Spell Wallet - Bringing new ATOM Stakers to the Cosmos Hub deployed by Atom Accelerator DAO (AADAO) for Everstake
Amount Approved: $5,000
Status: In Progress

Spell Wallet – Bringing new ATOM Stakers to the Cosmos Hub

This grant to Everstake is to run a trial of a quest-style campaign on their Telegram mini-app – Spell Wallet.

The campaign is designed to encourage users to stake ATOM, educating them about the process of staking ATOM, how it helps to secure the Cosmos Hub and its Consumer Chains, and how staking ATOM helps users qualify for airdrops.

Spell Wallet is a Telegram mini-app developed by Everstake, which attracted 4.3 million users within just 4 months of its launch. This is a captive audience that we believe the Cosmos Hub should try to directly engage.

The campaign will incentivize users of Spell Wallet to stake at least 0.9 ATOM to receive 0.1 ATOM as a reward – so that they have 1 ATOM staked in total. Using our grant, Everstake will purchase approximately 1,135 ATOM (@ $4.40/ATOM) to use as incentives in this campaign, thereby potentially having a further 10,350 ATOM staked on the network as a result of this campaign – a 9x ROI for the AADAO.

This project is a trial for this campaign style, running alongside our ATOM 5K Quests, which also encourages staking ATOM in return for points (among other quests).

This campaign is set to run for 4 weeks, between Nov-Dec 2024. Everstake is not charging AADAO or the Cosmos Hub any fees for running this campaign. Everstake is not charging AADAO or the Cosmos Hub any fees for running this campaign.

Previously, the team received another grant from the Atom Accelerator, to develop Spelldrop – the ATOM airdrop explorer.

About SpellWallet
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Spell Wallet (from Everstake) is a multifunctional Telegram application with 4M users providing a hasslefree entry to multiple airdrops educational content NFT marketplace and native MPC wallet with staking functionality. The team behind Spell includes frontend and backend developers data scientists and marketing experts with a vast experience in blockchain development toolings and airdrop dashboards for Cosmos.

Team: SpellWallet
Current Status: In Progress
Funding Program: Regular Grants

Amount Requested: Amount in their initial application, or for RFPs, their first quote or that of the nearest competitor $5,000
Amount Approved: $5,000 (100%)
Amount Paid: $0 (0%)

Date Applied: Oct 16, 2024
Date Approved: Generally includes time spent doing interviews, rescoping or amending the application, and due diligence Oct 16, 2024 (0 days)
Expected Completion Date: A date that we expect this grant's deliverables to be completed by. This of course accounts for external dependencies (e.g. governance votes), but is not a strict condition on some grants. Dec 31, 2024

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