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LINK is a different kind of Nigerian Anchor, as an infrastructure first company we are focused on a unique streamlined range of services & features that have the backbone of Stellar network.
LINK for Global businesses: We allow businesses accept payments and send payouts globally in one unified platform. Move digital money leveraging traditional payment rails and do business in a more global, scalable and efficient way through hybrid infrastructure. LINK seamlessly connects these worlds.
LINK P2P platform: Allows users to Send, spend and bank at the real exchange rate with transparent fees across borders
NGNC: NGNC for Naira Coin is a multichain stablecoin pegged and redeemable 1:1 in value to the Nigerian Naira, built to power Cross border payments and the future of internet of value for the next billion Africans.
WAVY (Vibrant for Nigeria): Wavy is a wallet app developed on Stellar by the team at LINK as one of the line of cross border focused payments platforms. By employing Stellar, Wavy makes it possible for Nigerians (especially low income and middle class working individuals) experiencing inflation to purchase and hold USDC quickly, cheaply, and easily.
Wavy also works like MoonPay for Africa giving local businesses access to digital assets
API’s: LINK would provide a suite of API’s for businesses and developers to incorporate our products and services across the ecosystem.
Partnerships & Users:
Product:
Fund raising
Revenue
Going to markets in:
In 6 months, we want to hit the following Milestones
1. Launch and scale our P2P product;
2. Launch and expand B2B product;
3. NGNC;
4. API
5. WAVY
6. Legal:
In order to achieve the above in the next 6 months, We’ve broken down targets in specific KPI’s across the various teams for a period of 20 weeks divided in 3 phases. After each week or after reaching key targets established in the roadmaps we run a full evaluation of the progress made in the week (asides our bi-weekly meetings to help each other) make necessary adjustments . Also to give a more specific insights partnerships with various anchors, service providers, access to funding for liquidity use cases, a payment license in the UK and Nigeria as well.
We will use these evaluations as a form to measure our progress and guidance as we work to meet goals and targets.
https://docs.google.com/spreadsheets/d/13Qf4su3ptznAg0D7mshze25rqIpxxhxM8CqDGTmLhUE/edit?usp=sharing
Strengths:
Weaknesses:
Opportunities:
Threats:
Please note these exchange rates were the rates existing on these platforms, at the time of putting this together.
Imagine the potential LINK can harness with a market that already has a 32% adoption rate with existing market conditions like outlined above.
https://docs.google.com/document/d/100oKhmA3sBbgTvrwvNuK-klRMZ2AvM7niJ6KRbJIz2Q/edit?usp=drivesdk
https://docs.google.com/document/d/15SNa7XpeBD-rSzbqt1i6iQ_Iy0qfz9v-Sk3i56CNKQk/edit?usp=drivesdk
Over the last 6 months, our team has worked on building strategic partnerships in order to achieve and deliver the goal mentioned above. Thanks to that work our team is confident that this goal is within reach. With the resources requested below, we believe we can commit to delivering this in 6 months.
Of the $77bn, Nigerian remittance size stands at $25.6bn with markups on the exchange rate still as high as 30-50% - According to stears business “Nigeria is 40% Dollarized” Government can’t meet fx demands
Nigeria also ranks 8th place in crypto adoption with 32% of her respondents as crypto users (2nd place in bitcoin adoption) with expensive or none existing means to conveniently ramp into defi.
Of these numbers over 54% is done informally without track records.
There is so much potential here that LINK needs to tap in to solve and we believe with the mission of the SDF and ours we bring so much to the table to tackling and accomplishing these things.
Our team is comprised of:
We believe that our team is the core of LINK. We are confident that combining this with the great job the SDF has done puts us in a position to do something really impactful. Our products are launching between May/June and we are sure that with the moving parts we have in place we can accomplish this goal and take our product to market successfully.
In Q2 of 2022, LINK won a grant of $15K from DFS and the Stellar Development Bootcamp. These funds helped us build out some parts of our B2B product as well as little runway to build and do a 2nd market validation launch of the LINK P2P in June as well as liquidity for the NGNC Stablecoin, with such little resource we aim to show a snippet of how much we can achieve with the right kind of support and funding, Now LINK is looking for additional resources through the stellar community to help the company be where we want to be by Q4 of 2022.
We used up 42% of our $15k grant to pay salaries for work done thu far, buy equipment, development in the LINK P2P platform to go live in June, an extra 33.3% locked for liquidity to create a market, increase the supply and order books on the stellar DEX as well as liquidity to power the beta launch (market validation launch) of the LINK P2P platform in June, 6.7% used to upgrade security and efficiency of existing backend, Hosting & DNS Servers/Plans and other dev ops related as well as explore the NGNC bridging capabilities, 28.3% locked in for marketing and company running cost.
Our Request
Budget Requested: $50,000
Engineering/Devops: $19,330
Operations: 18,330
Legal: $6,030
Partnerships: $755
Marketing/Stratehics Ads: $5,555
In total were looking to fundraise 450K to boost development and are requesting $50,000 from SCF to get started
What that could look like
ENGINEERING/DEVOPS ($174,000)
Backend Upgrades – $5,000
API Development (priority) – $5,000
P2P Product Upgrades (IOS & Android dev. On the way) – $10,000
APP Development (AWS, digital ocean), Internet Hosting service, Security and system backup – $2,000
Research and blockchain development.
LINK personalized development network for company workspace - $2,000
NGNC Token Liquidity: We need this as a criteria with some of our partners to setup up liquidity pools with NGNC and their assets, So creating a market for NGNC/USDC, NGNC/XLM, NGNC/KES, NGNC/EURC and so forth. – $150,000
OPERATIONS ($165,000)
Salaries; Gives us runway for the next 12 months – $90,000
Running cost – $50,000
Equipments (we’ve managed really low quality laptops to build LINK thus far, some have given up literally) - $25,000
LEGAL ($54,245)
UK License Application (EMI FCA License) – $6,245
Stablecoin Auditor fee (Still consulting) – $48,000
PARTNERSHIPS ($6,755)
Business development (Travels, meetings, software for strategic leads and reach) – $6,755
MARKETING & STRATEGIC ADS ($50,000)
Emmanuel Evarist- CEO/Co-Founder
Computer Engineer & Product Designer with 6years of experience, Former CEO FINC Arts and FINC Markets: a brand and design studio, at FINC Markets built algorithms and code for tradingview for large and small scale traders to be profitable on the Forex and Crypto market
https://www.linkedin.com/in/emmanuel-evarist-47a4a31b5
Discord: ebuka#7034
Marvel Ekpo- COO/Co-Founder
Product designer, Former COO FINC Arts and FINC Markets: a brand and design studio, FINC Markets which offered better trading algorithms for traders.
https://www.linkedin.com/in/marvel-ekpo-b0182918b
Discord: Iam_Marvel (LINK)#0936
Tomisin Leshi- CTO/Co-Founder
Software Engineer, Fullstack developer, Former Dev at himylink: a free platform that empowers global users to connect their info to the entire online system with a free, simple, quick link.
https://www.linkedin.com/in/tomisin-leshi
Discord: Unique-CTO (LINK)#7629
Victor Nwaejie- Brand Director
Product designer, Former Graphic Designer at VOIS Cyprus: an NGO that tackles problems in the lives of students studying and living in Cyprus.
https://www.linkedin.com/in/victor-nwaejie-46783819a
https://twitter.com/reksconfident
Discord: ReKs (LINK)#2107
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.