Resubmission Details

Incorporation of Feedback

• Addressing Budget Concerns: Revised budget to align with specific development needs and scoped deliverables.

• Clarifying Objectives: Clearly defined objectives for Neona’s integration of Stellar and expansion into cross-border payments.

• Technical Implementation: Detailed plan for integrating Stellar into Neona’s infrastructure and enhancing technical capabilities.

• Team Expertise: Highlighted team’s capability to effectively implement Stellar integration and manage project milestones.

Alignment with SCF Goals

• Integration of Stellar: New focus on integrating Stellar to enhance Neona’s capabilities in cross-border payments.

• Enhanced Roadmap: Revised roadmap with SMART (Specific, Measurable, Achievable, Relevant, Time-Bound) deliverables that demonstrate progress and value creation.

Neona - Cross-Border Payments Solution

Product Description:

Neona is a specialized cross-border payments solution designed for businesses and corporations operating in Africa

Problem Solving:

Neona addresses the inefficiencies of traditional banking systems for cross-border transactions, including high fees, lengthy processing times, and lack of transparency. By integrating with Stellar, Neona enables businesses to settle transactions in USDC (USD Coin) and facilitates seamless fiat payouts to partners and suppliers through partnered banking institutions across Nigeria and other African countries.

Integration with Stellar:

Neona’s integration with Stellar focuses on the following key functionalities:

• USDC Collection: Neona accepts USDC as a payment method from businesses for cross-border transactions.

• Fiat Payouts: Utilizes partnered banking institutions to convert and facilitate fiat payouts to recipients in local currencies across Africa.

• Stellar Network Benefits: Leverages Stellar’s blockchain for fast transaction settlement times, low transaction fees, and secure smart contract functionalities.

• Regulatory Compliance: Ensures compliance with local regulations and financial standards through partnerships and integrations within the Stellar ecosystem.

Why Stellar?

Stellar’s blockchain infrastructure provides Neona with the necessary tools to streamline cross-border payments effectively. By using Stellar, Neona enhances transaction efficiency, reduces costs, and improves transparency, benefiting businesses seeking reliable and cost-effective payment solutions in the African market.

Fund with Stellar Figma UI/UX design for Mobile and web and system design for funding USD account with stablecoins on the Stellar network.

• How to measure completion: When designs and research are completed and presented.
• Estimated date of completion:  1 week
• Budget: $5,111

Backend integration and Stellar SDK integration and RPC integration 

• How to measure completion: When API is available for testing on Swagger and it's confirmed working with fewer or no bugs.
• Estimated date of completion:  2 weeks
• Budget: $15,420

Backend testing and penetration testing for security.

• How to measure completion: When the test report is delivered.
• Estimated date of completion: 2 days
• Budget: $4,300

Mobile (Flutter) and Web (React) integration of the API.

• How to measure completion: When the app is deployed to staging for testing.
• Estimated date of completion: 2 Weeks
• Budget: $15,340

1. Heritage Falodun :- Heritage is a technology professional, Blockchain consultant (Tron, Solona and Stellar) and Educator from Nigeria, with background experience in computer science and software development. His expertise and proficiency cuts across product development, software development and digital finance. He has developed and implemented lots of algorithms for different StartUps and Bitcoin-focused firms such as DigiOats, CashWyre, Dnar, FutureAcademyAfrica and lot more across the global south. With over 7 years experience in product building, he is currently building Neona Synergy basically to address cross-border remittance problems for corporate businesses with full dependency on blockchain technologies. LinkedIn 
2. Kayode Osagie :- Kayode is an excellent Business analyst and Liquidity provider with over 6 years experience in digital assets and cross border payment operations. He previously worked at YellowCard. He actively participated in supplying liquidity to businesses and corporations, collaborating with fintechs, oil companies, and various industries. LinkedIn 
3. Chukwuma Edozie :-  Chukwuma Edozie is a distinguished lawyer renowned for his expertise in FinTech law in Africa. With four years of hands-on experience navigating the intricacies of financial technology regulations, Chukwuma has established himself as a leading authority in the field. His sharp intellect and keen insights have enabled him to effectively counsel clients on the legal aspects of digital finance, ensuring compliance and facilitating innovation. His previous experiences span across being solicitors at multiple chambers.

Deliverable 1

• Brief description: Fund with Stellar Figma UI/UX design for Mobile and web and system design for funding USD account with stablecoins on the Stellar network.
• How to measure completion: When designs and research are completed and presented.
• Estimated date of completion:  1 week
• Budget: $5,111

Deliverable 2

• Brief description: Backend integration and Stellar SDK integration and RPC integration 
• How to measure completion: When API is available for testing on Swagger and it's confirmed working with fewer or no bugs.
• Estimated date of completion:  2 weeks
• Budget: $15,420

Deliverable 3

• Brief Description: Backend testing and penetration testing for security.
• How to measure completion: When the test report is delivered.
• Estimated date of completion: 2 days
• Budget: $4,300

Deliverable 4

• Brief Description: Mobile (Flutter) and Web (React) integration of the API.
• How to measure completion: When the app is deployed to staging for testing.
• Estimated date of completion: 2 Weeks
• Budget: $15,340