We are the creators of xBull Wallet and we have been updating it constantly with the vision of building services and products of top of it once it has reached maturity and large distribution. 

 
The first project we want to launch is xBull P2P Market, this is a fully decentralized and privacy focused P2P market into our wallet so people can exchange Assets in the Stellar ecosystem and Fiat without the need of a third party.

xBull Wallet’s development started on April 2021 and it was launched to the public on August 2021 as a chrome extension in the Google Chrome Store. Since August our wallet have been downloaded and is currently in use by more than 230 users, beside that we also launched the Android version on November 2021 and currently there are around 40 users using it at the moment. The wallet has been accepted with good comments from our users and we have been receiving feedback from the community. Creit Tech International Corp is a registered business in Panamá.

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xBull Market is a new product to include into xBull Wallet. We decided to start with the development and distribution of the wallet first so users will have a better experience with a P2P market, the wallet is in BETA stage but is pretty stable, currently is available in the Chrome web extension store and the Play Store for Android devices. 
 
Our Wallet can handle almost all of the operation types available in the Stellar Network and we added AMM support during the first week of deployment of protocol 18. 
 
With the development of xBull Wallet we are creating the roads where our projects will live and xBull Market will be the first one to see the light. 

Problem & Solution

On/Off ramps to enter into the Blockchain ecosystem have been always a tricky area because of so many factors. Stellar introduces a concept called “Anchors” in an attempt of solving this problematic, on paper this is the perfect solution but in reality, is really difficult to accomplish in low volume countries because of high costs and multiple regulations.

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Fiat Anchors face multiple challenges if they want to comply with the law and at the same time want to run a profitable business, because of this we approach the issue and try to solve it in a different way: A decentralized and privacy focused P2P market to exchange fiat and assets in the Stellar blockchain.

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Why Stellar?

Stellar is known for its fast and cheap transactions, a perfect solution for international and local payments... But it also has features that are perfect for this kind of solutions. For this reason, we have been developing our own open-source wallet so we can adapt it to serve our projects.

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Our P2P market requires the ability of having blockchain accounts with multi-signatures and the Stellar blockchain handles this in a fast and easy way. We also need a way to have custom assets and again the Stellar blockchain is perfect for this requirement.

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Why creating our own wallet?

Our P2P platform will be open-source and other wallet will be able to integrate it (it's not only a UI, it's a complete development including TSSs and web technologies) but the main reason to have our own wallet is that we need roads before having cars. Our wallet acts as the early adopter of the platform and this way we can offer the experience to others from the start without waiting, at the same time other parties can see how it works and then integrate it into their own solutions.

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Plus, having our own wallet helps us to develop, test and update faster so it made sense to dedicate a few months to have a stable wallet before starting with the main market project.

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What is the target market?

We understand the Latin American market as we have been in multiple countries and have communication with people around the region, we have seen the large adoption of P2P centralized markets like Binance P2P, Localbitcoins, Paxful, etc. Most of the users who use these solutions are those who don’t have access to big international exchanges or specific Anchors in their country (something common in multiple countries in the region). We expect that having an option which is completely decentralized and privacy focused will help them to get involved in the Stellar ecosystem.

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Is there a revenue model?

Both xBull Wallet and xBull Market don’t have a revenue model because they don’t need to have one. Both are tools that others can use and with them create their own models and businesses. Besides that, xBull Market introduces a new type of participant called “Watchdog” which it has its own revenue in exchange of their service to the ecosystem.

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What about competitors?

Biggest P2P market in the world is the job market and we have been using it for hundreds of years but since the introduction of cryptocurrencies we have seen a lot of centralized solutions come and go. Binance P2P, Localbitcoins and paxful are possible the most commonly used in Latin America and those which probably will last in the market but if you check a little more closely you will see that they don’t support XLMs and of course no custom asset issued in the Stellar blockchain.

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This creates a good opportunity for a Stellar based P2P market but if we make it centralized and only focused on one kind of market then is kind of the same, that’s why xBull Market is more of a platform than just a single market.

We expect that in the next 6 months of development we will be able to have the stable version of xBull Wallet in all platforms mentioned before and at the same time the first MVP of the P2P platform integrated into the wallet. 

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The budget to get to this point is the $USD 56,200, this budget is distributed in this way: 

• 6 months of Development of a Senior Full Stack Javascript Developer: $USD 48,000 
• Consulting services to establish a child company which will offer the “watchdog” services to early users: $USD 5,000 
• 1 Month of work from a UI/UX designer expert: $USD 3,200 
  

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