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Funding Reququest : Project keep.

1. Executive Summary

"Project keep." is a Solana-first NFT platform that facilitates the creation, minting, and lifecycle management of encrypted data NFTs. The platform will offer users exclusive control over their data through innovative decommissioning capabilities, allowing for the secure and efficient management of sensitive information. This proposal requests the necessary funding to cover the development and operational costs, including compensation for key management roles necessary to ensure the project’s success.

2. Project Objectives

  • Develop a User-Friendly Platform: To simplify the creation and management of NFTs for creators at all technical levels.
  • Enhance NFT Data Security: To utilize Solana’s blockchain capabilities for secure encryption and storage.
  • Implement Controlled Data Access: To ensure data can only be accessed when the NFT is decommissioned, thus securing data exclusivity.

3. Technical Framework Overview

  • Blockchain Platform: Chosen for its high throughput, low cost, and fast transaction finality, Solana is ideal for deploying NFTs with complex interactions.
  • Smart Contracts: Utilizing Rust for secure and robust contract development with key features including Minting, Decommissioning, and Transfer Hooks.
  • Encryption/Decryption: Asymmetric cryptography will be employed to protect user data effectively.
  • Data Storage:
    • On-chain: Minimal essential data (e.g., references, hashes) to ensure integrity.
    • Off-chain: Decentralized solutions like Arweave or IPFS for larger data sets, linked to NFTs for consistency and verification.

4. User Interface Development

  • Components: User-friendly interfaces for data uploading, NFT minting, viewing, and decommissioning.
  • Interactivity: Features for encrypted data preview, transaction management, and data retrieval after decommissioning.

5. Monetization Strategy

  • Fees to Mint: 0.01 SOL per NFT, to cover transaction and operational costs.
  • Fees on Trades: 2.5% of transaction value, capturing value from the platform’s active trading ecosystem.
  • Fees to Decommission: 0.005 SOL per action, balancing incentive for data retrieval with the cost implications.

6. Phases of Development and Budget Requirements

Phase 1: Proof of Concept

  • Objective: Develop and test basic smart contracts.
  • Deliverables: Encryption and initial contract functionalities.
  • Timeline: 2 months
  • Budget:
    • Smart Contract Developer: $20,000
    • Cryptography Consultant: $5,000

Phase 2: MVP Development

  • Objective: Complete smart contract suite and UI for testnet.
  • Deliverables: Fully functional smart contracts and basic user interface.
  • Timeline: 4 months
  • Budget:
    • Development Team (3 developers): $120,000
    • UI/UX Designer: $30,000
    • Quality Assurance: $20,000

Phase 3: Platform Launch

  • Objective: Deploy on mainnet and initiate user acquisition and marketing.
  • Deliverables: Operational platform, marketing campaign execution.
  • Timeline: 3 months
  • Budget:
    • Marketing Specialist: $25,000
    • Community Manager: $15,000
    • Operational Costs: $10,000

Phase 4: Expansion and Scaling

  • Objective: Enhance platform features and optimize performance.
  • Deliverables: Advanced feature integration, continuous optimization.
  • Timeline: Ongoing
  • Budget:
    • Additional Developers: $50,000
    • Partnership Manager: $30,000

7. Project Management Compensation

  • Project Manager Compensation:
    • Role: To oversee project development, manage the team, and ensure project milestones are met efficiently.
    • Compensation: $100,000 (across all phases)

8. Risk Assessment

  • Security Risks: Advanced encryption and regular audits to mitigate risks.
  • Regulatory Risks: Continuous adaptation to evolving blockchain regulations.
  • Adoption Risks: Emphasis on robust marketing and community engagement to enhance platform adoption.

9. Total Funding Request

  • Total Project Budget: $435,000 (Including project management compensation)

10. Conclusion

“Project Keep” will enhance the utility and security of NFTs on the Solana blockchain by providing a robust platform for managing encrypted data. The inclusion of a dedicated project manager will ensure that the project not only meets its developmental milestones but also maintains alignment with its long-term strategic goals.