Application Introduction
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Name of Project: Cregis Technology
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Problem statement in the existing Conflux ecosystem (customer, application, process, etc) and the proposed solution
Development to support Conflux onto Cregis’ Multichain MPC wallet ecosystem and CFX enablement for crypto payment gateway.
- Alignment of the project with the Conflux Network
Cregis’ wallet infrastructure is particularly interesting to Conflux, mainly due to our exposure to the Chinese markets. Much of which are institutional clients such as OTCs, Trust Companies, Investment Brokerage companies, USDT Card Issuers transacting in stablecoins (USDC/USDT).
a. Benefit to the Conflux Ecosystem: How this product will entice more developers to build on Conflux
b. Economic benefit: How this product will increase assets and transactions on-chain
Cregis’ core business lies in our enterprise-grade MPC wallet infrastructure that is suitable for B2B2C operations, designed for scalability. A unique approach that we have taken is to support privatisation deployment and in some instances, offering source codes to enable our clients to fully customize their wallet to suit the unique use case and regulatory requirements.
As an extension to our core service, Cregis has branched out to the payment space with a plug-and-play crypto payment gateway API, USDT USDT-backed debit card.
Currently we are developing our in-wallet bridging, swap and yield generation which can potentially bring additional value to Hedera.
In terms of user count, we are currently serving over 3500 enterprises with over 100 million sub-addresses generated. Much of the clients are from the Chinese community, since 2023 we have gone international and are seeing exponential growth in markets like Dubai and SEA.
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Demonstrate a competitive edge that differentiates it from other projects
As mentioned in the earlier response, the unique approach that we have taken is to support privatisation deployment and in some instances, offering source codes to enable our clients to fully customize their wallet to suit the unique use case and regulatory requirements. -
Links to the projects webpage, DApp, socials and chat groups
Website: www.cregis.com
Socials:
Linkedin: https://www.linkedin.com/company/cregis/posts/?feedView=all
X: https://x.com/0xCregis -
Conflux eSpace grant recipient wallet address
ERC-20 Wallet Address: 0x7b18ea773785003e53e0a0267bd079d17bbdd9a3 -
Are you an incorporated startup?
Yes, under Cregis Technology Limited incorporated in Hong Kong
Technical Introduction
- Refer back to Problem statement:
- Cregis offers a multi-chain MPC wallet for both laptops and mobile devices
- Multi-chain wallet: Assets from multiple chains at a glance without manual switching between all the supported networks
- Multiple wallets in one screen: Users always have an overview of all wallets and do not need to switch between accounts
- Accurate real-time prices on bridges and swaps
- Payment gateway to increase CFX’s utilities and TVL
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Purpose of the system
The purpose is to increase adoption for the chain and token utilities by enabling in wallet swaps, token bridging and acceptance via payment gatewat -
Scope of the system
Cregis is committed to providing Conflux access to its clients and volumes from the Chinese communities and some trad-fi investment firms, stablecoin flows, in the 1 stop shop for bridging, swaps, and yield generation from our in wallet service catalogues.
- Objectives and success criteria of the project
Total Budget
Grant Size: What is the total grant amount begin requested?
USDT 50,000
Justification: Break down the activities and costs associated with requested grant amount
The funds will be allocated as per the following:
- 70% on development
- 30% on mass marketing to promote our collaboration with Conflux
Development Roadmap
Timeline and milestones
Milestone 1: Present beta version of our MPC wallet with Hedera incorporated: Transaction on Conflux, CFX token support.
Milestone 2: Going live with the above-mentioned features (Transaction on Conflux, CFX token support), enabling our client portfolio to gain access to the Conflux on our wallet infrastructure.
Milestone 3: 250-500 unique Conflux Accounts opened within Cregis ecosystem
Milestone 4: Present beta version of our payment gateway that supports CFX as a form of payment
Milestone 5: Going live the CFX enablement on our payment gateway opening up the option to our existing clients who are mainly in the payments and forex brokerage space in EU, UAE and APAC.
Milestone 6: Pilot merchant using CDX and/or Conflux supported stablecoins as a form of payment for their services
Requested funding per milestone
USDT 25,000 upfront
USDT 25,000 once the milestones are completed
Team
The team will consist of both our co-founders who has an engineering background led the development of Cregis core products, Product Director, who has extensive experience working with exchange, OTC, and Payments, and myself, who has been in the web2 and web3 payment industry for over 10 years.
Shawn Yan (Co-Founder & CEO) - https://www.linkedin.com/in/shawn-qz-yan/
Aaron Zhang (Co-Founder & CTO) - https://www.linkedin.com/in/aaron-zhang-541356366/
Keian Wong (Product Director) - https://www.linkedin.com/in/keianwong/
Eric Cheung (Regional Business Development Director) - https://www.linkedin.com/in/eric-cheung0117/
Janice Tang (Marketing Director) - https://www.linkedin.com/in/janice-tang-625713169/
Github - https://github.com/0xcregis
Terms of Use
Cregis confirms that we agree to the terms of use for applying to a Conflux Ecosystem Grant by including the entirety of the following statement and conditions:
I agree to all of the following terms of use in applying to a Conflux Ecosystem Grant
I have read and understood the Conflux Grants Ecosystem Overview
I have read about and understood that the Conflux Technical Grants are subject to a No-Sale rule
I agree to provide KYC information to the Conflux Foundation for the sake of overall ecosystem security
I understand that I will be required to follow public grant reporting requirements