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xGov-52 Pack solution submitted for your review. -> To withdraw #52

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Pack solution submitted for your review.
AtticusLScott Jul 17, 2023
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Rename xgov-x.md to xgov-52.md
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title: xGov-52 Integrating the world of DeFi and the real economy
author: Jose Luis Uribe (@AtticusLScott), Camilo Cordovez <[email protected]>, Juan Pablo Londono <[email protected]>, Mario Castro <[email protected]>
company_name: Pack
category: dApps
focus_area: Defi
open_source: Yes
amount_requested: 1750000
status: Draft
---

## Abstract
We have identified 2 main problems:
Problem 1: Idle Value of Crypto and Disconnect to Real Economy.
Problem 2: Enormous Finance gap in Lending for Small and Medium Enterprises (SME).

Our goal is to develop a powerful tool that serve as a bridge for the development of SMEs and individuals, who are the most important forces behind employment growth, innovation, and economic development.
The most significant growth barrier for SMEs is get external financing. To progress economic growth and combat poverty, it is essential to provide possibilities for SMEs in emerging markets.
What is Pack’s proposal?

- Unlocking the true potential of crypto value and putting its huge idle value to use
- Providing an investment alternative, for new and current crypto-holders, that allows them to perceive additional returns without the need to sell their assets
- Creating a coherent connection between the crypto world and the real economy, one that supports growth and impact to SME’s and individuals
- Empowering and supporting the alternative lenders by providing access to innovative capital sources for their growth and be able to push their vision and impact further

Pack Solution (Pack) is a platform that connects the two worlds, the crypto-world and the real economy.

PACK allows holders to earn additional returns while holding their assets and simultaneously providing critical liquidity to support Lenders and SMEs, contributing to the growth and use case of the crypto market to impact the real economy.

How? Pack is a financial alternative for crypto-holders who can fund and provide liquidity to SMEs and individuals of the real sector. To access the real economy, Pack will leverage on the track record, know-how and expertise of Lenders.
In return, investors will have higher annual yields than the ones offered by standard DeFi protocols and Lenders will have an innovative and alternative source of capital to grow their lending capacity.

Pack generates a liquidity pool coming from the collateralization produced by the investment of crypto-holders on a lending/borrowing Defi Protocol and directs this liquidity to provide loans to Lenders.
Pack solution model is not based on a P2P mechanism to connect crypto-holders and Lenders, but with the creation of liquidity pools it will provide a curated and diversified portfolio for investors, with the benefit of lowering risks


## Team
CEO – Camilo Cordovez.
Camilo has more than 14 years of experience in investment banking, capital markets, corporate and project finance in sectors such as infrastructure, real estate, medical cannabis, technology, energy and mining.
He worked as Private Equity Fund Advisor for Colombian asset manager and stock broker house Profesionales de Bolsa, as Investment Banking Associate for Colombia and Latam with Yun Capital LLC from NYC, Managing Partner of PrimeCap, and as a financial mentor
at CleanTechHub and financial advisor in the United Nations Low Carbon Business Action program, among others.
Camilo is a Business Administrator from the European Business School of Barcelona, certified as an Advisor to Investment Funds and Private Equity by AMV, certified in International Corporate Finance by Columbia Business School NYC and certified in Private
Equity Funds by EAFIT and ColCapital.

CTO – José Luis Uribe.
José Luis has extensive experience in research and development of hardware & software for technology multinationals. Additionally, he has developed sales strategies and consulting services for digital transformation for several companies in Colombia and has taught at
several universities in the country. Since the emergence of Bitcoin at the beginning of the 21st century, he is a believer that blockchain and its applications are part of the next great economic and technological global revolution.
Within his academic training, José Luis has two undergraduate degrees Electronic Engineering, 2003 (Pontificia Universidad Javeriana - Bogotá) and Systems Engineer, 2008 (Pontificia Universidad Javeriana - Bogotá), additionally, he has two master's degrees
Master of Computer Science, 2009 (Universidad de Los Andes) and MBA, 2017 (Universidad de Los Andes).

Juan Pablo Londoño - FinTech + Lending Expert.
Professional in business management, certified expert in Fintech and specialized in Fintech business development. Co-founder of the Colombian Association of Technology and Financial Innovation Companies "Colombia Fintech" and member of the Board of Directors, as well as being an
external consultant in the digital lending industry.
His career includes experiences as a Sr. Fintech consultant in digital lending, head of Latin American and Asian B2C digital lending companies, and data technology product manager.
In addition, he is a serial entrepreneur with more than 8 years of experience in the payday loans segment.

Mario Castro – Capital Markets and FinTech Expert.
Industrial Engineer with postgraduate degrees in business administration and finance from Universidad de Los Andes in Colombia. He has over 8 years of professional experience in the Colombian financial system, with the broker house Corredores Asociados.
He is co-founder and CEO of COINK, a neo bank monitored by the Financial Superintendence of Colombia, operating in Colombia and with over 200 thousand users.

## Experience with Algorand
The team member with more experience in Algorand is Jose Luis Uribe (CTO).
Although Jose Luis' expertise is in Ethereum and Solidity, Jose Luis has a working knowledge of Algorand building some dApp prototypes, minting NFTs, and studying the Algorand DeFi ecosystem.

## Roadmap

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### Step 1
Date: 31/12/2023
Description: Development Pack Solution MVP (Minimum viable product).
Amount:1750000 Algo.
Main milestones:
- Building Team
- Incorporation & Legal Framework
- MVP - Core Technology Development
- MVP Back & Frontend
- Risk & Credit Scoring Model
- Integration Outsourced Services and SaaS
- Approach Potential Investors
- Deals Sourcing

The use of funds is divided the following way:
- Payroll: 40%
- Tech Development & Costs: 35%
- Commercial & Marketing: 15%
- Admin & General: 10%

### Step 2
Date: 31/03/2024
Description: Pack Release and placing loans
Main milestones:
- Official release of Pack Solution
- Placing of 1st Loan to Lender

## Benefits for the community

For Investors with crypto assets in Algorand Blockchain. It will get them higher rates of return than investing in common borrowing/lending DeFi solutions, as they will have a share of the profits coming from interest payments from the selected Lenders.
Basically, these returns come from 2 sources:
1. Standard Supply APY (Annual Percentage Yield) offered by DeFi Protocols which will be accrued in favor of the investors at the DeFi protocol.
2. A share of the returns perceived by the payment of interest rates from the borrowing done by Lenders.
These higher returns will be uncorrelated to crypto’s market volatility as they are related to yields produced by Lenders in the real economy.
It is important to highlight, that as a value proposition, PACK enables its investors with the possibility of investing into the liquidity pool while holding their assets, so if the value of the underlying assets rises, the holders will still perceive the returns from higher prices of
their assets.

For Lenders, it is an alternative and more efficient source to borrow money from PACK’s liquidity pool created by the collateralization of the crypto-asset provided to the DeFi protocols in blockchain different to Algorand by crypto investors.


## Additional information

Future Developments

Our own DeFi Protocol: Pack’s team has the task to analyze the option to develop its own decentralized finance protocol based on Algorand, which will allow Pack to reduce some of the transactional and collateralization costs of the operation coming from the use of 3rd party DeFi protocols.

Artificial Intelligence for credit scoring and pricing: Pack’s ability to efficiently and effectively analyze and curate the Lenders who should be awarded with loans from the liquidity pool. This is a key process for long term success of the model. The use of technology
in this process is imperative to develop the most trustworthy decision-making tools and to deliver an efficient service to interested Lenders. Pack team’s background and knowledge must work in an intertwined manner with technology towards the goal of developing the
correct predictive and credit scoring models, so that to the extent that Pack experience and data generation gains ground, it must implement the algorithms and AI solutions to assist the process of granting loans to Lenders.
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