Blockchain Crowdfunding Helps Students Fund Projects
Orlando, Florida Apr 18, 2021 (Issuewire.com) – A new e-learning platform for entrepreneurs has been under development since September 2020 poised to be the #1 source of low-cost, subscription-based entrepreneurial education with a graduation gift of a funded project through the OOMI protocol, a new DeFi token developed for its students.
After the treacherous summer of shut-ins and closed businesses in 2020, founder Tene Williams went to work on a platform to help homebound, unemployed and idol folks worldwide find one source to get the How-Tos they need to generate an income for their families. Levelupadvisors.com offers courses for start-up businesses looking to learn how to take a business from incorporation to management, branding, the latest in social media advertising and marketing to e-commerce platforms like Amazon and Shopify in a step-by-step process designed to avoid the traditional pitfalls of business. While limiting failure due to the old adage “you simply didn’t know what you didn’t know you needed to know” which is the typical reason for failing your way to the top. The platform prepares entrepreneurs for traditional business funding and there’s even a course to train students on how to raise equity. It’s the MBA program for Entrepreneurial Education.
The platform also offers specialized courses in real estate investing, Forex, Futures, Stock and Cryptocurrency introduction and trading courses. As well as wealth management courses developed by a variety of staffed and independent Advisors.
Co-Founder Anthony Avent, Instructs the Cryptocurrency for Beginners Course
Retired NBA Superstar Anthony Avent, Phenola Casserta to NBA 1991-2001 joined the team to follow his passion of instructing the community on cryptocurrency.
The platform wasn’t complete unless the students had a way to fund their dreams and scaling needs. “We knew that many businesses had to re-organize and re-capitalize their business and may have credit issues after the shutdown adding many small business owners to the long list of the unbanked, so we considered creating a crowdfunding platform that would be funded by the students” ~Tene Williams, Co-Founder.
OOMI Protocol Fixes Crowdfunding
Levelup Advisors US LLC has established a strategic partnership with the OOMI DAO, a foundation created to act as a blockchain-based decentralized finance crowdfunding protocol governed by token holders. One of the biggest challenges with crowdfunding today on platforms like Indegogo.com or seedinvest.com is that a business has to wait for investors to ‘like” their project or the business owner has to be good at pandering their posted project to their friends and family to raise money. The answer was simple, why can’t each student fund each other’s projects?
In November 2020, the founders took a long look at how decentralized finance applications were able to be utilized for crowdfunding. Taking a note from projects like Smartlands.io, Gitcoin.co. In an article posted on Blockchain Pulse: IBM Blockchain Blog, “At the core of the idea, the automation and decentralization of blockchain technology can assist in returning the authority and decision-making power connected to the project to the entrepreneur instead of delegating those to the capital providers.”
After reviewing options in blockchain technology to build the protocol, the team settled on creating a token on the Stellar Network for its ability to process 1000 transactions per second at a low validation cost averaging .0001 XLM. In stark contrast to that of Ethereum which averages a few dollars per transaction at an average speed of 80 transactions every 3 minutes. The team also considered Polkadot and Cardano, however, with these projects still in development, the OOMI project would have to wait.
Students collateralize their projects by purchasing OOMI tokens with XLM. The OOMI token is currently only available on Lobstr, a Stellar wallet. Three different liquidity pools are created for business funding of each student according to their collateralization and completion of the 10-level course which takes anywhere a minimum of 3-10 weeks to finish the course material and receive the equivalent of 40k USDC, 100k USDC, or 250k USDC funded by their fellow students.
The development team made a boo-boo in the beginning and registered the OMI token on January 21st on the Stellar network which later had to be changed to the OOMI token in March 2021 so as not to compete with the ticker symbol for ECOMI, an NFT project developed on the Ethereum platform. The setback was a big one, however, the development of the smart contract for the OOMI Protocol is underway.
The token was launched with a fixed 44,400,000 tokens that will be utilized by students of levelupadvisors.com for start-up funding and business scaling projects. The protocol is a nonprofit organization governed by students holding 7,000 OOMI tokens or more. Although Stellar already possessed the technology to create a crowdfunding platform through a Stellar Smart Contract that utilizes a multi-signature process to create a restrictive liquidity pool for students; the announcement on February 25th, 2021, via the official Twitter handle of Flare Networks to include Stellar will add additional smart contract use cases and DeFi (Decentralized Finance) scalability to the OOMI token.
Flare will integrate Stellar Lumens (XLM) as an F-Asset, bringing more components of decentralization to Stellar to build a united ecosystem. Wyre is now a USDC anchor which will help the OOMI development team to build seamlessly on the Stellar network once it launched supporting over 25 more use cases on the network.
Wyre also announced that it will act as a banking-as-a-service provider, providing companies with an API to interact with the Stellar network and use the USDC stable coin in a very short time. This development is important to the OOMI protocol to create a DOA for its student governance. OOMI token holders are considering Aragon to organize its voting procedures. With Stellar on Flare, integrating to Ethereum for governance is expected to be seamless.
Only 500k OOMI has been released for purchase by students on the exchange with the balance currently held in reserves. As the token gains adoption, a portion of tokens will be held for advertising marketing and development.
LevelUp Advisors US LLC
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Source :LevelUp Advisors US LLC
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