Proposal details
Project Name
CryptoGrow
Project Type
Integrate IoTeX, New IoT Devices
Proposal Description
CryptoGrow is a web3-native tech company pioneering a “Proof of Grow” model to disrupt emerging markets and bridge cutting-edge hardware with DeFi systems and the growing web3 ecosystem.
We’ve already raised over $1M through investments as well as the sale of our Genesis NFT, the “Burn NFT” which will be redeemed for our hardware in the near future.
Our R&D and IP development is completed
Bench audits, performed by independent experts, of the Cryptogrow ’s hardware / software have been completed with positive results and few required modifications.
We have a large, active community consisting of 16k organic followers on Twitter and 9k members within our Discord.
Our genesis product, the CryptoGrow Pod, is a web3-integrated cannabis growing machine that allows anyone to easily and affordably grow premium cannabis in their home.
The Pod automatically adjusts its internal ecosystem (lighting, temperature, humidity, hydration, airflow, etc.) to maximize the quality and quantity of your cannabis harvest.
What makes our ecosystem unique is that if you’d like to Grow, our Grow-To-Earn tokenomics system is designed to reward you with $HRVST tokens for your engagement!
The process is simple:
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Mint a “Burn NFT” which will be redeemed in about 6 months for a CryptoPod and a dynamic “Grow NFT” which will evolve alongside your actual grow using the data produced by IoTeX. This way our NFTs and the status of our users will be backed by hard, on-chain data.
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You will then order supplies from our web3-enabled eCommerce store with $HRVST tokens which will have come with your Grow NFT.
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Throughout your Grow, you will be rewarded with more $HRVST tokens as a form of “Proof of Growth” which, again, will be backed by the data recorded on-chain with IoTeX.
Our first NFT sale is live and continues to mint every day as users are keen on the product we are delivering. We are currently deployed on Ethereum Mainnet with intentions to deploy our complete token economy and subsequent NFTs on Polygon Mainnet whilst using IoTex as a back-end service for recording all data immutably.
We are seeking a grant and development resources from IoTex so that we may be a part of setting the standard for how Web3, MachineFi, and traditional business should be united using the right technology, such as IoTeX. Our aim is to help popularize IoTeX via our unique implementation and assist in ushering in a new wave of users while increasing the amount of existing machines on IoTeX by as much as 29%. We believe that by demonstrating how advanced web3 tech such as this can help traditional business models that more businesses will be inspired to build on IoTeX and with web3 tech.
Many users in crypto/web3 today are more technically-minded than the average, but we aim to democratize access to the power that web3 grants and we would be honored to work with IoTeX directly to manifest this goal.
We thank you for your consideration and look forward to hearing from the IoTeX community as well as answering any questions!
Milestones
- Milestone 1:
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Duration (weeks): 2-6 weeks
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Deliverables: Set up our own Webstream Node
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Funds request (USD): $10,000 USD
- Milestone 2:
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Duration (weeks): 7-10 weeks
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Deliverables: Connect our hardware to the IoTex Network
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Funds request (USD): $20,000 USD
- Milestone 3:
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Duration (weeks): 6-10 weeks
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Deliverables: Display this data to users and the public via a Dashboard to prove the viability of MachineFi and use this data to fuel further business logic and issue rewards to users.
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Funds request (USD): $20,000 USD
Total funds requested
$50,000
Please checkmark the following if you agree
Although these options are not mandatory, please consider committing to them for the greater benefit of the IoTeX ecosystem.
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We commit to open source the project: No. Our code is proprietary, however, we will verify contracts on Block Explorers for users to review our code and ensure their funds are safe.
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We commit to stake IOTX on the IoTeX Blockchain: We will not stake IOTX on-chain.
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We commit to donate 0.25% of $HRVST to the IoTeX Foundation: Yes, we will donate.
About your Team
Find all of our team members in the following section of our Gitbook.
Metrics
We anticipate thousands of transactions per month and our initial batch of machines will consist of 100 machines to be delivered within the next 6 months or so. (Subject to change due to supply-chain instability. We will communicate any updates to our community.)
Links
Twitter: https://twitter.com/CryptoGrowNFT
Read our entire GitBook here: Welcome to CryptoGrow - Grow Manual
You may view our site here where minting is live: https://cryptogrow.world/
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