Neemo Finance: UCG application grant

I’m not sure if I can ask about this here, but regarding Neemo Finance, which now plans to join Soneium, I’m unsure about which channels we can use to test it. Thank you very much. =)

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Hi @BoomBLB
We’ll be releasing our testnet on Minato soon. You’ll be able to test it out then!

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Perfect ! Can You please share some ideas about how You want to use ASTR tokens on Soneium ? Will You have the incentive program on Minato testnet as well ? :slight_smile:

This is a great initiative!

It will make ASTR liquid staking more accessible, likely increasing the number of users holding LST. Looking forward to further updates!

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Hi @psneemo ,

look forward to seeing the testnet on Minato! As a simple and kind reminder, the UCG report this month is planned to be submitted by the end of this month, and please share any transactions made so far so that the community also knows how the grants are being used.

And perhaps any share in regard to audit with @lousydropout might be of help.

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Thank you very much. I look forward to good activities from the team. Especially since the Thai community is very interested in the Minato testnet. I will help promote it on my end as well. =)

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Great. Will try it out and give my feedback aswell.

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As @bao shared the visual, this news is definitely the kind of development we want to hear at Astar Network!

Congratulations team.

Acknowledged. Will share the report soon! :slight_smile:

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Congratulations, hope to see more like this on Astar Network in the future.

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Look forward to the report and feedback!

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Neemo Finance Monthly Check-In II

At Neemo Finance, we are pumped to report that we have been on track with our development roadmap and have made pivotal headways in our growth. Here are the key highlights since our previous check-in:

  • Mainnet Launch on Astar EVM: We launched our mainnet on Astar EVM on September 9th. And less than 5 days after launch, we acquired 15M $ASTR TVL! Today, less than a month after our launch, we acquired 17.9M $ASTR TVL.
  • Implement direct staking feature from Astar Parachain: We also announced support for ASTR holders on Parachain (Polkadot’s Parachain for Astar) on 25th September. Now, you can deposit your ASTR from your Parachain Wallet without manually bridging tokens to Astar EVM.
  • Loyalty Badge Distribution: We’ve distributed the Loyalty Badges to eligible users on Astar EVM. And they have already started earning rewards from our Loyalty Program. We still have a couple hundred NFTs remaining, and we plan to distribute them through various campaigns soon.
  • Weekly Loyalty Rewards Distribution: Less than 200 users have received 19.5K+ in nsASTR via our Loyalty Program in just 3 weeks! Each eligible user has received an average 120 ASTR each week. As Neemo Finance moves up the Tiers on Astar Portal, the weekly payouts will be much larger, especially for bigger stakers.

Metrics

We now see daily activity on our mainnet as more users deposit their ASTR with us. Since we launched our Parachain integration recently, we’re confident that we’ll see a rise in the number of Parachain depositors. We’re also confident that overall social activity will pick up after our upcoming Soneium Minato launch.

That said, here’s a summary of our metrics:

  • MAUs: 1K
  • WAUs: 800
  • TVL: 17.869M ASTR

As we move to integrate with partners on Minato testnet and upcoming Soneium mainnet launch, we hope to get a lot more visibility around our platform.

Key Events

Milestone 1: Astar EVM Mainnet Launch

We launched our mainnet on Astar EVM on September 9th. And less than 5 days after launch, we acquired 15M $ASTR TVL! Today, less than a month after our launch, we acquired 17.9M $ASTR TVL.

Milestone 2: Loyalty Badge Distribution

We distributed about 250 NFTs to our whitelist campaign participants. These were distributed in partnership with Walkmon (Team So Noisy), Starlay, Arthswap, Bonsai, and Sonova. These NFTs saw a surge of interest from users in the Astar ecosystem with one of our FCFS selling out in under 60 seconds.

Milestone 3: Audit report by Hacken

Hacken, a leading blockchain security auditor published their security report about us. This report had:

  • 0 critical
  • 0 high
  • 0 medium, and
  • 0 low severity issues.

You can find the entire audit report here.

Milestone 4: Weekly Rewards Distribution

Less than 200 users have received 19.5K+ in nsASTR via our Loyalty Program in just 3 weeks! Each eligible user has received an average 120 ASTR each week. As Neemo Finance moves up the Tiers on Astar Portal, the weekly payouts will be much larger, especially for bigger stakers.

Milestone 5: Direct Staking Feature From Astar Parachain Integration

We announced support for ASTR holders on Parachain (Polkadot’s Parachain for Astar) on 25th September. Now, you can deposit your ASTR from your Parachain Wallet without manually bridging tokens to Astar EVM!

Partnerships

Social Links to Activities

  • Aug 27: Go Mainstream with soneium announcement. Social Post
  • Aug 27: Finding Neemo phase 3 for testnet winners announced. Social Post
  • Aug 28: Released Loyalty Program cheat sheet guide to enhance community understanding. Social Post
  • Aug 30: Announced winners of Neemo Loyalty Program Whitelist campaign with Walkmon. Social Post
  • Aug 30: Announced winners of Neemo Loyalty Program Whitelist campaign with Starlay. Social Post
  • Aug 31: Recording of AMA with polkadot insider got published. Social Post
  • Sept 1: Announced winners of Neemo Loyalty Program Whitelist campaign with Arthswap. Social Post
  • Sept 1: Announced winners of Neemo Loyalty Program Whitelist campaign with Bonsai NFT. Social Post
  • Sept 2: AMA 5th: Neemo Loyalty Badge mint details discussions with Sonova. Social Post
  • Sept 2: Announcement for Loyalty Badge Mint for WL campaign winners live on Sonova. Social Post
  • Sept 3: Announcement for Loyalty Badge Mint for Public round live on Sonova. Social Post
  • Sept 3: FCFS NFT sold out in record-breaking 60 seconds. Social Post
  • Sept 5: Gitbook live for Soneium. Social Post
  • Sept 6: Completed smart contract’s audit with Hacken, receiving a clean report with no issues in our code. Social Post
  • Sept 6: Road-To-Mainnet campaign Launched. Social Post
  • Sept 9: Neemo Finance Mainnet goes live on Astar Network’s EVM. Social Post
  • Sept 10: Introduced $WASTR deposit functionality for liquid staking rewards. Social Post
  • Sept 13: Announcement for Neemo Finance co-hosting ‘Go Mainstream Soneium Ecosystem Night’ at Token 2049 along with sakefinance, kyofinance, Metadomo, phi_xyz, 0xC_Web3, sonex_so, SynFuturesDefi, SynStation, YOAKEofficialEN, waveX_fi and Yay! Global. Social Post
  • Sept 16: Published tutorial video with Polkadot Insider on Neemo’s $ASTR staking process. Social Post
  • Sept 19: Our Founder Seiya Chida attended ‘Go Mainstream Soneium Ecosystem Night’ in-person, representing Neemo Finance in Token 2049 Singapore. Social Post
  • Sept 23: Successfully sent first batch of Loyalty Rewards in nsASTR. Social Post
  • Sept 25: Launched Astar Native campaign. Social Post
  • Sept 30: Successfully sent Second batch of Loyalty Rewards in nsASTR. Social Post

Focus for upcoming Months

Our focus is on two key objectives for the upcoming month:

  1. Launch on Soneium Minato and Integrations: Our primary focus is to ship Minato within the week of writing this. We also plan to integrate and work with the leading protocols building on Soneium to increase our overall reach within the Soneium and the Astar ecosystem. We are already planning to integrate with Avalon Finance, Sake Finance, Sonova and have initiated conversations with SuperVol, VeryLongSwap, and more. The details of the integrations with these partners will be shared on our socials.
  2. Plan for Soneium Mainnet: Our second focus is to plan out our Sonieum mainnet launch, secure mainnet depositors, and integrate with the major Soneium builders. We anticipate this task to be stretched throughout the remainder of this year.

Inviting the Astar Community to benefit from staking with Neemo!

If you hold ASTR, you can easily deposit them on our app (app.neemo.finance) and earn boosted rewards (for both the sub-periods and rewards from our Loyalty Program). You can stake from Astar EVM network and/or the Astar Parachain network! We look forward to the community checking out our app and giving us feedback. Please join our Discord and/or reach out to @priyanshsna on Telegram for any queries!

Closing Thoughts

Our engineering team has been continuously shipping products and integrations. In the past three weeks alone, we have shipped out the Parachain integration and have distributed rewards weekly. This is a testament to our commitment to building a highly resilient and feature-rich yet highly secure product for users on Astar and Soneium. As we plan to unravel the Soneium testnet soon, we’ll also integrate DeFi partners and introduce utility for our underlying nsASTR token.

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Thx for this detailed report ! Will wait and test Neemo on Minato as well :grin:

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Great report. I too have used the application.
I look forward to the launch in Sonemium.

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Thanks for all the details!

One minor comment in regard to the expenses if there is any tx executed and paid from the grants? Even the most of the great contents are already covered with the community from this report, still such expenses should also be shared in the report to have further transparency and trust. Even there is an audit performed, which could have cost quite a lot, though not sure if it was applied before or after the UCG program and the expenses were paid from the grants. And there are the weekly reward payouts… so please feel free to share any txs executed so far with the grants :slight_smile: look forward to hearing!

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We claim the dApp staking owner rewards weekly and allocate them as follows: 50% goes to the treasury, and 50% is distributed as rewards. Specifically, 50% of the dApp staking owner rewards are distributed to our loyalty NFT holders in the form of nsASTR. You can verify these transactions from the following link: https://astar.subscan.io/tx/0x6922b0e5a3cda7c16b519527fc2ae6d3897e0dfe3eb9b3660416cead486f1afd

Aside from that, we haven’t utilized any funds from the dApp staking owner rewards. We have covered our audit costs independently, which range between $30k to $50k for each protocol development. If we develop other LSTs, DEX, or any protocols or features, the cost would be around $30k to $50k again.

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@SeiyaChida
I am very happy for the great dApp you have built, you are growing step by step and in a very professional way, I applaud you for that.

I remember at the beginning of the proposal you said you would not disappoint us, and you did, congratulations on the results!

I will soon be a Neemo staker, I would love to know if there is a way to purchase the loyalty NFT.