Submission Date
October 25, 2021
Project Links
Website: https://www.diagonal.finance/
Medium: Diagonal – Medium
Twitter: https://twitter.com/DiagonalFinance
Project Description
Diagonal is a non-custodial protocol that enables recurring payments for web3.
Due to the broad potential applications of Diagonal, we believe our project can be classified as a DeFi and NFT project, a tool for DeFi projects, and a support tool for DAOs.
Diagonal technology is decentralised, secure, gas-efficient and tested – making it incredibly easy for anyone to integrate on-chain recurring payments.
Amount requested
125,000 USD
Milestones
Milestone 1 - deploy alpha (December 2021)
For this milestone we will deploy our Alpha and begin testing with early providers:
• Deploy our contracts on Polygon.
• Deploy merchant UI.
• Deploy payment links.
• Deploy subgraph.
Budget $30K:
Funds will be used to:
• Compensate early founding team.
• Pay compute and storage costs.
• Incorporate an LLC that is future proof and allows us to create a DAO.
Milestone 2 - Deploy Beta (Q1 2022)
For this milestone we will deploy our Beta, which includes the above and an additional custom checkout widget and NFT minting.
Budget $30K:
Funds will be used to:
• Compensate early founding team + compensate one more Front end developer.
• Pay for compute and storage costs
• DAO incorporation fees and any potential
Milestone3 - Deploy token (Q1 2022)
We will deploy our token and begin subscriber and merchant incentive programs.
Budget $30K:
Funds will be used to:
• Compensation.
• Compute + storage costs.
• Tokenemoics consultation.
Milestone 4 - Diagonal V1 + TLV (Q2 2022)
We will set a TVL milestone of $5M.
We think this number is ambitious but achievable. Currently the TLV for the Superfluid streaming protocol, which we build upon is $100M (DefiLlama - DeFi Dashboard).
Assuming the protocol continues to grow, achieving a ~1-5% TLV capture in the first few months of our project will have succeeded in launching Diagonal.
Budget $35K:
• Compensation.
• Pay compute and storage costs.