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Stremix Grant Proposal
Proposal Title: TECHNICAL GRANT APPLICATION – STREMIX – TIER 1 ($5K)
Idea in one sentence.
Stremix provides a continuous settlement/payment solution for organizations, hirers, freelancers, and remote workers.
Organizations and employers use Stremix to create treasury accounts that will be streamed to their benefactors, employees, or freelancers based on certain conditions or contract agreements. Organizations can now stream funds to their benefactors without having to worry about continuous paperwork, employers can now stream payment to freelancers based on agreed-upon conditions, and freelancers are assured of payment once work is completed or milestones are met.
What we’re trying to fix (Purpose)
The presence of trust and a positive relationship between a hirer and an employee/freelancer is an important aspect of achieving organizational goals. In today’s society, employers hire skilled workers to help them achieve their goals or meet a specific need in exchange for monetary compensation. This is something that has happened in either the remote workspace or freelancing space where there is a recurring theme of complaints about late or nonpayment by clients. Getting paid for work done boosts morale and increases employee productivity. The current system is structured in such a way that amplifies distrust, where freelancers face the problem of late or no settlement after work is completed, while employers face the problem of having their work delayed after payment.
Organizations and non-governmental organizations (NGOs) that are in charge of sending a specific amount of money to benefactors frequently deal with a lot of paperwork and continuous payment processing. This becomes a problem because a significant amount of time is spent processing these payments, which may leave room for marginal error and delay.
Scope of the Solution
Stremix utilizes the decentralization and security of the blockchain to provide financial payment solutions to organizations, hirers, freelancers, and remote workers.
Organizations that require payment solutions for continuous settlement will use Stremix as a reliable platform for streaming payment based on agreed conditions.
Objectives and success criteria
The main high-level objectives and expected outcomes of the proposed project are;
Security for vested funds and treasury accounts.
Trust and Reliability.
Speed- payment to recipients at an astonishing pace.
Project manager/Smart contract developer: Osazee oghagbon
Smart Contract Developer: Ayobami Pamilerin
Pamilerin is a software developer with 2+ years of experience who concentrates on building exceptional web experiences for clients and users. He is passionate about building the future of the internet. His passion has benefitted him over the years to have extensive experience in various spectrums of tech; including architecting, designing, and developing projects such as Smart Contracts, dApps, mobile apps, Web services, SaaS, and Websites.
Software Engineer: Eric Vondee
Eric is a self-motivated software engineer, with 2+ years of development experience, also a communicator and broker of domain knowledge, he loves to collaborate and find challenging opportunities. Highly experienced in backend development with node.js, MongoDB, and typescript for developing software solutions for business use cases from conceptualization to deployment.
Solidity Developer: David Uzochukwu
David is an Energetic and curiosity-driven Smart Contract developer with a background in frontend development Possessing 2+ years of experience writing smart contracts in Solidity that are optimized for gas consumption and security. Maintaining proficiency in NFTs, Defi Protocols, community engagement, and having strong attention to detail for accurately identifying all problems and bugs quickly and effectively. Prioritize communication to collaborate with other developers and leads.
TOTAL BUDGET AND FUNDING TIER
The total budget and funding tier can be accessed here
Currently the customer analysis, product requirement and problem statement has been researched to a large extent but stremix does not have a functional product.
Stremix is a decentralized software solution that offers continuous payment services which utilize the
blockchain as a decentralized ledger with a consensus mechanism for security. Other mechanisms are subgraphs for managing the data off-chain and also Oracles for managing data models and improving performance.
Stremix will interface with the user via a Webapp application bearing the nature of a SaaS which is optimized for quality user experience.
The system will utilize the decentralization and cryptography of the blockchain to secure funds/token vault and payment.
The system will use the conflux chain to run transactions and next.js for server-side and client-side rendering
The system will be deployed on the conflux chain which offers high throughput, low fees, interoperability, security, and scalability.
NON- FUNCTIONAL REQUIREMENTS
There will be two types of users on the Stremix platform:
Employers - These users will use the Stremix platform as a treasury for funds/tokens to make payments to employees, contractors, and freelancers based on certain terms of the agreement.
Employees/Contractors/Freelancers - these users will use the Stremix platform to receive funds/tokens from employers after fulfilling the terms of the contract or agreement.
Stremix will offer security for the funds/tokens on its platform for all users by several layers of authentication and verification both on the front end and smart contract. To prevent the user’s funds from being stolen.
The scenarios model for the system is displayed below;
Interface with the web application to onboard and register and create a treasury account.
Approve or input the employee/contractor/freelancer address which will be the recipient of the funds/tokens.
Create a task or agreement for the employee/contractor/freelancer which will be reviewed by both parties and if these conditions are agreed upon and met then the streaming will commence when both parties sign a message initiated by a multisig
The Employee/Contractor/Freelancer (Recipient):
The recipient will also register on the web application and create an account which will be authenticated using his wallet and address
The recipient will check out his task and review the terms. If they are agreed upon, then he/she will sign the approval.
The recipient will then receive streams of funds/tokens to their address after each milestone or timeline which depends on the terms.