{"signature": "0xebf4bfae55476d935269b5c47184aeba03173726f2c1ec690aaa82744d16e7cc3cf41ebe09bfdbd28fc1079057bb381c63b435ed3f39dd97e3be0a61c95404981b", "application": {"round": "0x347ff9951d24e29b559e3323b5370aa29993e613", "answers": [{"type": "email", "hidden": true, "question": "Email Address", "questionId": 0, "encryptedAnswer": {"ciphertext": "5xYU6dN8MCx48toX0ZhiDByY26NUfLMBnjhBm7oNXTc=", "encryptedSymmetricKey": "198dbe63e6189a50fe32760e4d8652832f2d5c8d99bc11dfe7bf297e3c79b04096f7683998b2b8cb5abfa6fc7ca16414c2530a164968eea24ef7d11b7eb5f0a476b5de3af8da172588a830fcbceb446ae20afdc798413a4e43d15c9e691c8aa85a2b3c64c1cd20b6aeb0d0bcb849ca38218d47c3673329739d01442cb4c456bd0000000000000020ebbf3cc3b5d39b5b427e271809d573bf6f6c3b267356368d0caaa5c73352ccf9a20cbf69de057a49d204ed5bcea96b90"}}, {"type": "short-answer", "answer": "In 2022, we had a $4.5m pre-seed round co-led by Crypto.com Capital, Forge Ventures and MassMutual Ventures, supported by Saison Capital, Coinhako and Longhash Ventures. The round includes angel investors who are founders of Nansen, Etherscan, Gnosis Safe, and CoinGecko. For more information, check out website https://www.hq.xyz/about", "hidden": false, "question": "Funding Sources (how is the project financed outside of this round)", "questionId": 1}, {"type": "number", "answer": "20", "hidden": false, "question": "Team Size (including full and part time)", "questionId": 2}, {"type": "paragraph", "answer": "As the onchain ecosystem grows and projects mature, there will naturally be a growing need for back-office support for organisations (businesses and foundations), particularly in financial operations and reporting.\n\nThis need is compounded by there being a highly fragmented suite of tools in the ecosystem as well as there being increased regulatory scrutiny on onchain projects of all sizes (necessitating stronger financial accountability).\n\nHowever, there's a lack of onchain banking tools to keep up with the growing onchain ecosystem.\n\nHeadquarters (HQ.xyz) is uniquely positioned in the onchain ecosystem as the onchain business account that integrates self-custody solutions with banking rails, portfolio tracking, and reporting. We account for all onchain activities that are B2B and operational in nature (as opposed to having a trading or retail focus).", "hidden": false, "question": "How is the project CollabTech?", "questionId": 3}, {"type": "paragraph", "answer": "Key Problems Our Project is Working to Solve:\n1. Highly Fragmented FinOps: Many onchain businesses rely on multiple disparate tools for financial operations, including wallets, stablecoin transfers, on/off-ramps, bank payments, through to accounting/reporting tools. This leads to vast inefficiencies, and potential human errors when running various FinOps functions.\n\n2. Broken Payment Processes: The current state of payment systems include several accounts with several vendors, which is often a cumbersome and inefficient experience. This also lacks the speed and reliability required for modern financial operations.\n\n3. Lack of Holistic Visibility into Treasury: Businesses struggle with obtaining a real-time overview of their treasury across chains, tokens, and fiat balances. This is risky for businesses as it hinders accurate financial planning and analysis.\n\n4. Rapidly Changing Regulatory Requirements: Navigating the evolving regulatory landscape poses a challenge for onchain businesses. Crypto is also fast becoming more and more unsupported with traditional banks. To solve this, Headquarters provides compliant payment rails between self-custodial wallets and traditional payment methods such as banking and card networks, and our founding team is made up of professionals that span traditional finance and the crypto industry.\n\nTarget Market:\n- Finance professionals and operators in onchain businesses: Enhancing the financial operations of start-up to fully-fledged businesses in the onchain ecosystem, including protocols, DAOs, NFT projects, infrastructure/tooling providers, and more.\n- Builders or grant recipients: The banking and reporting layer for projects and organisations with operations teams that deal with stablecoin payments and treasuries.\n- Talent (employees and contractors) and service vendors in the space: A banking and reporting layer for recipients of crypto payments.", "hidden": false, "question": "Who's the targeted user group and what's the need/problem being addressed?", "questionId": 4}, {"type": "paragraph", "answer": "Our team has grown from 12 pax to 20 pax over the last 12 months.\n\nOur immediate expansion plans moving forward are to launch our Visa corporate debit cards product, increase geographical coverage of crypto-to-bank payouts, and support more chains for better onchain coverage.", "hidden": true, "question": "How do you ensure value keeps being delivered after the round is over? (How will the project become commercially sustainable or a perennial good? )", "questionId": 5}, {"type": "paragraph", "answer": "12 weeks for crypto-to-bank payouts with Arbitrum and Ethereum network support.\n\n3-6 months for release of self-custodial VISA corporate debit cards for onchain teams.", "hidden": true, "question": "How long will it take after funding is received to deliver value? (share a high level timeline)", "questionId": 6}, {"type": "paragraph", "answer": "Telegram: @euwyngoh", "hidden": true, "question": "Contact info (telegram handle or whatsapp)", "questionId": 7}], "project": {"id": "0x201d432f291f7a4be62ebad68d3dea1aa78b5034880d8cae201d057b83534885", "title": "Headquarters (HQ.xyz)", "metaPtr": {"pointer": "bafkreid6g3mzp3nkkmg6tjkyihw35xz2gpgcl4vw6yhhr6goesnkpwazgi", "protocol": "undefined"}, "website": "https://hq.xyz", "createdAt": 1722496700235, "credentials": {}, "description": "Headquarters (HQ.xyz) is the onchain business account, dedicated to unifying and streamlining business operations in today\u2019s onchain economy.\n\nHeadquarters provides a comprehensive suite of services, including batch token payments, crypto-to-bank payouts, and treasury reporting.", "lastUpdated": 0, "projectTwitter": "HQ_xyz"}, "recipient": "0xcD2321733385dFab496c3df6e87EC20b64172c2A"}}