Bringing ROVI Network - a proven platform (14M+ transactions on-chain already on a L2) - to Cardano ecosystem. Web3 Mass Distribution Infrastructure+Platforms Cryptofying existing daily life habit of Messaging, Gaming and Payments.

[GENERAL] Name and surname of main applicant

Anshul Verma

[GENERAL] Email address of main applicant

anshul@rovi.network

Additional applicants

Nitin Gupta - nitin@rovi.network

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

3

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language.

No

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

No

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.” .

No dependencies.

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] If NO, please describe which outputs are not going to be open source. If YES, please write “Project will be fully open source.”

• All infrastructure building blocks like social wallet would not be open source.
• All Dapp source code (Crypto SuperDapp, AI Keyboard) would not be open source.

This is because the application components would remain proprietary to the ROVI community and ROVI DAO.

All smart contracts and token integration code components which integrate ROVI products into Cardano ecosystem would be fully open source.

[METADATA] Category of Proposal

dApp

[IMPACT] Please describe your proposed solution.

What is ROVI Network?

ROVI Network is a Web3 Mass Distribution Platform to bring next Billion users to Crypto. The ecosystem is equipped with highly rich on-chain transactional data of mass users and is an open network for any high utility, high quality Web3/Crypto use-case to plug into and leverage the distribution. ROVI Network is powered by $ROVI token at the heart of its Web3 ecosystem.

Problem

Crypto and Web3 is too complex for a normal mass user demography. There is complexity in 1st generation Web3 wallets usage, complexity in gas fees payable in different tokens, and complex fiat-to-crypto and crypto-to-fiat rails for a normal mass user to adopt easily.

Solution

Build critical infrastructure to bring best of Web2 experiences to Web3. Bring Crypto as a utility piggybacking upon existing daily life behaviour of masses. 

Why this team?

ROVI Network team is a highly talented and experienced team, led by 4 times repeat Founders with 20+ years of experience, having built multiple successful distribution led scalable and sustainable businesses in the past. Previous products built by this team reached 30M+ users organically.

Project Impact/Existing Traction

Within 6 months of token launch on Ethereum and transactional layer on a L2 chain, ROVI Network dapps have become #1 across all chains on L2 protocol with 200K+ wallets, 14M+ on-chain transactions, revenue positive, super high user engagement of 50 mins+ every month, 2+ times avg dapp opens per day and growing fast! (as of 10th July, 2023).

See live token action --> 

https://blockexplorer.bnb.boba.network/token/0xCc503242b574BC01145Da7E2A743b43fB395eC91/token-transfers

https://blockexplorer.bnb.boba.network/token/0xa88D4d3a623B07Af04b6641A5a72797FA52d478b/token-transfers

See live analytics --> 

https://analytics.rovi.network

ROVI Network Ecosystem Products - Infrastructure

1) Rovi.money - World's simplest and safest 1-click, non-custodial, social wallet. Shareable and usable on Messaging/Email/wherever via a simple link! Equipped with on-ramp/off-ramp to convert fiat to crypto or crypto to fiat in 200+ countries. Supercharged by an ecosystem to utilize tokens on multiple daily life utilities starting with highly addictive casual social games

2) Gasless Transaction Engine - A completely gasless transaction infrastructure to allow users to make Crypto transactions across any chain, just like paying shipping fees while checking out on Amazon, using $ROVI native token only.

ROVI Network Ecosystem Products - Dapps

1) ROVI Crypto Daily Use Superapp - Get Rewards (attention currency) for time spent on WhatsApp, Gaming or on making fiat payments on local shops! Spend Rewards to get discounts on various daily life utilities (like bills, shopping, lifestyle, gaming, financial services). Any high utility, high quality Web3 utility can plug into the superapp ecosystem through various APIs and modules available.

 

2) ROVI Crypto Keyboard - Setup AI Android keyboard in 2 clicks and start earning Rewards (attention currency) on any Messenger of the world inclusing Whatsapp, Telegram, Wechat, Kakao, Line etc!

Explore ROVI Network Dapps from below links : 

ROVI Crypto Superapp —> https://play.google.com/store/apps/details?id=com.money91

ROVI Crypto Keyboard —> https://play.google.com/store/apps/details?id=com.kb91

Why is this important to Cardano?

Cardano ecosystem needs Dapps and utilities which can help them reach masses at scale, along with more daily life utilities for normal folks on ADA token.

With ROVI Network's solutions, porting their transactions layer on to Cardano blockchain, it can immensely help bringing Cardano chain on Steroids in terms of transactional volumes, wallets, users and activity/adoption from the backstage.

Business Model

ROVI Network is a transactional platform from Day 0 with time tested proven business models of B2C and B2B commissions/spreads/take-rates. 

• Transaction Commissions - Paid by businesses/utilities. 1%-30% commission per transaction/sale for accessing highly targeted distribution

• Trade Commissions - Paid by users of network. 0.5%-5% commission per trade depending on digital asset

• Gaming Spreads and Commissions - Paid by users of network. 1%-10% commission per gaming contest or game pool

• Investment Spreads - Paid by users. Upto 5% spreads for high quality, super simplified DeFi investment strategies in digital assets

• Payment Spreads - Paid by fiat payment networks. Up to 1% spreads on every payment by user in real world.

Token Value Accrual

$ROVI has a fixed supply of 1B tokens. The token is deflationary as 30% of all $ROVI token revenues generated from ecosystem products is burnt monthly (starting from July 2023). The token revenue burn will continue till at least 60% of token supply comes in circulation. The tokens can either be bought from the market OR minted by converting ecosystem Rewards to tokens. The minting can happen only if user has spent on the ecosystem on various daily life utilities. The price of conversion (from Rewards to $ROVI) keeps increasing month on month, depending on how much supply is in circulation. The current rate of conversion is 95 Rewards == 1 $ ROVI token (as on July 2023).

Token Utility - Demand from Users

• Use token in Utilities, Games, Shopping - Get discounts on bills, shops, services. Play token gated games. Access token gated utilities.

• Get Ecosystem Privileges - Token holders will ultimately pay less commission fees, less gas fess, get higher rewards minting power.

• Get Staking Rewards - Stake tokens and get attractive rewards from staking pool driven by platform revenues.

Token Utility - Demand from Businesses

Businesses buy tokens from the market to access highly targeted, large mass distribution in 1-click, powered by highly rich on-chain user behaviour and transactional data!

• Highly Targeted Distibution - Think "Cost per click" paid in $ROVI tokens to access distribution

• Pay for Transactions - Think "Cost per Sale" paid in $ROVI tokens.

• Highly customized placements - Think "Cost per impression" paid in $ROVI tokens

[IMPACT] How does your proposed solution address the challenge and what benefits will this bring to the Cardano ecosystem?

Impact/Value to Cardano Ecosystem

The proposal is to integrate Cardano blockchain in ROVI Network products, and use Cardano as the transactional layer for all token transactions that happen in the ecosystem.

The immediate impact and value to Cardano ecosystem would be --> huge immediate scale in terms of # of transactions, # of unique wallets and # of unique transacting users on the chain.

How do we quantify value?

We already have a runrate of 4-5M transactions/month on-chain on a L2 which we currently support. Our proposal is to add Cardano as the new blockchain supported and use it to publish transactions generated from new users activity on the platform. We will achieve to bring 15000 new unique users/wallets, doing 0.5M+ transactions a month on-chain on Cardano within 2 months post our deployment as a proof of concept.

[IMPACT] How do you intend to measure the success of your project?

Why are measures realistic?

ROVI Network already has done 14M+ transactions on a L2 chain. Please see below for on-chain verifiable activity. Our proposed deliverables vis-a-vis what we already generate in terms of transactional activity on our platform are quite realistic as is evident.

• See live token action --> 

https://blockexplorer.bnb.boba.network/token/0xCc503242b574BC01145Da7E2A743b43fB395eC91/token-transfers

https://blockexplorer.bnb.boba.network/token/0xa88D4d3a623B07Af04b6641A5a72797FA52d478b/token-transfers

• See live analytics --> 

https://analytics.rovi.network

Success Criteria

The success of the project would be measured on very simple objective parameters - # of new unique wallets created and # of transactions on-chain, attributed to ROVI Network, in 2 months post our completion. Based on the results achieved, it will set foundation for a more larger, deeper collaboration between Cardano and ROVI ecosystems.

[IMPACT] Please describe your plans to share the outputs and results of your project?

How do we spread output?

We have identified and proposed clear milestones and timelines along with action items spread over a period of 3 months - which can be viewed in the milestones section of our proposal.

How will we share outputs?

We will share outputs through clear verifiable on-chain reporting (through chain querying) at https://analytics.rovi.network as well as appropriate links to chain explorers

With whom will be share outputs?

We will share outputs with the community forums or community manager/POC as appropriate.

What opportunities might arise out of the project output?

Post our completion of all milestones, the above proposed measurable output serves as a POC for ecosystem to see what value ROVI distribution network can bring to Cardano ecosystem in terms os user scale, transaction scale. This will serve as a base to further evaluate and engage in larger deeper collaborations towards a much large vision and goal of bringing millions of new users and billions of transactions to Cardano ecosystem.

How would results get used further?

The results from this POC project would help us evaluate and design/develop further solutions and enhancements around transaction performance, further ease of onboarding and making things ready for millions of user scale.

[CAPABILITY/ FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability?

Why are we best suited to deliver the project?

Founder-Product fit - Founders/Teams who have extensive experience building mass consumer platforms in traditional Web2 leveraging daily life use-cases, who understand the full lifecyle of acquisition/engagement/retention and who understand Web3 paradigms, technologies and ethos. We are able to bring those insights and learnings towards Web3 mass market adoption.

Founder-Market fit - Founders/Teams who have proven experience in building sustainable business models out of consumer platforms. We are able to apply same first-principles to build Web3 economies which are built to last.

ROVI Network team is a highly talented and experienced team, led by 4 times repeat Founders with 20+ years of experience, having built multiple successful distribution led scalable and sustainable businesses in the past. Previous products built by this team reached 30M+ users organically.

In addition, ROVI platform is a proven high scale, high engagement distribution network running on a L2 chain already, proving our capabilities and feasibility of our solution.

Process to manage funds?

We have clearly defined our deliverables and milestones, attached to a fund tranche. The outcome/output is clearly verifiable, objective in nature. The fund gets released when milestone is verified. We will release a p&l format cost report at the end of every milestone detailing the costs associated with each milestone.

[CAPABILITY/ FEASIBILITY] What are the main goals for the project and how will you validate if your approach is feasible?

Goal/Objective

Integrate Cardano chain on ROVI platforms and infrastructure. Build foundation for increasing # of unique wallets by 20% MoM and # of on-chain transactions by 20% MoM

[CAPABILITY/ FEASIBILITY] Please provide a detailed breakdown of your project’s milestones and each of the main tasks or activities to reach the milestone plus the expected timeline for the delivery.

Milestone 1

• Key Activities/Deliverables

Deployment of smart contracts on Cardano for ROVI token , minting, and transfers

• Timeline

4 weeks

• Output

Running smart contracts in production environment for token creation, minting, transfer etc.

• Outcome

Foundation and infrastructure 1st part complete to be able to integrate token for transaction enablement, wallet creation for users inside ROVI dapps.

• Success Criteria

Verifiable, auditable smart contracts with all necessary functions ready to be integrated into dapps

• Cost

24800 USD

Milestone 2

• Key Activities/Deliverables

Development of necessary bridges and lock-mint/burn-unlock mechanisms to sync/integrate existing token on ERC20

• Timeline

4 weeks

• Output

Running smart contracts in production environment for token creation, minting, transfer for building transactional layer on Cardano

• Outcome

Foundation and infrastructure 2nd part complete to be able to integrate token for transaction enablement, wallet creation for users inside ROVI dapps.

• Success Criteria

Verifiable, auditable smart contracts with all necessary functions ready to be integrated into dapps

• Cost

24800 USD

Milestone 3

• Key Activities/Deliverables

Integration of ROVI token on Cardano inside ROVI social non-custodial wallet. Users are able to get their wallets created on Cardano and able to see tokens inside wallet

• Timeline

4 weeks

• Output

Cardano chain integrated and visible inside Dapp wallets. ROVI token balances visible inside wallet for users

• Outcome

New User wallets start getting created in Cardano chain, resulting in increase in unique # of wallets on chain

• Success Criteria

Verifiable, on-chain wallets visible through explorer/query analytics over ROVI smart contracts

• Cost

46000 USD

Milestone 4

• Key Activities/Deliverables

Integration of ROVI token on Cardano inside ROVI dapps utilties like gaming, payments, shopping etc to enable transactions on-chain. Users are able to utilize their tokens on Cardano inside dapp utilities resulting in on-chain transactions

• Timeline

4 weeks

• Output

Cardano chain integrated and visible inside Dapp utilities. Token transactions enabled

• Outcome

New User chian transactions start getting published in Cardano chain, resulting in increase in # of transactions on chain

• Success Criteria

Verifiable, on-chain transactions visible through explorer/query analytics over ROVI smart contracts

• Cost

54000 USD

Milestone 5

• Key Activities/Deliverables

Staking smart contracts creation and deployment. Enable staking function inside wallet for users on Cardano

• Timeline

2 weeks

• Output

Staking of tokens on Cardano chain available for users inside ROVI wallets for use.

• Outcome

New Users are able to stake their tokens for rewards, resulting in staking transactions on chain and staked token pool locking

• Success Criteria

Verifiable, on-chain staking wallet and staking transactions visible on chain through explorer/query analytics over ROVI smart contracts

• Cost

28000 USD

[CAPABILITY/ FEASIBILITY] Please describe the deliverables, outputs and intended outcomes of each milestone.

All deliverables, outputs and intended outcomes are detailed already in the previous section.

[RESOURCES & VALUE FOR MONEY] Please provide a detailed budget breakdown of the proposed work and resources.

Milestone 1

• Key Activities/Deliverables

Deployment of smart contracts on Cardano for ROVI token , minting, and transfers

• Timeline

4 weeks

• Cost

24800 USD

2 Blockchain Developers x 50 USD an hour x 160 hours = 16000 USD

1 Backend Developer * 30 USD an hour x 160 hours = 4800 USD

1 Project/Product Manager x 50 USD an hour x 40 hours = 2000 USD

Documentation, Communication, Reporting, Testing = 2000 USD

Milestone 2

• Key Activities/Deliverables

Development of necessary bridges and lock-mint/burn-unlock mechanisms to sync/integrate existing token on ERC20

• Timeline

4 weeks

• Cost

24800 USD

2 Blockchain Developers x 50 USD an hour x 160 hours = 16000 USD

1 Backend Developer * 30 USD an hour x 160 hours = 4800 USD

1 Project/Product Manager x 50 USD an hour x 40 hours = 2000 USD

Documentation, Communication, Testing = 2000 USD

Milestone 3

• Key Activities/Deliverables

Integration of ROVI token on Cardano inside ROVI social non-custodial wallet. Users are able to get their wallets created on Cardano and able to see tokens inside wallet with ability to send/receive, store, see transactions and details

• Timeline

4 weeks

• Cost

46000 USD

1 Blockchain Developers x 50 USD an hour x 160 hours = 8000 USD

2 Backend Developer * 50 USD an hour x 160 hours = 16000 USD

2 Frondend Developer x 50 USD an hour x 160 hours = 16000 USD

1 Project/Product Manager x 50 USD an hour x 80 hours = 4000 USD

Documentation, Communication, Testing = 2000 USD

Milestone 4

• Key Activities/Deliverables

Integration of ROVI token on Cardano inside ROVI dapps utilties like gaming, payments, shopping etc to enable transactions on-chain. Users are able to utilize their tokens on Cardano inside dapp utilities resulting in on-chain transactions

• Timeline

4 weeks

• Cost

54000 USD

2 Blockchain Developers x 50 USD an hour x 160 hours = 16000 USD

2 Backend Developer * 50 USD an hour x 160 hours = 16000 USD

2 Frondend Developer x 50 USD an hour x 160 hours = 16000 USD

1 Project/Product Manager x 50 USD an hour x 80 hours = 4000 USD

Documentation, Communication, Testing = 2000 USD

Milestone 5

• Key Activities/Deliverables

Staking smart contracts creation and deployment. Enable staking function inside wallet for users on Cardano

• Timeline

4 weeks

• Cost

28000 USD

1 Blockchain Developers x 50 USD an hour x 160 hours = 8000 USD

1 Backend Developer * 50 USD an hour x 160 hours = 8000 USD

1 Frondend Developer x 50 USD an hour x 160 hours = 8000 USD

1 Project/Product Manager x 50 USD an hour x 40 hours = 2000 USD

Documentation, Communication, Testing = 2000 USD

[RESOURCES & VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

The cost of the project is primaily linked to the development efforts. The primary execution team is based out of India where all the development of chain, contracts, dapps would be executed from. On an average, a high quality developer hourly cost in the field of Web3/Blockchain comes out to be anywhere between 50 USD per hour to 75 USD per hour. Taking blended fully-loaded average cost to be 50 USD per hour across team/skills, a 4 week milestone with 4 team members would average out to be 8 hours per day x 5 days a week x 4 weeks x 50 USD per hour * 4 team members == 32000 USD. This is in line with our cost projections and proposals.

Secondly - the costs are 1-time to create a foundation and infrastructure over which further huge scale can be built and ongoing costs would skew heavily towards more of user acquisition/marketing/community creations/new-countries-GTM, while ongoing development costs for optimizing scale and new features etc would be lesser - as the core platform is already built out.

[IMPORTANT NOTE] The Applicant agreed to Fund10 rules and also that data in the Submission Form and other data provided by the project team during the course of the project will be publicly available.

I Accept