web3 cross border payments infrastructure for Africa
Project Stage
Category
Based in
Team size
Active since
Launch and Grow:
LINK Business
International and Local businesses are finding it hard to set up locally and extend their services in the Nigerian (African) market; some of the problems are:
How LINK Business solves this:
Launching in other markets in Q3
Ghana, Cameroon just to mention a few, already the Ghanaian cedis asset has been issued on Stellar with payment capabilities internally, we are looking to launch it and we are onboarding more business customers that would want this kind of service utilizing Stellar's blockchain infrastructure.
Build
WAVY
WAVY is a stablecoin utility super app/custodial wallet for the world, think Binance and Revolut but for stablecoins
Progress thus far:
LINK P2P Platform:
=> Grew our waitlist to 53k in 4 months.
=> Made early revenue $xxk with a set of whitelisted users
=> Launched Stellar USDC cards.
=> Powered/piloted Nigeria-Europe, Nigeria-Kenya, Nigeria-USA payments on our platform with anchor OTC payments at the back.
=> Made the decision to pause updates to the product after carrying out in-depth research and market analysis. Pivoting to WA/VY, a platform optimised for stablecoins. To launch in Q3.
Business Platform:
=> Currently in the works based on customer feedback.
=> Making finishing touches on SEP24, to bring back Naira deposits and withdrawals on Stellar.
=> Research on the early version of our cross-chain widget for NGNC (We would build this on Soroban hopefully in the coming rounds)
=> Onboarded and piloting Stellar Naira capabilities on business platforms like Lobstr, Centiiv, Kotani Pay, Getpaid, Bonafide, Benkiko and 25 other partners to mention but a few.
=> We plan to update the Multichain/Cross-chain widget to Soroban in the long run to power NGNC. It'll be taken live on our business platform.
=> Partnered up with a PSSP license provider in Nigeria allowing us to provide banking services.
=> Right on track to approach PMF from early indicators.
Revenue Model & Funding
a. 1 - 1.5% on On & Off Ramps (on APIs, Payment links, ramps for wallets)
b. x% on onchain FX
c. x.x% from the 7% USDC Yields
d. FREE in dashboard Transfers
e. FREE for DeFi Card Payments
Market & Industry Research
a. CROSS BORDER PAYMENTS LANDSCAPE
Total Addressable Market (TAM): $77bn
Serviceable Addressable Market (SAM): $25.6bn
Our opportunity: $5bn
b. web3 & Crypto opportunity
Africa's Population: 1.4bn
Nigeria's Population: 200mn
Crypto users in Nigeria: 33.4mn
Our opportunity: 10mn
Strengths:
Weaknesses:
Opportunities:
Threats:
Competition
Resources & Relationships
https://docs.google.com/document/d/15SNa7XpeBD-rSzbqt1i6iQ_Iy0qfz9v-Sk3i56CNKQk/edit?usp=drivesdk
Marketing & Sales
https://docs.google.com/document/d/16EjrIWRq--in8RfX0wz8fiqf3vVhma4y3PFCGSTflQQ/edit?usp=sharing
Stellar NGNC API's
Steps in getting there:
1. Completing the backend work , so we successfully push and deploy via self hosted APIs , Stellar NGNC capabilities for businesses and developers building in and out of stellar this includes developer tool, on/off ramps, LINK Bridge product etc
2. Switch on Stellar Network on the bridge configuration
3. Clean and comprehensive developer docs
WE ADDED A WALKTHROUGH VIDEO HERE: https://clipchamp.com/watch/OiB0veS7s8Y
LOGIN DETAILS:
Visit https://app.ngnc.online/
123456789
For #1 & 2
1. Reviewer should visit https://app.ngnc.online/signup
2. SCF Test as Business Name
3. Use test_scf14@stellar.org as Business Email
4. Get access to the bridge dashboard.
5. Reviewer should also visit
https://www.postman.com/spaceflight-explorer-27514502/workspace/link-bridge a test environment with all the Bridge API endpoints already setup.
6. Copy, API secret key, Business ID, and LINK_tag from The bridge dashboard and add to the required fields in the test environment to test out all api ends.
-The on/off ramps endpoint require a secret key, business id, and link_tag
-While all get requests require just a secret key but for the get transaction api which also requires a business id as a param.
Can also get more detail explanation on every endpoint or parameter from https://docs.ngnc.online
For #3
Clean & Comprehensive Docs fully ready for SDK and custom API Integration: https://docs.ngnc.online/ngnc-bridge-docs/
Usecases (FULLY COMPLIANT ON/OFF RAMPS FOR NAIRA)
LINK is building web3 Cross border payments infrastructure for Africa. To accomplish this, we're building: - WAVY (cka LINK P2P): Stablecoin Utility Super App for the World. - LINK Business (Paystack/Stripe for web3): web3 payments infra for global businesses, developers and payment service providers bridging traditional rails, DeFi rails and our settlements stablecoin NGNC for scale. - NGNC is a fiat backed Naira multichain stablecoin built for settlements.
Core Team:
Emmanuel Evarist (ebuka#7034)- CEO/ Co-Founder
Computer Engineer and Programmer with 7years of experience, ex-CEO & Founder FINC Arts (product design and Brand studio), ex-CEO & CTO FINC Markets, an algo trading platform for forex traders in emerging economies like Nigeria and India
https://www.linkedin.com/in/emmanuel-evarist-47a4a31b5
Marvel Ekpo (Iam_Marvel#0936)- 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
Tomisin Leshi (Unique-CTO#7629)- CTO/ Co-Founder
Software Engineer, Fullstack developer, ex- Software Engineer Cyprus Robotics (Robotics Manufacturing Company), ex-Software Engineer himylink (A digital Online Marketplace), ex-Backend Engineer Stritch (SME Shopping experiences)
https://www.linkedin.com/in/tomisin-leshi
Victor Nwaejie (ReKs#2107)- Brand Director/ Product Lead
Product designer, Former Graphic Designer at VOIS Cyprus: an NGO that tackles problems in the lives of students studying and living in Cyprus.
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.
*This budget request has been awarded to the project in XLM. 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.
*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.
*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.
*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.