Hashkey Grant Application

[chuanglyu0402]

Grant Type

Session 1

Email

vsharpbank@kodo.finance

Telegram

@claudiobit

X/Twitter Handle

No response

Discord/Community

No response

Previous Application

N/A

Code Audit

yes

Project Information

1. Project Description and Objectives:

KODO Finance: Redefining Global Payments with Digital Currency
KODO Finance is a fintech platform focused on providing efficient, secure, and compliant global payment solutions, emphasizing decentralized finance and Bitcoin ecosystem development. Leveraging blockchain technology, the platform offers comprehensive payment services covering both digital and traditional currencies for individuals, businesses, and financial institutions.

Core Services:

• Global Payment Collection:
  Provides global account support with diverse collection services for fiat and digital currencies. Features include online account opening, acceptance of minor currencies, and digital currency payments.
• Cross-Border Payments:
  One-click direct payments with local currency settlement, bypassing exchange fees, and utilizing global local clearing networks to meet large-scale business payment needs.
• KODO Card:
  Offers bulk issuance of multi-currency settlement cards, covering a wide range of consumption scenarios to meet global payment demands.

Core Advantages:

• Efficiency: Blockchain technology enables near-instant settlement of payment processes.
• Global Reach: Supports mainstream digital currencies and multiple fiat currencies across 20+ countries and regions, with transaction volumes exceeding $10 million.
• Security: Implements multi-layer encryption and strict risk control systems to ensure the safety of funds and data.
• Flexibility: Customizable payment methods, settlement cycles, and fee structures tailored to merchant needs.
• Compliance: Licensed in key regions, including a U.S. MSB license and Lithuania’s VASP license, ensuring global operations run in compliance.

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2. Success Potential:

• Market Demand:
  Stablecoin payments have established applications in B2B scenarios, but the B2C market remains in its infancy, requiring innovative payment solutions. KODO’s palm-print payment protocol directly addresses this emerging need.
• Technical Feasibility:
  Successfully deployed on the Hashkey blockchain, combining palm-print payment technology with zero-knowledge proofs to ensure security and privacy.
• Team Capability:
  The team brings extensive experience in fintech and blockchain development, with core members having held key positions at WeChat Pay and ByteDance's international payment departments. Senior executives from Binance and OKX have also joined as angel investors.

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3. Mission Alignment:

KODO's goals align closely with Hashkey’s objectives by expanding the use cases of the Hashkey ecosystem through an innovative decentralized payment protocol. This enhances the utility of native tokens while deploying advanced biometric payment solutions, reinforcing Hashkey's leadership in Web3 payment solutions.

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4. Innovation:

• Biometric Payment Protocol:
  Utilizes palm-print recognition technology to enable seamless payments, significantly enhancing convenience and security.
• Decentralized Network:
  Ensures transparency and privacy by recording payment data on-chain.
• Stablecoin Adoption Tool:
  Simplifies the payment process to lower the entry barrier for users into Web3.

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5. Open Source:

Currently, the core protocol is closed-source. However, select foundational components are planned for open-sourcing in the future to encourage community participation.

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6. Free or Fee-Based for End Users:

• End Users:
  Core payment functions are offered free of charge.
• Merchants and Enterprises:
  Customized services and API integrations are fee-based to ensure long-term sustainability.

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7. Interoperability with Hashkey Ecosystem:

• Fully supports Hashkey’s native tokens for payments and incentives.
• Expands Hashkey’s ecosystem coverage in B2C scenarios through the palm-print payment protocol, increasing token usage frequency and value.

Market Analysis

1. Competitors and Differentiation

Competitors:
Worldcoin and traditional blockchain payment platforms.

Differentiation Advantages:

1. Higher Accuracy and Security in Identification:
   KODO’s palm-print biometric technology offers greater uniqueness and resistance to forgery compared to iris, fingerprint, or facial recognition. It also minimizes excessive exposure of private information. By directly applying palm-print recognition to payment scenarios, KODO ensures high security and low error rates in both identity authentication and the payment process.

2. Medium-Free Payment Experience:
   KODO eliminates the need for physical media (such as cards or smartphones), allowing users to complete payments using only their palm prints. This significantly optimizes the payment process, improving convenience, especially in high-frequency and low-value payment scenarios.

3. Innovative Pay-to-Earn Model:
   By embedding a token reward mechanism within its decentralized payment protocol, KODO enables real-time incentive distribution with every transaction. This not only enhances user engagement and loyalty but also facilitates quicker user adaptation and promotion of the palm-print payment protocol.

4. Strong Scalability:
   Beyond payment scenarios, KODO’s palm-print recognition technology can be extended to use cases such as membership point payments, on-chain donations, bill payments, and DeFi credit loans, showcasing extensive ecosystem application potential.

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2. Current User Base and Estimation Method

• Current User Base:
  KODO has already been successfully implemented in real-world scenarios, such as providing stablecoin payment solutions for smartphone users in Latin America and the Middle East through partnerships with Realme. These operations have processed millions of dollars in transaction volume, providing a solid foundation for subsequent deployment on the Hashkey chain.

• Estimation Method:
  Based on the conversion rates observed in Realme’s payment activities and the user distribution within the Hashkey ecosystem, KODO estimates attracting 500–1,000 users during the initial testing phase on Hashkey. With the expansion of retail and cross-border payment scenarios, the user base is projected to exceed 5,000 users within six months, driven by targeted marketing campaigns and token incentive programs, leading to exponential user growth.

Recipient Address

0xf38b8c431f1381ef85593f9dd3a1aaabca974e65

Budget and Plan

1. Grant Size and Justification

• Requested Amount: $100,000
• Allocation:
  • Technical Integration and Optimization: Enhance compatibility with the Hashkey chain.
  • Market Promotion: Drive adoption of palm-print payment in emerging markets and the Hashkey ecosystem.
  • Equipment Deployment: Procure and deploy additional palm-print payment devices for testing and operations.

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2. Project Execution Plan (Roadmap)

Phase 1 (0–3 months):

• Complete integration of Hashkey tokens to support payments and rewards.
• Deploy palm-print payment devices on Hashkey’s testnet and validate functionality.

Phase 2 (3–6 months):

• Expand use cases to real-world scenarios, such as retail payments and cross-border transfers.
• Launch user incentive programs (e.g., token rewards for completing payment tasks).

Phase 3 (6–12 months):

• Conduct large-scale promotion in target markets and expand merchant network coverage.
• Introduce DeFi applications based on palm-print payments, such as loans and staking.

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3. Token Distribution (Percentages and Initiatives)

• Incentive Programs: 50%
• Development Reserve: 20%
• Marketing and Community Building: 15%
• Team Allocation: 15%

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4. Token Distribution Timeline

• Initial Allocation (Month 0): 30%
• Gradual Release: Remaining tokens will be distributed over 12 months based on project milestones.

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5. Post-Incentives Sustainability

• Revenue Streams: Merchant service fees and transaction fees will be key long-term revenue sources.
• Sustainable Growth: Achieved through token staking and subscription-based services.

Hashkey Relationship

1. Problem Solved for Hashkey

Through the palm-print payment protocol, Hashkey chain gains a secure, decentralized payment solution that drives adoption in consumer-facing (C-end) scenarios, enhancing ecosystem engagement and activity.

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2. Value Proposition

• Expands practical use cases for Hashkey.
• Promotes circulation and value growth of Hashkey's native token.

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3. Growth Potential for Hashkey

The deployment of KODO is expected to attract more users, merchants, and developers to the Hashkey ecosystem, increasing overall transaction volume and market influence.

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4. Commitment to Building on Hashkey

KODO is committed to using Hashkey as its primary deployment platform, further expanding core functions and services based on the Hashkey infrastructure.

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5. Deployment Status

KODO’s palm-print payment protocol has been successfully deployed on the Hashkey testnet, with core functionalities validated.

Milestones

Milestone 1: Integrate Hashkey tokens and initiate device testing (Months 0–3)
Milestone 2: Deploy and validate functionality in retail and cross-border scenarios (Months 3–6)
Milestone 3: Scale up promotion and expand into DeFi applications (Months 6–12)

Terms Confirmation

• I confirm that all information provided is true and accurate
• I understand and agree to comply with the grant policies
• I understand the KYC requirements
• I confirm token distribution complies with legal requirements