Bebop: Pay, Save and Invest
SCF #27 Activation Award End-User Application $50,000 View in SCF

Bebop leverages blockchain and stablecoin technology to change the way that 500 million African youth pay, save and invest

Team

johnnymaddog

Code URL

Video URL

https://www.loom.com/share/8611d58dd03047b29959767822380ba2?sid=b3b6ab08-7dee-4710-a8ad-30059266ec29

Pitch Deck URL

https://drive.google.com/file/d/17-fIqeJZGJNFXEgg8j62K949NHrtWLDa/view?usp=share_link

Project Categories

Project Type [If End-User Applications]

Section

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Product & Architecture

We're building a stablecoin wallet that leverages the blockchain to provide

financial solutions for 500 million unbanked African youth.

The product is a mobile app that allows Users to effortlessly open a dollar

stablecoin account directly from their smartphones. We sponsor account creation and setup trust line to Circle USDC.

Users can leverage our platform to open "savings accounts", earn yields, and

access borrowing facilities against their savings. Allowing them to preserve

their wealth in the midst of economic volatility and currency devaluation. This is made possible by Blend, a liquidity protocol built on Stellar using Soroban smart contracts. We've built a simple interface and handle all the details between dealing with smart contracts

The app enables users to purchase a "Soroban domain," which functions as a smart contract mapping users' keys to simple names such as "chris.xlm." Contracts are Non-Custodial but we build an easy to use interface abstraction for non-crypto natives

In addition Users receive a virtual and physical debit card linked to their balance,

empowering them to transact both online and offline bridging the gap

between traditional financial systems and cryptocurrencies, and significantly

reducing friction between the two.

The app lets users send and receive their stablecoin balance for free,

instantly and anywhere, regardless of location, to other users within the app.

The app serves as a gateway for the youth to explore the world of

cryptocurrency investment, allowing them to easily buy, hold, and sell various

digital assets like Bitcoin. Allowing them means to not only preserve their

wealth but also multiply it.

While our app is built on blockchain technology, we have abstracted away

the complexities associated with it, such as keys and seed phrases, to

provide a familiar mobile money/banking experience for non-crypto natives.Yet, still retain the benefits of blockchain, offering free, instant, and reliable transactions.

Technical Architecture Doc

https://drive.google.com/file/d/1PMyo8MgFFQWspq1-G2n1rr1_hUsc4mMo/view?usp=share_link

Project URL

www.bebop.cash

Requested Budget in USD ($)

50000

Total Expected Roadmap

Q2 ‘24: iOS App Live, Yield protocols integrated

Q3 ‘24: Solidify early adopters, Iterate on user feedback, distributing virtual cards, pay to existing finance rails from the app

Q4 ‘24: Android App Live, Distributing physical cards to users

We're currently in the midst of our first fundraising round, actively engaging with a diverse range of VC funds and accelerators, including Hustlefund and YCombinator. Our objective is to secure $500,000 to fortify our core teams, strategically expand our workforce, and craft a medium to long-term strategy for scaling our app's user base. This round serves as a bridge, sustaining us for 6 to 8 months until we transition to a fully VC-led round, potentially with accelerator involvement. It's a critical juncture for us, marking our evolution into an investable company. We plan to allocate capital with precision, with 50% directed towards our product and tech team, 30% towards bolstering our data team and operational processes, and the remaining 20% towards empowering our growth team and initiating impactful marketing campaigns.

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Public Entity Name

Bebop Inc

Entity Description

Bebop is focused on providing innovative financial solutions to those who need it most. 

Deliverables List

[ SEP 24 + SEP 10 Integration  ]

ON/OFF Ramps with Anchor widgets handling UI, clients must support SEP-10 web authentication to enable authenticated deposits, withdrawals, or transaction history lookups.

How to measure -> Feature will be live on TestFlight

Completion -> June 6th

Budget -> $8000

[ SEP 30 Integration ]

Implement the standard API that enables an individual (e.g., a user or wallet) to regain access to a Stellar account that it owns after the individual has lost its private key without providing any third-party control of the account.

How to measure -> Feature will be live on TestFlight

Completion -> June 14th

Budget -> $6000

[ Blend Liquidity protocol Integration ]

Users will be able to access high yield on their USDC via liquidity pools set up using self-custodial smart contracts. We allow access through through an easy to use and understand mobile interface

How to measure -> Feature will be live on TestFlight

Completion -> 1 July

Budget -> $18000

[ Soroban domains Integration ]

Users will be able to buy domains like “chris.xlm”. Users can share these domains instead of their public key making payments on stellar even easier. We want to offer our users the options to do this in an easy to use interface

How to measure -> Feature will be live on TestFlight

Completion -> 16th July

Budget -> $14000

[ Go Live ]

Move Bebop out of the beta stage and go live on the App Store.

How to measure -> App Will be on the App Store

Completion -> 24th July

Budget -> $4000

Team bio

Chris

CEO/Lead Engineer

Github

Christopher, an experienced and knowledgeable programmer, with 8 years experience as a Lead Engineer, leveraging his deep understanding of complex systems and blockchain to revolutionize industries with innovative solutions.

Kayima

Chief Business and Legal Officer

Kayima a certified Lawyer, saw the potential of blockchain to transform the financial sector but understood the challenges that it poses. With his deep understanding of the legal landscape in Uganda and East Africa, he co-founded a blockchain-fintech startup that navigated regulatory challenges while offering innovative solutions.

  • Bowmans AF Mpanga Advocates
  • Kasirye & Byaruhunga & Co. Advocates

Kiannah

Lead Designer

Kiannah is a talented and driven individual who brings a unique combination of creativity and technical skills to the team. Currently studying at the University of San Francisco, Kiannah has a strong background in design and has honed her skills through various internships and freelance projects.

  • Founder of the Let Me Read To You Community Project
  • Korea Science Academy of KAIST Student Government— Head of the International Department and Project Founder

we’ve assembled a team capable of navigating the technical and regulatory challenges inherent in redefining finance for Africa's future.