blockchain-investor-network / harpoon

Application to determine sophisticated investors and create identifying NFTs for them

Harpoon

Accredited Investor Defined: Wiki An accredited or sophisticated investor is a qualifying status that allows an individual access to investing in financial instruments deemed too risky for the average investor. In the US the Securities Exchange Commision creates the qualification standards and many countries have similar programs in place. A common qualification is the fiat equivalent of $1m US in assets over an individual's liabilities.

Why this matters: With regulation catching up to technology, crypto markets will be further regulated in the pursuit of safety for the average investor. This limits the products available to investors, cutting out a large source of funding for startups. This also adds risk and compliance requirement costs for startups looking for funding.

Part of the solution: Blockchain Sophisticated Investors(BSIs) The steady growth of blockchain technology has allowed early risk taking adopters to create and build wealth through blockchain assets. Currently, with little guidance and experience, most accountants would have trouble verifying multiple accounts, across multiple chains of assets and valuing them appropriately to meet the qualification requirements. Luckily we’re developers and not accountants.

What Harpoon Does: Harpoon validates that a potential investor meets the BSI standard by examining an investor's accounts and verifying that the assets available to him/her in such accounts exceed a value $1 million USD at current exchange rates. After confirming adequate net worth, the application mints and sends an NFT token to the investor as proof of his/her BSI status. The application also maintains a whitelisted crowdsale contract in order to match qualified startup projects with accredited investors.

Technologies Used:

• JustinMind
• Moralis
• React
• NFTPort
• Solidity
• OpenZepplin
• Python