Democratising Financial Services
Alluo September 2022 Product Roadmap: Building the right products
The Core contributor team recently met up in person for the 1st time since Alluo’s inception. To find out what went down in Marrakech, check out our previous article here.
This article covers our plans for Alluo, for NOW, NEXT & LATER and you can download full the roadmap presentation here.
It covers some of the stuff the team talked about in Marrakech and signposts what you can expect from the mobile app, web-app and protocol over the coming months. 🚀
Our mission
So before we look at features and the plan, what is our mission?
Hundreds of millions of people globally are unbanked or underbanked. Financial exclusion undermines their quality of life and holds nations’ economies back.
Furthermore, the world continues to move apace. Inflation dwarfs savings rates and moving money can be time-consuming and costly. The way people live and work has undergone a seismic shift over the last 5–10 years and COVID has normalised remote working. But banking has not kept up.
Whilst Fintech has done a lot to improve financial services for many, it’s mostly enhanced customer experience on top of existing rails and infrastructure and doesn’t make the systemic changes many need.
At Alluo, we want to change this. We want to democratise access to financial services.
Democratising financial services is NOT just a developing nation problem. There is a huge opportunity to improve the status quo globally.
So where do we start to achieve this bold mission?
We believe that web3 and DeFi are the critical enablers to achieve this.
Our guiding questions
We’ve set ourselves two key questions to guide our product roadmap over the next 6–12 months.
3 focus areas
And right now, those translate into 3 focus areas.
The roadmap
As we just start September 2022, we’ve just gone live with our farms on Etherium mainnet; bringing the benefit of the Alluo farms to a broader liquidity pool 🚀.
September-November 2022 in summary
From September 1st until November we’ve got a stack of features and usability changes ahead of our ETH San Fransisco launch event in November.
Having onboarded a new marketing agency (Zebu Digital), we’ll kick off our first major awareness campaign and look to boost the community (more followers, more activity in discord etc.). We’re also planning on taking a big step on the scaling side, by automating a lot of our existing processes.
The full lowdown on our plans
🥰 Usability — New onboarding screens & better signposting both in mobile and the web-app.
🌟 Awareness — We’re shooting for 5* reviews for our app and will be kicking off some marketing campaigns to help. So if you haven’t already, take a look around the app and leave us a review on the app store or google play.
💗 Scaling — We’re proposing an update to our tokenomics to deliver improved rewards for those who own the Alluo token and choose to lock. We’ll link that proposal once complete.
🤖 Automation — It’s critical for us to automate all human interaction and input wherever possible. The current focus is fully automating the liquidity direction (sending deposits to the rewards pools) and improving how we top up our liquidity buffer (amount of immediately accessible funds).
⏩ Alluo Boost — we’re building an opportunity to earn more yield on your deposits as we do more with the rewards we earn from them.
Using boost, customers can deposit either stablecoins OR ETH/StETH and (in simple terms), instead of today where we sell rewards from the deposits we make in liquidity pools, in boost we continue to re-farm rewards to compound the benefits.
This means you could deposit stablecoins and earn rewards in CVX/ETH. By doing so, your initial APY is boosted by over 30%. 🚀
These rewards continue to compound the longer you leave your deposit (and rewards) in there. PLUS, in this stablecoin deposit example, you’re taking as little risk as possible with your initial investment. ✌️
🤑 Alluo AutoInvest: WEB-APP
Using AutoInvest, customers will be able to set up a stream to enable customers to dollar cost average (DCA) into yield-bearing ETH and BTC. 😵💫
OK. Say-what-now?
By way of an example, let’s say you want to buy $1000 of ETH over the next month.
With AutoInvest, you will select your amount to buy over how long (I want to buy $1000 of ETH per month) and every day we’ll convert about $33 to ETH 👌.
BUT more interestingly, that ETH will automatically and immediately start earning you interest at 4.5%. 😎
Oh but there’s more. What about the stablecoins you’re using to buy the ETH? That’ll earn you 7% interest whilst you're waiting to do the DCAing. That is THE MOST CAPITAL-EFFICIENT way you can buy ETH out there. 🚀
November — End Q1
The focus areas after November will be bringing feature parity across both the web-app and mobile app. We’re also planning to roll out our next generation On/Off ramp (a pain point we know is real for mobile app customers). Finally, we will start to focus efforts on two key customer groups — most likely DAOs/protocols and streaming influencers.
Q2 onwards
Once we get to Q2 2023 we’ll likely start to build out our product set to include things such as lending and cards.
