Accepted Nim - Grant Application

[Nim]

Firm Name
Redmont Stock Exchange (Ingame:RSE)

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

How do you plan on using your grant funding?
I intend to use the funds for Legal Fees, Property Costs, Development of an Automated Stock Exchange, and funding of Regulatory Bodies and Compliance Infrastructure.

Ideal Grant Amount $150,000

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

 

[xSyncx]

Hi @Nim, due to the size and nature of your business, can you please provide a breakdown of estimated costs and business model? If you believe this to be of sensitive nature, you may open a doc ticket on the DC discord.

 

[Nim]

Cost Breakdown:​

1. Legal Fees ($50,000)
   
   • Purpose: Legal services to ensure compliance, drafting contracts, and other corporate legal matters.
   • Estimated Cost Allocation:
     • Compliance consulting: $20,000
     • Firm and Financial Insitution Setup: $30,000
2. Property Costs ($50,000)
   
   • Purpose: Property market is really expensive, this is for purchaching a property for the exchange and to temporarily lease to all firms related in this message.
3. Development of an Automated Stock Exchange ($20,000)
   
   • Purpose: Paying for fees/setup of accounts on financial institutions to make this happen.
   • Estimated Cost Allocation:
     • Covering initial fees of other financial institutions: $15,000
     • Hiring employees: $5,000
4. Funding Regulatory Bodies and Compliance Infrastructure ($50,000)
   
   • Purpose: Establishing smaller companies related to the exchange to properly allow competition and use of the systems I build, these companies need employees.
   • Estimated Cost Allocation:
     • Brokerage: $10,000
     • Financial Numbers Authority: $20,000 (I am hoping at some point non profits exist and it can transition to one. $10,000 of that is towards non profits, the rest is for employees)
     • Fees for consulting internal policies and regulation: $10,000
     • A depository: $10,000 (For assets listed directly on the exchange this will be the issuing depository, it will keep track of who owns how much, and allows for transfer of securities off the depository, further unmonopolizing this sector)

 

[xSyncx]

Accepted

Congratulations, you have been approved for a partial grant of $35,000 in funding which will be disbursed into your account shortly. As you use these funds, please provide evidence (i.e. screenshots) on how it is getting used to meet its intended purpose! If you require more funds in a month, you may re-apply with evaluation based on spending so far. Cheers

 

[Nim]

$15,000 for construction of building at Bloom.