DAO Grants: Wave 4 Application
Project Name: OneClickBTCInvestments
Applicant Name: Kamal Singh
Contact Information:
- Email: kamalthedev7@gmail.com
Project Overview:
Problem Statement:
Retail investors face significant challenges when investing in Bitcoin assets, including:
- High gas fees and complex transaction processes on Bitcoin’s native chain.
- Limited access to diversified Bitcoin asset portfolios.
- Complex bridging mechanisms between Bitcoin and Layer 2 solutions.
- Lack of risk-adjusted investment options tailored to different investor profiles.
- High barriers to entry for newcomers interested in Bitcoin asset investments.
Solution:
OneClickBTCInvestments democratizes Bitcoin asset investments by offering:
- Smart basket technology( ERC-7621) for diversified portfolio management.
- Seamless cross-chain integration utilizing Layer 2 solutions like Rootstock and BOB.
- Implementation of the ERC-7621 standard to create risk-adjusted, diversified portfolios of Bitcoin assets.
Project Objectives:
- Enhance the utility of Rootstock by providing user-friendly investment solutions.
- Drive ecosystem growth through increased adoption and engagement.
- Showcase Rootstock’s potential in financial applications by offering unique use cases.
Alignment with Wave IV Objectives:
- Building Natively on Rootstock: Our project utilizes Rootstock as the primary blockchain infrastructure, leveraging its smart contract capabilities to facilitate seamless and cost-effective transactions.
- Integration of RIF and stRIF Tokens: We plan to incorporate RIF and stRIF tokens into our investment products, enhancing their utility and providing additional value propositions to our users.
Project Milestones and Funding Requirements:
-
Milestone 1: Testnet Launch
- Duration: 1 Month
- Tasks:
- Develop and deploy smart contracts on the Rootstock testnet.
- Integrate user interface with testnet functionalities.
- Conduct internal testing and quality assurance.
- Deliverable: Functional MVP on the Rootstock testnet, including features such as risk-categorized investments and seamless cross-chain integration.
- Funding Required: $2,000
-
Milestone 2: Mainnet Launch
- Duration: 1 Month
- Tasks:
- Deploy audited smart contracts on the Rootstock mainnet.
- Implement user interface enhancements based on testnet feedback.
- Initiate marketing and user acquisition strategies.
- Deliverable: Live platform on Rootstock mainnet with active user engagement and initial investment products available.
- Funding Required: $2,000
-
Milestone 3: User Acquisition and Growth
- Duration: 1 Month
- Tasks:
- Execute targeted marketing campaigns to attract users.
- Provide user education and support for platform navigation.
- Gather user feedback for continuous improvement.
- Deliverable: Achieve 1,000 active users and process 5,000 transactions within the first month post-launch.
- Funding Required: $1,000
Total Funding Requested: $5,000
Team Background:
- Kamal Singh: Blockchain Developer with over 5 years of experience and a track record of winning 35+ web3 global hackathons.
Conclusion:
OneClickBTCInvestments aims to lower the barriers to Bitcoin asset investments, making it accessible and straightforward for retail investors. By leveraging Rootstock’s robust infrastructure, we provide diversified, risk-adjusted investment options that cater to various investor profiles, driving adoption and engagement within the Rootstock ecosystem.
Supporting Documents:
- Video Presentation: https://www.youtube.com/watch?v=yC2T_wQ2HZM
We appreciate the consideration of our application and look forward to the opportunity to contribute to the Rootstock ecosystem.