About the Finternet 

The goal of the Finternet is to enable anyone to connect to financial services like they do their email. This means that you should,

• only have to sign up once to access all services 
• be able to transact with anyone in the world
• be able to access services seamlessly anywhere in the world

 

The Finternet envisions two key technical primitives to enable this: asset tokenization & a Unified Ledger.

1. Tokenization using cryptography provides a degree of security via immutability and programmatic composability across systems.  
2. A Unified Ledger is the universal infra for said composability by allowing any system in the world to plug in and access the Finternet.

 

These two primitives along with trusted service providers create global rails with permissioned flows. 

 

Let’s understand this better with an example of global lending via Finternet rails, 

If you wanted to take a loan against your home today, you’d need to submit documents individually to each bank in your city and compare terms. This process restricts your options and is slow and inefficient. 

 

However, with the Finternet, you could

1. Issue a tokenized property certificate from the relevant authority 
2. Search for loan providers across Banks & DeFi protocols globally
3. Select the loan that best meets your needs
4. Have the loan disbursed straight to your Finternet account

 

The idea is to create on and off ramps which allow traditionally fragmented systems to connect with the Finternet’s Unified Ledger via tokenized assets. 

Get up to $10K to help build the Finternet using Solana

Superteam now supports the Solana Foundation & Finternet grants program. Among other things, we recommend applicants with high community reputation scores. These are grants designed to empower developers, founders, asset managers & policy professionals all over the world to contribute to the Finternet sandbox and playground through thoughtful content & code. Anyone with an idea & proof of work is welcome to apply and receive a funding decision for a $1 - $10,000 grant. 

Finternet Request for Proposals (RFPs)

Financial Products

1. Tokenized Stock Baskets

Build a platform that enables users to create, manage, and trade diversified stock portfolios on Finternet. The system should allow users to create custom baskets with fractional ownership capabilities, handle dividend distributions automatically, and support market making for liquidity. Automated portfolio strategies should help users maintain their desired allocations through smart rebalancing.

 

2. Cross Border Forex

Create a forex trading and settlement application that connects global currency markets through Finternet. The system should support multiple currency trading pairs with deep liquidity pools, integrate reliable rate feeds, and enable instant settlement. Special focus should be given to establishing efficient remittance corridors for high-volume transfer routes.

 

3. Invoice Financing

Develop a marketplace that connects businesses seeking working capital with investors through invoice financing on Finternet. The platform should enable invoice tokenization with robust verification, implement a fair credit scoring system, and facilitate efficient secondary market trading. Payment tracking and automated settlement will ensure transparency throughout the invoice lifecycle.

Asset Tokenization

4. Tokenized Gold

Create a gold-backed token system that bridges physical gold custody with digital trading on Finternet. The platform should manage the entire lifecycle from custody of physical gold to digital trading and final redemption. Real-time pricing and transparent custody verification will build trust in the system.

 

5. Tokenized Real Estate

Build a platform that transforms real estate into tradeable digital assets on Finternet. The system should handle property tokenization, manage fractional ownership rights, automate rental income distribution, and provide property management tools. A liquid secondary market will be crucial for owner flexibility.

 

6. Tokenized Energy

Develop an energy trading system that enables efficient energy resource allocation through Finternet. The platform should define standardized energy units, integrate with existing grid systems, facilitate trading between producers and consumers, and manage the settlement process. Special attention should be given to renewable energy certificate tracking.

 

7. Tokenized Carbon Credits

Create a carbon credit marketplace that brings transparency and efficiency to emissions trading on Finternet. The system should verify credit authenticity, enable trading between parties, manage the retirement process, and track environmental impact. Market analytics will help participants make informed decisions.

 

8. Tokenized Customer Loyalty

Build a unified loyalty system that enables points to flow freely between merchants on Finternet. The platform should standardize points issuance, simplify merchant onboarding, facilitate point exchange between programs, and create a rewarding marketplace for consumers. Analytics tools will help merchants optimize their programs.

Evaluation Criteria

Proposals will be evaluated based on the technical soundness of the design, demonstrated market potential, team capability to execute, and comprehensiveness of security considerations.

 

Our sponsors receive tens of applications every week, and may not have the time to give detailed feedback on every application. Please keep that in mind before you apply. 

 

NOTE: The core team does not manage the grant program. We simply make recommendations to the sponsors of the grant program on quality grant applications. You are also free to apply directly on the Solana Foundation website for a grant.

Relevant Links

1. Finternet Whitepaper
2. Keynote by Nandan Nilekani
3. Fireside chat between Agustín Carstens, Bank of International Settlements & Sid Shetty, India Stack.
4. Website
5. Github

How it Works

1. Submit the application form on Superteam Earn (5 minutes).
2. The grantor team does its best to respond within ~72 hours.
3. If approved, you'll receive an email notification for onboarding and further steps.
4. Update the community once a week on your progress.
5. As you achieve your self-described milestones, receive the rest of your funding.
6. Submit finished work for feedback, review, and distribution.

Guidelines

1. Be Concise: Being clear and concise is always helpful.
2. Build what the ecosystem needs. Include information on how your project can help further the Finternet’s vision. 
3. Open Source: Ideally, projects should be open-sourced under a permissive license like Apache 2.0 or MIT."

Frequently asked questions

• Who is eligible to apply for an Instagrant?
• Anyone with proof of work can apply!

• How fast is "Instant"?
• We try our best to get you a decision within 72 hours.

• What criteria will the panelists use to evaluate grants?
• We prefer projects that 1) yield results quickly and 2) are executable by the Proposing team.

• What conditions apply?
• The only condition is that you keep the community updated on a regular basis as your project progresses.

• What is the philosophy behind the Instagrants program?
• Proof of Work > Credentials. Anyone is welcome to apply for Instagrants, given they have enough Proof of Work to make the review committee believe the work will get done.
• Speed > Perfection. We want to give grants rapidly. Not perfectly. We trust people to get work done.
• Believers > Consensus. As long as a minimum quorum of the reviewing committee believes it's a good use of funds, we will fund it

• Will I receive feedback on my proposal if it is rejected?
• Unfortunately, our sponsors do not have the ability to provide individualized feedback at this time.

Have a question that isn't answered here? Drop an email to support@superteam.fun for help.