- BaaS Pool LLC (PoktFund)
- BaaS Pool LLC (PoktFund)
- Funding & Reimbursement
- Current Employees:
- Erwin E. - President, decades of executive experience with a silicon valley tech company.
- Dottie T - Advisor, tenured, business leader with decades of experience growing and building out enterprise and startups companies
- Toho - Software Engineer with experience working at leading tech companies including major cloud providers. (MAANG). Their technical experience is split between application development and supporting/establishing infrastructure for large scale distributed systems.
- PoktBlade - Sr. Software Engineer. They have experience with crypto protocols, scaling out to millions, infrastructure design, and application development. Much of this experience was gained from working at leading top tech companies (MAANG)
- Kersley P. - UI/UX Designer and Frontend Engineer
- Asking Amount:
- 2,000,000 POKT
PoktFund speciality will focus on building out an AIO (all in one) native platform that matures the Pokt ecosystem as a whole. We are focused on providing enterprise-level products (wallet and pooling service) for the entire user base to leverage. For the past few months, we have been focused on developing the frontend design, infrastructure design, and backend API’s. These funds, if granted, will be used to reimburse the company and give us a runaway to continue to grow, develop, and provide professional, enterprise level products and provide long term support.
PoktFund is an AIO, cohesive platform optimized and designed for cross platform use (Web, Android, IOS). Our platform offers multiple products (Wallet and Pool) that the entire ecosystem can use on a daily basis, ultimately driving growth outside and within the community. The company consists of passionate, POKT ethuanists that have professional, enterprise-level experience in leading and building out product, and we have strong desires to bring this to the Pokt’s ecosystem.
This product focuses on delivering a native wallet experience, regardless of the origin of usage - PC or mobile (Android/IOS). PoktFund’s Wallet is self custodial and allows individuals and enterprises the ability to manage their POKT balances, send, and receive transactions. The wallet will leverage the Portal or app staked node in order to query the Pokt chain. The wallet will support backing up keys to local devices and native cloud storage solutions. For receiving and sending funds, QR code will be supported to prevent accidental amounts from being sent. For enterprise usage, the product will support multi-sig accounts and sending. Wallet will have native security functionalities integrated such as Face ID, fingerprint, and custom passcode pins. By offering a native wallet experience, this service will attract more users to join the ecosystem, invest, hold, and use POKT.
As of today, there are zero Pokt-related applications in both Google Play and Apple Store. In the best interest and growth of Pokt - we believe that the more quality options the ecosystem has, the better - especially when it comes to which product stakeholders can utilize to hold and use Pokt. By providing an enterprise-ready native application, Poktfund aims to instill confidence in the users who decide to invest, hold, trade, and use Pokt. We want to show to the mass that Pokt is mature enough to begin using and there’s an ecosystem to support it. With wallet.pokt.network, the functionality is simple, yet not really optimized or up to standard for the average person. It is missing basic features that would greatly enhance the user experience such as:
- QR generation,
- Multiple accounts and remember me sessions
- Mnemonic pass phrases
- Lacking i18n & accessibility,
- Not optimized for mobile use
PoktFund’s Wallet will aim to fix all of these, instilling trust and providing a seamless user experience for new and existing users.
PoktFund offers a secure, automated, and transparent approach to fractional pool staking for both mobile and PC devices with an open API. Users are able to register and authenticate using 2FA for an added layer of security. Deposits and withdrawals to the pool are as easy as clicking/tapping a button on our user-friendly modern UI and allowing secure automation to do the verifications with no human intervention needed. This allows for nearly instantaneous staking. Another benefit of this system is that profit yields are continuously automatically added to another node. This means compounding frequency is uncapped and can happen multiple times daily depending on the sessions and relays. PoktFund also offers a sleek dashboard to view things like exactly what node(s) the user’s Pokt is staked in and what the yields are. Putting the user first, PoktFund has optimized infrastructure costs and as a result of the seamless automation, we are able to minimize any management fees and offer a lower barrier to entry.
The master plan of PoktFund’s pool is to open up our API’s for other pooling initiatives/platforms to leverage as well. We want to provide a platform that reduces the amount of duplicate efforts and to redirect those saved man hours into things like node infrastructure optimization and increasing the number of stakers. Other platforms will be able to leverage our open API’s to query, manage assets, deposit, stake, and visit their node’s dashboards using our developed services. Developers & users will have the ability to explore the chain’s network such as keeping track of nodes, relays, etc with the UI and API. Every managed node provider is encouraged to integrate with our platforms allowing users with the option to choose their preference for pooling with this easy to follow approach.
While looking for existing options to pooling, we discovered that the options for pool staking were not only limited but lackluster. These options require an abundance of human intervention which bottleneck the process as a whole and raise security, accuracy, and transparency as concerns. This is when we decided to create an alternative we could be confident in. By offering our seamless approach to staking, there is less friction when it comes to contributing to the network as a node runner. While reducing friction to get up and running is one of our primary goals, we also wanted to offer error proof automation to control the flow of the staking process as opposed to manual human intervention. By raising confidence in staking and making the flow as effortless as possible, we believe this will result in a positive impact on the community.
Wait! That’s a lot of funds to release to one proposal. This is too much.
For context, this project employs some of the industry’s top talent with experience spanning decades. Our president Erwin has director level experience and is part of the leadership team in a multinational tech company. Our engineers are from well established tech giants (MAANG) and are also DAO voters actively involved in the community. The market salary rate for PoktFund’s current team is over $2M. Not including reimbursement for already completed development which spans months or plans for expansion, the asking runway is a minimal ask amount of what it would cost to keep the lights on and promote growth. The ask is very modest in this context and will be absolutely crucial to retaining & onboarding top talent to deliver a phenomenal enterprise-ready product. The Wallet and Pool products will use staked applications via Portal, increasing the number of relays on the network. As Poktfund’s services release and users join as a result of the ecosystem maturity, the activity boost will result in more relays and consequently have a long lasting positive effect
PoktFund is looking to launch core functionalities of Wallet and Pool by Q2 (fiscal quarter) and team members are working full time to meet this imminent goal.
- Cross platform native experience (iOS/Android/Web)
- Sending/receiving with QR code
- Multi account and sig support
- Language localization starting with English, Español, Português.
- Long term support
- Authentication with social providers & 2FA (Discord/Gmail)
- Dashboard with various statistics such as yield and projections
- Automated deposit and withdrawals
- Automated infrastructure provisioning
- Open API’s for other parties to leverage to deposit, stake, and select node providers.
- Infrastructure optimization for reducing cost per node (roughly $40-70/node/month)
- Administration tools for management
- This biweekly digest focuses on keeping the community members up to date with PoktFund’s development.
- FOSS contributions to Pokt developer and node running
- Open API’s to leverage for third parties to leverage our platform
Erwin E, Toho, Kersley P., Dottie T, PoktBlade
All content written in this proposal is owned by BaaS Pool LLC.