Backbone Labs is a leader in the web3 space, dedicated to promoting the potential of decentralized technologies by fostering multi-chain collaboration and interoperability. Our mission is to establish a truly decentralized financial ecosystem, driven by community members who contribute to the creation of secure, transparent, and accessible financial products and services. We have already launched innovative DeFi solutions, such as Gravedigger, across multiple ecosystems, showcasing our commitment to this vision.
The purpose of this grant proposal is to secure 5 million WHALE tokens in funding from the Migaloo team to develop and launch four key projects on the Migaloo chain:
- NFT Marketplace
- NFT Launchpad
- NFT Switch
Out of the 5 million WHALE tokens, 4 million will be vested linearly over 1 year. The remaining 1 million liquid tokens will be allocated for team salaries and other expenses, with specific percentages detailed in the budget section.
As part of our commitment to the Migaloo ecosystem, we propose the following grant objectives to create a comprehensive and thriving environment for NFT creators, collectors, and investors:
1) Gravedigger: Build a community around the Gravedigger platform, offering a premier staking solution for bWHALE token holders that harnesses the power of auto-compounding.
2) NFT Marketplace: Create a user-friendly marketplace for buying, selling, and trading NFTs while fostering an active and engaged community of creators and collectors.
3) NFT Launchpad: Establish a platform that supports the launch and promotion of new NFT projects, offering resources and exposure to innovative creators and their unique NFT collections.
4) NFT Switch: Develop a peer-to-peer NFT transfer project that enables users to securely and efficiently exchange NFTs. (No Collection Royalties)
Our first initiative together is to launch an exclusive NFT collection on the Migaloo blockchain, managing the Gravedigger and establishing the first NFT marketplace. This groundbreaking project fuses DeFi products with NFT communities to provide sustainable solutions and unlock unprecedented opportunities for creators, collectors, and investors. Our aim is to seamlessly integrate this initiative into the dynamic and ever-evolving Migaloo Zone ecosystem.
Through these initiatives, we aim to enhance the Migaloo ecosystem, promote the adoption of WHALE tokens, and create a thriving environment for NFT creators, collectors, and investors.
Our project plan entails:
- We have assembled a dedicated team of developers, project managers, business leads, and community managers.
- Conducting market research and identifying the needs and preferences of NFT creators, collectors, and investors.
- Designing and developing the Gravedigger, NFT Marketplace, NFT Launchpad, and NFT Switch for the Migaloo chain.
- Implementing marketing and communications strategies to promote each project and build a strong community around the platforms.
- Establishing partnerships with other DeFi projects to expand the range of investment opportunities and enhance the value proposition.
We will gauge the success of our projects, including Gravedigger, NFT Marketplace, Gravedigger, NFT Launchpad, and NFT Switch, by monitoring the following key performance indicators (KPIs):
- Number of bWHALE tokens staked on the Gravedigger platform.
- Growth in user base and community engagement across all platforms, including NFT Marketplace, NFT Launchpad, and NFT Switch.
- Total value locked (TVL) on Gravedigger.
- Number of successful NFT transfers on the NFT Switch platform and the volume of transactions.
- Number of active users, listed NFTs, and trading volume on the NFT Marketplace.
- Number of NFT projects launched and promoted on the NFT Launchpad platform, along with their success rate.
- Number of partnerships and integrations with other DeFi projects in the Migaloo ecosystem.
- User feedback and satisfaction with each platform and its features.
To ensure the long-term success and sustainability of our projects, including Gravedigger, NFT Marketplace, Gravedigger, NFT Launchpad, and NFT Switch, we intend to:
- Continually update and enhance each platform based on user feedback and evolving DeFi and NFT trends to maintain their relevance and effectiveness.
- Expand the range of investment opportunities available to bWHALE token holders by collaborating with other DeFi projects and integrating new features and services across all platforms.
- Cultivate a robust and engaged community that actively participates in the development, governance, and promotion of each project, fostering a sense of ownership and commitment.
- Generate revenue through platform fees, premium services, and other sources to sustain ongoing operations and development, while ensuring that the platforms remain accessible and competitive.
- Establish strategic partnerships and collaborations within the broader DeFi and NFT ecosystems to leverage synergies and create new opportunities for growth and expansion.
- Maintain a strong focus on security, transparency, and compliance, ensuring that our platforms adhere to industry best practices and regulatory requirements, thereby building trust and credibility among users.
- Invest in marketing and outreach initiatives to raise awareness, attract new users, and expand the user base for each platform, contributing to the overall sustainability of the projects.
We request a grant of 5 million WHALE tokens, with 4 million tokens vested and the remaining 1 million liquid tokens allocated for team salaries and other expenses:
Salaries (60%): Allocate funds to support our team of developers, project managers, business leads, and community managers. This will ensure that we have the necessary expertise and resources to successfully develop and implement the Gravedigger, NFT Marketplace, NFT Launchpad, and NFT Switch projects. In our budget allocation, we have taken into account the competitive hourly rate of $30 or lower for our team members.
Marketing & Communications (20%): Invest in marketing, support, and business development efforts to raise awareness, attract new users, and expand the user base for each platform. This includes advertising, content creation, community management, and partnership outreach initiatives.
Infrastructure & Subscriptions (10%): Cover costs for server hosting, CI/CD SaaS subscriptions, cloud services, and other essential infrastructure components required for the development, maintenance, and scaling of our platforms.
Integration & Partnerships (5%): Allocate funds for the integration with Migaloo validators and other DeFi projects, as well as for establishing partnerships with key players in the ecosystem to expand the range of investment opportunities and enhance the value proposition of our platforms.
Contingency & Miscellaneous (5%): Set aside funds for unforeseen expenses and additional requirements that may arise during the development and implementation of our projects. This ensures that we have the flexibility to adapt and respond to evolving needs and market conditions.
By distributing the budget as outlined above, we aim to optimize the use of the grant to achieve our project objectives and ensure the success and sustainability of the Gravedigger, NFT Marketplace, NFT Launchpad, and NFT Switch platforms within the Migaloo ecosystem.
As we embark on this exciting journey to develop and deliver the Gravedigger, NFT Marketplace, NFT Launchpad, and NFT Switch projects for the Migaloo ecosystem, we are confident in our ability to create exceptional value for the community. We believe that these platforms will not only enhance the user experience for creators, collectors, and investors but also contribute to the broader adoption of WHALE tokens and the growth of the Migaloo network.
It is an honor to build and collaborate with the Migaloo team and the community as we work towards achieving our objectives. With a shared vision and a strong commitment to innovation, we are poised to create a thriving environment for the DeFi and NFT sectors, further establishing the Migaloo chain as a leading player in the industry. Together, we can unlock the true potential of decentralized technologies and shape the future of digital finance and art.
RIDE THE 🐳
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