Project Stage
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Team size
Active since
Our Vision
To power and support the New Digital Economy through digital first payments and ubiquity of money.
Our Mission
To enable everyone to earn, invest and spend online with ease, convenience and at low fees.
Our Positioning statement
Benkiko powers your digital lifestyle by enabling you to do more with your money online, instantly and at low fees.
Our Value Proposition
A Digital Bank for the Digital Economy.
Products and Services
1. Benkiko App - A feature packed Stellar Interface used to send money, make payments, and trade digital assets.
2. Benkiko SDKs and APIs - To power an ecosystem of products and services that enable people to earn, invest and spend online, instantly and at low fees.
We're looking to power 500,000 online transaction by Dec 1st 2021.
At an average fee of $1, Benkiko is looking to raise $250,000 to achieve 500k transaction by end of Nov giving us estimated returns of $500k.
The amount will be used to tackle some of the challenges identified on our SWOT Analysis which may include partnership, equipment purchases, and services.
1. $50, 000 for Content creation partnerships - Partnership with influencers and content creators in the 5 markets to create awaress about Benkiko.
2. $20, 000 for Product Facilitations - To acquire the necessary resources to keep the team going. This budget is also used in our Stellar Reserve Sponsoring account, AWS hosting fees, and much more.
3. $50, 000 for Team wages - To secure our team's peace of mind by guaranteeing them a stable stipend, as well as hire new members in the 5 markets.
4. $30, 000 for Marketing and branding materials - To enable us print marketing materials such as bronchures, t-shirts, hoodies and caps for local meetups.
5. $70, 000 for Liquidity provisions - We will use part of the funds to provide liquidity for other ecosystems such as $BNB, $ETH and $BTC. Used to power a Benkiko external bridge enabling people to easily move money between Benkiko ecosystem and other crypto ecosystems.
6. $30, 000 reserved to facilitate new ideas, and startups within the ecosystem as a way of showcasing what can be achieved using Benkiko.
Here are the numbers we're committed to achieve from the greater scope:
1. We're looking to capture a 15% solid piece of the African Digital Economy by 2024, through Benkiko as a Bank and The Benkiko Ecosystem. Quoted at $180B by Google and International Finance Corporation.
2. To power Social Commerce across the globe through a reliable, affordable and fast Digital Payment rail. Valued at USD 474.8 billion in 2020. It is expected to expand at a compound annual growth rate (CAGR) of 28.4% from 2021 to 2028.
3. To empower The Creator Economy through monetisation tools and micropayments for Tips. Estimated to be worth $100B+.
4. Promote Financial Inclusion, and investment avenues anyone with a mobile phone.
Our top competitors:
1. Binance - The giant exchange powers global largest crypto trade volumes. It also have The Binance Smart Chain and Binance Chain to its name.
2. Paypal - A global online payments platform.
3. Mpesa - A leading mobile money service in Kenya.
Benkiko is changing the way people use and relate with money. Not only can you pay but you can also co-own, exchange and trade value easily online. It's not an easy feat seeing its built on new technologies and new terminologies as well. Rewriting everything people know about money and currencies. To achieve this, we'll need to pump out a lot of marketing resources, partnerships and use cases to showcase what we think can be achieved.
It's to this end that the budget above feels appropriate to engage the right people, produce the right quality of materials and use cases for the layman.
• Main website - Chronospay.io
• App on iOS
• App on PlayStore
• Discord: Chronospay#9640
• matias@chronosnetwork.io
• https://vimeo.com/590543751
John Frank Githiaka Ngemi
I'm co-founder and CEO at Benkiko Finance, previously founder Swiftity - an e-sourcing and tendering platform.
The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on December 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5th as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
**The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*This budget request has not been fully awarded to the project. The USD valuation of the budget request in XLM will be calculated using the CF Stellar Lumens-Dollar Settlement Price on day of payment as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR). Learn more in the SCF Handbook.