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Technical Architecture:

For the last technical architecture document we did not go in depth in  our stellar/soroban integration, based on the the feedbacks we have made a more detailed technical architecture doc for how we are integrating stellar/soroban to our app.

As a step further to our deliverables we have hosted our horizon instance on our servers to connect with the stellar network by providing a HTTP API

Deliverable & Budget:

We have optimized our budget and made our deliverables more specific for this submission

We currently have 55k+ users transacting $7.8M/month in GMV 

[Deliverable 1]

Integrate  the Horizon API & SDK to interact with the Stellar network

This would allow us to

Create Stellar account

Receive XLM from external wallets

Check/query XLM account balance

View transactions history

Send XLM to flux users and external users

How to measure completion:

We would provide reviewer login fully setup here staging.dashboard.iflux.app to test the features and also have video demos available. The following steps will be helpful to test the features

Visit the staging website staging.dashboard.iflux.app

Login with provided credentials 

Click crypto in the bottom Nav bar

Click deposit crypto

click XLM 

deposit <$1-1

go back to wallet screen

check transaction history

Estimated date of completion: 12/12/2023

Budget: $18,000

[Deliverable 2]

Upon successfully integrating deliverable 1 we can now connect our stellar integration to fiat services

XLM-fiat swaps

XLM to virtual card funding for payments

XLM to bills payments

XLM to direct bank account payouts for merchants

How to measure completion:

visit staging.dashboard.iflux.app(we will provide login for the reviewers) and do a video demo

Deposit XLM

click swap crypto

select XLM to USDT or BTC

Enter the swap amount to get the quote

Click Swap

Navigate back to wallet screen to check transaction history

Estimated date of completion: 28/12/2023

Budget: $20,000

Product & Architecture

Product

Flux is a mobile app that enables users to access banking(deposit accounts and instant bank transfers), crypto services( onramp and off ramps, swaps), merchants and bills payments in one place.

Problem Flux solves

Cross border payments- Traditional fiat rails for cross border payments can be slow(takes 4-7 working days ), expensive(about 10-15% fees to receive payments) and also can be complex(might need 2-3 apps + middleman before final off ramp to bank). Paypal and many other remittance platforms that easily solves this problem are not supported

Crypto for everyday payments: One of the biggest blockers to why people cannot use or access crypto and utilize for daily payments is because of platform user experience. A lot of platforms that support crypto do not have the best user experience, either too many steps and processes or just generally overly complex user interface

Crypto- With crypto adoption quickly rising in Africa , stables have become a great way for people to hedge against inflation and devaluation of our local currency. However most crypto platforms are built mostly as trading only and crypto exchange platforms which is extremely complex for non crypto power users that just want to access basic services like on ramp/offramp and this difficulty hinders adoption.

How Flux solves these

Flux uses crypto and fiat to power local payments and  cross border payments, when users signup and upon successful KYC, users can access banking services like fiat deposit accounts, bank transfers , virtual cards and bills payments. Our banking services allows users to make payments to merchants locally using either fiat or crypto balance , send money to friends, pay bills or access a virtual card service. We have built a perfect ecosystem where users can transact easily using either fiat or crypto balance. 

Users can also receive payments via supported crypto in app and instantly off-ramping to their banks , this serves as a mean of cross border payments for freelancers, remote workers that use our app for crypto based payments. 

To drive adoption with our customers we built a perfect blend for both the fiat and crypto everyday use cases.

We are building primary support for Africa starting with Nigeria, Users can access Fiat and crypto banking all in one place, we have built an amazing user experience that allows users spend crypto easily  via their we have built support for all major banks so basically users are connected to bank transfers, cards, bills payments, on/offramp. 

Benefits

Flux enables customers to receive remittance payments this enables remote work / freelancing as customers can easily get paid, we also provide more affordable way to bank locally where making payments on flux via crypto or fiat is more cash efficient than traditional banks. Also using our app customers can serve their  everyday real life payments needs on flux we currently serves thousands of customers and at scale can allow a whole lot more customers use  crypto for everyday payments

For our total expected Roadmap would be  1 month max in total we need $38k for the complete development of deliverable 1 and 2

The $38k would cover legal, Devops and SR, development cost for engineers, and other miscellanous  fees for the project

Ben Eluan cofounder and CEO(YCW21) https://www.linkedin.com/in/ben-eluan Ben is the Cofounder and CEO of Flux, Under Ben's leadership, Flux has become a pioneer in the field of fiat and cryptocurrency banking in Africa. 

Osezele Orukpe(YC W21)

Osezele Orukpe Cofounder and CTO https://www.linkedin.com/in/osezele-orukpe-1a37a9167 Osezele is the CTO and Cofounder of Flux. Osezele is in charge of building, managing and maintaining the technology infrastructure of Flux. 

Experience with Stellar SDKs (e.g., JavaScript, Python) and tools like Stellar Laboratory.

Expertise in building payment systems and managing transactions on Stellar and over 10+ other blockchain protocols

Proficiency in relevant languages like JavaScript (for SDKs) and Go (for Stellar Core).

 Proficiency in interacting with the Horizon API for building applications.

Akintunde Israel
Cofounder and Vp Engineering(YCW21)

https://www.linkedin.com/in/israel-akintunde

Israel plays a crucial role in guiding the technical teams to deliver robust, innovative, and user-friendly solutions. His leadership ensures that the engineering department aligns with the Flux's vision, offering a perfect blend of fiat and cryptocurrency services.

Frameworks:Proficient in ReactJS, VueJS, and the Flux architecture, he drives a consistent and modern user experience.

API Consumption: Experience in consuming RESTful APIs, particularly Stellar Horizon API, for data retrieval and transaction handling.

Stellar SDK Integration: Ability to integrate Stellar's JavaScript SDK to interact with the Stellar network in frontend applications

Optimization: Committed to Performance and SE Optimization, he ensures the platform operates swiftly and efficiently.

Testing & Accessibility: Emphasizing E2E Testing, Software Testing, and Accessibility Auditing, Israel ensures a platform that is both high-quality and inclusive.

Backend Integration: With a grasp of NodeJS, he ensures seamless communication between frontend and backend teams, promoting integrated solutions.