[VOTE CLOSED myCoinvest] - a financial savings ecosystem powered by the NEM blockchain


#1

VOTING IS NOW OPEN for the myCoinvest PROPOSAL. Please show your support by participating in the vote. Scroll down for links to Full Proposal. Thanks!

To Vote YES
send 0 XEM to: NDNETT-57K3JY-7PGKJY-RS3DP7-GUFSKK-HMRUOD-JPX6

To Vote NO
send 0 XEM to: NCDLV3-GKAANX-Y5RPIR-CL4WMA-EOC5YO-QRGNCK-K2DX

Hi Nembers,

The team at myCoinvest have worked hard over the past year and are excited to bring to you a revolutionary financial savings ecosystem powered by the NEM blockchain.

Based out of Atlanta, GA we are currently in the alpha testing phase for our mobile solution on android and iOS. Our goal is to help push for widespread adoption of NEM in the U.S.A. as users are encouraged to exchange and interact peer-to-peer on our blockchain ecosystem.

Vezcoin (CVZ) will be the primary mechanism of value exchange on our platform and can be searched using NEM’s blockchain explorer.

NEM Mosiac: coinvest:vezcoin

Click on any link below to view full proposal:
—> English
—> Spanish
—> Japanese
—> Vietnamese
—> Ukrainian
—> Chinese
—> Korean
—> German

Telegram Chat: @mycoinvest

NEM Community Fund Proposal

Introduction
myCoinvest is an investment company working to perfect a life-changing financial solution. We offer a simple to use automatic blockchain based savings ecosystem. This ecosystem will allow users to grow wealth, achieve goals and redeem points with other users on the platform.
The project goal is to provide a financial savings solution to consumers with multiple ways to grow wealth and reach financial goals. myCoinvest is developing a 3-tier ecosystem that will offer users a more convenient way to save.

  • Saving Goals - Automated debit card transaction rounding
  • Vezpal Network - User benefits from recruiting others into the network
  • Vezclub Marketplace – Value and Asset exchange

Over 60 percent of Americans have little to no savings, meaning most Americans are grossly unprepared to finance small, unexpected emergencies. Although this staggering statistic is based on a North American study, this problem is not exclusive to US citizens; it is a global problem.
Over the past year, our team has worked to design, create, and implement an end-to-end solution that will help people save, while living their everyday lives. We have continuously dedicated both time and money to bring this idea to life. We have also made a conscious effort to develop a tangible product prior to requesting funding from the NEM community.

—> myCoinvest Introduction Video

Vision
myCoinvest strives to be an easy-to-use, low-risk savings platform that allows people to conveniently and safely invest in crypto assets while helping to reach financial goals.

Why NEM?
We chose the NEM blockchain because of its security, scalability, out-of-box services along with it’s ease of use. NEM’s built-in mosaic and multi-sig features will power the myCoinvest ecosystem and create an efficient and seamless experience for users. With NEM API libraries, our custom wallet application and internal exchange platform can quickly move to production giving us more time to focus on the financial services and education to our consumers. The NEM + myCoinvest collaboration will enable us to influence financial literacy and future preparation around the world.
NEM_plus_myCoinvest_pic

Problems:

  • Financial illiteracy is a huge problem for people around the globe for various reasons. Studies show that only 24 percent of millennials demonstrate basic financial literacy. - National Endowment for Financial Education. This is a major concern because “Millennials” are the evolving leaders of the world to come. If we do not educate and create better habits now, we will continue this vicious cycle.

  • Surprisingly enough, data obtained from the same sample shows that 69 percent of millennials ranked themselves as having a high-level of financial literacy. If this is true, we have an obligation to bring knowledge and awareness to the topic. “Millennials” are the evolving leaders of the world to come. If we do not help educate and create better habits now, this cycle will only continue. Initiating a good savings plan early can be the difference between retiring with financial wellness, and dying as part of the working force.


    Figure 1. Bankrate’s Financial Security Index, May-4-7 2017
    https://www.cnbc.com/2017/05/23/not-saving-for-retirement-tops-americans-greatest-regrets.html

  • Contrary to popular belief, traditional savings accounts sometimes do more harm than good. While they offer security for your funds, as well as liquidity, traditional savings accounts come with significant costs. In exchange for the freedom to pull funds out on a whim, savings accounts can burden consumers with low return rates, hidden fees and surprise penalties. Opportunity costs presents another issue when keeping cash in a traditional savings account. Between minimum balances, withdrawal limits, and banking hours - users may be confined when an opportunity presents itself.

  • As much as $41 billion in gift-card value has gone unused since 2005, says research firm TowerGroup. Once you add on hotel and airline points, that number is at least double. Tapping into this “frozen money” can directly increase our users’ disposable income, which will allow more saving. Our goal is to make these points and gift card balances a tool to create more saving opportunities for our users.

Solution
Our simple and easy-to-use platform is made up of 3 major functions:

Automatic Savings
myCoinvest’s primary function is to help people save more money overall; earning interests at rates higher than traditional financial institutions. To achieve this, we implemented the “micro-saving” model, which is the ability to put money away in smaller quantities, so that it becomes a way of life. To make it more tangible we offer a goals-based system, where we encourage users to create short or long-term goals that they can see and be motivated by its progress.

myCoinvest uses an array of tools to monitor a user’s bank account information and make small deposits. Every transaction made with a user’s bank account will be rounded to the nearest dollar, and the ‘excess change’ will be deposited into the user’s myCoinvest savings account.

Once per week, we compile all deposits, initiate a withdrawal and invest in cryptocurrencies.

Our automated system grants short term peer-to-peer margin loans to crypto traders on major exchanges. Loans are issued for lengths of 2 to 30 days, and are always secured with collateral. Adequate collateral must be deposited by every trader receiving a loan, greatly reducing risk for the borrower - the myCoinvest community!

To date, this method has been very successful, supplying 7-15% in annual returns. myCoinvest updates and disperses daily gains to users with a savings balance. These gains are able to be withdrawn at any time or be compounded into the interest of one’s savings account

Your investment is SAFE; all funds are secured and insured by myCoinvest along with our PCI compliant vendors. You will have:

  • 24/7 access to your account
  • Inherent security through the blockchain. 80% on chain 20% Liquid
  • Freedom to withdraw your money at any time

Our solution instills convenience, reassurance, and versatility for the less experienced investor. When people are saving in increments less than $1, it takes away the unnecessary stress of putting money away manually and encourages long term financial wellbeing. We don’t expect this to be the only way people save, but it will provide an additional avenue to help people get started or boost their current financial situation.

An integral part of the myCoinvest platform and the gateway to automatic savings is the SMART Savings Wallet. The wallet is designed for all level of users to quickly create a myCoinvest savings account and start saving!

Available on Android and iOS, the wallet will allow you to:

  1. Add a checking account for micro-savings withdrawals
  2. Set short-term and long-term goals
  3. Track your savings history
  4. Build your Vezpal network
  5. Invest in cryptocurrency
  6. Send and receive value through Vezcoins (CVZ)

CVZ is be the primary method of value transfer for the platform

Vezcoin [CVZ]
The power of myCoinvest is greatly expanded through the use of our NEM mosaic, levy-free, and immutable.

  1. With a hard cap of 1 billion coins, CVZ is a deflationary currency. Users may choose to convert their fiat deposits to CVZ, and potentially boost their savings further, as the myCoinvest ecosystem matures.
  2. Can quickly transmit large payments with small fees - paid in XEM.
  3. Ability to withdraw CVZ to exchanges and trade for other cryptocurrencies, granting myCoinvest the ability to compete with current dominant gateways to crypto trading.
  4. Capability to quickly convert CVZ to fiat, and withdraw to your bank account - right within the smartphone app!
  5. With the future catapult implementation, CVZ use cases can be expanded exponentially.

VezPal Network

At myCoinvest our desire is to “share the wealth” and we want our users to do the same. We’ve come up with a incentivized referral program where users can invite others to their Vezpal Network and earn income based on the network’s weekly savings transaction activity. Made available through the SMART Savings Wallet, this program will allows users to save more, reach goals faster, and benefit everyone involved. You can think of this program as the “engine” that will drive our growth, as we accelerate towards global expansion.


—>VezPal Recruiting Video

VezClub Marketplace

VezClub_Marketplace_Pic
Introducing the first ever peer-to-peer exchange that will allow users to convert reward points and gift cards into cryptocurrencies! The Vezclub Marketplace will unlock new ways for users to grow income while helping each other fulfill their savings goals. A rewards or card holder can browse a list of orders from users who have achieved a savings goal. Once an order is found with an applicable reward system, the item will be ordered on the saver’s behalf and get shipped directly in exchange for Vezcoins (CVZ)! All information will be exchanged anonymously using smart contracts to ensure all orders have the utmost confidence for a trustworthy transaction.

Available on both mobile and web, the Vezclub Marketplace will also allow users to exchange fiat to cryptocurrencies such as BTC, LTC, ETH, as well as XEM and CVZ. This platform will make myCoinvest the first US-based exchange to accept tokens on the NEM blockchain.

Savings on Demand
To provide even more convenience we also offer a Savings on Demand (SoD) feature in the Vezclub Marketplace that gives you the ability to specify a discounted price for the product you list. Another user can honor the listed product by paying the full price in exchange for CVZ valued at the discounted price listed. This allows the lister of the product to save even more money while still providing opportunities for other users to exchange unused rewards or gift cards for CVZ.

—> VezClub Marketplace

Governance Token
Another NEM mosaic that will only be available through the Vezclub Marketplace is the Vezcoin Token (CVZT). This is our governance token that allows for community democracy. Holders will be able to vote on proposed projects / funding, and participate in local or regional polls. CVZT will also provide quarterly bonuses from the network fees acquired through user transactions on the platform.

myCoinvest Initiatives
myCoinvest_Initiatives_pic
In efforts to create a true utility token, and avoid any legal ramifications from the United States SEC, and CFTC myCoinvest will be distributing our CVZ freely around the world through the means of Vez Tasks ,which are community tasks that will help build the network. We plan to run this distribution from April until October as we build anticipation for the myCoinvest Go-Live, or the first day of production for our Vezclub Marketplace! During this time, the myCoinvest team will rigorously test and work on perfecting the ecosystem, while releasing periodic updates to the nem community to show continual progress.
Our hope is that supply and demand takes over and sustains the future of Vezcoin and our community supporters are rewarded for their efforts.

—> VezTask

Example:
Receive free CVZ for tracking our progress through our agile project management: https://mycoinvest.atlassian.net/

Plan of growth for the NEM community:
Our network will be broken down into 6 main categories (ref white paper) with Partners and Ambassadors comprising of our top tier users. Our plan is to leverage these top tier individuals to first focus on promoting the advancement of blockchain technology and secondly the progress of the myCoinvest ecosystem. We have already begun this initiative, and have started to host monthly meetups to promote growth and bring awareness.

Here’s what we’re planning as we look to continue our outreach:

Ambassadors: Regional reps, used to promote the local awareness for NEM and myCoinvest. Acts as the local intermediary between network users, and the myCoinvest foundation.

Currently our ambassadors are planning to host NEM 101 meetups in:

Atlanta, GA | Columbia, SC | Norfolk, VA | Detroit, MI | Bloomington,IN | San Fernando, CA | Savannah, GA| Baton Rouge, LA

Ambassador_Locations_Map

Vez Partners: The highest level in our network will be paid bonus CVZ for community outreach projects.

College Outreach
● Regional College Tours (April/May)
● Ongoing Community Training
● myCoinvest Onboarding and Adoption
● Targeted Internships (July-Oct)

High School Outreach
● High School Blockchain/NEM Lessons (May)
● Blockchain Coding Classes (May)

Why invest in myCoinvest?
Through a successful integration with myCoinvest, the NEM community will benefit from an increase of exposure to North American markets, resulting in higher demand for XEM as it is used to process the daily exchange of Vezcoin (CVZ) through our ecosystem. The platform will also be the first US-based exchange to accept NEM mosaics; XEM, CVZ, and CVZT. This will create a stunningly elegant and efficient use case to attract future projects to use and adopt the NEM blockchain, and to partner with myCoinvest as we bring cryptocurrency into the lives of all users through the financial industry.

Funding:
Based on the recommendation from the NEM Foundation, we would like to include a cap on our total funding amount on our proposal. We are asking for 6,000,000 XEMs or USD 1.32 M.

We are raising 6,000,000XEMs for:

Milestones:
Milestone 1: Project kickstart (25% 1,500,000 xem or $330,000)

  1. Complete Alpha Testing
  2. App (iOS & Android) (US domestic)
  3. Complete VezClub Mockup
  4. Strategy for Global expansion
  5. Community Building - Marketing/Outreach
  6. Legal Foundation Establishment

Milestone 2: (25% 1,500,000 xem or $330,000)

  1. Start Beta Testing
  2. 1 Ecosystem Partner
  3. Develop community task workflow/system
  4. Community Building - Marketing/Outreach
  5. Legal fees

Milestone 3: (10% 600,000 xem or $132,000)

  1. Testing – Collecting data and generating reports
  2. Legal Fees – Fincen + Lawyer
  3. Community building - Marketing/Outreach

Milestone 4: (25% 1,500,000 xem or $330,000)

  1. Go live
  2. Infrastructure Upgrade
  3. Community Building - Marketing/Outreach
  4. Continuous Improvement
  5. Legal Fees

Milestone 5: (15% 900,000 xem or $198,000)

  1. Start development on Version 2
  2. Sustainability Analysis
  3. First quarterly report – community released
  4. Marketing
  5. Legal fees

Business Model
Revenue Streams

  • Network fee sign up: Optional one-time fee to be paid if user desires to enter the CVZ ecosystem. Otherwise, users will have standard access to automated savings services and goal creation features of the mobile app.
  • Subscription fee: Monthly $1 subscription for Savings on Demand
  • Marketplace fees: 1% of every transaction or exchange (Convert, Redeem)
  • Loans Interest: Market interest rates received from exchange liquidity

Looking forward:
The myCoinvest team plans to expand our ecosystem by creating secure, easy-to-use API integration points. Developers around the world will be able to build and contribute to our ecosystem, creating an even larger footprint within the financial blockchain space. From our aggregated data, we will be able to provide a tremendous amount of insight when it comes to consumer habits. And as our platform and services improve, we will also open up acceptance of other fiats for exchange including Euro, Rupee, Yen, and Yuan.

Potential Use Cases:
Predictive analysis - Consumer trends (Spending API)
Augmented reality Incentives (Network API)
Group savings - (User API)

Our Team

Corey_Patterson_Bitmoji
Corey Patterson - CEO
“Hi Nem Community!”

Im Corey Patterson the Founder and CEO of myCoinvest. Professionally, I’m a SAP Supply Chain Consultant, with numerous years of IT and business consulting experience. Working on different projects involving enterprise implementations, I feel that NEM is more than equipped with easy-to-use, out-of-the box functionality needed for widespread business adoption. Leaning on the NEM community for support, our team has worked hard over the past year to bring our saving solution to users globally. We are very excited to be in a position to help shape and influence the world as they realize the power of NEM Blockchain tech.

Ahkeem_Taylor_bitmoji
Ahkeem Taylor - COO

My name is Ahkeem Taylor also known as AJ. I currently work in IT Consulting specializing in security risk management. I’ve been super active in crypto for almost 2 years now and I’m super excited for the future to come. I am a Co founder of myCoinvest, representing the company as the COO working diligently to build out this life changing solution. I also enjoy my fair share of adrenaline which normally includes; jumping from airplanes, nice cars and motorcycles.

Shaquille_Fontenot_BitMoji
Shaquille Fontenot - Director of Marketing

My name is Shaquille Fontenot. I am a strategic marketing director with a penchant for systems thinking, or seeing how each aspect of a business or organization connects to another. I elected to work with the myCoinvest team because of the tremendous opportunity to share innovative technology and systems with the entire world. I’ve worked with big name companies like Comcast Business, Spectrum Business, and Vonage Business to bring new solutions to the forefront of the telecommunications and IT industries. I know that our community of users will help us shape the future of blockchain applications.

Alvin_Marquez_Bitmoji
Alvin Marquez - Advisor (NEMber)
“Hey Hey NEMbers!”

My name is Alvin Marquez. I am an IT enthusiast with an excitement for learning new technologies and being a part of upcoming innovations. From tinkering with custom gaming desktops to now engineering Enterprise solutions with world-wide impact, I have always strived to be a part of something big. Blockchain is the next big thing and NEM is surely in the ranks for Business Enterprise adoption. I am an advisor to the myCoinvest team because I believe the company and its services will bring a clear understanding of how blockchain can improve all industries and provide a more efficient service for consumers. I invite all to come and be part of NEM and myCoinvest as blockchain is introduced to more users around the world.

Agile Scrum Project Management:
Track our progress


#2

Are you planning to sell Vezcoin [CVZ]?


#3

No plans for ICO. However, Vezcoin can be purchased on the Vezclub Marketplace when it goes live, and at other external exchange/trading platforms when listed. Currently, Vezcoins are being distributed via Veztasks that are listed at www.mycoinvest.tech/jobs. This is the “Utility in Community” effort to provide opportunities for users to help build ecosystem and make it better. It’s a financial savings solution for ALL USERS.

The value of Vezcoins will be determined by the market and its use within the platform.


#4

Can you detail how to use? If its a savings solutions does that mean it will function like a bank?


#5

Here’s a complete overview of the current functionality. Yes, myCoinvest operates as an investment platform. https://youtu.be/H2ngNKX8brc


#6

will I always be able to withdraw funds from here?


#7

Yes. The automated system uses an algorithm to ensure there is always enough fiat available for daily withdrawals. In the unlikely event of a there being a surge of withdrawals, exceeding the algorithmic prediction, assets would be liquidated to fulfill the volume and maintain a fiat reserve.


#8

Is CVZ can be mined? And if you dont have plan to sell it , how the public can avail for it to utilize?


#9

CVZ cannot be mined, and there is no ICO.
Right now you can earn it by participating in community tasks. https://www.mycoinvest.tech/network-building/
Also, some members of the NEM community are trading it on nemchange.com


#10

The myCoinvest ecosystem is on 24/7. The money you autosave via your SMART wallet and linked checking account is always yours. You can decide to withdraw your fiat back to your personal bank at any time. The simple setting of a savings goal, and the automated micro-savings of your everyday purchases after a round-up, is the first step to building good money habits. Other than just saving, you can take advantage of the other areas of the platform such as using your Fiat at the Vezclub Marketplace.

The Vezclub Marketplace serves two purposes:

  1. Peer-to-Peer exchange of savings goals (i.e. products) and Points/Rewards/Gift Cards
  2. Crypto Exchange
    Vezcoin will be the main method of exchange for the entire ecosystem

The below image shows the Vezclub Marketplace in action for a person who achieved a savings goal, and a person who wants to redeem their gift card for Vezcoins. There are small details in the info graphic that provide a summarized account of other benefits (i.e. SoD) using the marketplace; all of which are talked about either in the NEM Proposal or Whitepaper document. [Click Image to Expand]


#11

Am I understanding this correctly, that you take the automatically withdrawn FIAT from the user to invest in crypto and then disperse the returns from said investment back to the users ?
Who does the investing ?
What if the investment goes wrong and there is no return or even a loss ?
Same question for defaults on those loans you’re granting traders.
Genereally I don’t see the loss of value, while invested in cryptos, being addressed at all. How come ?


#12

Check out this video… This explains our token distribution method called “Utility in Community”.

As you may know in the U.S.A. ICO sales are starting to be classified as securities under the SEC.

In-order to bypass this, but still promote widespread user adoption of NEM in N. America, our team has decided to go with the NEM community for FUNDING and “Utility in Community” for the token DISTRIBUTION.

With Utility in Community, our tokens will be issued out FREELY in exchange for the completion of Veztask, or jobs used to build our ecosystem.

This benefits those involved, as CVZ will be the lifeblood and medium of exchange in our ecosystem


#13

Good question.

Yes you are correct with our investment approach.

Once converted into crypto, a portion of the pooled funds will then used to provide P2P margin loans on exchanges.(Explains your second, third, and fourth question)

As an end user, in a bear market it is designed for you not to see the loss in value of the crypto assets. We take this “Loss” as a company, and try to mitigate by hedging our risk. (Reserve Fiat fund, used to handle daily user withdrawal request)

Our solution is meant to be simple, and easy-to-use, to encourage mass adoption of NEM tech.

With that in mind, all financial goals (deposits made onto the mobile app) will be reflected through the native fiat currency of all users. This will allow effortless investing into crypto without having to deal with confusing decimals and conversion rates.

Hope this helps :grin:


#14

Are you working on myCoinvest’s project as planned?


#15

Are you able to elaborate more on the means this project intend to provide interest to savers. What sort of interest rate is expected from a typical p2p loan yield. A similar reference lending rate in poloniex indicates around 4% at best. The multi level referral rewards is very reminiscent to a certain Bitconnect. Appreciate the distinction between these two projects.

Also as this is essentially a consolidation of savings and rewards marketplace, what are the effort spent with engagement with US regulators. Since this is a very US centric project.


#16

Everything is progressing as scheduled. We’re very excited to have a functioning use case, with a lot of the tech built out already. Currently in alpha testing, our goal here is to perfect the end user experience and collect data for optimization.

Time Line


#17

All wonderful questions.

  1. Are you able to elaborate more on the means this project intend to provide interest to savers?

    Yea so the rate of return will be dictated by the supply and demand effects for margin loans. Regardless of fluctuating rates, users will still see some type of interest gains as their funds sit on the platform.

  2. The multi level referral rewards is very reminiscent to a certain Bitconnect. Appreciate the distinction between these two projects.

    Sure. Bitconnect was a ponzi scheme fueled by the dependence of the constant recruiting of new users into the scheme to keep the ring afloat.

    If you’re referring to our VezPal program, then our model is completely different. It’s sustainable. While there are different levels of achievement as user become more trusted in the network. The beautiful part is, the logic for the VezPal network is similar to NEM’s POI Consensus.

    Users will have what is called an Investor Score, which will determine their level of trust and achievement in the ecosystem.

    Investor score = ( Account Value + (Activity/ Vezted Amount) + Recruiting )

  3. Also as this is essentially a consolidation of savings and rewards marketplace, what are the effort spent with engagement with US regulators?

    Our project has been in development for over a year now, with most of the dev is behind us, legal is our top priority since this is the main barrier for mass adoption. I can’t go into much details on the legal structure for compliance reasons, but I will say that we have multiple legal entities registered at the federal level and set up in crypto friendly states. We have a good group of payment and securities lawyers working with us here in Atlanta. :grin:


#18

This business of Savings and Investmenst is highly regulated in each country around the world. So this company will obtain license for each country you operated in ?


#19

Thanks for answering.
What kind of interest are you paying them when you’re not making any though. Is there a fixed rate that I miseed ?


#20

That is a bit tough to gauge at this moment. This is something that would need to be scoped out further by the legal team.

Our primary focus is the U.S. regulator environment, to ensure a compliant go live.

I will say, that the beauty of blockchain, is that by nature its border-less and international.

With a SMART Savings Wallet (Available in the iOS / Andorid) , global users will still have access to all of the features and functionality of our ecosystem through the conversion of supported crypto assets against our Vezcoin (CVZ) trading pairs. https://vezclub.mycoinvest.tech/convert