Grant Proposal: FUSD/BRL pair on Lovecrypto APP

Integrations | Deployment Proposals
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Project Name: FUSD/BRL pair on Lovecrypto APP

Grant Amount: 100,000 FUSE so we can start our own validator and $6k FUSD for scholarships

Short Project Description: Lovecrypto App will incorporate the FUSD/BRL pair to make the stablecoin available to the 210 million Brazilians.

Detailed Description of Project:

Lovecrypto App is an app for Android and IOS especially designed for recipients of basic income projects to do the (Cash In Cash Out) CICO to the Brazilian Real. We have 5200 users and have been growing 20% MoM. Right now, we have the cUSD/BRL pair, soon we will incorporate the G$(Good Dollar)/BRL pair, and through this project we plan to incorporate the FUSD/BRL pair and make it available to all Brazilians which use the PIX instant payment system.

To celebrate the launch of the new FUSD/BRL pair, we propose the distribution of 5 scholarships for education in the value of $1200 FUSD each, which will be distributed over the course of 6 months. That way, an individual that is poor can commit full time to a training program, like learning to code or learning data science. The grant/scholarship recipients have to write a “Twitter diary” with their progress with weekly updates and the handles @fuse_network and #FUSE , therefore, increasing the hype around FUSE and its impact in the developing world.

What are the key features and innovations that your project entails?

  1. We use the PIX instant payment system, which is widely adopted in Brazil, works 24/7 and has very low transaction costs. 2) We provide one of the fastest CICO in the market in Brazil and withdrawals are in the users´ account in less than five minutes. 3) The idea to distribute 5 scholarships for education will greatly increase the social impact of the Fuse Ecosystem and will attract users and traders which care about impact.

How does your project foster growth and development for the Fuse ecosystem?

We are bringing a new On/Off ramp to FUSE ecosystem so that the 210 million Brazilians can buy FUSD to join the Fuse ecosystem and protect their value from inflation. Also, our idea to the 5 scholarships will create an organic buzz in the handles @fuse_network and in the hashtag #FUSE on Twitter, and it will attract to FUSE the users who care about social impact.

Team Members & Roles

Our team is made of individuals who are talented, motivated and passionate about Blockchain technology. 3 of us have complete MsC degrees in Computer Science or Business, 3 of us are completing a Bachelor degree in Computer Science. All of us are from Cin/UFPE, one of the best computer science programs in Latin America. We have complementary skills and we have been battle tested as a team in 2+ years working together. We successfully created the Lovecrypto App and it is now the cheapest and fastest way to exchange cUSD to BRL in Brazil.

These are our LinkedIn profiles:

Edmilson Rodrigues (CEO) - LinkedIN: https://www.linkedin.com/in/edmilsonrodrigues/ ;

AIlson da Cruz (CTO) - LinkedIN: https://www.linkedin.com/in/ailson-da-cruz-17b83b92/ ;

Lucas Zacarias (CPO) - LinkedIN: https://www.linkedin.com/in/lucaszsd/ ;

Juliandson Ferreira (Blockchain Expert) - LinkedIn: https://www.linkedin.com/in/juliandson-ferreira-4218b8b4/ ;

Chris Berenger (Marketing Leader) - LinkedIn: https://www.linkedin.com/in/chris-berenguer/ ;

Jose Joffre (Front end developer) - LinkedIn: https://www.linkedin.com/in/josejoffre/

Website - www.lovecrypto.net

Contact Email Address - edrodrigues@lovecrypto.net

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interesting project, i like the idea of adding another fiat on-ramp to fuse network.
Can you give a bit more of a description of the Tasks the that users need to do earn crypto?
What currency do users ear? what is you model for Sustainability? What would you be doing with the rewards from running a validator on Fuse network? Do you have experience with running a validator on any other chains ? would you be running you Validator in the cloud or on personal equipment? Do you have plans on bringing any utility to current fuse investors?

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Hi friend. Thanks for your questions. Answers below:

  1. We pivoted away from the tasks model to be a pure Cash In/Cash Out. I think you inquired about that because we still have to update the Twitter profile for @LovecryptoBr. However, you can learn more about our CICO in this link.

  2. Our model for sustainability is that we charge R$8 (fixed fee) + 1.3% (variable fee) every time a user does a Cash In/Out in our app. We are the cheapest and fastest alternative in Brazil.

  3. Great question about what we would be doing with the reward for running a validator. We would cover the operational costs of running the “Educational Scholarships on FUSD” project. That project can generate a lot of Buzz around the @FUSE_network handle and the #FUSE hashtag.

  4. FUSE would be the first chain we would be running a validator on. But we have the technical capacity to do so and we hve been thinking about starting a Validator division in our startup for a while. We would be running our validator in the cloud, at least for the first 6 months.

  5. Our team is very involved with the blockchain for social and environmental Impact movements in Brazil and around the world. The utility we can bring to FUSE investors is to bring to FUSE and to Good Dollar the investors who are searching for social and environmental impact, and also the people who will bring a lot of usage to Fuse Network and its dApps. Also, we are an innovation company with passion for blockchain technology which can build lots of products on top of FUSE Network.

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Hi @edlovecrypto thanks for the grant proposal.

We have currently finished the initial round of grant funding but shall be opening up the new round in July. Full details will be published soon.

Could you elaborate on your user growth since 2020, specifically on/off ramp users and how many cUSD transactions per day are taking place.

I tried to download the andriod app, but couldn’t. I think it’s only for Brazil locality. Is there any other way to review it?

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Hi RB. Thanks for your questions.

This is the total number of users in the last few months:
chart

This graph shows the number of transactions per month:
Number of Transactions (13)

Can you please send me an email to edrodrigues(at)lovecrypto.net ? We can arrange a meeting and I can do a live demo of our app. Sounds good?

Thanks!

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i was able to download that app, and install and open, but do not speak or read the language (dumb American (kek)) if i remember correctly i followed the link on the website to google play store. :man_playing_handball: :department_store:

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Thanks for the user details.

I’ll send you an email to keep in contact and arrange a call.

Rob