LFS in cardano(loan free student in cardano)

[GENERAL] Name and surname of main applicant

BETEL SHIBESHI

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Individual

[GENERAL] Co-proposers and additional applicants

no

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

5

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

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

LFS in Cardano enables students to save monthly in ADA, building funds for loan repayment and supporting their dreams, like pursuing an MSc abroad.

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

Yes

[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.”

The LFS project is moderately to highly dependent on Cardano's infrastructure, including wallet creation, smart contracts, and DeFi protocols to provide interest on savings. Beyond that, it has minimal external dependencies on other organizations like universities or financial institutions.

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

Yes

[GENERAL] Please provide here more information on the open source status of your project outputs

This platform is open source because to make it accessible for customer to update it when it is necessary.

[METADATA] Horizons

Education

[SOLUTION] Please describe your proposed solution

How did you perceive the problem you are solving?

As a university student, I've encountered firsthand the challenges that come with educational services often being tied to loans. Each time I considered advancing my studies, the burden of potential debt weighed heavily on my mind. This constant back-and-forth struggle made me realize the need for a solution that would allow students like me to pursue their educational careers without the constraints of financial obligations. When friends introduced me to the Cardano community, it sparked an idea: the potential for this platform to help students overcome these hurdles and secure the support they need. I felt inspired to create a system that could benefit others who share similar experiences.

What are your reasons for approaching it the way that it is?

As a university student, I recognize that the challenges I face are shared by millions of students worldwide. I want to address this widespread issue and provide a solution that supports our collective aspirations. The approach I've developed for LFS in Cardano is designed to empower students, allowing them to focus on their education and passions without the weight of financial burdens.

Who will your project engage?

LFS in Cardano primarily engages students in higher education, including university and college students. By targeting this demographic, we can directly address the financial challenges they face in pursuing their academic and career goals.

How will you demonstrate or prove your impact?

I plan to demonstrate the solution's impact through measurable outcomes, such as the number of students who successfully navigate their education without the burden of loans, and the positive feedback from participants in the program. I believe this platform will provide an invaluable resource, especially for those navigating the digital landscape, allowing them to focus on their studies and dreams without financial constraints.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

The LFS in Cardano project is set to have a profound positive impact on students, enabling them to focus on their education and aspirations rather than being weighed down by financial burdens. By providing a supportive platform that alleviates the stress of student loans, this initiative empowers individuals to concentrate on their studies and personal growth, allowing them to pursue their dreams without the constant worry of their circumstances dictating their future. This broader concept not only addresses the immediate needs of students but also lays the groundwork for a generation that can thrive without the shackles of debt. As students benefit from this platform, we will likely see an increase in the Cardano community's user base, as more individuals join to take advantage of the services offered. This growing participation will foster an engaged community, where members actively contribute and collaborate, creating a dynamic environment that enhances the overall Cardano ecosystem. Ultimately, LFS in Cardano aims to be a beacon of hope for those struggling with financial challenges, guiding them toward a brighter and more fulfilling future.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

I believe I am uniquely suited to deliver the LFS in Cardano project because I am one of the first individuals to navigate this challenging journey of higher education and financial burdens. Having personally experienced the pressures that come with student loans and the obstacles they create in pursuing academic and career aspirations, I understand the struggles that many students face. This firsthand experience equips me with a deep empathy and insight into their needs, making it easier for me to design a platform that truly addresses their challenges. My passion for helping others, combined with my commitment to leveraging the Cardano community's resources, positions me to drive this project forward effectively. I am motivated to create a solution that not only benefits myself but also empowers countless students like me to achieve their dreams without the constraints of financial worry. This shared understanding of the journey gives me a solid foundation to lead this initiative and ensure it meets the needs of our community.

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

Research and Development

Platform Design and Testing

Launch and Community Engagement

Evaluation and Expansion

[RESOURCES] Who is in the project team and what are their roles?

Betel Shibeshi: LFS in Cardano Project

As the sole creator of the LFS in Cardano project, I am dedicated to developing a platform that helps students navigate the financial challenges of higher education. Driven by my personal experiences, I handle all aspects of the project, from research to platform design.

While I manage the work independently, I recognize the value of professional support and am open to seeking guidance when needed to enhance the project’s effectiveness. Through the LFS in Cardano project, I aim to empower students to pursue their educational dreams without the burden of financial constraints.

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

LFS Project Budget Breakdown

-Platform Development

This includes building the platform with wallet integration, smart contracts, and DeFi functionalities.

Estimated Cost: 12,000 ADA

-Market and Outreach

For advertising, promoting the platform, and onboarding students through social media and events.

Estimated Cost: 8,000 ADA

-Operational Costs

Ongoing expenses such as platform maintenance, server hosting, and customer support.

Estimated Cost: 6,000 ADA

-Professional Support

Legal, financial, or blockchain consultancy to ensure compliance, smart contract auditing, and technical advice.

Estimated Cost: 4,000 ADA

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

The 30,000 ADA investment in the LFS in Cardano project offers substantial value for the Cardano ecosystem. It empowers students by removing financial barriers to education, promoting financial inclusion, and increasing user engagement within the community. This project fosters a sustainable model that allows students to focus on their studies, creating a generation of educated individuals who can contribute back to the ecosystem. Additionally, supporting innovative financial solutions can enhance Cardano’s reputation and potential for future growth and collaboration. Overall, this investment strengthens the Cardano community while addressing critical needs.