The Proposed Token Concept's
Name: Crypto VC Fund
Ticker: VCAP
Chain: Kusama Asset Hub
Liquidity Pair: VCAP/ KSM
Summary Use Case: A crypto venture capital fund concept to enable its holders to factually invest in, manage, and reap stakeholder benefits from fast-growing startup companies through making use of the blockchain functions; 1— DAO, 2— Stablecoins, 3— Dead Wallets, that will advance on an accomplishment of pre-announced milestones basis.
Draft White Paper: https://drive.google.com/file/d/1GsB7_oKBxdqwk6mmaFw0GrKIqHmv_QoA/view?usp=drive_link
Background Story: As a cryptocurrency investor since 2021 and a Polkadot ecosystem investor since 2022, I have recognized the Ponzi scheme characteristics of cryptocurrencies as their ultimate failure. As solution, I have decided to employ my experience in venture capital deals for bridging a crypto token to a profit-making, sustainable business within the framework of the experimental sister Kusama network of the Polkadot ecosystem, that stands out from other networks with its exceptional scalability and interoperability features, as well as its functioning DAO and vibrant community.
During my quests recently, in a Polkassembly discussion https://polkadot.polkassembly.io/post/2581 I feel blessed to have encountered Daniel (@danielo), the founder of the Virto Network with his emphasis on building DAO tools on Kusama network, to shortly team up with him as solution partners. In time, I am looking forward to further participation to ensure adoption of the project by the community.
In consideration of the foregoing, here is the breakdown of the expenses I request from the Treasury:
1— 160 KSM as initial liquidity on Kusama Asset Hub for the Token's VCAP/ KSM liquidity pair,
2— 8.5 KSM as the fee for updating the Token's information on Dexscreener, as detailed on https://marketplace.dexscreener.com/product/token-info,
3— 1.5 KSM to buy domain name for the Token's website,
4— 5 KSM as one-year X Premium+ subscription fee for the Token's X account.
Total Requested Amount: 175 KSM
Crypto VC Fund, or VCAP, is a new idea for a cryptocurrency venture capital fund. It will use blockchain technology to help people invest in growing businesses. The fund will work on the Kusama Asset Hub and will be paired with KSM (Kusama's currency). The main goal is to help people make money from businesses that do well.
The person who came up with this idea has been investing in cryptocurrencies since 2021 and in the Polkadot ecosystem since 2022. They want to use their experience in venture capital to create a successful business using a crypto token. They have teamed up with Daniel, the founder of Virto Network, to work on this project.
The person has asked for some money from the Treasury to help start this project. They need:
In total, they are asking for 175 KSM.
Threshold
A reasonable amount for an interesting experiment. Looking forward to assist in the creation of the DAO to showcase how a token in AssetHub can be managed permissionlessly with smart contracts and the decentralized governance of a DAO from a different parachain.