GIGx

#1

Project Overview

Title: GIGX
Description of the project: The GIGX project features a utility token, and a DApp (GIGX Pad). GIGx Pad is a blockchain powered crowdfunding DApp. Our goal is to bridge real world projects, and Investors that want to utilize the full potential of Decentralized Finance (DeFi). GIGX is a Multi-utility token powering the GIGX ecosystem.

How will this project be integrated into Conflux?
The GIGX Pad (DApp) is built on the Conflux network.

Why is your team interested in creating this project?
In today’s African financial system, there is a lack of funding for businesses; only the largest businesses in prime networks get direct access to liquid capital markets, as a result short and mid-term borrowing is extraordinarily expensive. We believe we can solve this problem by leveraging the blockchain, and decentralized finance.

Any mockup designs of user facing components.
gigxpad.com

Overview of the technology stack being used:

System Specifications / System Architecture
The System is built on the NodeJS server which is a cross-platform runtime environment for developing server-side and networking applications.

The System is built using the following tools and services:

  •   Nodejs

The System is built on the NodeJS server which is a cross-platform runtime environment for developing server-side and networking applications, Using the expressJS framework.

  •   Nginx

We also run the application on a secured Nginx web server, which is known for its high performance, stability, rich feature set, simple configuration, and low resource consumption, also secured with SSL certificate.

  •   MongoDB
  	MongoDb is a document database with the scalability and flexibility that you want with the querying and indexing that you need.

Product/System Flow:
The product begins with creating a wallet for a user and performing either of the two options of depositing or withdrawing, the deposit process is straightforward where the user deposits through a gateway payment system and gets credited with the equivalent at the current exchange price.
Whilst withdrawal is divided into two parts which is the cash withdrawal or GIGX withdrawal to an external address. While withdrawing to an external address is pretty simple by entering the amount and address the cash withdrawal requires admin approval before it can be processed by the external payout service. Below is a diagrammatic explanation of the Product/System Flow:

How can the project benefit Conflux Network’s ecosystem?
GIGX brings a new way for institutions, and retail investors to access investments across Africa. This will bring in millions of new users to the Conflux network ecosystem overtime, and position Conflux as a leading network across Africa.

Team Members:

Osamede Arhunmwunde: Chief Operating Officer
Komolafe Olusegun: Chief Technology Officer
Gabriel Babajide: Senior Engineer
Gbolahan Onadeko: Blockchain Developer
Harlod Ajagu : Designer lead
Vuakpor Muogereh: Marketing lead
Chukwudi Anyanwuocha: Legal

Registered name:
GIGX Technology Limited

Address: Africa

Github code repositories: https://github.com/gigxpad

Development Roadmap:
2021.Q2
Project Launch
Conflux Grant
GIGM strategic partnership onboarding
Test Wallet Integrations with GIGM for up to 10,000 users
2021.Q3
Private Sale
GIGX Platform development
Wallet Integrations with GIGM for up to 50,000 users
First Phase AirDrop Distribution
2021.Q4
Public Sale/ICO
Ecosystem platform Launch
GIGX Platform wallet integration, and testing
New Partnership Announcement
2022.Q1
Wallet Integrations with GIGM for up to 100,000 users
Launch of first real world investment pool on the GIGX platform
2022.Q2
Expand Opportunity Pool Offerings
Governance Portal Launch

Team’s Long Term Vision:
To be the bridge between DeFi, and real world assets across Africa

Community Engagement:
We will publish an article to be shared with our community outlining our work as part of the grant also a short video about the project.

Delivery requirements:
We will be integrating the GIGx wallet system with Conflux Network in a couple of weeks and start rewarding customers in our testnet.

Social Media:
Instagram:@gigxpad
Facebook: @gigxpad
Twitter: @gigxpad

3 Likes
#2

Thanks for submitting! Quick question to start. Do you envision this as sort of a Polkastarter for real world projects?

#3

Hi, thank you for applying for a Conflux Network grant.

The target market is a good choice, Africa still has a lot of untapped potential for crypto and Conflux Network could serve as the foundation for many exciting projects.

  1. From your description I did not fully understand what your project does. Is it a crowdfunding/launchpad/IDO platform (like Polkastarter as @SmoothCB suggested)? If this is the case, how will you ensure high quality projects and avoid scams? How do you plan to deal with the potential legal issues arising from facilitating ICOs?

  2. You also mentioned fiat/cash deposit and withdraw. Do you plan to implement it yourself or use a 3rd-party provider?

  3. The “Product/System Flow” section is missing a lot of details, you basically only describe the deposit/withdraw process. Please extend this section.

  4. Please describe the milestones that belong to the scope of this grant application, each with a time frame and specific deliverables that we can evaluate objectively.

1 Like
#4

I think this will be a game-changer connecting traditional finance with Web3 finance! Would love to participate in any beta program!

2 Likes
#5

Hello, Thank you for submitting your grant.

With your roadmap can you elaborate more on the different milestones/deliverables.

Africa is an undervalued market and look forward to welcoming you to Conflux soon.

Very Respectfully,
William

2 Likes
#6

Yes, with staking pools that also represent real world business activities.

#9

Thank you @Christian, we share that belief as well and sorry for the delayed response.

Please join our telegram page and our waitlist to be among the first to know when we launch our beta. Links are on our website @ gigxpad_dot_com

#10

Thank you @Tristception, sorry for the delayed response.

Our first goal is to launch the Gigx wallet to allow users to store the tokens.

The second is to integrate with real-world businesses to onboard new users to the wallet while the third is to launch the GIGXPAD platform where the real-world pools will be hosted.

In general, our goal is to bring the beauty of Defi through the staking of GIGX tokens in pools consisting of real-world businesses to provide liquidity for the businesses, and rewards are earned in the form of tokens from the activities of the businesses.

For phase one of this project, we will source for real-world businesses to kickstart.

1 Like