ORIGINAL PROPOSAL:
RESUBMISSION UPDATES:
I was selected to the #APE_U Fellowship program and have learned a great deal from community feedback and 1-on-1 mentoring with Spencer. Through the program, I was able to identify the challenges I faced and learned how to correct my mistakes, which I applied to improve my project. I reduced unnecessary expenses in the budget, shifted the focus toward marketing and technology, and shortened the implementation timeline to increase the chances of entering a profitable model.
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TEAM DESCRIPTION:
PROPOSAL DESCRIPTION:
ApeLance is set to transform the freelance landscape by offering a secure, transparent, and efficient platform powered by ApeChain. By ensuring instant payments, confidentiality, and a robust verification system, ApeLance provides a reliable and innovative solution for freelancers and clients worldwide.
Problem: All platforms use third-party payment systems. Traditional freelance platforms charge high fees (up to 40%) and delay payments, which can be a big problem for freelancers.
If these payment systems are not available in a particular country, freelancers can face difficulties, including the risk of not receiving their payments. Even when these systems do work, they often charge very high fees. In Asian regions, many freelancers do gig work on the side, and their earnings are typically low. For example, if I complete a $50 job and have to pay a $10 fee, it feels unfair to me.
The Solution: ApeLance
Payments in ApeCoin are instant and transparent, significantly reducing the risk of non-payment or delayed payment. Smart contracts hold funds in escrow and release them upon the completion of predefined milestones, ensuring that both parties fulfill their obligations.Payment delays can disrupt the cash flow for freelancers.
Bidding System
Sometimes, employers may not know how to manage their projects or who to hire. In such cases, they can simply post their project on Apelance. People who have the skills and knowledge to complete the job can then submit their own bids, including the price and the time needed to finish the work. This is a unique feature not found on any other freelance platform. Additionally, by setting a budget, clients can quickly find the right person for the job from a wide range of options.
Most lowes fee platform of this industry! and more…
0.5% marketplace fee will be charged if paying and receiving payments using ApeCoin. 1% fee will be charged if payment is made in other coins.
New User Acquisition: By targeting freelancers and clients globally, ApeLance will attract new users to the ApeCoin ecosystem, including those who have not previously engaged with crypto. ApeLance will encourage active participation from the ApeCoin community, including developers, designers, marketers, and other freelancers, fostering a vibrant and collaborative environment. The platform will help businesses find skilled freelancers quickly and efficiently, driving economic activity within the ApeCoin ecosystem.
NFT Verification: The NFT verification feature will incentivize NFT holders to use and hold ApeCoin, increasing engagement within the ApeCoin ecosystem.
Long-Term Viability: The decentralized and transparent nature of ApeLance ensures its sustainability without reliance on a central authority, aligning with the principles of decentralization and self-sovereignty central to the ApeCoin community.
The 0.1% of the market we are targeting amounts to $500 million, representing the total sales between employers and employees. We will generate revenue by taking a commission from these transactions.
Challenges in Asia
The reason for focusing on Asian countries is that they are often ranked low in the freelance market because of payment issues. As I mentioned earlier, the payment systems either don’t work, or banks don’t support them. The few systems that do work charge high fees. Even though we all live on the same planet, the opportunities are different. Just think about it—there isn’t even a single McDonald’s or Starbucks in our country. That’s why I want to solve at least one problem that Asians face.
Our goal is to create a blockchain-based P2P freelance platform to capture 0.1% of this rapidly growing market. Unpredictable events such as the COVID-19 pandemic and subsequent isolation have demonstrated that people’s lives are not fixed. The next generation dreams of working on diverse projects from anywhere in the world rather than settling in one place.
BENEFIT TO APECOIN ECOSYSTEM:
We plan to spend 20% of commissions rewarding our most active users and 10% to support initiatives of ApeCoin DAO. Our goal for the next five years is to attract 0.1% of the market, which is estimated $2.5 million. The 20% of commissions allocated for rewarding our most active users will be distributed based on a point system. Points will be awarded for activities such as completing projects, receiving high ratings, and contributing to community discussions. These points can be redeemed for ApeCoin or used to access premium features. The 10% allocated to support ApeCoin DAO initiatives will be used to fund projects and events that align with the DAO’s goals, such as educational programs, community meetups, and development grants. Detailed criteria and application processes for these funds will be developed in collaboration with the DAO.
Additionally, users will receive a Job NFT Badge, and job ads and information for NFT-certified users within the Yuga Labs ecosystem will appear at the top of listings. Similarly, Mocaverse NFTs will also rank high.
Regarding the use of ApeCoin trademarks, we do not expect to maintain full ownership rights to the content or IP created as a result of the approval of our proposal. We anticipate that any content produced will be owned by the ApeCoin DAO, aligning with the principles of decentralization and community ownership.
STEPS TO IMPLEMENT:
- Technical Development:
- Start Date: Q4, 2024
- End Date: Q4, 2025
- Key Activities:
- Develop smart contracts for the payment system on ApeChain.
- Integrate the payment system with ApeChain’s existing infrastructure.
- Conduct thorough testing and security audits.
- User Interface Design:
- Start Date: Q4, 2024
- End Date: Q4, 2024
- Key Activities:
- Design a user-friendly interface for the payment system.
- Ensure compatibility with different devices and browsers.
- Conduct user testing and iterate on design based on feedback.
- Deployment and Launch:
- Start Date: Q4, 2024
- End Date: Q1, 2025
- Key Activities:
- Deploy the payment system on ApeChain.
- Conduct final testing and security checks.
- Launch the payment system to the public.
- Monitoring and Maintenance:
- Start Date: Q1, 2025
- Ongoing
- Key Activities:
- Monitor the performance and security of the payment system.
- Address any issues or bugs that arise.
- Provide ongoing support and maintenance.
REPORTING EXPECTATIONS:
Reports will be made available on the project’s official website and shared through the ApeLance X account.Reports will be published quarterly, with a summary of progress, milestones achieved, and any issues encountered. Duration: Ongoing, with reports expected for the duration of the project and maintenance phase.
Frequency of Reports:
Monthly Updates: Detailed progress reports will be shared on the last Friday of each month.
Content of Reports:
Monthly Updates: Progress on key milestones, challenges faced, and achievements.
Quarterly Reviews: Detailed review of progress, financials, and key performance indicators (KPIs).
Bi-Annual Roadmap Updates: Updated roadmap outlining future plans and milestones.
OVERALL COST:
Total amount requested from the ApeCoin Ecosystem Fund = $147,000
Two tranches of funding have been requested: Upon approval, the initial phase would require $67,000 to cover platform development and launch expenses. The second tranche, at the start of Milestone 3, would require $80,000 for marketing, monitoring, maintenance, and other miscellaneous costs.
Technical Development:
- Smart Contract Development: $3,000
Developing the smart contracts that will power the decentralized freelance marketplace, ensuring security and functionality. - Integration with ApeChain: $4,000
Integrating the platform with the ApeChain blockchain, including wallet integration and transaction processing. - Security Audits: $20,000
Conducting comprehensive security audits to identify and fix vulnerabilities in the smart contracts and platform. - Blockchain Node Setup and Maintenance: $10,000
Setting up and maintaining the necessary blockchain nodes to support the platform’s operations.
User Interface Design:
- UX/UI Design: $5,000
Designing the user interface for the platform, focusing on user experience and ease of use. - Front-End Development: $10,000
Developing the front-end of the platform, including responsive design for different devices. - Testing and Iteration: $5,000
Conducting user testing and iterating on the design based on feedback to ensure a seamless user experience.
Deployment and Launch:
- Deployment Costs: $10,000
Deploying the platform on the ApeChain mainnet, including final testing and optimization. - Launch Marketing: $50,000
Marketing activities to promote the platform launch, including social media campaigns, influencer partnerships, and press releases.
Monitoring and Maintenance (1 year):
- Ongoing Maintenance: $10,000
Continuous monitoring and maintenance of the platform to ensure stability, performance, and security. This includes server costs, bug fixes, and updates.
Miscellaneous Expenses:
- Contingency Fund: $20,000
Allocated for unforeseen expenses and to cover any additional costs that may arise during the project.
Kapow! I think I’m getting the hang of this voting thing
appreciated