Xcavate W3F Grant Application Phase 2

applications/Xcavate2.md

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+# Xcavate
+
+> We are building a real estate centric lending and asset tokenisation protocol.
+
+- **Team Name:** Xcavate
+- **Payment Address:** 12xRWmWLoKScdaA7WGUAYFydB3rzoBG6poaXVZ44Co198Aiw
+- **Total Costs:** $30000 USDT (Polkadot - Statemint)
+- **Level:** 2
+
+## Project Overview
+
+Due to a combination of increased population and changing housing needs, there is global housing crisis. According to the UN, the global population is set to reach over 11.2 billion by the year 2100, therefore 2 billion new homes are required in the next 80 years. 20% of all housing is built by small to medium sized real estate developers but access to finance through traditional banks and other financial institutions is complex, time consuming and expensive.
+
+Our goal is to create a community-controlled protocol, which empowers global communities to fund and invest in real estate developments that span across; residential, commercial and community non-for-profit projects. By empowering and supporting innovative real estate developers helps to create affordable housing options, as well as provide a store of value for those wanting a more stable asset.
+
+### Overview
+
+Xcavate will be a first-of-its-kind real-world lending and asset tokenisation protocol that collateralises parcels of land to finance real estate development.
+
+The protocol is designed to easily facilitate the digitisation of real-world assets like land and properties through the minting and bundling of NFTs, which can be linked to verifiable digital identities (DIDs).
+
+By building a more transparent system, which is trust-less by design, removes the need for third-party intermediaries thereby helping to deliver much more value direct to the builders and investors.
+
+### Project Details
+
+The MVP consists of a react.js frontend dApp which is hosted on the Crust Network. This frontend is connected to the substrate network via a node.js backend. The following diagram maps out the full tech stack.
+
+![](https://xcavate.io/XcavateNetwork.jpg)
+
+
+The following infographic indicates the flow of data at each stage of the lending and asset tokenisation process.
+
+![](https://xcavate.io/XcavatePlatformProcessflow.jpg)
+
+Token:
+XCAV - Xcavate Protocol's Native Token. XCAV tokens are used to stake (both community loan pallet and reward the collator set). We will create these tokens with the Transfer, Mint, Burn, Approve, and Allowance functions.
+Community Loan Pool:
+40% of all tokens minted will be locked for use by the community loan pool (managed by governance), which is used to manage real estate development projects, staked tokens will be queued and utilized for each loan application. XCAV tokens are swapped with a stable coin relative to the geographic location of the real estate development. A percentage of the fees generated from NFT sales and loans (decided by governance) will be delivered back in the loan pool to increase the number of loans available over time.
+Treasury:
+A treasury will receive a percentage of the fees so ongoing events, marketing and technical improvements can be made to the protocol.  
+
+### Technology Stack
+
+* React.js
+* Node.js
+* Express.js
+* Rust
+* Substrate Framework
+* XCM
+* Polkadot
+
+### Third-Party
+
+* Kilt
+* Accurast
+* Crust
+
+### Ecosystem Fit
+
+We have been actively speaking with several Parachains like Interlay to see how we could bring Bitcoin liquidity to finance real estate development loans. We have also spoken to Bitgreen about donating a percentage of the fees generated to help offset the carbon footprint of the chain and the real estate developments. We also in talks with Polkadot native wallets; Nova Wallet, Subwallet & Pluto Wallet so integration of DIDs, NFTs and assets can be stored on each dramatically improving the UX/UI. Additionally, we have had discussions with the Unique Network about refractionalisation of NFTs to create additional markets to lower the barrier to entry and increase user adoption.
+
+We feel this is a great way to bring new users and Real-World Assets like, Land & Property into the general ecosystem. We also recognise the need for specific potential partnerships with both new and established players in the Polkadot space:
+
+**Kilt Protocol**
+Create new verifiable credentials for real world assets like land and property.
+**Deloitte**
+Creating verifiable credentials, which will be held in a wallet and used throughout the process for KYC/KYB/AML
+**Interlay**
+Bitcoin which is held in vaults could be minted as iBTC and used to finance real estae developments.
+**Subwallet / Nova Wallet / Pluto Wallet**
+Integrate DID's and Real Estae NFTs in to the their wallet to improve the UI/UX
+
+## Team :busts_in_silhouette:
+
+### Team members
+
+* Richard Houldsworth – CTO
+* Alex Ward – COO
+* Yury Yukhananov - Substrate Engineer
+* Ganish Oli - Substrate Developer
+* Rene Hürter - Substrate Developer
+* Alan Ma - Full Stack Developer
+* Victor Chukwonoso - Product Designer
+
+### Contact
+
+- **Contact Name:** Richard Houldsworth
+- **Contact Email:** [email protected]
+- **Website:** xcavate.io
+
+### Legal Structure
+
+* H & W Investments Limited
+* 17 College Road, Cheshunt EN8 9LS, United Kingdom
+
+### Team's experience
+
+Richard Houldsworth – 11 years in web 2.0 dev space – serial Entrepreneur & Alumni of the Polkadot Blockchain Academy Founders Track (Berkeley UC).
+Alex Ward – 25 years in the global property market – serial Entrepreneur
+Yury Yukhananov - Alumni of the Polkadot Blockchain Academy (Buenos Aires).
+Ganish Oli - ink! smart contract developer and substrate blockchain developer.
+Rene Hürter - ink! smart contract developer and substrate blockchain developer.
+Alan Ma - Full-Stack developer who likes to work with JavaScript/Typescript (React, Next.js, Redux, Vue.js, Node), Blockchain (Bitcoin, Ethereum, Cosmos, Solidity, Rust), Golang, Python among others. Since I graduated from the university, I’ve joined several companies and dev teams to build web/mobile and web3 apps.
+
+### Team Code Repos
+
+https://github.com/xcavateblockchain
+https://github.com/xcavate2022
+https://github.com/Retamogordo
+https://github.com/ganesh1233456
+https://github.com/RecrafterH
+https://github.com/meanking
+https://github.com/RecrafterH
+
+### Team LinkedIn Profiles
+
+https://www.linkedin.com/in/richard-houldsworth/ 
+https://www.linkedin.com/in/alex-ward-2350a036/
+https://www.linkedin.com/in/yury-yukhananov-b20b5781/
+https://www.linkedin.com/in/ganesh-oli-9285a4163/
+https://www.linkedin.com/in/ren%C3%A9-h%C3%BCrter-36084b249
+https://www.linkedin.com/in/chukwunonso-v-2b2193131/
+
+## Development Status :open_book:
+
+We have been heavily involved in learning all things associated with the Polkadot & Kusama Ecosystem. This has been coupled with the idea of bringing illiquid assets like land and property from its current state into the web3 ecosystem. We have met top-level industry leads, government officials, real estate developers and retail investors to deliver a protocol that will provide a real benefit to broad range of users.
+Robin Ejsmond-Frey, Nico Morgan, Clif, Joshua Cheong from Parity have been a tremendous help by supporting us with information about the W3F grant application process and recommendations to attend Hackathons, Polkadot Decoded & Sub0 Events. As well as as number of forums to help our substrate development knowledge.
+
+We have been taking time to play with Substrate to form initial local nodes. We have developed the initial POC for this project and are developing using the Rococco test environment. We have additional engaged with the Tanssi network to test their appchain launching network.
+
+
+## Development Roadmap :nut_and_bolt:
+
+### Overview
+
+- **Total Estimated Duration:** 2 months
+- **Full-Time Equivalent (FTE):**  6
+- **Total Costs:** $30000 USDT
+
+### Milestone 2 — MVP of lending & asset tokenisation protocol
+
+- **Estimated Duration:** 2 months
+- **FTE:**  6
+- **Costs:** $30000 USDT
+
+We will build on the excellent work we have achieved developing the initial milestone.
+
+In the second milestone, we will bring all of the functionality together so the process of taking out a real estate development loan, loan staking and loan repayment through the sale of property NFTs can be all initiated and managed through a react.js based frontend to the Xcavate substrate protocol.
+
+| Number | Deliverables | Specification
+|:-------|:---------------------------|:------------------------ |
+| 0a. | License |  Apache 2.0 |
+| 0b. | Documentation |  The documentation will be provided to show the whole architecture of the Xcavate Network. |
+| 0c. | Testing and Testing Guide     |  The testing guide will be provided to test each component. |
+| 0d. | Docker / VS Code Instructions | Used to aid testing of all of the components. |
+| 0e. | Tutorial | We will write a tutorial about how to use Xcavate Network. |
+| 0f. | Article | We will write an article published on media channels. |
+| 1. | Xcavate Substrate Node |  We will create a customized chain node with Substrate 2.0 Framework. |
+| 2. | Xcavate dApp Frontend  |  User interface to connect wallet and interact with dApp
+| 3. | Xcavate dApp Backend   |  Connects dApp to substrate node
+| 4. | Community Loan Pallet | Manage loan application & delivery of build finance |
+| 5. | NFT Pallet | Has functionality to mint and list NFTs on marketplace |
+| 6. | Staking Pallet | User can stake native token and receive rewards |
+| 7. | Governance Functionality | Voting structure. |
+
+## Future Plans
+
+We are engaging with Real Estate Developers and Investors to get market feedback about the POC and will build in the findings to our MVP. We are currently attending the Relayers Incubator Program and have applied to the Substrate builder program. We are planning to launch our project on the Polimec platform to raise awareness and much needed funds at the end of 2023.
+
+
+## Additional Information :heavy_plus_sign:
+
+We are engaged in supporting the PBA in trying to attract potential engineers and founders to both Hong Kong as well as Singapore cohorts in 2024.