[Proposal do HoM, rejected] NEAR Global Launches BRN and USDN with CBDC in DeFi

NEAR Digital Collective HoM direct requests
1

NEAR Global - Application for NDC Funding

Section 1 - DAO/Project Information

  • Organization Name: NEAR Global LTDA
  • Proposal Title: Integration and Innovation in DeFi: Launching BRN and USDN Stablecoins with PIX and CBDC Connectivity
  • When was your project established? February 4, 2023
  • Project’s Category: DeFi

Section 2. Previous Funding

  • Have you received funding for this project from any source? Yes, NEAR Foundation Grant
  • Any source of funding. This may include NEAR Foundation Grants, and existing GDAOs, among others

Section 3. DAO URLs

  • Website of the DAO/Project: nearglobal.io (under construction)

  • Social Media Channels:
    Twitter: @GlobalNear (under construction)

  • Is Your Project Targeting a Specific Country? Yes, specifically Brazil for the launch of BRN. However, USDN is designed to serve a more global market.

  • Which region will your DAO/ Project support? South America (Portuguese) for the BRN, with an initial focus on Brazil due to integration with the PIX system and the Brazilian CBDC. USDN will serve internationally, expanding the project’s reach beyond regional boundaries.

Section 4. Applicant Information

Section 5. Team Members

Section 6. Experience

What related qualifications, experience, or track record does your team bring to this initiative?

  • Adonis Ferreira - CEO & Founder

    • Background: Adonis brings over seven years of experience in cryptocurrency and blockchain technology, focusing on integrating these technologies with traditional financial systems. As the founder of Near Global, he has led significant projects, including the successful deployment of stablecoins on various blockchain platforms.

  • Cheesecake Labs - Development Partner

    • Background: One of Latin America’s top software development firms, Cheesecake Labs specializes in blockchain and smart contract development. Their expertise has been pivotal in developing the secure and compliant infrastructure for our BRN and USDN stablecoins.

  • Live Links to Examples of Relevant Work

BRN Demonstration on NEAR Testnet: Experience our stablecoin BRN in action on the NEAR testnet by visiting the following links:

  • BRN Transaction Demo - A live demonstration of BRN transactions showing stability and integration capabilities.
  • BRN Integration Test - See how BRN integrates with various dApps on the NEAR platform, demonstrating utility and interoperability.

Section 7. DAO/Project Charter/White or Litepaper and Goals

NEAR Global - Light Pitch Deck
BRN - Whitepaper
NEAR Global - Testnet Results
NEAR Global - Product - Part 1

Project Overview: Presentation with a Short High-Level 6 Bullet Points Summary

  1. Mission: NEAR Global aims to enhance digital transactions globally through the development and integration of stablecoins BRN and USDN.
  2. Vision: We envision a financial ecosystem where digital transactions are secure, efficient, and inclusive, supported by our stablecoins integrated with global financial systems and technologies, including the Brazilian CBDC.
  3. Core Programs: Our core programs include the development of stablecoins, integration with payment systems like PIX, and building bridges for blockchain interoperability.
  4. Alignment with NDC’s Vision and Values: Our project promotes innovation, security, and transparency in line with NDC’s values, prioritizing ecosystem success, embracing openness, valuing pragmatism, simplifying complexity, and fostering constant growth to enhance the financial ecosystem efficiently.
  5. Team: Comprised of experts in blockchain technology, finance, and compliance, our team is dedicated to pushing the boundaries of what’s possible in blockchain finance.
  6. Requested Budget for the Next Three Months: $75,000 to cover the development and integration of stablecoins, support for the PIX system integration, and initial steps towards bridging with the Brazilian CBDC.

What Problem Are You Aiming to Solve?

We aim to solve the problem of high fees and inefficiencies in cross-border transactions and provide a stable, reliable digital currency option that aligns with regulatory frameworks, enhancing financial inclusion and operational efficiency. Additionally, we have identified a lack of stable asset options on NEAR, which we will address with our two stablecoins, BRN and USDN. We will also explore further innovations, such as real-world asset (RWA) tokenization, to expand the utility and adoption of stable assets within the ecosystem.

DAO/Project Charter

NEAR Global’s project charter outlines our commitment to creating stable and interoperable financial solutions that support both economic growth and technological innovation, emphasizing compliance and user-centric design.

How can your DAO / Project achieve NDC priorities, goals, and KPIs?

Our project enhances the NEAR ecosystem by introducing stablecoins BRN and USDN, which are designed to provide a stable, reliable digital currency option that aligns with regulatory frameworks and enhances financial inclusion and operational efficiency. By addressing the high fees and inefficiencies of cross-border transactions, our stablecoins aim to attract new users and retain them by offering practical financial tools that facilitate everyday transactions and interactions within the NEAR platform.

These stablecoins not only contribute to widening the adoption of NEAR by making it more accessible and practical for a broader audience but also support the development of public goods by integrating with necessary compliance and security frameworks. This ensures that our project indirectly supports NDC’s operational priorities by providing a reliable and compliant medium of exchange that can streamline processes and treasury management across the ecosystem.

Through these contributions, our project fosters a more integrated and efficient financial ecosystem on NEAR, encouraging the use of multiple dApps, reducing the acquisition cost for new accounts, and enhancing the social engagement within the community.

Roadmap of your DAO/project, Milestones, and Achievements

Milestone 1: Launch of BRN and USDN on NEAR Mainnet (First 30 Days)

  • Objective: Establish necessary infrastructure on NEAR mainnet and begin development of smart contracts for BRN and USDN.
  • Tasks: Set up development environment on NEAR mainnet, start coding and initial deployment of smart contracts for stablecoins.
  • Deliverables: Configured development environment, initial smart contracts deployed and operational.
  • Budget: $25,000

Milestone 2: Integration with PIX and NEAR <> Brazilian CBDC Bridge (Day 31 to Day 60)

  • Objective: Complete smart contract development, begin deep integration with PIX payment system, and prepare infrastructure for interoperability with the Brazilian CBDC, including a Proof of Concept (PoC).
  • Tasks: Finalize smart contract coding, initiate detailed functionality and security tests, develop and test PIX integration, prepare and test the bridge for CBDC operations.
  • Deliverables: Completed smart contracts for BRN and USDN, initial testing reports, operational PIX integration, initial prototype and PoC of the bridge for Brazilian CBDC interaction.
  • Budget: $50,000

Additional Project Milestones:

  • Introduce $8M USD in reserves across BRN and USDN.
  • Achieve 3,000 active traders on DEXs within the NEAR ecosystem.
  • Establish 10,000 wallets containing BRN and USDN.

Section 8. Budget

Projected Budget for the Next Three Months (In USD for Each Task/Milestone)

Funding Request: For the next three months, NEAR Global requests a total of $75,000 to achieve the outlined milestones and support the successful integration of BRN and USDN with PIX and the Brazilian CBDC

1. Milestone 1: Launch of BRN and USDN on NEAR Mainnet

  • Tasks:
    • Set up development environment: $5,000
    • Coding and deployment of smart contracts: $20,000
  • Total Budget: $25,000

2. Milestone 2: Integration with PIX and NEAR <> Brazilian CBDC Bridge

  • Tasks:
    • Smart contract completion and testing: $20,000
    • PIX system integration and testing: $15,000
    • Development and testing of the bridge for CBDC: $15,000
  • Total Budget: $50,000

Links to Similar Proposals from Near Foundation, Existing GDAOs, Near ECO

Currently, there are no directly comparable proposals publicly available.

Length of Commitment to Delivering Your Project

The initial commitment to delivering the project is three months. During this period, our team will work full-time on the project to ensure all milestones are met within the specified timeline.

Will Your Team Be Working on This Project Full-Time?

Yes, our team will be dedicated full-time to this project. This ensures focused effort and timely completion of all project milestones.

Will Your Team Be Fully Remunerated from This Budget?

Yes, the budget includes full remuneration for all team members involved. This ensures that the team is motivated and financially supported to achieve the best results.

Section 9. Project/DAO longevity

Does Your Project/DAO Require One-Time or Continuous Funding?

One-time funding. This will establish the necessary infrastructure and integrations, such as with PIX and the Brazilian CBDC, setting a solid foundation for our operations.

Will Your DAO/Project Devise a Way of Sustaining Itself After This Round of Funding?

Yes, the project is designed to become self-sustaining. We are currently in advanced negotiations for our seed funding round, which we anticipate will provide the financial stability needed to maintain and scale our operations independently.

What Are the Possible Roadblocks to the Success of Your Project/DAO?

Currently, a potential roadblock is the impasse with the NEAR Foundation concerning the use of the NEAR trademark in the future. While we currently have authorization to use the brand, any changes in this status could prompt us to undergo a straightforward rebranding process, which we are fully prepared to handle without significant disruption. It’s important to note that such changes would not impact our commitment to the community and the ecosystem. All resources from this grant will be used exclusively for activities involving the NEAR Protocol, ensuring alignment with our project goals and community contributions.

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