[DISCUSSION] Soli.xyz –– Fair Data Economy Grant

Title: Soli.xyz –– Fair Data Economy

Authors: Soli Leadership Team

Date: June 23 2022

Dear BitDAO community,

Thank you for your time and consideration of our soft proposal. Our organization, Soli, is reaching out to request a grant to fund the development of our technical roadmap. Recognizing BitDAO’s mission to accelerate next-gen organizations, we believe that our mission is aligned with public good such that a grant from BitDAO would enable us to work together advancing positive social change. Throughout this proposal, we will highlight our organization’s mission, progress, plans, and funding request.

The Mission of Soli

We believe that individuals who have access to smartphones and laptops constantly create a tremendous amount of valuable information passively. We are also aware that the consumer data economy is a massive digital ecosystem where billions of dollars are exchanged every year, and largely without the knowledge of the people whose information is being transacted. Thus, we envision a fairer future where individuals have insight into what businesses are accessing their data and, moreover, individuals get paid for their valuable personal data.

Our Progress So Far

We began with a mobile application that allowed consumers to contribute their data to our organization and rapidly scaled to over 100,000 people sharing location, search, demographic, and other types of frequently transacted types of consumer information. This initial application, Solipay, is still live, with more details available at https://solipay.tech. It was only recently, however, that we were able to secure a contract with an existing data broker that would like to purchase our data on behalf of some of the largest companies in the US, including brands such as Adidas, Gap, Levis, and thousands more. The particular type of information these organizations are looking to buy are real-time purchase datasets, i.e. bank transaction histories. With the infrastructure from our initial app, we were able to develop new software to collect this exact type of information. The new app is live today, with more details available at https://soli.xyz.

Future Plans

As our company continues to grow, we would like to become the world’s first web3 data wallet, where one’s crypto wallet and data footprint merge into a cohesive measure of identity that actually earns you the passive income you deserve from your data. This will require significantly more human capital across engineering, product, marketing, operations, sales, and more, which is why we are reaching out to leading web3 organizations, such as BitDAO, for additional support on our mission. Given that our efforts are intended to unilaterally empower individuals, we believe that there is significant potential for BitDAO to support and benefit from our endeavors.

Funding Request

We are requesting 1M BIT in exchange for a SAFE stake in our company with a token warrant should we launch a token to advance our company as well. These funds will go directly to expanding our existing team. Today, we have engineers with experience at major universities such as Columbia and Yale as well as established industry organizations such as NASA and IBM developing, with many more waiting to join upon receiving additional funding.

In all, we welcome conversation from the existing community, hoping that our altruistic mission is recognized as one worth funding. Thank you again for your time and consideration.

How will your proposal, if activated, benefit BitDAO?

We are offering BitDAO an equity and token stake in our company in exchange for BIT tokens. This investment can directly contribute to the treasury of the DAO.

What are the projected outcomes?

We envision the outcomes to be on-par with early-stage investing in blockchain enabled businesses like our own.

How long will it take to complete your proposed changes?

We will be working over the coming months and years to continue scaling our organization’s mission & contributing back to the DAO as such.

Who is involved?

Our Team has industry experience spanning NASA, IBM, Apple, Deutsche Bank, and an acquired cryptocurrency hedge fund as well as academic institutions including Stanford, Yale, Columbia, and more. Here is an extended list of our team members:

Leadership Team

  • CEO - Alex Nicita
  • CTO - Danny Dager
  • COO - Kwabena Ayim-Aboagye

Software Engineers:

  • Kiera Cawley
  • Liza Trundle
  • Jack O’Connor
  • Ori Spector

Operations Specialist:

  • Cassidy Williams

What are the milestones?

The milestones include scaling our new application Soli.xyz to 100,000+ active users by the end of this year, largely driven by support from leading crypto organizations like BitDAO.

Specifications:

  1. Timeline: 6 months for scaling the existing product, 1-2 years for additional product development and liquidity return on token investment.
  1. Budget: 1M BIT
  1. Add technical details and/or links to source documentation: See links above.
  1. Include any other relevant details on how this proposal will be accomplished: We will be working in close communication with members of BitDAO to receive product feedback and guidance as our organization scales.

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

We will immediately begin expanding our company’s operations in engineering, product, marketing, and sales. Specifically, we will be deploying capital into hiring from an existing talent pool of strong web3 developers waiting to join our organization upon receiving additional funding.

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Thanks for sharing your proposal with the BIT Community! If you’d like to join us on one of our upcoming Twitter Spaces for a Q&A, let us know here or in the #governance channel of the BitDAO Discord.

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