[DAO: QmUXRke] Cryptocurrency exchanger and virtual bank in the metaverse

by 0x9df74fd9d730a8e6319039e7035ef414c3e89524

Should the following Tier 6: up to $240,000 USD, 6 months vesting (1 month cliff) grant in the Community category be approved?

Abstract

We have decided to move towards the development of the project in the metaverse. “Ready Player One” describes the near future in the basic version.

We want to make the most convenient exchanger for customers so that they exchange their crypto assets and fiat without leaving the virtual universe, while the movement of funds took place in the real world.

Then we will open the virtual bank, where people will be able to store their coins and get a percentage.

We will make loans in the form of a vote - the participants will choose the conditions that suit them, but such that they don’t lose everything.

Interest on deposits will be paid by making a profit from exchanges.

Grant size

240,000 USD

Beneficiary address

0x9df74fd9d730A8e6319039e7035Ef414c3E89524

Description

Main project

The project is at an early stage of development, as only 3 people are working on it. Despite this, we managed to write our own program for the cryptocurrency exchanger, which stands out with speed and security.

The cryptocurrency exchanger is a central part of the entire ecosphere. We designed program so that it would be as easy to connect other services (for example, integrate the exchanger into the marketplace).

Other projects in system

Processing - The user remains on the site, he doesn’t need to go to external systems. This will speed up the payment processing from our side.

Acquiring - Our own acquiring will allow us to reduce commissions for our clients. Besides, acquiring integrated into the system also allows sellers and buyers to receive additional benefits on our platform, for example, cashback.

Decentralized marketplace - In our marketplace, it will be possible to buy goods for both fiat and various cryptocurrencies. This will eliminate one regulator and reduce fees. We will be able to minimize costs and organize healthy competition in product markets with a large number of small participants. At the same time, neither sellers nor buyers will pay commissions, which will reduce the cost of goods.

NFT service - NFT service with auction and stock exchange for art freelancers with all functions for accepting, distributing accounting and storing funds. The benefits for sellers and buyers are the same as in the marketplace - the services are interconnected and there are no commissions.

One of our team members is a certified economist with experience in large banks, so the economic model of our cryptocurrency exchanger is working and already brings some profit.
For other services, the economic model is also already being worked out.

But having a small team imposes its own limitations. We can’t work on both the backend and the frontend at the same time. Therefore, the design and functionality in some moments lags behind the competitors.

So, we need funds for

  • Programmers - to work in parallel on several modules;

  • Web designer - to improve the usability of all services;

  • Lawyer - to resolve disputes and protect us and our partners;

  • Marketing and sales department - to promote services.

Links:

  1. Our exhanger
  2. Running Pre-ICO
  3. Twitter
  4. Reddit

Specification

The main functions of the exchanger will be implemented in Decentraland. Our team will work to convert a simple exchange on the website into a currency exchange in a bank. At the same time, the user’s avatar will be able to make exchanges both in the common space and in a private room - an analogue of a personal account on the site during registration. In addition to notification of a successful exchange, the avatar will be issued checks in Decentraland.

We want to visualize the exchange itself, as it can happen in reality with a virtual cashier. It will ensure maximum realism.
After that, the visual space of the bank will be created with cashiers, operators, etc. That is, the user will get the full feeling of being in the bank. Virtual contracts will also be created.

The exchange itself will be carried out through an exchange office, where neuroblockchain technology is being developed, taking into account the possibility of hidden transfers, transfers without confirmation, transfers with confirmation and multitracts. The ability to program tasks, create and track digital contracts and contracts, the ability to store data.

Personnel

  1. Dmitriy - Programmer
  2. Anton - Economist
  3. Andrey - Marketing

Roadmap and milestones

  • Development of the crypto exchange project - 03.09.2017

  • The exchanger has been launched - 02.12.2018

  • A new exchanger program based on a scalable core - 24.05.2020

  • Optimization of the exchanger and development of an ecosystem plan - 24.02.2021

  • Revision and optimization of the exchanger - 06.06.2021

  • AML and KYC - 20.06.2021

  • Development of processing and marketplace - 04.07.2021

  • Preparing for the start of the MarketPlace development - 01.12.2021

  • Launching an NFT auction - 01.03.2022

  • Test run of processing - 30.06.2022

  • Launching acquiring - 01.09.2022

  • Completion of the MarketPlace development - 02.10.2022

  • Launching virtual bank - 24.11.2022

  • Launching the MarketPlace - 31.01.2023

  • OTC platform and the derivatives-based product platform - 31.03.2023

  • Full integration of all project services - 31.08.2023

  • Launch of the unified portal for customers - 01.08.2024

Vote on this proposal on the Decentraland DAO

View this proposal on Snapshot

Our GitHub link - COFEOX · GitHub

And our team has replenished with excellent programmers:
Rakhmetov Eduard PhD mathematician
Kochneva Marina PhD mathematician, C/C++ programmer
Sergey Keyzerov C++ programmer
Vladimir Kushnarev VHDL programmer, Verilog
Andreev Alexander Java programmer

Unbanked are already working on this…
For free…

Where’s proof?
Secondary… like robinhood free comission?)) and in the fact badder price without fee
And… unbanked for bank products… doubtful

unbanked are building their NFT platform @ https://unbnk.com
They have bank accounts in 200+ countries already…
Card in USA…
They don’t have a physical bank but they are building one @ Decentraland

And not for free… Team have salary

They’re building it for free for us to use…
Is what i meant…
Not sure what you mean?

I mean the fact that the projects are different and in fact, judging by the description, they do not copy each other, but are only 30% similar. Yes, and in similarity there may already be competition, and not a monopoly.

Yes, and judging by the number of those who voted for - 16 votes, this is interesting and creates healthy competition, which looks good in the eyes of users

Cryptocurrency exchanger and virtual bank in the metaverse

This proposal is now in status: REJECTED.

Voting Results:

  • Yes 1% 46,033 VP (15 votes)
  • No 3% 260,851 VP (14 votes)