GRINDERY – SIMPLIFY YOUR WEB3 WALLET EXPERIENCE

I. Grindery Overview

Why was Grindery created?

The birth of Grindery stemmed from the current era where decentralized systems like blockchain are becoming pivotal for economic and societal advancement. These systems not only bring transparency and security but also foster new business opportunities.

Issues such as data privacy, security, and transparency are driving users and businesses towards decentralized systems, where they have more control and lower transaction costs.

Predictions about the future number of blockchains vary, but there’s consensus that there will be more, serving diverse industries and specific applications. This creates a competitive environment among different blockchains, driving innovation and offering users and businesses a wide array of choices.

Thus, Grindery was born to provide a wallet solution for users to access blockchain technology, while also enabling those unfamiliar with Web3 to easily use crypto wallets.

What is Grindery Wallet?

Grindery Wallet is the flagship product of the project operating in the realm of smart wallets designed specifically for Telegram’s 800 million users. This innovative wallet supports EVM blockchains like Ethereum, Polygon, and Binance Chain, offering gasless transactions and seamless transfers.

Unlike the default Telegram Wallet of TON, Grindery.ai allows for broader blockchain interaction and is aiming for full self-custody by Q1 2024, ensuring security and ease of use.

Users can send cryptocurrencies using real names and converse in natural language. Future expansions will include integrated DeFi, advanced web3 bots, support for multiple blockchains, and complete decentralization.

Key Features:

• Unlock Setting: Easily access cryptocurrencies without the need for recovery phrases or private keys.
• Gas-Free Transactions: No need to worry about gas fees for every blockchain activity.
• No-Setup Transfers: Send cryptocurrencies as easily as sending a text message, without needing to set up the recipient’s wallet.
• Social Address Book: Use real names for transactions, enhancing transparency and trust.
• Natural Language Chat: Interact with your wallet through chat or via the web app.
• EVM Compatibility: The first Telegram wallet supporting multiple EVM blockchains.
• Creative Automation: Utilize web3 bots for trading, swapping, and exploring DeFi. (Coming soon!)
• DeFi Integration: Participate in token trading, swapping, conversion, and staking. (Coming soon!)
• Multi-Blockchain Support: Access multiple chains and tokens, paving the way for complete decentralization. (Coming soon!)
• Expanded Currency Options: Enable exchange, buying, and trading with credit cards. (Coming soon!)
• Fully Decentralized: Transition to a fully decentralized system, without the need for complete trust. (Coming soon!)

Other Products by Grindery

The Grindery wallet serves as the foundation for various features and other products in its development roadmap. However, Grindery also offers two other notable products:

Commerce Platform

Grindery’s smart wallet isn’t just a breakthrough for individual users but also for e-commerce: DApps, protocols, and online stores. The wallet enables e-commerce platforms to accept cryptocurrency payments with just a click for a variety of products, from NFTs to physical items, through Telegram Bots and Mini-dapps. This integration marks a significant step towards making cryptocurrency widely accepted as a payment method globally.

By leveraging its advanced automation infrastructure, Grindery empowers these e-commerce platforms to create user-friendly interfaces, facilitating cryptocurrency payments for businesses of all sizes and ensuring smooth, secure transaction experiences for their customers.

Payment Network

Grindery’s primary advantage for e-commerce lies not only in its technology but also in its growing user network. Similar to how credit cards make transactions easier at stores and restaurants, Grindery streamlines payments, creating seamless connections between users and e-commerce. As more users join with loaded wallets, e-commerce platforms have more incentive to provide their services on the platform. The interaction between increasing user numbers and these commercial services amplifies the network’s value for all participants.

This phenomenon, known as the network effect, not only drives growth but also establishes formidable entry barriers for competing technologies.

II. Outstanding Achievements

• 25,000 Orders placed in the pre-sale phase in January 2024.
• 700,000 Users joined the user base (in less than 6 months).
• 3.5 million P2P transactions (since the launch in September 2023).
• Leading the ecosystem: Holding 75% market share of Account Abstraction transactions in Q3 ~ Q4 2023.
• Leading in Account Abstraction on Polygon (2023) acknowledged in Alchemy’s Annual Report.

III. Revenue Model of Grindery

A sustainable revenue model is crucial for the long-term viability of any platform. Grindery’s revenue model is designed to support the continuous development of the platform while creating a sustainable tokenomics structure.

Primary Revenue Sources

Grindery generates revenue through a combination of transaction fees and strategic partnerships:

• Transaction Fees: Users pay a small fee for transactions processed through the Grindery wallet. These fees are competitive and designed to be lower for those using GX tokens, thus encouraging the use of the platform’s native token.
• Strategic Partnerships: Revenue-sharing agreements with on-ramp and DeFi partners contribute to the platform’s income. These partners are selected to enhance the user experience and expand the range of services offered within the Grindery ecosystem.
• E-commerce & dApp: As an economic platform facilitating payments via Telegram, services are provided to easily set up and manage chat-based stores and services, with transaction fees helping e-commerce ventures get started effortlessly.

Innovative Revenue Features

Grindery’s revenue model also includes innovative features that differentiate it from other platforms:

• Token Gas Utility: GX tokens serve as a versatile gas token within the Grindery wallet, simplifying the user experience across multiple blockchains and driving demand for the token.
• Fee Reduction for GX Token Use: Users benefit from reduced transaction fees when using GX tokens, incentivizing the adoption and circulation of the native token within the ecosystem.
• Marketing Partnerships: A large community and direct access provide excellent opportunities for marketing partners, such as direct access for dApps to their Telegram users, as Grindery is one of the first wallets with direct access to their users via Telegram.

Revenue Allocation

The revenue generated by Grindery is allocated to ensure the platform’s development and sustainability:

• A portion of the revenue is reinvested into platform development, sponsoring new features, and improvements.
• Another portion is distributed to those staking GX tokens as rewards for their active participation, aligning their interests with the platform’s success and encouraging long-term holding.
• The remaining revenue supports ongoing operational costs, marketing efforts, and community initiatives.

Future Revenue Opportunities

As Grindery continues to grow and evolve, there are opportunities to expand the revenue model:

• New Services and Features: Introducing new wallet features and financial services could create additional revenue streams.
• User Base Expansion: With more users joining the platform and engaging in transactions, revenue from expected fees will increase.
• Ecosystem Expansion: Developing new partnerships and integrating with other platforms could lead to further revenue-sharing opportunities. Grindery’s direct user access and simplified interaction model build an excellent platform for dApps and other chains to interact with the Grindery community.

IV. Tokenomics

Basic Information

The Grindery ecosystem consists of two main tokens:

Token G1:

• SocialFi Token (Social Finance)
• Rewards users for community participation (referrals, network development)
• Unlocks rewards, event access, and community-driven benefits

Token GX:

• Utility token of the ecosystem
• Enables gasless transactions across multiple blockchains
• Streamlines operations within the Grindery wallet
• Aids users in managing transactions and participating in decentralized web.

Both G1 and GX tokens play crucial roles in the tokenomics of Grindery:

• Driving user engagement
• Streamlining transactions
• Contributing to the development of a positive and efficient community

Details about the Grindery X (GX) token:

• Name: Grindery X (GX)
• Total supply: 1,000,000,000 (Fixed supply)
• Token standard: ERC20
• Blockchains: Ethereum & Polygon
• Ethereum Contract: 0x8730762Cad4a27816A467fAc54e3dd1E2e9617A1
• Polygon Contract: 0x8730762Cad4a27816A467fAc54e3dd1E2e9617A1

Details about the G1 token

• Name: G1
• Total supply: no fixed supply, being adjusted by DAO
• Monetary policy: changes depending on incentives, supported by $GX.
• Blockchain: Polygon

Token Allocation & Vesting của GX

The total supply of GX token is 1,000,000,000

• Founders: 50,000,000
• Core Team: 50,000,000
• Advisory/Extended team: 100,000,000
• Angel: 20,000,000
• Pre-Seed (Binance): 80,000,000
• Seed: 50,000,000
• Treasury: 200,000,000
• Community: 240,000,000
• Staking-Lending: 100,000,000
• DEX Liquidity: 50,000,000
• Community-Sale 1: 10,000,000
• Community-Sale 2: 40,000,000
• IDO: 10,000,000

Token Sale

Community Sale 2 Round

• Price: $0.049
• FDV: $49M
• Vesting: 8% at IDO (TGE), cliff for 3 months, unlock in 12 months.

Upcoming Plan

• July/2024: IDO
• August/2024: Listing token

Market cap of the Final Round (IDO)

• Price: $0.13 – $0.2
• FVD: $130,000,000 – $200,000,000
• Initial market cap: $2,522,000 – $3,880,000

Token Use Case

Token G1: Driving Participation

The primary utility of token G1 is to incentivize user engagement and expand the network. It’s used to reward users for various activities within the Grindery ecosystem, such as:

• Registering a Grindery wallet.
• Referring new users to the platform.
• Holding and Staking G1 for continuous rewards within the Grindery ecosystem and its partners.
• Accessing exclusive rewards and benefits through the Grindery Wallet.
• Exclusive access to campaigns or events with partner perks reserved for locked G1 holders and exclusive contests.
• Whitelist access to the best new Web3 protocols and games.
• Lock-up for early access to GX tokens.

Token G1 acts as a catalyst for development, encouraging users to contribute to the platform’s vibrancy and outreach.

Token GX: Streamlining Transactions & Simplifying

GX token, soon to be launched, will serve as the primary method for transactional activities within the Grindery wallet. Its utilities include:

• Paying gas fees and transaction fees across all supported blockchains, simplifying user experience by providing a single token for all transaction-related costs across all blockchains.
• Users actively contributing to platform security and stability through governance participation and staking will be eligible to receive a portion of revenue.
• Providing governance rights, allowing token holders to participate in decision-making processes and influence the future direction of the Grindery ecosystem.

V. Team & Advisors

Grindery is a company supported by Binance Labs Season 4, boasting a highly experienced team and a product highly regarded by the market. Grindery’s co-founders include Tim Delhaes, who brings experience in developing blockchain projects and products such as gPay and Flow, as well as researching decentralized automation and multi-chain protocols. When Grindery joined Binance Labs in 2022, Marc Dangeard, Christian Geissendoerfer, and Thinh Porrman also joined as co-founders of the project.

• Tim Delhaes (Founder & CEO)

A serial entrepreneur with a track record of founding, building, selling, and occasionally failing at startups across South America and Silicon Valley. Over the past eight years, Tim has led Inboundlabs, growing it from a three-person team into a leading HubSpot partner with over 500 clients.

• Thinh Porrmann (Investor & Co-Founder)

Experienced in Investment Banking and Private Equity. Previously co-founded the largest luxury fashion e-commerce platform in Vietnam. Educated at the London Business School, EBS Business School, and Singapore Management University.

• Egor Milyukov (Lead Dev)

A full-stack developer with 11 years of experience. Egor has been collaborating with Tim and the Grindery team since 2019, focusing more on front-end development for Grindery’s integrations in recent months.

• Thomas Coratger (Blockchain Development & Research)

Ph.D. in Computational Physics and a lecturer on the theoretical and applied aspects of blockchain at Sup de Vinci – a computer science institute.

• Mauricio Jr (Blockchain Engineer)

A full-stack developer with nine years of experience in fintech in South America, transitioning into the web3 ecosystem in recent years.

• Hussain Zulfiqar (Marketing Director)

Founder of a leading marketing agency specializing in Web3, Crypto, and AI, with expertise in growth marketing for over 50 VC-backed startups.

• Leonardo Iker de Souza (Community Lead & Automation Consultant)

A seasoned HubSpot consultant with over 6 years of experience. Expert in designing Automation Flows on Zapier.

• Gilberto Giménez (Business Development & Partnership Relations)

Holds degrees in Law and Finance. Previously collaborated with internet and telecommunications retail companies in South America to integrate cryptocurrency payment options into their business models.

• Helder Vilela (Blockchain Software Engineer)

A seasoned Web Full Stack developer and UI/UX designer from Portugal, with notable clients including MEO, Honda, and Microsoft. Extensive experience as a Blockchain Software Engineer at Morningstar Ventures.

• Christoph Richter (Advisor)

With 20 years as a programmer and a decade as a CTO, Christoph has successfully guided two exit deals. Over the past 5 years, he has immersed himself in blockchain, advising over 300 founders.

• Yuri Dekovic (UI/UX Design)

With over a decade of experience in UI/UX design and a background in music and programming, I specialize in web3 technologies. Currently based in Berlin, I’m proficient in Figma, animation, and social media advertising, leveraging AI to enhance workflow efficiency.

VI. Backers & Partners

Grindery is a project backed by Binance Labs in its fourth season. Additionally, the project has received investment from COINKO, Jsquare Capital, ANKR, IDG Capital, Perridon Ventures, MH Ventures, FishDAO, WW Ventures, Gate Labs, KondrDAO, MarsDAO, Blackdragon, etc.

Grindery’s partners include: SAFE, Li.FI, ENSO Finance, Patchwallet, Pimlico, Moonpay.

Grindery has partnered with MoonPay to make it easy for users to buy and sell crypto with fiat currency, also known as On-ramp/Off-ramp solutions.

VII. Roadmap

Grindery Wallet

• Reaching 2 million users through IDO in July 2024.
• Unveiling social features and additional wallet functionalities.

E-commerce platform

• Web3 bot automation platform with over 10 tested chains ready for deployment.
• Purchase Web3 assets with just a click within your messaging app.
• Interact with dApps/protocols on the EVM Chain to initiate transactions.

SuperApp payment platform

• Grindery simplifies payments, fostering seamless connections between users and sellers.

Grindery’s goal for 2024 is to rank in the top 3 in three areas related to wallets:

• Non-custodial Crypto Wallets
• Telegram Bot Wallets
• Account Abstraction Wallets

VIII. Overall

• Large Target Market: Grindery targets the massive user base of Telegram, a messaging app with over 800 million users. By providing a user-friendly wallet with features like unlocked settings, gas-free transactions, and a Social Address Book, Grindery could attract a significant portion of these users into the world of cryptocurrency.
• Account Abstraction can simplify the user experience, enhance security, improve scalability, and drive innovation in the blockchain space.
• Network Effect: As more users join Grindery, the platform becomes more valuable for both users and e-commerce. This network effect could lead to rapid growth and adoption.
• First Mover Advantage: Grindery is one of the first smart wallets designed specifically for Telegram. This first mover advantage could give them a significant edge in the market.
• Innovation: Grindery offers some innovative features, such as support for multiple blockchains, DeFi integration, and a focus on ease of use. These features could make Grindery a more attractive choice for users compared to other wallets.
• Strong Team: The Grindery team has experience developing blockchain projects and appears to be well-funded. This indicates they have the resources and expertise to succeed.