property.

      We are developing a revolutionary trust protocol that leverages the power of blockchain and AI to increase transparency in both the global supply chain and retail industry. By doing so, we aim to eliminate the inefficiencies currently plaguing and poised to transform commerce and supply chain operations for businesses worldwide. We aim to become the universal symbol of truth for consumers, brands and enterprises.

      We are addressing an extremely complex problem that affects companies worldwide, resulting in losses exceeding $10 trillion due to supply chain inefficiencies, counterfeiting, and a lack of transparency. We aim to tackle these issues by developing innovative solutions that improve supply chain efficiency, reduce losses, and enhance transparency for businesses and their customers.

      Supply chain management:

      We are building an end-to-end supply chain management platform for businesses to manage the flow of goods and services from the point of origin to the point of consumption. Our platform will provide real-time visibility into the movement of goods and enable businesses to adapt to changes in demand or supply quickly. They can also help reduce costs and improve efficiency by automating routine tasks and streamlining workflows.

      • Inventory management
      • Order management
      • Transportation management
      • Warehouse management
      • Supplier management
      • Demand planning
      • Analytics and Reporting

      Supply chain traceability:

      We are building a supply chain traceability platform to track the provenance of goods, including their origin, movement, and ownership. This can help to prevent counterfeiting and ensure the authenticity and quality of products. Our Platform will make it possible for different actors along the supply chain to have different roles and privileges.

      Our system will provide real-time tracking of all players involved in the product journey from field to end consumer. By simply scanning a QR or NFC code, customers can easily access all relevant details about the product.

      We will keep a permanent and immutable record of transactions, which can help to prevent fraud, tampering, and errors in supply chain data. Supply chain participants can reduce the time and cost associated with tracking and verifying the authenticity of goods, and improve the efficiency of supply chain operations.

      In addition to the supply chain management and traceability platform, we are also building several other innovative products:

      Sustainability track and trace: Our sustainability track and trace solution will allow companies to track the environmental and social impact of their supply chains, including carbon emissions, water usage, and labour standards. By providing transparent and verifiable sustainability data, we can help companies meet their sustainability goals and improve their reputation with consumers.

      Autify Verified Vendors Marketplace: Our verified vendor’s marketplace will provide a trusted platform for companies to find and connect with verified suppliers and service providers. By using blockchain-based identity verification and reputation scoring, we can ensure the reliability and quality of our vendors and simplify the procurement process for our clients.

      API Platform for eCommerce platforms: Our API platform will enable eCommerce platforms to integrate our blockchain-based traceability and sustainability solutions into their existing systems. This will allow eCommerce companies to provide greater transparency and value to their customers, while also enhancing their own sustainability and traceability efforts.

      Integrating AI and Computer Vision for automation: We are leveraging the power of AI and computer vision to improve item tracking and identification within the supply chain. This will enable us to provide more accurate and efficient traceability solutions and help our clients to reduce losses and improve inventory management.

      B2B Cross Border Payment Module: Our cross-border payment platform will allow businesses to make secure and efficient payments across borders. By eliminating intermediaries and reducing transaction costs, we can help businesses to expand their global reach and streamline their international operations.

  • Requested GLMR Grant Amount - [1mm GLMR]

    • Use of Grant - The funds from this grant will be used to support the growth and development of our startup, with a particular focus on team expansion, tech infrastructure, branding and marketing, market expansion, customer onboarding, and legal costs.

      Specifically, we plan to use 60% of the funds to accelerate the development of our products, improve tech infrastructure, improve the scalability and performance of our platform, and enhance security and reliability.

      Additionally, we plan to use 15% of the funds to onboard more customers, expand our reach globally, and increase our brand visibility and reach through targeted marketing campaigns and PR efforts.

      We will also use 15% of the funds to enhance the user experience (designing a user-friendly interface that is optimized for mobile devices, email-based login, responsive dashboards, and other mobile-specific elements), improve our customer onboarding process, with a focus on delivering a seamless and personalized experience to our clients.

      Finally, we plan to allocate a portion of the funds to cover legal and regulatory costs associated with our operations and compliance efforts.

    • Motivation for Grant Amount- We believe that our solutions (blockchain supply chain management and traceability) are uniquely positioned to address some of the most pressing challenges facing the global supply chain industry, including issues related to transparency, sustainability, and efficiency.

      By leveraging the power of blockchain technology, we can provide a secure, transparent, and decentralized platform that enables end-to-end traceability and accountability across the supply chain. Our solution not only provides benefits to businesses and organizations but also promotes environmental and social sustainability through transparent reporting of sustainability metrics.

      We are committed to creating an ecosystem of trust and reliability in the supply chain industry by verifying vendors and providing a marketplace for verified suppliers. Our startup is poised to make a significant impact in the industry, and we believe that support from the community would enable us to accelerate our growth trajectory and deliver even greater value to our customers and partners. With your help, we can drive positive change in the industry and promote sustainable and ethical practices throughout the global supply chain.

      Also, We are onboarding 500+ B2B customers from India, Southeast Asia, the Middle East, Europe, and Australia and aim to process a few million transactions every month on the platform.

  • Project Overview and Relevant KPIs - Graduated from India blockchain accelerator by the Government of India, ZilHive, Stellar Community Fund, Celo camp and Hatch Web3 Accelerator.

    Onboarded Vijay Pravin (BitsCrunch), Keyur Shah (Ex-CFO Polygon) & Ajeet Khurana (Reflexical) as an advisor with 20+ years of experience in Tech, business, Legal etc.

    Autify Network was covered in Forbes, YourStory Media, AP News, Digital Journal and 400+ publications in Feb 2023.

    Our recent rebranding campaign receive more than 1.5 million impressions and over 1000 people showed their support for our efforts.

    Onboarding 100+ fashion & luxury brands for the upcoming Beta launch. Mapped out the information of 18,000 B2B brands, manufacturers & suppliers globally.

    Autify Network has been chosen as part of the prestigious Top 25 Web3 Innovations list curated by YourStory and Buidlers Tribe from 1000s applications.

  • Team Experience - Our team comprises experienced entrepreneurs, blockchain engineers, and operational and marketing experts with over 15 years of combined experience, having worked with well-established companies like Microsoft, Google, IBM, Infosys & Polygon

    Nabarun Chakraborty, Founder & CEO: 4X founder, co-founded Newton Vehicles & Ornativa. 12+ years exp in commerce, retail & supply chain management. Graduated and raised $5.5 million in funding for previous startups from Microsoft venture, Silicon Road ventures and others. [LinkedIn]

    Deepak Komma, Lead Blockchain Engineer: 5+ years exp in software development, Worked with Jiraaf as a software engineer, Worked with Accelchain as a founding blockchain engineer and Worked with Buildspace and Developer Dao. [LinkedIn]

    Supriyo Sarkar, Sr. Backend Engineer: 5+ years of exp in DevOps & full stack development, Worked with AWS & other enterprise applications, Contributor at Monero(XMR) and 4+ yr of exp with Google Assistant Action Developer. [LinkedIn]

    Pushpit Bhardwaj, Full Stack Developer: Web3 Technology Lead Musixverse, Blockchain Developer/Security Auditor ImmuneBytes & Polygon Advocate, Backend & Cloud Ops Engineer Fitteo & MrktDB and 7x Web3 hackathon winner. [LinkedIn]

    Venkatesh Prasad, Creative Lead: 5+ years of exp in UI/UX Designing, Worked with IBM & Royal Dutch Shell as a Senior UI Designer, 5+ years of exp in graphic designing and video editing and 2+ years of exp in 3D modelling and texturing. [LinkedIn]

    Pankaj Arya, Supply chain & Product Manager: 10+ years exp in supply-chain and management, Logistics, Worked with Infosys as a senior design engineer and Studied in Supply-chain management from Massachusetts Institute of Technology. [LinkedIn]

  • Timeline and Milestones for Use of Grant -

    Milestone 1: [Migrations to Moonbeam Network & Development]

    Tech architecture and Infra:

    • Migrate to Moonbeam Network
    • Setup the architecture for the backend and blockchain services

    Authentication and Wallet Creation:

    • Using email-based login for better UX and an easy onboarding process
    • Password-less authentication using Magic Auth
    • Smart Account Creation (EIP4337 Wallet) using the Biconomy SDK
    • Gas-less Transactions sponsored by the Autify Paymaster Smart Contract
    • A proper verification system (KYB Module) to whitelist the brands using the platform
    • Role Management so that brand owners can add their vendors and assign them specific roles

    Tech Tasks:

    • Auth + Wallet Creation ( DB linking with runtime hashing)
    • KYB Module ( DB Addition + Frontend Forms + User mapping)
    • The dashboard structure and Nav Bar etc.
    • Role Management.

    UI/UX:

    • Refine UI screens for the Brand owner dashboard, Internal analytics dashboard and product tracing WebApp for end customers.
    • Implement a gasless and wallet less user onboarding experience.

    Expand the core tech team:

    • Hire a core backend developer with experience with Databases and building production-grade APIs
    • Hire a core frontend developer with experience building complex dynamic dashboards and micro frontends.
    • Hire a DevOps engineer with experience building robust CI/CD pipelines and managing cloud infra

    Start Date: 15th Mar
    Time Required: 6 Weeks
    End Date: 30th Apr
    Budget: 350K GLMR

    Milestone 2: [ Further Development]

    Develop the Product Management

    • Bulk import of products through CSV upload.
    • A modular system that can adapt to a wide range of industries and vendors.

    Communication Module:

    • A multichannel communication module for the supply chain participants
    • A ticketing system to raise tickets and resolve issues among the parties involved in the supply chain process
    • Help section to reach out to Autify, request new features and report bugs
    • An FAQ section with information related to the platform and its use cases

    Work on a smart contract that involves the business logic for the product entry, tracking and tracing

    • Mapping the wallets to the brand owner and the respective product being entered
    • Access control based on the permissions set by the brand owner
    • Creating an upgradable NFT with all the requisite metadata of the product
    • Storage of the product data in the decentralised Interplanetary File System (IPFS) platform
    • Logic to transfer and verify the ownership of the digital twin
    • Deploy the smart contract on the testnet

    Tools To be Used:

    • Infura Endpoint (RPC Node, IPFS endpoint, storage) / Alchemy / Quicknode
    • Biconomy ( ERC4337 Wallet Creation)

    Start Date: 1st May
    Time Required: 6 Weeks
    End Date: 15th June
    Budget: 350K GLMR

    Milestone 3: [ Customer migrations, testing, mainnet]

    A consumer-facing Webapp to verify product authenticity

    • Consumers can scan the QR Code/NFC/RFID.
    • Displays the origin and the lifecycle of the product.
    • Allows the consumer to verify the authenticity of the product.
    • Product sustainability is verified.

    Launch the POC for the fashion & Luxury domain:

    • Test out the protocol with an existing brand (will be able to track the product origin and authenticity).
    • Run a brand engagement and marketing campaign using the above POC.

    Run trails and onboard potential clients:

    • Run test trials with products with the partnered companies and organisations.
    • Onboard more clients and partners.
    • Work on a foolproof Go To Market Strategy.

    Launch the beta version on mainnet:

    • Migrate existing customers & onboard 200+ B2B customers from the industries being catered.
    • Introduce paid and freemium models of the application.
    • Run a large-scale PR and marketing campaign
    • Achieve 5 million transactions per month and 50K account creation.
    • Expand to Australia, Europe and other markets.

    Start Date: 16th June
    Time Required: 6 Weeks
    End Date: 31st July
    Budget: 300K GLMR

    Extended Milestones: [Develoment on Moonbeam Network]

    • Sustainability track and trace
    • Autify Verified Vendors Marketplace
    • API Platform for eCommerce platforms
    • B2B Cross Border Payment & Lending module
    • Integrating AI and Computer Vision for 100% automation
  • Vision Of Success - Our Vision of Success is to become the market leader in supply chain management and traceability, onboarding 500+ B2B customers globally. We aim to process 20 million transactions per month, while continuously improving our efficiency and accuracy. We strive to expand our services to other industries such as Automotive, Wine & Spirit, Luxury, and beyond, leveraging our expertise to solve complex supply chain challenges. Our success will be measured by the trust and loyalty of our customers, the satisfaction of our employees, and the positive impact we will create on society and the environment.

    Receiving this grant funding would allow us to accelerate the development of our products, onboard customers more efficiently, and expand our reach globally. By adding more resources to our team, we can increase our capacity to address a significant problem that impacts billions of people around the world.

    Our current limitations restrict us from focusing on only a few specific areas, and launching our products would take a longer time than we desire. With this grant funding, we can expedite our efforts and bring our solution to the market more quickly, delivering value to our customers and positively impacting society.

  • Rationale - Providing a grant to our startup would benefit Moonbeam Ecosystem in several ways. Firstly, We aim to process a few million transactions per month and create a few thousand accounts every day and help the crypto/blockchain ecosystem achieve mass adoption in sectors such as retail, commerce, and supply chain management. By supporting our growth and development, the Moonbeam Ecosystem would be investing in a company with a proven track record of success and the potential for further growth.

    Secondly, our focus on enterprise adoption means that we serve as a valuable partner for other businesses and organizations. Our services can help these organizations streamline their operations, increase efficiency, and reduce costs, which ultimately benefits their customers and stakeholders. By providing us with a grant, the Moonbeam Ecosystem would be supporting the growth and success of a company that has a positive impact on the broader business ecosystem.

    Finally, our market expansion opportunities offer additional benefits to the Moonbeam Ecosystem. By supporting us as we expand into new industries and regions, the Moonbeam Ecosystem can increase its visibility and reach within these markets. This expansion also creates new opportunities for partnerships and collaborations, which can further enhance the value of the Moonbeam Ecosystem for its users.

  • Updates -

    • Refined the product details.
    • Updated the requested grant amount to 1MM GLMR.
    • Updated the Use of Grant amount section.
    • Removed generic developments from the milestones.
    • Refined the development milestones, timeline and budget.
    • Updated the KPIs section: Autify Network has been chosen as part of the prestigious Top 25 Web3 Innovations list curated by YourStory and Buidlers Tribe from 1000s applications.
8 Likes

Hey, Nabarun, Thank you for submitting your proposal.

I would like to express my admiration for the innovative idea behind your project, and it’s impressive that you have chosen Moonbeam as the chain for deployment. however, given the nature of your proposal, it seems that this grant may not be the most suitable funding option. it’s possible that you may need to explore investment rounds where VCs can participate. anyway, i could be wrong.

Could you please answer the following questions:

Based on an article in Forbes, it states that you recently raised about $1.9M in funding led by Loop Ventures, as well as grants and angel investments from Biconomy, NEAR Foundation, Filecoin, Dfinity and others.

    • Could you explain what conditions you face for these investors, and why you need another grant from Moonbeam? 
      
    • What will be the main chain for deployment? and what role will other blockchains play in your project?
      
    • How would your development plan be affected if there were no incentives for your project?
      
2 Likes

Sounds interesting what you’re trying to do. How do plan to build and roll out a product in such a complex industry like the supply chain? Do you plan to target small and medium-sized businesses or large-cap business in the luxury industry?

2 Likes

This proposal sounds interesting. The amount lost due to inefficiencies in supply chain is baffling. Great to see blockchain solving this real world problem.

I did some background research on your platform and your recent rebranding sounds amazing. Also the Forbes feature is quite an impressive feat.

Would love to connect more with your team and know more about the inner workings.

2 Likes

Thank you for your kind words! I appreciate your admiration and am glad that you find our project’s idea innovative. We chose Moonbeam as the chain for deployment because of its compatibility with the Ethereum Virtual Machine (EVM) and its ability to support Solidity smart contracts, among other reasons. Thank you again for your message, it means a lot to us!

Please find the below answers.

  1. We raised $1.9M ($1.5M funding + $400K grants) 8 months ago not recently. We are addressing an extremely complex problem that affects companies worldwide, resulting in losses exceeding $10 trillion due to supply chain inefficiencies, counterfeiting, and a lack of transparency. Our goal is to tackle these issues by developing innovative solutions that improve supply chain efficiency, reduce losses, and enhance transparency for businesses and their customers.

    To develop our products and onboard customers quickly, we require a substantial amount of resources that exceed the $1.9M we raised. In my experience, raising funds from venture capitalists (VCs) can be a time-consuming process that takes several months and requires the full attention of the founders. Therefore, we need to explore alternative funding options and strategies to secure the necessary resources and accelerate our growth trajectory.

    As a founder, my primary focus should be on building our products and delivering value to our customers. I believe that spending several months raising funding from venture capitalists (VCs) would divert my attention from this critical task. Therefore, we have decided to apply for the grant that can provide us with the necessary resources to develop our products and onboard customers faster, without having to compromise our focus and attention.

  2. During the initial phase of our product development, we created several proofs-of-concept (POCs) and minimum viable products (MVPs) on the NEAR protocol. However, due to limited resources and tooling options available on the platform, we encountered significant obstacles that prevented us from achieving our goals. Consequently, we decided to pivot our product development roadmap and architecture completely, and we are now fully focused on EVM-compatible chains.

    Like, we facilitate gasless transactions for our users, and we are utilizing Biconomy, which is not currently compatible with NEAR. Nonetheless, we believe this approach will enable us to build a more scalable and successful solution that meets the needs of our customers.

    Our product development strategy centres around the use of the Moonbeam Network as our primary/native chain. We believe this approach will enable us to create a more robust and scalable solution that can meet the needs of our customers more effectively.

  3. Receiving this grant funding would allow us to accelerate the development of our products, onboard customers more efficiently, and expand our reach globally. By adding more resources to our team, we can increase our capacity to address a significant problem that impacts billions of people around the world.

    Our current limitations restrict us from focusing on only a few specific areas, and launching our products would take a longer time than we desire. With this grant funding, we can expedite our efforts and bring our solution to the market more quickly, delivering value to our customers and making a positive impact on society.

    • I am confident that our grant proposal aligns with the objectives of the Moonbeam ecosystem grant program, and I believe that a partnership between our organizations would be mutually beneficial.

      Our solution addresses a significant problem and can provide significant value to Moonbeam’s ecosystem. In return, working with Moonbeam would provide us with the resources and support necessary to realize our vision and deliver our solution to the market more efficiently. Overall, I believe this partnership would be a win-win for both parties.

3 Likes

I appreciate your positive feedback, and we would be thrilled to connect with you to showcase the work we are doing at Autify Network. We are confident that our solution can provide value to Moonbeam’s ecosystem and are excited to share our vision with you. Let us know the best way to reach you so we can schedule a time to discuss this further.

2 Likes

Building and rolling out a product in the supply chain industry can be a complex process, but there are several key steps that we have taken to increase the chances of success:

  1. Conduct market research: We conducted comprehensive research to gain a thorough understanding of the supply chain industry, including its challenges, opportunities, and potential customers. This research should also identify any existing solutions in the market and their strengths and weaknesses.
  2. Define the product: Once we have a good understanding of the industry, define the product by identifying its key features, target customers, and unique value proposition.
  3. Develop a Minimum Viable Product (MVP): Develop an MVP that includes the core features of the product and can be tested by potential customers. This will enable us to receive valuable feedback that can inform the development of the final product.
  4. Test and iterate: Test the MVP with potential customers, gather feedback, and use it to refine and improve the product. This iterative process should continue until we have a product that meets the needs of your target customers.
  5. Establish partnerships: Establish partnerships with key players in the supply chain industry to help gain access to potential customers and build credibility for our product.
  6. Roll out the product: Once we have a final product that has been tested and validated, roll it out to the market through a targeted marketing and sales campaign.
  7. Continuously improve: Continuously improve the product based on feedback from customers and changes in the market. This will enable us to stay competitive and relevant in the industry over the long term.

Overall, building and rolling out a product in the supply chain industry requires a deep understanding of the industry and its challenges, as well as a willingness to adapt and iterate based on customer feedback. By following these key steps, we can increase our chances of success and build a product that delivers value to our customers.

2 Likes

hello, your project looks good and promising but I don’t see how the grant can benefit moonbeam and its community, I think what is more appropriate for you is an investment fund with vcs or an ico I really do not see how the ecosystem can be incentivized with such a proposal.

1 Like

I am confident that our grant proposal aligns with the objectives of the Moonbeam ecosystem grant program, and I believe that a partnership between our organizations would be mutually beneficial.

Our product development strategy centres around the use of the Moonbeam Network as our primary/native chain. We believe this approach will enable us to create a more robust and scalable solution that can meet the needs of our customers more effectively.

Providing a grant to our startup would benefit Moonbeam Ecosystem in several ways. Firstly, We aim to process a few million transactions per month and create a few thousand accounts every day, which indicates that we have a high volume of users and a significant impact on the market. By supporting our growth and development, the Moonbeam Ecosystem would be investing in a company with a proven track record of success and the potential for further growth.

Secondly, our focus on enterprise adoption means that we serve as a valuable partner for other businesses and organizations. Our services can help these organizations streamline their operations, increase efficiency, and reduce costs, which ultimately benefits their customers and stakeholders. By providing us with a grant, the Moonbeam Ecosystem would be supporting the growth and success of a company that has a positive impact on the broader business ecosystem.

Finally, our market expansion opportunities offer additional benefits to the Moonbeam Ecosystem. By supporting us as we expand into new industries and regions, the Moonbeam Ecosystem can increase its visibility and reach within these markets. This expansion also creates new opportunities for partnerships and collaborations, which can further enhance the value of the Moonbeam Ecosystem for its users.

3 Likes

It appears that the expected ROI for Moonbeam’s ecosystem may be relatively low, as the main growth potential seems to be transaction count, which may not be a sufficient reason to justify a $2 million GLMR investment. Additionally, publicly available analytics tools such as WEB3GO dashboard show that XEN is doing this already.

Furthermore, as your project is currently quite far from the mainnet, it may be difficult to see why this particular round of grants should be allocated towards funding your team’s expansion. It appears that the project is approximately 6 months away from going live on the Moonbeam Network.

This doesn’t make sense as we are halting/starving currently deployed projects to foster something in the future that may or not even work.

This, to me, seems to be a real use case where blockchain can be used to enable transparency, ownership, and traceability. I’ve been following Autify Network’s work for the last few months and am impressed to see the way you’re addressing the issue!

3 Likes

Hey @GAMA, Thank you for asking some important questions. Let me clarify one by one.

  • You have misunderstood our product completely and compared Autify Network with XEN Crypto, which may not be an appropriate comparison. Our product should be compared to similar solutions in the web3 space, such as VeChain, Atma.io by Avery Dennison, Everledger, and Aura Blockchain, as well as web2 solutions like SAP and Oracle.

    As an example, Atma.io has already added more than 22 billion items to its blockchain and continues to add more than 300 items per second. Our product will be similar in the sense that we will be adding approximately 50 fields of metadata per product. In the first phase of our product launch, we plan to onboard over 100 B2B customers.

    We aim to process a few million transactions and create a few thousand accounts every day, which indicates that we have a high volume of users and a significant impact on the Moonbeam ecosystem.

  • Our product is tackling a highly complex issue that has a significant impact on companies globally. The supply chain inefficiencies, counterfeiting, and lack of transparency in this industry have resulted in losses exceeding $10 trillion. As a result, building a product from the ground up in this industry takes much more time and effort compared to developing a simple Daap or platform. SAP is a 50+ years company and they are still building.

    We have been diligently building our product for over a year, conducting thorough research and testing multiple technology stacks due to it’s complexity. To ensure a smooth development process, we divided the product roadmap into three phases. Additionally, we have decided to migrate to Moonbeam Network immediately instead of waiting for another six months.

    Our team comprises experienced entrepreneurs, blockchain engineers, and operational and marketing experts with over 15 years of combined experience, having worked with well-established companies like Microsoft and Google. We are fully dedicated to building this company, even if we do not receive any external support.

    Hope I was able to clarify your doubts.

2 Likes

A pretty insightful project. This proposal actually focuses on a real world problem that is pretty complex and has a lot inefficiencies in place. I believe that this proposal aligns with Moonbeam’s guildelines and will help in getting more exposure to this ecosystem

3 Likes

@web3geek, Thank you for your kind words! I appreciate your admiration and am glad that you find our product idea insightful.

Our product is tackling a real-world highly complex issue that has a significant impact on companies globally. The supply chain inefficiencies, counterfeiting, and lack of transparency in this industry have resulted in losses exceeding $10 trillion.

Our goal is to launch our product as quickly as possible and have a positive impact on billions of people globally. We would greatly appreciate your support to help us achieve this mission.

1 Like

from my point of view, looking for financing to practically develop/found the entire project, grants are not the right place for it,

Perhaps they could be used to start some features that involve a common benefit to the entire ecosystem

In addition to providing more txs made in the chain, what would be the benefit that the community and the ecosystem would have from this?

so from my point of view, you could:

seek funding from VCs or some kind of community funding

or ask for grants but for specific functions and for a much smaller amount

How can milestone 1 be, just hire more people and do research, and for that pay $100k?

instead of something already tangible that the community can use or take advantage of

It seems to me that in this instance of the project a grant is not viable, sorry if seems like hate or something, is only my personal opiniĂłn

2 Likes

you are right they need funding and not a grant

@jose.crypto, Thank you for sharing your feedback.

We have created several proofs-of-concept (POCs) and minimum viable products (MVPs) and worked with B2B companies and the Government of India. We have been diligently building our product for over a year, conducting thorough research and testing multiple technology stacks due to the complexity.

A few months back we made the strategic decision to completely pivot our product development roadmap and architecture, with our full focus now on EVM-compatible chains. In order to ensure a streamlined development process, we divided the product roadmap into three distinct phases. Therefore, moving to Moonbeen Network will be a migration not building everything from scratch.

Our product is tackling a highly complex issue that has a significant impact on companies & individuals globally. As a result, building a large product from the ground up in this industry takes much more time and effort compared to developing a simple dAap.

After taking feedback from the community members, we have decided to adjust our budget and request a smaller amount than our initial requested grant amount. To achieve this, we plan to combine Milestones 1 and 2 into one milestone, as well as Milestones 3 and 4 into another milestone, resulting in a total of three milestones. This revised plan will require a total budget of $300K.

We are also open to convertible grants or community funding.

1 Like

Hello Nabarun, since you have decided to lower the requested amount to $300k, I suggest considering an alternative option called Community Committee Grants. these grants cover amounts up to $250k and are approved by the Community Grants Committee.
this may be a better choice as it eliminates the need for on-chain voting when distributing funds to the projects. furthermore, you can discuss all the necessary details with the committee.

To learn more about the details and apply, please follow this link: Grants Program Funding for the Moonbeam Ecosystem.

4 Likes

@turrizt, Sure, I will look into the Community Committee Grants.

We are excited about transitioning to Moonbeam Network as our main blockchain and further building our product portfolio. However, it appears that some members of the community may not fully grasp the potential and wide-ranging impact of our offerings, and the significant advantages they can bring to the Moonbeam ecosystem.

That’s the reason we decided to lower our budget to 50% of the original request, establish initial traction, showcase it to the ecosystem, and subsequently apply for larger grants.

Can we continue with this proposal or go and apply for the Community Committee Grants?

3 Likes

Nabarun, Thank you very much for your proposal and for providing us with detailed answers, it’s great that you chose Moonbeam as the main chain for deployment.

This discussion is incredibly useful for everyone involved. Users can get to know your project better, ask you questions, and you can provide a deeper understanding of your vision and goals.

I believe it’s important to wait for additional comments from the community and the grant committee. their feedback will be valuable in guiding you on the best way to proceed. I wish you good luck with this proposal and your project!

3 Likes