Neemo Finance: UCG application grant

[pithecus]

Hi @SeiyaChida ,

I appreciate Neemo Finance’s innovative contribution, such as the dual staking modes.
I have some questions and observations based on your previous experiences and developments.

1. It appears that this proposal might be more appropriate for the dApp staking V3 rather than the UCG program. From my understanding, the UCG program is to attract new builders on Astar Network. You and your team (based on the Discord role from the three projects) already have demonstrated substantial expertise, contribution, and experiences with the three dApps – Starlay, Kagla, and Muuu Finances – on Astar EVM since 2022, indicating strong familiarity with the Astar Network ecosystem, though you are now with new concepts and new members in the team. FYI, C14 recently got listed on dApp staking, where the team has developed AstridDAO and BlueZ (see C14 - dApp Staking Application), which is very similar to what your team is planning to do in terms of listing.

2. Could you elaborate on your marketing strategies to attract users both within and outside the Astar Network ecosystem? What is your target DAU for Neemo Finance?

@SeiyaChida

We aim to become the number one LST for ASTR by the end of the year. Our provisional goal is to capture 8% of ASTR’s market cap. This target is based on the benchmark set by Lido on Ethereum, which holds $28.5B in TVL out of Ethereum’s $369B market cap, representing 8%. We are fully committed to achieving this numerical target through the above strategies, making nsASTR the leading LST for ASTR by the end of the year.

3. Thanks for sharing some detailed target numbers here. It would be great if you can elaborate more on the strategy how you achieve these numbers and make nsASTR leading LST for ASTR by the end of this year. The ASTR’s market cap is at the time of writing is approx. $450m; therefore, the target, which is 8% of it, is then $36m. You mentioned exploring new initiatives, but if you haven’t already started, then it is rather unclear how significant progress can be achieved by the end of the year.

@SeiyaChida

We also plan to actively pursue mass adoption and use case expansion from not only web3 but also web2. For example, initiatives like Ether.fi’s Visa card are something we want to explore. Additionally, having institutional investors deposit their ASTR is another way to create utility for nsASTR

4. How do you plan to manage liquidity in general? Historical data might provide some insights.

   • StarLay: 1.12m (Ref: https://defillama.com/protocol/starlay-finance#information)
   • Kagla: 676k (Ref: https://defillama.com/protocol/kagla-finance#information)
   • Muuu Finance: 69k (Ref: https://defillama.com/protocol/muuu-finance#information)

5. At this moment, you have three dApps and social media platforms, (Starlay) forum, and governance (snapshot). On top of it, you are building the community for Neemo Finance. Already you probably know, it for sure takes time and resources to maintain all the social media platforms tidy, organized and engaged. What is the strategy for the social media platform? Do you prioritize Neemo Finance for its growth or anything else in your mind? Or they are all separated?

Look forward to your insights on the points above. I believe they will help assess the alignment of this proposal with the UCG program. Please feel free to let me know if anything should be further clarified.

Bests,
pithecus