MyShare

Conflux Ecosystem Grants

Grant Proposal Outline

1.Project Overview

Project title and description of the project.

We want to create an App called “MyShare”. We hope to provide a more convenient AA payment function among relatives, friends, and colleagues, and take this as an opportunity to establish small-scale Groupon habits and interpersonal groups.

Through convenient Groupon participation experience and convenient bill splitting, users’ AA payment behaviors are recorded on the Blockchain. These records cannot be tampered with and are the reliable behavior records of each user. In addition, users are allowed to settle their multiple debts by purchasing Conflux cryptocurrency or use their creditor’s rights to participate in other activities.

The App facilitates users’ daily small loans and repayments and records customers’ consumption behavior on the Blockchain, thus becoming a reliable credit record. Moreover, by providing cryptocurrency, credit in the App will be combined with cryptocurrency to increase the recognition of Conflux cryptocurrency. Finally, it can produce a sticky effect on App and Conflux.

How will this project be integrated into Conflux?

All AA payment transactions and bill breakdowns in the MyShare App will be recorded on the Conflux Blockchain in terms of individual customers.

Users can settle their debts by purchasing Conflux cryptocurrency, and creditors can also convert these cryptocurrencies into cash after receiving them or participate in other activities within the App.

Why is your team interested in creating this project?

Our team members are from the payment business technical team of the bank, and our daily work focuses on payment-related requirements. However, since the bank payment is only limited to the payment within the bank and their merchants or bound to other Apps, we hope to create a universal payment platform without the restrictions of financial institutions with the advantage of Conflux.

Although it is convenient for customers to convert their money into CFX, as merchants, there is no convenient acquire device such as POS for CFX. Therefore, we hope to focus on the scenario of Groupon, allowing Groupon leaders to complete payment offline, thus convert offline cash transactions into online virtual transactions between users.

2. Project Details:

High-level technical Approach, product flow architecture (along with a diagram).

a. Customers access the MyShare application server through a mobile App. Customer information, Groupon information, and Conflux wallet information are stored in the MyShare database.

b. MyShare application server is responsible for the following functions:

– User information management.

– Groupon event management.

– Synchronize user credit info with Conflux.

– Synchronize Groupon transactions with Conflux.

– Initiates a user-to-user transfer.

Any mockup designs of user facing components.

Figure 3: Step 1. Create one groupon event

Figure 4: Step 2. Add attractive pictures of this event

Figure 5: Step 3. Initiate the groupon and split the bill with OCR assistance.

Figure 6: Step 4. Bill confirmation and transaction history record.

Overview of the technology stack being used, including API specifications, and documentation of core components.

– Technology stack: inoic, springboot, mysql, URORA, Aliyun

– API specification:

∗ user-register


∗ user-login

∗ user-get

∗ friend-request

∗ friend-confirm

∗ friend-search

∗ Groupon-create

∗ Groupon-participant-management

∗ Groupon-flow

∗ bill-split

∗ bill-attachment

∗ bill-ocr

∗ bill-flow

Ecosystem fit: How can the project benefit Conflux Network’s ecosystem?

  • Conflux blockchain and virtual currencies can be combined with real-life scenarios.

  • MyShare can promote the use of MonSwap, Mondex trading market.

  • MyShare can combine Groupon with NFT, try digital assent new trading model.

  • MyShare can be combined with AVE and other lending apps, and the arrears generated by MyShare can be transferred to the lending app to manage, or user credit info can fee into AVE for creditability checking.

3.Team:

Name of team members, and their roles and responsibilities.

Name: Vincent Zhao,
Role: Team leader,
Responsibilities: Product design, Feasibility study, API development.

Name: Kevin Cen,
Role: Chief Technology Architect,
Responsibilities: System design, Database design, Front end development, API development.

Team members/emails/social media handles/github.

Name: Vincent Zhao,
Email: yb97480@umac.mo,
Social media: www.vincentzhao.site

Name: Kevin Cen,
Email: kevin-sum@hotmail.com,
Social media: https://www.linkedin.com/in/kevin-sum-121a2463

Provide the name and registered address of the legal entity that will be delivering the project.

Zhao Xiongfei, GuangZhou Tianhe Tianhe Road 104.

Team’s relevant experience.

VincentZhao is a Ph.D. candidate in Computer Science at the University of Macau, and Kevin Cen holds a master’s degree in Computer Science at the University of Macau.

We both working in Bank’s IT department, engaged in the development of bank payment system for many years. In addition to the development and maintenance of our own bank’s payment system, we also responsible for interfacing the bank’s account system to other payment APPs for quick payment.

In addition to being familiar with the current mainstream payment system, we are also very familiar with the merchant acquiring system, and we have specially developed an APP for merchant acquire and bill checking.

Team’s github code repositories.
N/A

4. Development Roadmap:

This section will Appear in the grants contract, and will be used to verify that milestones have been reached in order to release grant payments. Please include the following:

Breakdown of the development roadmap into a number of milestones, with each milestone including:
Specification of the software or deliverable (will be used to confirm milestones have been reached).
Requested funding, milestone duration, and number of full time employees on each milestone.
Number of days, and cost per day.

Table 1: Users management


Table 2: Friends management

Table 3: Groupon management

Table 4: Bill management

Table 5: Home page funcions

Total estimated duration and cost of the whole project.

Total estimated duration: 41.5 working days, Cost of the whole project: 49,800 USD

5. Long Term Vision:

What is the team’s long term vision for the project?

  • Calculate interest on small amounts owed by customers.
  • Provide additional interest for creditors to borrow money against arrears.
  • Provide MyShare SDK to other Apps that share similar trading structures.
  • Provide user credit info and spending behavior to Conflux and share with other parties.

6. Community Engagement:

We ask that you publish an article or tutorial to be shared with your community outlining your work as part of the grant.

Besides articles or tutorials, we also plan to prepare video advertising to introduce MyShare and Conflux.

7. Delivery Requirements:

Please provide a test suite (e.g. integration tests if Applicable), along with guides on how to run, as well as dockerfiles or Github repositories for the delivery of your project.

MyShare App will be provided through the Apple store and Google market.

8. Other:

Please include any further information that is relevant to your Application.

N/A

3 Likes

Thank you for applying for a Conflux Network grant.

For your OCR split bill example: Would the user pay in fiat (RMB/USD) first, then send a split bill request to their friends through your platform, and then the friends would pay their share in crypto (CFX) or stablecoins (cUSDT)? So from the mechants’s perspective there’s no difference, it’s just a system similar to WeChat’s Split Bill or Splitwise but for crypto.

You write that “Conflux wallet information are stored in the MyShare database”. Such a custodial solution goes agains the spirit of dapps, ideally users should be able to manage their own identities and have their wallets stored on their devices.

You should probably be looking at integrating Conflux Portal which would also give you access to existing Conflux users and also makes your service compatible in the DApp sections of wallets like Moonswap.

I agree with Peter’s point on decentralization. Therefore my question is: Are both the private keys and public keys stored on the MyShare data base? If yes, have you ever thought about implementing a non-custodial solution since gas fees on Conflux can be sponsored?

The idea of MyShare is very cool and you guys have put in a lot of for in terms of architecture and design, my only concern and question is: What is your projection on the number of users using MyShare for the next few years and what will their concrete use-case be?

Hello thank you for submitting your grant.

No real huge things i see that have not been mentioned –

But for:
“MyShare can promote the use of MonSwap, Mondex trading market.”
-I’m assuming that your talking about MoonSwap and MoonDex – MoonDex has been discontinued will this affect your application at all in terms of outreach synergy?

Are there plans to have an English version as well (other languages / regions if this gets widely adopted in the future)? I cant translate the text in the pictures easily so im not 100% sure what im looking at in some examples.

Very Respectfully,
William

Yes, just like you said, Groupon leaders pay merchants in fiat currency(RMB/USD) first, then send a split bill request to their friends. Friends would pay their share in crypto(CFX only, because we try to repackage CFX as a credit coin instead of crypto so that we could adopt this app in areas like Macau or Mainland China).

Crypto is obvious a better option, but as mentioned above, if we want to make a breakthrough in areas that have concern on crypto, is quite a risky move, that’s the reason why we want to store customer’s wallet information for them in first thinking.

But your suggestion is quite variable for us, we are thinking store the customer’s wallet in customer’s app, instead of in MyShare’s DB, or for areas that have tolerant for crypto regulation, we could allow the user to connect their existing CFX wallet to MyShare App.

Great suggestion, existing Conflux users are quite valuable customer asset to start with, they have better acceptance of CFX already. For those users, it indeed better to connect CFX wallet with MyShare directly. We will also prioritize to adopt these customers in the implementation process.

To be honest, we are very familiar with traditional online payment, however, we lack a very deep understanding of Conflux. We are attracted by the high transaction processing capacity of Conflux, which is comparable to traditional online payment. We will try to have a deeper understanding of the mechanism of GAS sponsorship according to your suggestions, to see if we can make better use of the resources provided by Conflux.

Our projection on the number of users using MyShare will grow from 3-4 colleagues in different company offices first. Then groups of 10-20 people in different communities. With the abundance of Groupon activities and the rise of cross-regional and cross-interpersonal Groupon, we hope it will eventually be able to support a scale of 50,000-200,000 users in total within 2-3 years.

However, this depends very much on the ease of use of the APP, which is why those of us who have been working on traditional APP development are still exploring the capabilities and possibilities of adopting Conflux in this proposal.

Yes, MoonDex has been discontinued, but we believe Conflux community is a very active community with a very rich related ecology. It is believed that there will be better Dapps to replace MoonDex in the near future. So we’re not worried about our synergy expectations being affected by this.

Yes, there will be English version as well, after see comments from you guys, we are thinking to ask user to select region first, if they are not in areas which have concern of crypto, we may allow them to connect their wallet to MyShare directly.

Hi Vincent,

The Grants Committee has reviewed your application and requires the following updates before your grant can be approved:

  1. Funding Tier: Can you please adjust your requested budget to fall in line with Tier 1 funding. Your requested funding amount puts your proposal in Tier2 which requires a working prototype of MVP (ref: Grant Proposal Review Process & Project Eligibility)
  2. Milestone Addition: Please include CRC-20 support in your milestones to enable payments to be made in stablecoins.

Once your Tier 1 milestones are completed and you do have a working MVP, MyShares will be eligible for Tier2 funding.

Let us know if you have questions, and look forward to your response and helping you build MyShares on Conflux!

-GOC

We have updated the development roadmap and the requested budget has fallen in line with Tier 1 funding.

In our development roadmap, we choose cUSDT as stablecoins to do the payment.

Please let us know if you have further questions, thank you very much!

Recording tamper-proof transactions is very, very important to MyShare, and because of the strong local regulation of cryptocurrency, we want MyShare users to be able to download and play without having to deposit cryptocurrencies.

Plan A: Inject a certain amount of virtual currency, such as 1 CFX as $10,0000, the system will automatically create a Conflux Account for users and save the private key and to user’s natvie app, and the address of the Account cannot be disclosed to the customer himself. This scheme can make full use of the blockchain to record CFX transactions. And could pave the way for the introduction of smart contracts in future transactions. However, the customer cannot settle the difference unless paying cUSDT through a smart contract in the future, so that they can not disturb the system calculation.

Plan B: Directly require customers to purchase cUSDT before using MyShare for group purchase, and use this cUSDT for groupon transactions.

We would like Conflux to help us evaluate two solutions, and provide us with some suggestions.

  1. Provide some suggestions for our choice of two schemes.

  2. Is it possible to create a wallet through an interface? Or is there an API to interface to an existing Conflux wallet?

  3. Suggestions on system security would be appreciated.

You can create wallet address using the conflux sdk, if you want to go the noncustodal route, you can integrate conflux portal.

Thank you very much for your suggestions, we intend to consider the custodial route.

1 Like

We plan to automatically set up a Conlfux account for each user in MyShare. Users can use this account to participate in Groupon event without CFX. The related Groupon transactions will be recorded in the blockchain (1 drip corresponds to 1$ of local currency). Since it takes a lot of gas fees to complete a transfer transaction in Conflux (For our scenarios, a transaction often requires hundreds or thousands of drip as gas fees). To reduce operating costs, may we apply for gas fee sponsorship from Conflux?

Congratulations @vincentzhao MyShare’

s grant application has been approved by the Conflux Committee.

For reference, below are the voting results:

1 Like

Great! We will start system design and development accordingly. Thank you very much, Conflux Grants Committee!

2 Likes