[ARCHIVED] NEPRIDAO & BitDAO - Bring DeFi to 3 Billion people with BIT


Proposal Title: Bring DeFi to 3 Billion People with BIT

Authors: Fabrice Alomo

Date: March, 1st, 20222

You can contact us directly through official@nepridao.io email or Fabrice Alomo can be reached on Twitter (@AlomoFabrice), Discord (via FabAI#0968), or Telegram via the handle @fabricealomo

Abstract

NEPRIDAO is a DAO that is already supported by Gitcoin community members.

The NEPRIDAO provides a foundation for people around the world to have greater access to inclusive, fair, lucrative, attractive, and sophisticated financial services and assets.

NEPRIDAO aims to raise funds to build the future of finance and a decentralized tokenized economy, democratize and bring DeFi to 3 Billion People, support builders of the decentralized economy, and other activities and projects the DAO may propose. It is an open platform for proposals that are voted upon by NEP token holders. It is agnostic to chains and projects.

Litepaper and Documentation: https://nepri.gitbook.io/nepridao/

How will your proposal, if activated, benefit BitDAO?

  • 100 million $NEP - as one of our early strategic partners and supporters, we would allocate 10% of our total token (100,000,000 NEP) offering to BitDAO. With 100 Million $NEP, BitDAO becomes the largest token holder.

  • Diversification + Revenues - Holding $NEP diversifies the BitDAO treasury and will give access to NEPRIDAO’s huge revenue streams when the community votes to implement revenue sharing programs with token holders. These are new huge and incredible lucrative revenue streams.

  • No fees . BitDAO will pay no fees for using NEPRIDAO products and services.

  • Help BitDAO to fulfill its missions by providing a foundation for people around the world to have greater access to inclusive, fair, lucrative, attractive, and sophisticated financial services and assets.

  • Contribute to the mass adoption of DeFi, and bring DeFi to 3 Billion People

  • We will dedicate 2 (two) multi-sig administrator seats to BitDAO - NEPRIDAO’s funds will be held in a 4/7 Gnosis Multi-sig.

Why did we create NEPRIDAO?

The promise of the internet was to connect billions of people through information and data. And it’s been successful at that: We can access a website around the world in seconds, share content, and interact with each other through emails, messages, photos, blogs, videos, and more.

But while the internet of information has succeeded, we’re still missing the internet of value.

But nearly two billion people in the world, despite having access to a smartphone, lack bank accounts or even identity documents. In fact, over half of Argentina is unbanked despite the high penetration of mobile phones. The situation is worse in Africa where an even higher percentage of the population lacks a bank account. Without basic financial services, people don’t have a straightforward way to receive or store value or easily pay for things, let alone establish assets, build credit history, invest, raise funds, finance their business or get a loan. As a result, this massive segment of the population is excluded from the global economy.

People have talked about crypto addressing inefficient payment mechanisms and the unbanked for some time. But volatility has plagued the space. And what actually exists today are technical, often disjointed solutions that not everyone is able (or willing) to put together to make a simple transaction. This is one reason mainstream adoption hasn’t yet happened. And until a working and smooth user experience takes hold and volatility is solved for, it may not.

Just as user experience and a user-friendly interface made the internet go mainstream, we believe a similar focus on usability in crypto could unlock the promise of internet money.

But why is it still not simple to send money across borders instantly with real-time settlement and direct clearing? Shouldn’t we be able to transfer value like we send a picture or the contents of an email around the world? While the internet of information has succeeded, we’re still missing the internet of value. For many people around the world, basic financial services are still out of reach: The cost of that exclusion is significant — $25 billion is lost by migrants every year through remittance fees. Why is it not simple for ordinary people in frontier and emerging markets to access funding, business, or personal loans without collateral to launch or grow their business, solve an emergency or unexpected problem? Why is it not simple and safe for ordinary people to access high yield savings to help them achieve their personal or professional dreams? Why is it difficult for ordinary people to invest and increase their money? What if we made money, access to funding, loans, investment, business education, passion economy, and savings truly simple, global, stable, and secure? What if everyone was invited to the global economy with access to the same financial opportunities? Introducing NEPRIDAO, a new DeFi platform designed for the digital and real-world, backed by the belief that money, payment, saving, loan, attention & engagement Economy, investment and Passion Economy should be fast, accessible, cheap, inclusive for Oga in Lagos, Khoza in South Africa, Uhuro in Kenya, Vadesh in India, Clara in Mexico, Ninho in Brazil. Simple to access funding and raise funds for Saul’s family business in Manila, Helene’s SME in Douala, Sandra’s enterprise in Botswana, Tshwane’s business in Tanzania and Uganda, Nabila’ family Company in Cairo, Barbara in Sao Paulo, Leon in Mexico City. And secure for Jimenez, Okafor, Mohamed, when sending money home to Mexico City, Accra, or Alexandria. It’s powered by Blockchain, making it safe and accessible no matter who you are or where you’re from…

We are demonstrating practically how DeFi can touch billions of end-users beyond speculation use cases.

Within the crypto community, we don’t think it is controversial to point out that DeFi are primarily used by insiders and enthusiasts, and mostly for speculation on crypto itself.

We say this without negative judgment. In fact, speculation is productive as it allows this nascent category to bootstrap something far more consequential. And yes, the next big thing usually starts out looking like a toy.

So far, DeFi has given us:

Developers building multi-billion-dollar systems from which they don’t benefit.

Developers submarining their communities to cash out early.

Liquidity providers pulling the rug from the system.

Fans FOMOing profits on tokens with endless inflation.

Governance tokens that don’t govern and only serve as rewards.

Voting that is nothing more than a poll that project developers may choose to execute — or not.

Big sacks of tokens pre-mined by founders at the expense of the community.

DeFi platforms that fail to meaningfully incentivize many of their stakeholders.

DeFi platforms built on smart contract platforms with fees so high that only large traders can hope to profit.

The cost of the nascent DeFi industry failing to promote such a set of requirements is that DeFi projects will follow ever-shortening cycles of fork, launch, mine, and dump until it becomes patently clear that there’s no future to these projects. At that point, we are likely to see general interest in blockchain and cryptocurrency wane again until some future cycle when the industry offers real value instead of schemes to get rich at the expense of others.

Still, this imposes the question, “how will DeFi cross the chasm?”

DeFi needs to solve a real problem and do so 10x better than alternatives in order to get mainstream users engaged.

But one extension of this line of thinking maybe that the most general DeFi protocols (e.g. stablecoins, money markets, exchange) may be the best positioned to benefit from composability with non-financial apps. The simpler and more general the protocol, the easier to integrate across new verticals. More complex financial products, like specialized derivatives, may see greater tailwinds from the later arrival of institutional capital, whenever Wall St. wakes up to see the size of the opportunity has grown beyond their wildest expectations.

One of the benefits of decentralized finance is accessibility . However, we find it hard to imagine the average retail investor (let alone a seasoned investor) understanding how to use many of the existing decentralized finance applications that exist today. Even if user experience challenges are addressed, it is questionable whether some applications (like flash loans, staking, yield farming, or derivatives) will actually be used by the masses with low financial literacy in emerging and developing markets.

We are shamed and deceived, with how our society functions, how wealth is controlled, how politicians lie to our face, how financial institutions run our government, and criminals run our banks.

Something needs to change and we have to do it now!!!

STRATEGY

  • Product development: build the biggest missing pieces of DeFi that finally unlocks its advantages and benefits for most people in the world for the mass adoption of DeFi & crypto

  • Build Decentralized Embedded Finance via strong partnerships with Embedded Finance companies to deliver the Decentralized Lending Infrastructure for Emerging Markets

  • Build TradDeFi and design products that bridge Fintech & CeFi and DeFi for the mass adoption of DeFi & crypto

  • Promote, partner with, and fund GameFi (DeFi Gaming Play-to-Earn) projects

  • Strategic Merging and Acquisition

  • Become the largest decentralized independent network of entities with multi-fractal expansion.

  • Boost partners to become category leaders via R&D, liquidity, funding, and operational support.

  • Attract builders and align incentives. Make the creation and operation of independent entities as convenient as possible.

  • Focus on fast execution of ideas. Encourage high experimentation with interim solutions based on policy, trust, and risk management mechanics.

  • Find ways for NEP value to be correlated to the whole ecosystem. Treat proposals as synergistic but also a negotiation of economic terms.

PRINCIPLES

  1. NEPRIDAO is not a company. It does not have a management team or employees. NEPRIDAO is a collection of builders and stakeholders who hold NEP tokens and are motivated to make the project a success.

  2. Anyone can propose partnerships and protocol upgrades for NEPRIDAO. NEP token holders will vote on whether to approve or reject these proposals.

  3. Holding NEP entitles holders to submit and vote on proposals. It does not entitle holders to impose their will upon other contributors.

THE ASK

NEPRIDAO receives…

Commitment by BitDAO of two funding tranches.

1st (immediate) tranche : $5M in USDC and $4M worth of BIT.

2nd tranche : $20M in USDC and $16M worth of BIT. This will be released after achieving the milestone of the 1st tranche.

Milestone of the 1st tranche :

-the launch of all NEPRIDAO’s related products. (nYUSD, NEPRI Clearer Network, RTL (Risk Tokenized Loans), VRTB - Venture Risk Tokenized Bond, ETO – Enterprise Token Offering, NEPRIV – A Cross-chain Platform Protocol for Tokenizing Risk, NEPRI TFA – Tokenized Fractional Asset, MANSA, QUIBI, AIGLE and Pioneers)

-Reach 5 Million users for our products

Initial mandate : $4.75M USDC for operations & marketing, development and launch of revenue generating products and assets, $250K BIT to be held in the Treasury as a long term hodl.

BitDAO receives…

The total amount of $NEP tokens is 1,000,000,000.

For the above agreement, BitDAO will receive 100M $NEP tokens. (This effectively values $NEP at $0.1/NEP from $5M USDC Tranche 1). These 100M $NEP tokens will remain locked for 12 months in a time-lock contract.

Similar to an options contract, if the NEPRIDAO builder team has NOT achieved the milestone within 12 months AND the value of $NEP has not 2x ($0.1) at the unlock – BitDAO will receive 100M more $NEP as bonus tokens. These bonus tokens will vest linearly over the following 12 months in a vesting contract.

What are the projected outcomes?

  • Product development: build the biggest missing pieces of DeFi that finally unlocks its advantages and benefits for most people in the world for the mass adoption of DeFi & crypto

  • Build Decentralized Embedded Finance via strong partnerships with Embedded Finance companies to deliver the Decentralized Lending Infrastructure for Emerging Markets

  • Build and design products that bridge Fintech & CeFi and DeFi for the mass adoption of DeFi & crypto

  • Reach 5 Million Users for our products and services

  • Leverage DeFi products and principles to achieve financial inclusion and financial prosperity for all

  • Community growth

  • Revenue streams

How long will it take to complete your proposed changes?

  • 10 -12 months

Who is involved?

NEPRIDAO is a DAO supported by Gitcoin community members.

Our strategic technical partners are:

-RAPID INNOVATION

-BLAIZE

What are the milestones?

-The launch of all NEPRIDAO’s related products. (nYUSD, NEPRI Clearer Network, RTL (Risk Tokenized Loans), VRTB - Venture Risk Tokenized Bond, ETO – Enterprise Token Offering, NEPRIV – A Cross-chain Platform Protocol for Tokenizing Risk, NEPRI TFA – Tokenized Fractional Asset, MANSA, QUIBI, AIGLE and Pioneers)

-Reach 5 million users for our products

Specifications:

  1. Timeline

2nd Quarter 2022

Dapps Release

-Creation of NEPRIDAO and Token (NEP) - Completed

-Launch of NEPRIDAO Protocol

-Launch nYUSD,

-Launch NURVIA - Risk Tokenized Loans

-Launch Tokenized Fractional Stocks and NEPRISWAP V1.0

2nd Quarter 2022

Dapps Release

-Launch of NEPRI Pioneers App

-Launch of NEPRI Clearers network for nYUSD-to-Fiat and Fiat-to-nYUSD

-Integration with Ramp

-Integration with Simplex

-Integration with MoonPay

-Launch of Mansar - DeFi based Neobank

3rd Quarter 2022

Dapps Release

-Launch of QUIBI - DeFi based Neobank for SMEs

-Launch NEPRIV

-Launch ETO platform

-Launch VRTB platform

2nd Quarter 2022 - 3rd Quarter – 4th Quarter 2022

NEPRI on Layer 2 and other Blockchains

Launch on Ethereum, Avalanche, Solana, Binance Smart Chain, Algorand, Cardano, Fantom, Celo, xDAI Stablechain, Cosmos, Polygon, Polkadot, Tron, Optimism, OMG Network, , Near, , EOS

4th Quarter 2022

Dapps Release

-Launch of NEPRI Aigle

-Launch of ET Exchange platform beta

-Launch of VRTB Exchange platform beta

-Launch of RTL Exchange platform beta

-Launch of NEPRISWAP V2.0

Q1-Q2-Q3-Q4 2022

Marketing and Sales

Increase exposure and grow the user base of NEPRIDAO

Partnerships

Introduce major players in the industry to NEPRIDAO

  1. Budget

BitDAO’s $5M commitment for the first phase will enable the launch and development of products, manage and grow the community, educate and build awareness around DeFi and Web3 benefits.

This amount will be used to finance operations the first phase of NEPRIDAO over 12 months.

The first products will be released this second quarter.

Resource Allocation

USE OF PROCEED

Key Shorter-Term initial products

I-nYUSD

nYUSD - The stablecoin that earns a yield while it’s in your wallet based on a Tokenized Risk Protocol. A stablecoin earning yield based on a fluctuation derivative protocol for hedging yield sensitivity and market price.

NEPRIDAO’s nYUSD Protocol will target a 30% fixed annual yield on its stablecoin nYUSD — the highest fixed stablecoin rate to date.

nYUSD, with its low-volatility savings protocol, aims to achieve this 30% rate bypassing borrowers’ staking rewards onto lenders, instead of charging a borrowing rate. The borrowing cost equals the lost staking rewards.

.

II-NEPRI Clearer Network

The nYUSD is a quick action in this economic crisis which makes it easier and cheaper to send and receive cross-border payments and money transfers, it allows Universal Financial Access when receiving and sending money, regardless of the corridors via the NEPRI Clearers Network giving to anyone with a smartphone and permanent Internet access in emerging and developing countries the opportunity to earn an additional sustainable income (3-5% per transaction processed and executed) by buying and selling nYUSD and NEP tokens to NEPRIDAO Community members.

One of the core hurdles to the adoption of cryptocurrency is the difficulty in obtaining it. Ease of access is necessary to transition our economies from fiat to digital currency and vice-versa.

In order to solve this problem, we propose the implementation of the NEPRI Clearers Network, which provides borderless, peer-to-peer fiat-to-nYUSD & nYUSD-to-fiat.

In this sense, NEPRI becomes a piece of a “Web 3.0” banking infrastructure and creates a global people-as-ATM network. This has particular utility in developing markets where cash-based economies are prevalent and credit card penetration remains low, tackling the famous ‘last-mile’ of the remittance market. The growing trade volumes observed on LocalBitcoins and Paxful, ~20M USD per week (Usefultulips 2022), serve as a testament to the viability of this model.

III-NURVIA – RTL (Risk Tokenized Loans)

NURVIA is a decentralized lending platform for loans without collateral. This is the missing piece that finally unlocks crypto lending for most people in the world. We are presenting NURVIA, a protocol building one of the biggest missing pieces of DeFi: loans without collateral. We believe this is the crucial step that finally opens crypto lending to the majority of the world. By decentralizing the process, DeFi can unlock an entirely new layer of underwriting capacity by allowing anyone to be a lender, not just banks. To get there, we’re starting in emerging markets, which have the most unmet demand.

While the DeFi market has typically been associated with rogue bands of retail traders, NURVIA is wooing an array of institutions to help build out its platform. The three-sided market is made up of borrowers looking for capital, liquidity providers, and backers of the loans. It’s an amazing opportunity for credit funds managing billions that are looking to lend and lending financial technology firms that are looking to borrow.

IV-NEPRI VRTB - Venture Risk Tokenized Bond

The Venture Risk Tokenized Bond is an asset class native to the NEPRI platform, targeting the $1 Trillion Personal Finance market.

Personal finance is one of the fastest-growing segments in the financial industry. Not long ago, personal finance was a vehicle of wealth management and growth for just savvy, middle-aged men.

One of the greatest advantages of this has been the expansion of financial products available to households. Personal finance is still in a nascent stage; the incredibly higher annualized growth rate is great evidence for this. The personal finance market grew by nearly 48% from 2019 to 2020.

The high growth figure may deceptively hint the market is currently too small. The reality is that the personal finance market is on par to hit $1.1 trillion by the end of 2020.

A trillion-dollar market that is growing by nearly 50% year on year.

Building Venture RISK TOKENIZED Bonds (VRTBs)

A Venture Bond is a structured financial product designed to do the following:

  • Enable startups/SMEs to issue a bond accessible to retail
  • Deploy money collected from bond purchasers to generate interest on principal
  • Swap interest for tokens: the interest generated by the bond is given as funding to startups, while the retail purchasers of the bond earn tokens

With the bond, retail only captures 15% of the growth in the swapped equity or tokens. So, a 100x

translates to 1,000% nor 10,000%. Even then, 1,000% is far, far more exciting than 10%, yet it

does not risk principal funds.

V-NEPRI TFA (Tokenized Fractional Asset) – cross-chain Tokenized Synthetics protocol for on-chain price exposure to real-world tokenized fractional assets – accessible to all.

NEPRI TFA (Tokenized Fractional Asset) is a DeFi protocol powered by smart contracts that enables the creation of synthetic assets called Tokenized Assets (tAssets). tAssets will mimic the price behavior of real-world assets and give traders anywhere in the world open access to price exposure without the burdens of owning or transacting real assets.

A new protocol for synthetic tokenized asset creation - NEPRI TFA synthesizes the primary innovations of DeFi – including Automated Market Makers (AMMs), oracles, stablecoins, and liquidity mining – to enable permissionless minting and trading of traditional assets. NEPRI is uniquely positioned as a capital efficient system using stablecoins, reducing collateralization requirements to only 120%, a vast improvement over comparable systems which are typically collateralized upwards of 400-500%.

NEPRIDAO will launch with support for a select number of US equities, and will decentralize ownership of its native governance token NEPT via a community-first distribution strategy.

VI- MANSAR – a neobank for unbanked and underbanked built on top of DeFi rails

It does everything you’d expect from a bank - without the bank. Store, Pay, and send; earn interest and invest. Without borders, barriers, or boundaries.

And only you can access your assets. Not us. Not anyone else.

By Joining Mansar, you are part of a corruption-free community deeply integrated with Network Effects with Inclusive, Constant, and Enormous Value Creation. Earn a 5% Bitcoin and Top 10 crypto rewards on your debit/prepaid card - Save safely with nYUSD token savings accounts to realize your personal or professional dreams – Make seamless payments, send money quickly and safely across borders with real-time messaging, instant settlement, and direct clearing using nYUSD – Pay in 30 days or split into several payments with zero interest. No interest, no hidden charges. Buy today and split the cost of your purchase over multiple installments. Buy now and pay later with no hidden charges – easy and transparent – Earn money and a sustainable income by becoming a NEPRI Clearer – Invest or Buy a business to increase your wealth with NEPRI Venture Risk Tokenized Bonds and NEPRI Enterprise Tokens – Finance or Sell your business, Raise funds to grow and scale with NEPRI ETO, the Nasdaq for Emerging markets, and ordinary people – Trade your NEPRI Enterprise Tokens on the NEPRI ETExchange, trade your NEPRI Venture Risk Tokenized Bonds on the NEPRI VRTB Exchange – Buy fractions of shares such as Tesla, Amazon, and Apple using your nYUSD, fractional stock trading allows buying less than one share, and it is particularly useful for high-cost stocks – Access non-collateralized individual loans with NEPRI Personal Loans or NEPRI Quick Loans, based on NEPRI proprietary Fair and Inclusive Scoring – Access remunerated jobs opportunities with decentralized ownership economy by becoming a NEPRI Pioneer.

Mansar allows anyone across the globe to access a decentralized, global financial marketplace that provides all the services traditional financial institutions offer. For example, a woman running a market stall in Kenya or in Nigeria is able to borrow funds without collateral at competitive rates from NEPRI loans using just her smartphone. Conversely, a merchant in India, Mexico or Indonesia who is concerned about inflation could place funds into a yield-generating saving account on Mansar that earns a higher APR than India’s prevailing inflation rate.

VII-QUIBI - a neobank for SMEs built on top of DeFi rails giving you a 30% APR on your account

QUIBI is a DeFi based neobank focused on business bank accounts. We will focus primarily on small and medium companies as well as freelancers.

Moreover, QUIBI is the neo-bank for growing, daring, and innovating SMEs, independents, freelancers, and professionals. The ideal business account for SMEs, replacing or supplementing your business bank account. QUIBI makes banking services for SMEs easy, efficient and transparent, leveraging technology, sleek design, and world-class customer service.

QUIBI is the financial operating system for the next generation of businesses

Debit cards, bank accounts, payments, expenses, and accounting are all in one place to put you in control of your growth.

We do not want to create another bank, but another type of bank, a neo bank capable of helping SMEs finance their growth and their digital transition for daily budget management, QUIBI offers to SMEs an intuitive current account available on computer and mobile with simple and transparent pricing.

QUIBI is a trusted platform that lets businesses build a transparent financial track record, that helps SMEs obtain better access to instant short term lending Integration of Blockchain technology with accounting data is a way to improve transparency, automate lending, and accelerate processes.

For SMEs, Quibi provides the following:

1-Loan and Line of Credit via Nurvia RTL (Risk Tokenized Loans)

A line of credit from QUIBI can help you manage your cash flow.

Our line of credit from Quibi can help you manage your business cash flow, leveraging a trusted platform that lets businesses build a transparent financial track record, that helps SMEs obtain better access to instant short-term lending.

Moreover, with QUIBI Business Funding we will finance 10 million SMEs by 2030 with a minimum of $1000 and a maximum of $1Million non collateralized loan for each, and each of them employing directly and indirectly minimum 10 persons, therefore contributing in the creation of 100 million jobs and impact, with a direct focus on providing 5 million women entrepreneurs with solutions that can help them grow their businesses.

2-Fundraising via VRTB and ETO

With VRTB and ETO our goal is to finance 100 enduring companies by 2030 in each of them making $1 Billion revenue per year, we will power and build the next wave of enduring unicorns.

3-An efficient SME account to focus on the essentials

4- Discover Programmable Cashflows

Handle subscriptions, payments, salaries, rewards and any composable stream of value, with continuous settlement and per-second netting for extreme capital efficiency.

Easiest way to collect & track payments with on-chain real-time finance

Hassle-free vendor & salary payouts with on-chain real-time finance

No capital lockups

Instant and Continuous

Stream funds on a per-second basis. Pause, resume and cancel whenever you want.

As a worker, you see your earnings increasing in real-time in your wallet. As an organisation, our technology helps you get rid of the hassle of payroll admin and invoices payments. After a one-time deposit, our smart contracts will start “streaming” the money towards the payees, without you lifting a finger again.

PRODUCT DEVELOPMENT

PHASE 1:

Our goal is to build DeFi products that will impact the life of people and bring DeFi to 3 Billion people. We will allocate resources to build Shorter-Term initial products listed above for the first phase of NEPRIDAO. We are demonstrating practically how DeFi can touch billions of end-users beyond speculation use cases.

For us, the most important is A “Real” Crypto Economy: financial and non-financial consumer apps leading the way. To us, the most exciting path to mainstream adoption follows from a “real” economy built on crypto rails. That is an economy that is not in service of crypto speculation itself, but rather related to concrete goods and practical services whose economic layer is coordinated on-chain.

Our view is that DeFi gets a lot more interesting once there are mainstream users conducting real economic activity on-chain, beyond crypto speculation. How that might materialize is the challenge we are solving with the products we will develop.

PHASE 2:

Phase 2 will start once the Shorter-Term initial products are launched and used by our target users, we will then focus on initiatives related to DAO and Governance Products, Gaming Play-To-Earn, NFTs and Metaverse.

EDUCATION & GRANTS

The goal of our initiative is to help our communities learn about Web 3 mainly through the practice and use of Dapps, but it is clear that many people will be interested in having more theoretical learning about since how blockchains work, what is DeFi, what are NFTs, what are DAOs, tokens and metaverse or even more basic aspects like financial education.

Real freedom and prosperity come through access to knowledge and education, and we believe it’s critical that we allocate resources to this.

GOVERNANCE AND RESOURCE MANAGEMENT

NEPRIDAO will be owned and governed by NEP token holders. Our initial policy is for the following actions to be executed only after a successful proposal and vote:

  • token swaps with existing and emerging projects.

  • merging and acquisitions

  • treasury allocation into various projects or independent entities (in the form of funding, liquidity support, and grants)

  • updates to NEPRIDAO core protocols (including governance and treasury management functions).

We imagine that these policies will change overtime after discussions with the NEPRIDAO community.

NEPRIDAO’s funds will be held in a 4/7 Gnosis Multi-sig.

BITDAO is given a $NEP token in return for their funds, serving as a governance token in NEPRIDAO’s proposal system, that will be managed on the Snapshot platform. Any holders of $NEP will be able to make and vote on proposals, with votes weighted by the token share.

We will dedicate 2 (two) multi-sig administrator seats to BitDAO, all of our multi-sig administrators will have their specific skills and expertise, being responsible for parts of the project in addition to the governance tasks.

In Phase 1 NEPRIDAO will utilize the industry standard setup of Gnosis Safe, Gnosis Snapshot off-chain governance, and multi-sig administrators.

In Phase 2 NEPRIDAO will look to build a custom governance module, most likely referencing on-chain upgradeable solutions such as Compound Governor Bravo.

Additionally, as one of our early strategic partners and supporters, we would allocate 10% of our total token (100,000,000 NEP) offering to BitDAO administration. The token has not yet been offered on the market, we are planning to launch it with partner companies and interested parties. Tokens will be transferred immediately if the proposal passes.

SUSTAINABILITY

We will make money from the following revenues:

-Transaction fee for trading Tokenized Fractional Stocks

-Revenue from merging and acquisition deals

-Commission per Risk Tokenized Loan successfully raised

-Commission per Venture Risk Tokenized Bond successfully raised

-Commission per ETO successfully raised

-Commission per trading on RTL Exchange, VRTB Exchange, and ETO EXCHANGE

-Commission per trading on ETs, VRTBs and RTLs on NEPRI SWAP

-Commission on Interest Rate from Loans

-Transaction fee on nYUSD transaction

-Monthly recurring revenue from Mansar neo-bank

-Monthly recurring revenue from QUIBI neo-bank

Next Steps? If this proposal is accepted, what are the immediate action items?

  • We will transfer NEP Tokens immediately to BitDAO if the proposal passes

  • Strengthen team with new hiring

  • Build and Grow

  • Make things happen

Thank you so much for reading and please vote to bring DeFi to 3 billion people to cross the chasm!

3 Likes

We are looking to receive feedback, remarks, and questions from the forum to better our proposal. Feel free to share your thoughts on the proposal, suggestions, questions, and remarks if necessary.

Temperature Check Poll

Would you like to see this proposal go to vote?
  • Yes

  • No

  • Needs work

0 voters

The goal of this proposal is to make NEPRIDAO the leading autonomous entity of BitDAO.

Let’s make it happens.

They are repeating some web3 concepts, nothing new, and no in-depth content. For example, how does the borrower achieve a 30% interest rate? What is the algorithmic mechanism?
The description mentions “loans without collateral”, what’s the mechanism? How can a completely anonymous loan without collateral be achieved? It doesn’t sound logical. It’s like you tell a stranger on the street: Hey bro , you can get a sum of money with me without leaving any collateral :).
I don’t have any interest in a product that targets 3 billion users before it’s even started, it looks more like a fictional concept. I hope you guys can make something and ask for money instead of rhetoric.

Thank you dear @Norton for your remarks and questions.
First of all, I would invite you to read, read and read!!! before you ask questions and share your opinions, which are biased opinions that may mislead the community. If you took the time to read our documentation you won’t probably ask those questions. We cannot write all the mechanisms of NEPRIDAO’s products in the proposal, you have limited characters to submit your proposal.
Secondly, we didn’t say that we are going to create DeFi, it is already created, we didn’t say we will reinvent DeFi, our goal is to push DeFi to the masses and bring it to 3 Billion people, and to do so you need to build products that solve problems leveraging DeFi principles, in such a way that they find value in your products and adopt it in their daily habits and operations.
There are around more than 10 million people who are active in the DeFi space based on the number of wallets. You are here because you are an insider, you know about DeFi and Web3, but billions of people don’t. Meanwhile, DeFi and web3 bring exponential benefits and advantages for our target users. This is our mission and the one of BitDAO.
For the people we are targeting, the products we are building are new, necessary, game-changing, important, most needed, and in-depth content. For our investors and partners, it is a lucrative, impactful and exponential initiative.

Now I will answer your questions

1-how does the borrower achieve a 30% interest rate? What is the algorithmic mechanism?
You will find answers to your questions below:

We will be focused on the following types of strategies:

  • Lending fees

  • Automated market maker fees

  • Rewards tokens provided by the above and new DeFi protocols

  • a fluctuation derivative protocol focusing on tranching default risk and smart contract risk

  • Lucra Protocol - Lucra is a savings protocol offering low-volatile yields on NEPRI Yield USD (nYUSD) stablecoin deposits . The Lucra rate is powered by a diversified stream of staking rewards from major proof-of-stake blockchains, and therefore can be expected to be much more stable than money market interest rates. We believe that a stable, reliable source of yield in Lucra has the opportunity to become the reference interest rate in crypto.

The Lucra protocol defines a money market between a lender , looking to earn stable yields on their stablecoins, and a borrower , looking to borrow stablecoins on stakeable assets. To borrow stablecoins, the borrower locks up lended Assets (lAssets) as collateral, and borrows stablecoins below the protocol-defined LTV ratio. The diversified stream of staking rewards accruing to the global pool of collateral then gets converted to stablecoin, and then conferred to the lender in the form of a stable yield.

  • AutoYield, the Hyper-optimised cross-chain yield aggregator — AutoYield is a yield farming aggregator running on both Solana, Ethereum, Avalanche, Polkadot, Binance Smart Chain (BSC), Huobi ECO chain (HECO), Kusama, Fantom, and other layer-2 scaling solutions. The DApp (Decentralised Application) is designed with the purpose of optimising DeFi (Decentralised Finance) users yields. It has the goal of optimising DeFi users’ yield farming at the lowest possible cost.

AutoYield Vaults is a yield optimizer application focused on providing DeFi users with auto-compounded yields at empirical optimal intervals, whilst pooling gas costs through battle-tested smart contract code and best-in-class yield optimizing strategies. AutoYield will use a proprietary dynamic harvesting optimizer to enable the highest APYs on our vaults.

“Only the best yields, automatically.”

With nYUSD, there’s no need to unwind complicated positions when you want to spend your nYUSD. You can transfer it freely without having to pay gas to unlock spendable capital. In addition, nYUSD gives you access to some of the highest-earning opportunities across DeFi with none of the hassles. The nYUSD smart contract will deploy your underlying capital to a diversified set of yield-earning strategies, rebalancing over time to achieve great yields while diversifying risk. Earnings automatically accrue in your wallet and compound continuously while you hold nYUSD. Again, no staking or lockups are required. nYUSD also serves as an ideal unit of account. DeFi investors no longer need complicated spreadsheets to calculate their earnings as they can easily see their constantly updated nYUSD balances in real-time as their interest compounds automatically. nYUSD is an ideal stablecoin for novice cryptocurrency users alike.

2-The description mentions “loans without collateral”, what’s the mechanism? How can a completely anonymous loan without collateral be achieved?
You will find answers to your questions below:

ABSTRACT
The protocol works by extending credit lines to REPUTABLE lending businesses and SMEs on NURVIA App. These SMEs and lending businesses use their credit lines to draw down stablecoins from the pool, and then they exchange it for fiat and deploy it on the ground in their local markets. In this way, the protocol provides the utility of crypto — specifically, its global access to capital — while leaving the actual loan origination and servicing to the businesses best equipped to handle it.

On the investor side, crypto holders can deposit into the pool to earn yield. As the lending businesses make their interest payments back to the protocol, they’re immediately disbursed to all investors.

A Risk Tokenized Loan is a structured financial product designed to do the following:

1. Enable SMEs and reputable lending businesses to ask for a loan by issuing a Risk Tokenized Loan accessible to retail

2. Deploy money collected from lenders/investors and Risk Tokenized Loan purchasers to generate interest on principal in overcollateralized DeFi/CeFi margin lending markets

3. Swap interest for Risk Tokenized Loan: the interest generated by the loan is given as funding to SMEs and reputable lending businesses, while the retail purchasers of the loan earn tokens

4. At loan maturity, loan underwriters and RTL buyers are returned their principal plus interests

While the loans may generate just 8% to 15% in interest, which as mentioned above is nothing special, the Risk Tokenized Loan they are swapped for could 100x or even 1,000x.

With the loan, retail only captures 15% of the growth in the swapped Risk Tokenized Loan. So, a 100x translates to 1,000% nor 10,000%. Even then, 1,000% is far, far more exciting than 15%, yet it does not risk principal funds.

Of course, the swapped Risk Tokenized Loan may go to 0, which is the key reason retail has been aversive to lending, to begin with. However, with the Risk Tokenized Loan, the principal was never exposed to loans. So even if a swapped loan reaches -100%, the net return in fact leads is a 1x return, essentially no change in portfolio.

It is your opinion to have no interest in products that targets 3 billion users before it’s even started, but it is not the case for billion of people. And yes it always looks more like fictional and rhetoric, people said the same at the beginning of the DeFi industry, but today +100 Billion market cap.

If we had enough money to build these products we will not be asking for money, we will just build, ship, deliver and execute on our mission and vision. But when you don’t have enough you simply ask the ones who have enough. That’s why we want to become an autonomous entity of the BitDAO. But we will be fully transparent and accountable with the money we are asking,.

NEPRIDAO’s funds will be held in a 4/7 Gnosis Multi-sig.

BITDAO is given a $NEP token in return for their funds, serving as a governance token in NEPRIDAO’s proposal system, that will be managed on the Snapshot platform. Any holders of $NEP will be able to make and vote on proposals, with votes weighted by the token share.

We will dedicate 2 (two) multi-sig administrator seats to BitDAO, all of our multi-sig administrators will have their specific skills and expertise, being responsible for parts of the project in addition to the governance tasks.

In Phase 1 NEPRIDAO will utilize the industry standard setup of Gnosis Safe, Gnosis Snapshot off-chain governance, and multi-sig administrators.

In Phase 2 NEPRIDAO will look to build a custom governance module, most likely referencing on-chain upgradeable solutions such as Compound Governor Bravo.

Let’s vote now to bring DeFi to 3 Billion people !!!