SMC is a platform that accommodates the loyalty network and supports multiple organizations and their loyalty programs, enabling their interaction, especially in terms of converting and exchanging points. It connects all their agents, allowing them to reach consensus on transactions without the need for a middleman or clearinghouse.

For merchants, the app will integrate easily with existing point-of-sale (POS) systems, making it simple to manage loyalty programs, increase efficiency, and boost customer spending. Customers will benefit by monetizing their rewards, allowing them to convert perks into investment-like returns. Banks will also see an increase in transaction volumes through credit card usage, as customers engage more with the program.

We recognize that merchants are central to the customer journey, as they define the parameters of the loyalty programs. Banks, in contrast, only facilitate the transaction processing.

Addressing Key Challenges

1. Bank APIs Limitations: Banks’ APIs alone don’t provide sufficient data, particularly with new standards around cookies and first-party data collection by merchants.

2. Legal Risks: Allowing the transfer of loyalty bonuses between customers without merchant involvement carries risks. Merchants can cancel programs at any time, potentially leading to fraudulent transactions.

To address these challenges, we propose using smart contracts to enforce connected transactions. Merchants will set the parameters of their loyalty programs, which will then be tokenized through TokenPrime. Smart contracts such as "Program," "Resell," and "Settle" will manage transactions securely, ensuring compliance and protecting against fraud.

Stellar will be leveraged to create a seamless, secure, and transparent platform for trading digital coupons, allowing users to engage in governance and earn rewards. By using Stellar’s blockchain technology, we ensure efficient, low-cost transactions, enabling customers to easily trade their tokenized loyalty rewards. This also provides an immutable record of all transactions, enhancing trust and transparency.

Overall, this project will empower SMC users by providing them with the ability to monetize their loyalty rewards, participate in governance, and earn rewards on a blockchain platform that ensures security and efficiency for all stakeholders.

Yes

$133.0K

Success for SMC is defined by the democratization of access to investments in tokenized coupons, offering retail investors opportunities in a market traditionally reserved for larger players. The platform’s success will be assessed through both quantitative and qualitative measures. This includes expanding the number of new users as well as the broader societal impact, such as improving financial access for individuals who previously lacked investment opportunities.

• One of the key goals of SMC is to create a powerful cycle of loyalty program recycling. Merchants offer products, and customers invest time and money in these brands. In return, merchants reward customers for their loyalty. Customers then have the option to use their rewards for personal needs or sell them to other shoppers who may have a specific demand for those offers. This system ensures that both the customer and merchant benefit equally—customers receive 100% of the rewards, while merchants enjoy a full return on investment through repeated purchases from loyal customers or new customers attracted by the resold rewards.

• Additionally, the platform seeks to personalize the customer shopping journey, enhancing user experience with tailored offers and rewards. The data used within the platform will be highly trustworthy, ensuring privacy and security for all users. To further empower customers, SMC plans to implement Decentralized Autonomous Organizations (DAOs), offering individuals the opportunity to gain a stake in the brands they support.

• SMC also introduces a new marketing approach focused on qualified client acquisition, leveraging coupon-based costs for effective targeting. The platform emphasizes security and transparency, incorporating robust fraud protection mechanisms to reduce abuse and ensure a fair experience for all parties involved.

• Finally, SMC aims to create interactive and engaging virtual environments for brands, boosting gamification in loyalty offers and extending new opportunities for crypto rewards. These rewards will be tied to content creation and community participation, further incentivizing customer engagement and brand loyalty.

Once the development of the SMC protocol is complete, our go-to-market strategy will be executed in distinct stages to ensure effective market penetration and growth.

The first step involves partnering with existing Web2 service providers that offer similar services but operate on a smaller and fragmented scale. By collaborating with these providers, we can gain immediate access to their client base, improving their user experience through the implementation of SMC’s new technological solutions. This will allow us to deliver a smoother, more seamless experience for users, setting the stage for broader adoption.

Next, we will approach real merchants and service providers for integration, expanding the reach of SMC’s protocol by offering a more efficient and scalable solution. This phase will involve helping these businesses incorporate SMC’s innovative technology into their operations to enhance customer satisfaction and drive new revenue opportunities.

Additionally, we plan to collaborate with IT integrators to extend the functionality of their existing services. By integrating SMC’s protocol, these partners can offer additional value to their customers, creating a more comprehensive service offering.

To generate excitement and encourage early adoption, we'll announce rewards and exclusive perks for users who actively engage with the platform from the outset. This approach will help build anticipation around the launch and cultivate a loyal user base.

We will target partnerships with coupon aggregators, such as platforms similar to Groupon, to extend their business model. By enabling customers to sell coupons directly, we will create a new avenue for value creation, broadening the reach and impact of SMC’s protocol.

In the next phase, we will adopt a different approach to integrate users into the project:

Targeted User Growth: After the launch, we will prioritize attracting early adopters from the DeFi space, especially those interested in synthetic assets and decentralized governance. To accelerate this, we may invest in paid marketing on social media, aiming for broad exposure and fast user growth within the DeFi ecosystem.

Content Marketing on Discord and X: Throughout the development process, we are already sharing content on Discord and X to raise awareness and spark interest in the protocol. We'll continue to provide regular updates and insights, keeping the community engaged and informed as we approach the launch.

Community Involvement and Governance: By launching the governance system early, we’ll empower users to influence the platform's future. We’ll incentivize participation through token staking and voting, ensuring the community is engaged and rewarded, fostering long-term loyalty.

Educational Resources and Onboarding: To facilitate a smooth user onboarding process, we will provide educational content, including guides, tutorials, and webinars. These resources will help users navigate xAsset trading, governance participation, and maximize their platform experience, building trust and usability.

Real World Assets (RWA) are transforming the cryptocurrency landscape, reaching a value of $41 billion in November 2024. This dynamic growth highlights the rise of tokenization for tangible assets from the physical world, which are integrated into the blockchain. This evolution also includes the increasing issuance of financial market products on the blockchain, such as digital securities that are tokenized and offered to clients via regulated platforms. These assets include real estate, art, commodities, and even stocks, accessible to users through these platforms.

In this context, the use of digital rewards via a digital wallet serves as a strategic entry point into the loyalty network. These reward applications rely on digital identities in the form of cryptographic signatures, enabling the storage of value as loyalty tokens. These solutions are reshaping the loyalty program landscape by providing a programmable infrastructure that simplifies the recording and execution of rewards transactions for customers and validators.

Loyalty program providers thus gain unprecedented flexibility to design applications tailored to their strategic and competitive priorities. This allows them to precisely control how their customers access and use their rewards. By integrating these mechanisms onto the blockchain, coupons and loyalty programs become not only more secure but also better suited to the needs of a market seeking transparency, efficiency, and interoperability.

The convergence of asset tokenization and blockchain-based reward mechanisms reveals a significant opportunity: leveraging these technologies to meet the growing demand for modern and scalable loyalty solutions.

Several airlines have expressed growing interest in our solution, seeing it as an opportunity to modernize and optimize their loyalty programs. They recognize the added value of tokenizing milestones, allowing for more flexible and transparent management of rewards for their customers. This solution also offers the possibility of integrating loyalty mechanisms onto decentralized platforms, thereby increasing the efficiency and personalization of services while reducing operational costs.

1)Smart Contracts Framework Development

• Description: The project involves the design and development of a blockchain-based royalty management system. This includes the creation of smart contracts that govern the distribution of royalties in a decentralized, transparent, and tamper-proof manner.

• Success Measurement: Fully tested and documented smart contracts, ready for deployment, with functionalities to define royalty splits, manage distributions, and handle disputes.

• Estimated Completion Date: February 27, 2025

• Budget: $19.500

  2)Development of a blockchain-based royalty management system

• Description: The project involves the design and development of a blockchain-based royalty management system. Key functionalities include defining and managing royalty splits among stakeholders, real-time tracking and recording of revenue streams, automated and equitable distribution of royalties based on predefined conditions, and integration with external platforms to fetch revenue data.

• Success Measurement: Efficiency Metrics: Measure the efficiency of automated royalty distribution compared to traditional systems.
  Functional MVP: A Minimum Viable Product (MVP) integrating the system with a basic front-end interface for stakeholder interaction.

• Estimated Completion Date: March 15, 2025

• Budget: $13.000

       3) Integration and Initial Testing of Smart Contracts with User Emoulated Interface Prototype

• Description: Integration of the developed smart contracts with the user interface prototype, followed by a testing phase to ensure the reliability and security of interactions.

• Success Measurement: An integrated system allowing users to test basic functionalities in real conditions, with documentation on testing outcomes and next steps for improvement.

• Estimated Completion Date: March 30, 2025

• Budget:$7,000

1) Integration and Initial Testing of APIs

• Description: The integration of APIs will allow the platform to connect with entities such as banks and businesses, while a decentralized governance mechanism will be implemented to manage system updates. Additionally, a decentralized faucet will facilitate the onboarding of new users.

• Success Measurement:  Number of successful connections made with banks, businesses, and new users onboarded through the decentralized faucet.

• Estimated Completion Date: April 01, 2025

• Budget: $12,000

       2) Admin tool for new product onboarding

• Description: This tool will enable platform admins to efficiently onboard shareholders and users by linking new assets to their profiles for real-time data. It will manage asset parameters, such as milestones for aviation companies, and ensure that these assets can be traded on the platform.

• Success Measurement: The tool will be considered successful if it allows admins to add new users, integrates wallet data, and is linked to the platform. Additionally, the first batch of assets will be successfully onboarded and tested.

• Estimated Completion Date: April 20, 2025 

• Budget: $18,700

  3)Updated gas schedule for transaction cost predictability

• Description: This update will focus on enhancing the gas schedule by providing a more transparent and detailed cost breakdown for each operation within a transaction. The goal is to make transaction costs more predictable for users and admins. The updated schedule will include clear documentation of the cost for each operation, improving budgeting and decision-making when engaging in transactions on the platform.

• Success Measurement:  Success will be measured by the clarity and accuracy of the updated gas schedule, ensuring that users can predict transaction costs with confidence. The implementation will be considered successful if the new cost structure is integrated into the platform seamlessly and reduces user uncertainty about transaction fees.

• Estimated Completion Date: April 27, 2025

• Budget: $8,000

  4)Staking Rewards Support with Test Coins

• Description: This feature will allow platform users to participate in staking by offering rewards for staking their assets. The tool will support the use of test coins, enabling users to experience the staking process without financial risk. The system will calculate and distribute staking rewards based on the amount and duration of assets staked.

• Success Measurement:  The feature will be deemed successful if users can easily stake test coins, track their rewards, and receive accurate payouts. The system should function smoothly, with no major issues during the testing phase, and allow for the seamless addition of real coins after the test phase.

• Estimated Completion Date: May 07, 2025

• Budget: $7,800

 1) Web Development for Wallets

• Description: This development will involve the creation of wallets, hosted securely on servers, enabling users to store and manage their assets. The wallets will also support staking rewards, with the ability to handle both fiat and testnet coins, allowing users to earn rewards for staking their assets. This feature will provide an added incentive for users to engage with the platform and contribute to its growth.

• Success Measurement:  The project will be successful if users are able to seamlessly create and access their wallets, with full support for staking rewards using both fiat and testnet coins. The system will also need to ensure secure hosting of the wallets on servers. The first batch of wallets will be successfully created, tested, and ready for staking activities.

• Estimated Completion Date: May 17, 2025

• Budget: $19,000

       2) Merchant and Bank Partner Development with Real Loyalty Program

• Description: This development will focus on integrating a real loyalty program with merchant and bank partners. The tool will allow merchants and banks to seamlessly connect with the platform, enabling them to offer loyalty rewards to their customers. It will track and manage customer interactions, allowing merchants to create tailored loyalty rewards based on transaction data. The integration will also ensure that users can easily redeem rewards through their accounts, enhancing user engagement and satisfaction.

• Success Measurement:  The success of this development will be measured by the seamless integration of merchants and banks into the platform, with a functional loyalty program in place. Metrics will include the number of participating merchants and banks, the number of active users engaging with the program, and the volume of transactions tied to the loyalty rewards.

• Estimated Completion Date: May 27, 2025

• Budget: $12,000

3) Full UI/UX Development (Final Version) with Technology Stack for PoC

• Description: The development of the final user interface (UI) and user experience (UX) will focus on creating a seamless and intuitive design for all platform interactions. This will ensure smooth access to key functionalities such as asset management, trading, governance, and rewards. The UI will be optimized to provide an engaging and efficient experience for users. The technology stack for the Proof of Concept (PoC) will include a backend built on either Node.js or Python (Django/Flask), handling API requests, user authentication, and business logic. The PoC will not include a full frontend, payment gateway, or cloud architecture.

• Success Measurement:  Success will be defined by the delivery of a polished, user-friendly interface that integrates all platform functionalities, including asset management, governance, trading, and reporting. The final version will be launched, thoroughly tested with user feedback, and ready for widespread user adoption. Additionally, the backend will function as expected, enabling smooth operations, and the PoC will meet its scope without the inclusion of advanced features like a frontend or payment gateway.

• Estimated Completion Date: June 20, 2025

• Budget:$16,000

Our team is led by two key members, Elena and Vasiliy, who bring together extensive expertise in software development, engineering, blockchain, and finance.

1. Elena CHUYKOVA – CEO

Elena Chuykova is a versatile professional whose expertise spans medicine, finance, and entrepreneurship, making her a dynamic leader adept at navigating complex industries and driving meaningful innovation.

Elena Chuykova, with a Doctor of Medicine degree, a Master’s in Finance, and an Executive MBA from the Stockholm School of Economics (SSE), is an accomplished entrepreneur and business leader. She is currently focused on her role as Co-founder and CEO of SMC, a France-based platform dedicated to developing innovative exchange solutions (www.smc.exchange). In addition, she is a shareholder in Cekura A/S, a Denmark-based startup specializing in personal security systems (www.cekura.dk). Previously, Elena founded a distributor for cosmetic goods and was a Partner at Libertex Group, a global trading service renowned for its advanced financial solutions (www.libertexgroup.com).

Linkedin   

2. Vasiliy RUDOMANOV – CTO

Vasiliy Rudomanov is a skilled Rust developer with deep expertise in cloud architecture, SaaS, and blockchain technologies. With over 12 years of experience in SaaS and cloud solutions, and eight years in product management and software development, Vasiliy has become a prominent figure in the Web3 and tech ecosystem.

As Chief Product Officer at GetBlock, he leads a dynamic team to establish the platform as a leading Web3 infrastructure provider. Over the past three years, he has driven product vision, strategy, and the delivery of innovative solutions that streamline blockchain network integration for developers. His technical expertise spans data center management, analytics, monitoring, decentralized storage, and compute virtualization, allowing him to craft products that meet the ever-evolving demands of the Web3 space.

Vasiliy’s entrepreneurial journey includes key leadership roles as CPO and shareholder at platforms like Chainstack, Infura, Cambrian, and others. A multiple hackathon winner at ETHGlobal and ETHBelgrade, he thrives at the intersection of innovation and execution, advancing solutions that empower developers and businesses alike.

Outside his executive roles, Vasiliy is committed to mentoring and advising early-stage SaaS startups in Web2 and Web3. He provides strategic guidance, coaching, and networking support to foster growth and innovation.

Vasiliy holds an MBA in Information Technology from the Academy of National Economy and a Master’s in Computer Science from State University. Connect with him on GitHub (cyberwider) or Discord (cyberwider).

Linkedin  

3. Gilles BUISSON - CPO

Gilles Buisson is a Doctorate-trained specialist in management sciences, with a focus on law and engineering in franchise and distribution. With over seven years of experience teaching strategy, marketing, and innovation, he is an accomplished professor at business schools in both Geneva and Paris, where he shares his expertise with the next generation of leaders.

An inventor and entrepreneur, Gilles co-founded a startup in 1994 when the internet first arrived in France, developing a multimedia terminal for cybercafés. This early venture marked the beginning of his career in the intersection of technology and business. In the early 2000s, he expanded his focus to the U.S. and European electronic banking markets, integrating new information and communication technologies (NICTs). His innovative vision led to the birth of an invention project that garnered recognition and success in several competitions from 2012 to 2014. In 2013 and 2017, Gilles filed patents for his invention at the French National Institute of Industrial Property (INPI) in Paris.

Throughout his career, Gilles has been committed to driving technological innovation and entrepreneurship, leveraging his extensive knowledge in strategy, marketing, and emerging technologies to create impactful solutions.

Linkedin