Members of the Fellowship Collective involved in projects flagged by the OG tracker should provide a proper explanation, return the funds to the Treasury, or face expulsion.
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Rejected
Requested:
175.00 KSM
#479 An Innovative Token Concept On Kusama Asset Hub With Utilities Towards Using Kusama Network's Various Blockchain Features and To Liven Up The Kusama Ecosystem
Description
AI Summary
Votes Bubble
Timeline
Evaluation
On Chain Info
Stats
The Proposed Token Concept's
Name: Crypto VC Fund
Ticker: VCAP
Chain: Kusama Asset Hub
Liquidity Pair: VCAP/ KSM
Summary Use Case: A crypto venture capital fund concept to enable its holders to factually invest in, manage, and reap stakeholder benefits from fast-growing startup companies through making use of the blockchain functions; 1— DAO, 2— Stablecoins, 3— Dead Wallets, that will advance on an accomplishment of pre-announced milestones basis.
Draft White Paper: https://drive.google.com/file/d/1GsB7_oKBxdqwk6mmaFw0GrKIqHmv_QoA/view?usp=drive_link
Background Story: As a cryptocurrency investor since 2021 and a Polkadot ecosystem investor since 2022, I have recognized the Ponzi scheme characteristics of cryptocurrencies as their ultimate failure. As solution, I have decided to employ my experience in venture capital deals for bridging a crypto token to a profit-making, sustainable business within the framework of the experimental sister Kusama network of the Polkadot ecosystem, that stands out from other networks with its exceptional scalability and interoperability features, as well as its functioning DAO and vibrant community.
During my quests recently, in a Polkassembly discussion https://polkadot.polkassembly.io/post/2581 I feel blessed to have encountered Daniel (@danielo), the founder of the Virto Network with his emphasis on building DAO tools on Kusama network, to shortly team up with him as solution partners. In time, I am looking forward to further participation to ensure adoption of the project by the community.
In consideration of the foregoing, here is the breakdown of the expenses I request from the Treasury:
1— 160 KSM as initial liquidity on Kusama Asset Hub for the Token's VCAP/ KSM liquidity pair,
2— 8.5 KSM as the fee for updating the Token's information on Dexscreener, as detailed on https://marketplace.dexscreener.com/product/token-info,
3— 1.5 KSM to buy domain name for the Token's website,
4— 5 KSM as one-year X Premium+ subscription fee for the Token's X account.
Total Requested Amount: 175 KSM
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EvoL...oVus
A reasonable amount for an interesting experiment. Looking forward to assist in the creation of the DAO to showcase how a token in AssetHub can be managed permissionlessly with smart contracts and the decentralized governance of a DAO from a different parachain.
EFQV...Siag
Discover similar proposals
#509
E5qF...tqrg
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KSM RFP #1 - Shielded Kusama Hub Transfers - $50k Total Prize!
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Treasurer
Treasurer
#509 KSM RFP #1 - Shielded Kusama Hub Transfers - $50k Total Prize!
E5qF...tqrg
This RFP was adapted over several weeks on AAG to turn a treasury proposal in discussion to an RFP with refined scope and oversight.
To apply for the prize pls fill out this form.
Prize Pool: $43,000
Finder’s Fee: $2,000 **
Supervisors: $5,000
Supervisors (Bounty Curators)
- Flipchan
- Byte (Erin)
- James Slusser
Excess or unused funds will be returned to the treasury by Bounty Curators.
Timeline
Monday, March 17 - AAG Discussion & this forum post! ✅
Monday, March 24 - Single-ref Bounty + Curators ✅
4 Weeks after Bounty Funding - Submission Deadline Thursday
July 31 - Project Completion (Pending Kusama Hub Launch)
Project Scope
Smart Contract Development
- A Solidity-based smart contract deployed on Kusama Hub
- ZK enabled for private deposits & withdrawals
- Compatibility with all Kusama Hub assets
User Interface
- Browser-based, mobile-ready UI hosted on IPFS
- Support for: Deposits, Withdrawals, Transfers, XCM Transfers
- Compatible with popular ecosystem wallets (Nova Wallet, Talisman, Subwallet)
Anti-correlation Attack Mitigations:
- Fixed deposit amounts (e.g. 1, 10, 100, 1000 units)
- Batch payouts for withdrawals to multiple users
Interoperability - Ability to receive assets via XCM from any Kusama-connected parachain and transfer them to Kusama Hub for use in shielded pool.
Open-Source Delivery
- All code (smart contracts and UI) published under the MIT license
- Publicly accessible repositories Project updates shared transparently via Polkassembly, Subsquare, or Polkadot Forum from Team with Milestone deliveries
- Developer & User documentation
Milestones
Milestone 1, Initial Pools & Basic UI:
$16,200 USD
1 month
- Tests - Smart contract test
- Smart contract - ZK shielded smart contract with KSM and multi asset support on Westend or Paseo
- Basic UI - A basic UI for interacting with the smart contract
Milestone 2, UI + XCM:
$9,900
1 month
- Tests - tests for all features
- User interface design - UI design
- XCM transfers - XCM transfer assets in UI
- Fixed amount transfer only - Allow fixed amount transfers in the UI
Milestone 3, Mainnet Deployment:
$16,900
1 - 1.5 months
- Contract Migration to Kusama Assethub - Migrate contract from Testnet to Kusama Hub
- Public documentation - Documentation for using Kusama shield and developer integration documentation
- Test - tests for contract
- V1 UI - User tested & something we can be proud of
** re: Finder’s Fee: this payment is set aside to incentivize a broad search for the right implementor. Finder’s Fees are paid out at time of team engagement. Teams that submit themselves can collect their own Finder’s Fee at completion of project.
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