Hashkey Grant Application

[0xandrewbit]

Grant Type

Session 1

Email

contact@drophub.fun

Telegram

https://t.me/andrew_bit

X/Twitter Handle

https://x.com/drophuber

Discord/Community

https://discord.com/invite/Hqr5zxyqcS

Previous Application

N/A

Code Audit

No

Project Information

DropHub is the First RWA Launchpad for Artists and Investors

Deck Link: https://pitch.com/v/drophub_deck_hashkey-ccysv7

1.Project Decriptions and Objectives

Problems

• For Artists
: For most independent musicians, funding for production, copyright protection, and performances remains a common challenge.
• For Investors
: Traditional music asset revenue sharing lacks transparency and liquidity, while Web3 RWA like bonds have high entry barriers.

Solutions:

• Independent musicians can crowdfund via decentralized RWA NFTs/FTs, granting investors partial revenue rights.
• Any investor can join using a crypto wallet.
• RWA NFTs/FTs offer 24/7 liquidity on NFT marketplaces or DEXs.
• Smart contracts ensure transparent, immutable profit sharing.

Prototype Draft:

• Homepage

• Artist Profiles & RWA NFT Listings

• Investors buy artist RWA NFTs and pay a 1% transaction fee to DropHub

• Investors hold artist RWA NFTs

• Investors view artist royalty splitting records on the dashboard

Objectives (post-launching MVP)

• over 50 independent musicians join DropHub
• Over 5000 active wallet users use DropHub
• Get revenue from launching and transaction fees

2.Success Potential

• RWA is rapidly bridging Web2 and Web3, enabling traditional financial and alternative assets to gain higher liquidity and transparency through tokenization. Our MVP focuses on tokenizing Web2 music royalties, positioning us to become a leading platform in the niche market of music investment.

• Our team has strong expertise in both music and Web3, allowing us to design a professional and well-structured product by leveraging our experience, technology, and resources.

3.Mission Alignment

Our mission is to onboard more RWA Web2 users—whether artists, investors, or fans—onto the HashKey chain, driving greater engagement and transactions to enhance both the DropHub platform and the HashKey ecosystem. We also aim for DropHub to serve as a standout RWA use case for HashKey, gaining wider adoption and recognition.

4. Innovation

• The first RWA launchpad for alternative asset royalties with 24/7 public liquidity.
• Automated on-chain royalty distribution via smart contracts.
• Focused on serving independent musicians rather than signed artists.

5. Is it Open Source?

The product client is not open source, but the royalty distribution smart contract may be considered for open sourcing.

6. Free or Fee-Based for End Users
Registration is free, but issuing RWA NFTs/FTs and trading them will incur fees. The current transaction fee is set at 1%.

7.Interoperability with the HashKey Ecosystem

• On-Chain Integration – DropHub's RWA NFTs/FTs will be issued and traded on the HashKey chain, ensuring seamless compatibility with its infrastructure.

• Liquidity & Trading – RWA assets can be traded on HashKey-supported DEXs and marketplaces, enhancing liquidity within the ecosystem.

• Wallet & Identity Support – Users can interact with DropHub using HashKey-compatible wallets and identity solutions, ensuring a smooth onboarding process for Web2 and Web3 users.

• Smart Contract Compatibility – DropHub’s royalty distribution contracts can be optimized to work within the HashKey ecosystem, potentially leveraging HashKey’s compliance and security frameworks.

• Ecosystem Collaboration – DropHub can integrate with other HashKey projects, such as DeFi protocols, lending platforms, or staking mechanisms, to create additional utility for RWA NFTs/FTs.

• Regulatory & Compliance Alignment – HashKey’s regulatory framework can provide a trusted environment for RWA tokenization, ensuring compliance with financial regulations and expanding institutional adoption.

Market Analysis

• globally more than 4 million artists release music independently (without a traditional label)
• Specialized platforms in music royalty investments, like Royalty Exchange, already report having a community of over 22,500 investors, and current global crypto wallet users number in the hundreds of millions, and a subset may be potential investors.

Recipient Address

0xF0F1233d905f8e7AF2124b246ED3fCA2bF4769fd

Budget and Plan

1.Grant Size and Justication
Equivalent to USD $20,000 in HSK

2.Roadmap

Note: Tokenomics of DropHub is still under designing.

Hashkey Relationship

1.Problems Solved for Hashkey

• Innovative RWA use case
• Increase in on-chain users, including both native and new Web2 users
• Growth in on-chain transactions

2.Value Proposition
Through RWA, connecting Web2 and Web3, bringing more users and liquidity.

3.Growth Potential for Hashkey

• onchain users/transactions
• increasing influence of RWA use cases

4.Commitment to Building Hashkey
Dedicated to developing innovative solutions that bridge Web2 and Web3, fostering growth in user engagement, transactions, and liquidity on the Hashkey platform.

5.Deployment status
Not live

Milestones

Milestone 1: Product Docs and Designing

Timeline: 10 Days
Funding: Equivalent to USD $5,000 in HSK
Goal: Create a detailed plan about product development
Deliverables:

• Detailed Product Requirement Document for DropHub MVP
• The prototype design draft of DropHub MVP

Milestone 2: Core Development and Prototype Completion

Timeline: 30 Days
Funding: Equivalent to USD $10,000 in HSK
Goal: Develop the functional prototype and core features of DropHub MVP.
Deliverables:

• Core features, including [RWA NFT Creating, Minting], developed.
• Backend and frontend components fully integrated.
  -Internal testing conducted to assess performance and detect bugs.

Milestone 3: Smart Contract and Final Adjustments

Timeline: 15 Days
Funding: Equivalent to USD $5,000 in HSK
Goal: Complete the smart contract for royalty splitting and prepare for public launch by conducting beta testing and implementing necessary refinements.
Deliverables:

• Royalty splitting smart contract and related functions
• Independent Musicians/investors feedback collected and analysed.
• Improvements and bug fixes implemented based on feedback.
• Final version prepared for launch on Hashkey chain mainnet.

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