Locale DAO Grant Proposal- A Reserve Currency to back Localized Stablecoins and Fund Small Businesses

Hello All!

I would like to submit a proposal for $40,000 in grant funding for the development, marketing, and liquidity bootstrapping of Locale DAO.

Summary

Locale DAO is building a multi-chain reserve currency, hosted on Fuse, dedicated to backing the creation and management of localized stablecoins and investing in small businesses, using treasury funds.

With this structure, we will essentially act as the commercial and IRL community outreach arm of the Fuse Network. Spurring real-world adoption and creating a hedge against the volatility of the crypto markets through the community banking of historically excluded populations in large metropolitan areas.

For those who don’t understand or are not familiar with the current standard of reserve/rebasing currencies (OlympusDAO), here is an explainer video from the Youtube channel “Finematics” to explain further.

(What is OlympusDAO? Staking, Bonding, and the $OHM Token Explained - YouTube)

Value to the Fuse Community
Not only are we using both the Fuse Studio and white-labelled wallet to facilitate the trade, but we will also be accumulating FUSE into our treasury using our bond service (supporting the price), and acting as a validator for Network. In addition, of course, the increase in activity from real-world institutions, businesses, and communities will increase network activity and liquidity to the FuseDAO products. However, the biggest benefit for us will be bringing affordable DeFi tools to the communities that need them the most.

Traction
Currently we have non-binding letters of intent with Chambers of Commerce in two larger (2M+ Population) American cities.

The smart contracts associated with the protocol are currently being tested and integrated into our UI by our Dev team. We are currently a direct fork of OHM V1. However for V2 we will implement some of the tokenomics and protocol structure of rebasing token analyst BluDex, targeting price stability (link below).

(Rebase Tokens Reimagined. While the bearish sentiment and fear in… | by Bludex | Jan, 2022 | Medium)

** Dev Team**

CTO: haithemaraissia · GitHub
Contributor: 0xww (HeisenBeer) · GitHub
Contributor: Usman0204 (Usman Aslam Malik) · GitHub
Contributor: Waleed-Shafiq · GitHub
Contributor: wasif28 · GitHub
Contributor: bilalbhatti139 (Muhammad Bilal Bhatti) · GitHub

See the full details of the proposal at the link below!

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