[Grant Application]: Cheers

[lolzfag]

Project Description
Cheers is a social-app that allows you to place a long option on another person's future.

Category
Social/Messaging dApps

Timeline
18 Aug 2023: Idea formation
23 Aug 2023: Team formed
31 Aug 2023: Prototype V 0.0 ready
15 Sep 2023: Prototype V 1.0 expected to be ready
15 Oct 2023: MVP V0.0 expected to be ready
15 Nov 2023: Beta launch expected

Project Plan
The 1st phase of the project is to build a sustainable marketplace for users to place long options on their favourite creators.

Cheers grant users the right to share growth with the creators and a period of subscriptions.

The 2nd phase is to enable web2 logins and payments.
This is a phase where users would no longer need to understand about crypto to use our app, we will integrate solutions such as Magic to enable users to signin using gmail if they don't have a wallet, and pay using fiat in 1 step directly without doing onramping -> purchase as a two step process.

The 3rd phase of the project is to build an identity layer for all users on the platform.
This would involve functions that allow users to display their work/discovery layer for users, we target growth by bridging underdog creators from other creator platforms, by giving them overweighted exposures on our platform as well as migration incentives.

The 4th phase is to increase content quality by tapping into MCN connections.
As both income-streams are perfected and discovery layers are built, the next phase is to drive MCN adoptions, as MCNs lead to increase in quality of contents on the platform, it will form a positive flywheel for user inflows.

The 5th phase is to broaden the coverage towards not only social media creators, but also artists, athletes,musicians, and others.
As reputation builds up for cheers, the team will have the bargaining power to ask for more for its users. What if you could now buy a long option on a rising NBA star while enjoying exclusive interaction with the person at your will? Or maybe a rising artists/musician? Yes, Cheers will be that place for you to do so.

The 6th and last phase is to build a super-app by integrating with other dAPPs as well as Web 2 apps, Cheers should be the place for anyone with an appreciation of creator to perform all of their daily activities in the future.

Project Impact
Social media is driven by traffic, but the society today is driven by capitalism. The best traffic you could buy for a creator is a long option on him/her.
Have you ever spotted creators who are low in fan counts but high in production quality? What could you do beside sharing their contents with your friends to support them, and also get rewarded for doing so?
If you trust your judgment in finding a rising star, Cheers is a place where you could be rewarded for doing so as well as effectively supporting your favourite humans.
Not only do fans share growth with creators along the journey, creators also have the flexibility to customize their distributions with their fans to control engagements, and limit the amount of interactions sent towards them while not being limited on the financial upsides of doing so (where in Web2, creators are even penalized for limiting the amount of incoming interactions).

Team Information
Sean: Project lead, previously built a 12,000 fans community in crypto, as well a seedless wallet project called Lounge and was part of the founding team of an institutional-facing RWA protocol called Eczodex. He is also the founder of Imperial College London's blockchain society, and owned 6 restaurants at the peak before Covid hit (In Guangzhou, Changsha and Shenzhen).
Deon: Tech lead, 3 years of Full Stack engineering at Microsoft, part of the founding team of Eczodex (where he met Sean), ex-Beaconfire full stack engineer (1.5 year), KSU alumni.
Part time: Jarseed ---> Web3 engineer at Bitget exchange (1 year)

Point of Contact
tg: @seanchillingatlounge

Previous Work
Lounge Technologies: Seedless wallet login, now redacted as we struggled for PMF.
Eczodex: RWA project, on-going: https://www.eczodex.com/.
Imperial Blockchain Group: Imperial College London's blockchain society.
Project Eggy: https://www.eggymunch.com/.
Microsoft M365's feature developments (by Deon).
Bitget's on-chain data analysis and wallet developments (By Jarseed).