Denied Archelit_ - Grant Application

[Archelit_]

Firm Name
VerdantandCo

Which grant pool are you applying for?
Innovation, Startup, Research and Development (R&D)

How do you plan on using your grant funding?
Honestly, the main thing I want to avoid is building a bank that can't actually pay people out when they need their money. The core of the web portal is already written and hooked into the Treasury API, so the technical framework is there. What I really need this grant for is to build up a solid liquidity reserve. I want to make absolutely sure that when players withdraw their savings or take out their first loan, they get their DC$ instantly without me needing to scramble to cover it.

Aside from that, I think a big part of banking is simply trust. I want to take some time to properly teach the community how to use the web platform. I'm planning to create some simple guides and maybe host a small onboarding event just to get initial players set up and comfortable with it. Finally, because players are trusting me with their actual money, I want to be extra careful on the backend. "I also want to set aside some of the funds to bring in a more experienced developer to look through my database setup and backend code. It feels like a much smarter move to catch any potential issues now rather than having to patch things up later if something unexpected breaks. Running a bank is definitely going to be a learning experience, but I really want to make sure the foundation is totally reliable before we start inviting the wider community to use it heavily.

Ideal Grant Amount 50000

If awarded, I intend to use the grant money allocated to me for its intended purpose on which it was approved for, and provide a breakdown in my application thread of how the funding was used.
Yes

 

[Dept. Commerce]

Denied

The DOC has decided to deny this grant application at this time.