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Elysium Lab

Elysium is the first truly Keyless Wallet for digital Assets

Switzerland
Market: Financial services, Blockchain, Crypto currency
Stage of the project: Operating business

Date of last change: 14.05.2024
Min amount of loan
$  100.000
Estimated yield
1 % a year
Go to the owner's profile
4
Total required
$ 300.000
Rating
equalizer from 1000
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Idea

Elysium is the first truly Keyless and cold Wallet and for daily activities, like payments, in Digital assets and Bitcoin space. Thanks to our multi-factor algorithm, we have redefined the Self-Custody System and the way people can manage and trade assets. We increase security through a simple experience and ensure users’ full ownership.

Like a Neo-Bank, but on-chain and peer-to-peer.

Current Status

Traction
Startup:
Raised +150k CHF with Fulgur Ventures and Tenity.com Batch 11
Closing PreSeed with Lugano Plan B fund by Tether - 800K CHF
LOI from SDX and PKB private bank.
Advisors from Innosuisse, Google, Kraken, Tether & Bitfinex
Product:
App lunched in Appstore 1k Users
First Cold Software in the market
NPS 30%, Protype rating 4.5/5, 1500 CRM contacts.

Market

## Serviceable Addressable Market (SAM)

The SAM reflects Elysium's attainable market share, considering factors such as outreach capability, the business framework, and the competitive landscape.

- **Tier 1 (Crypto Users):** Crypto owners form 4.5% of the global population. Adhering to a conservative stance, we acknowledge only 80% of these as distinct and active, equating to 3.5% of our TAM or approximately 49M users.
- **Tier 2 (Fintech & Neo-Banking Users):** Excluding Tier 1 users from the TAM, the subsequent segment consists of Neo-Banking users, who account for 11% globally or roughly 10.5% of our TAM, which translates to about 154M users.
- **Tier 3 (Mass Digital Payments):** After extracting Tier 1 and Tier 2 figures from the TAM, the residual populace is perceived as digital payment or digital wallet users. They constitute 60% globally, or approximately 51.5% of our TAM, around 490M users.

In summation, Elysium's SAM stands at a promising ~910 million post-segmentation, representing 65% of the TAM.

## **Core Strategies**

---

**Targeted Digital Advertising:** Precision campaigns targeting both seasoned cryptocurrency owners and potential adopters worldwide.

**Content & Influencer Marketing:** Collaborations with industry influencers, coupled with rich content, to ensure visibility and credibility in the digital currency ecosystem.

**Educational Initiatives:** Resources to demystify digital currencies, highlighting the drawbacks of centralized banks and advocating for self-sovereign identity.

**Incentivized Engagement:** A robust referral program and strategic social media campaigns to foster platform usage and attract a broader digital audience.

## **Data-Driven Marketing & Strategie approach:**

Elysium's strategy is twofold: agile adaptability, grounded in concrete, data-informed decisions. Our growth vision, while expansive, remains calculated, ready to harness emergent market opportunities and respond to challenges proactively. Comprehensive A/B testing and regional feature usage analytics tailor our approach, ensuring resonance with target demographics.

Our marketing channels remain multifaceted: Social Media, Influencer Collaborations, Referral Systems, Articles, Industry Events, Email, and Display Ads. User insights are paramount, informing real-time strategy tweaks. SEO and SEA remain at their core, ensuring optimized visibility and organic growth

## **Strategic Highlights:**

1. **Localized Engagement & Global Accessibility**: Although we focus on local marketing forces, our application will be accessible worldwide, ensuring a global footprint from day one.
2. **Adaptive Strategy based on User Insights**: Continual analysis will determine our prime user base locations, adapting campaigns locally. Features and offerings will be molded based on A/B testing and user preferences across regions.
3. **Legal & Regulatory Compliance**: Our application's presence will adhere to regional legalities. E.g., If we're compliant in Italy, our app's foundation is set for the broader European market.
4. **Segmented Offerings & Personalization**: Based on feedback from expert advisors, our approach will entail clear micro-segmentation, solving specific problems for defined user groups. We'll offer solutions tailored to their unique needs while continually iterating our unique selling proposition (USP) against competitors.
5. **Dual B2B and B2C Approach Post-Beta**: Post the open beta phase, we’ll bifurcate strategies targeting both B2B collaborations with larger financial entities and direct B2C engagement.



## **Go-2-Market Overview**

Starting in the robust tech environment of Switzerland, specifically Lugano, Elysium then swiftly moves into Italy, leveraging its crypto-communities while testing the EU environment for our subsequent European expansion. Our approach is twofold: a strong localized marketing focus and broad geographical application accessibility. This ensures our presence is felt locally yet accessible globally.

Post our initial Europe-centric expansion, LATAM is on the horizon, owing to its significant remittance channels and unbanked sector potential. We are focused on Payments, Onboarding and assets management Experience, and account security.

The strategy is systematic:

1. **Initial Testing:** Swiss-Italian-centric, targeting tech clusters and local communities. MVP is available globally, yet our marketing activities are localized to garner specific insights.
2. **European Expansion:** We focus on the broader European landscape, targeting digital-crypto payment users, fintech enthusiasts, and early adopters. Our application's accessibility spans regions, with a concentrated marketing focus to ensure product-market fit.
3. **LATAM & Beyond:** Post-Europe, LATAM becomes our focal point, capitalizing on its remittance channels and crypto-enthusiastic user base. This sets the stage for further global expansion, encompassing key regions known for their fintech dynamism.
4. **B2B Unit:** Our final phase integrates a B2B approach, targeting banks, capital markets, and financial intermediaries. This diversifies our reach, leveraging institutional networks for exponential growth.

### **Scale-up Potential:**

Elysium's innovation has substantial scale-up potential, with the versatility to serve both individual users and financial institutions. The possibility of developing new markets is evident, given the high growth rate of digital asset adoption and the need for secure management solutions. Elysium's business model and technology are flexible enough to accommodate B2B, B2C, and B2B2C, making it well-suited to speed up the company's growth.

Problem or Opportunity

The current landscape of cryptocurrencies and blockchain technologies resembles the early days of the Internet in 1998, presenting several critical challenges:

1. **Centralization Risks with Exchanges**: The primary access to cryptocurrencies is predominantly through exchanges. This centralization introduces risks related to token issuance, custody of user identities, management of markets, and fund custody, exposing users to operational fraud and insolvency risks. Moreover, storing cryptocurrencies on exchanges means not having actual possession since users do not hold the private keys. This situation leads to a reliance on exchanges' liquidity and exposes users to censorship control risks.
2. **Onboarding Challenges**: Entering the cryptocurrency market is daunting for most people. The current method of saving a 24-word seed phrase on paper is neither secure nor user-friendly. This approach has led to substantial losses, with users inadvertently losing access to their funds.
3. **Complex Asset Management**: For non-tech-savvy users, managing and transfer assets within the blockchain space is overwhelming. The complexities around transferring funds, swapping assets, choosing the right blockchain, integrating tokens, and understanding digital signatures and cryptographic operations create a significant barrier to entry.
4. **Identity and Regulation Compliance**: Presently, non-custodial wallets allow users to create multiple wallets without any identity verification. While blockchain technology ideally supports anonymity or pseudonymity, emerging regulations require users to establish their identity to use various platforms and services. This regulatory pressure conflicts with the inherent privacy features of blockchain technologies.

Competitors

## Competitive Overview

We differentiate ourselves fr om competitors through our unique onboarding algorithm and asset management approach, which is user-centric. Elysium is the first wallet wh ere people are key, can tailor onboarding security and recovery, and are connected to identity. Elysium has redefined the concept of Self-Custody, and your needs shape the technology. Elysium performs faster transactions based on pre-approved action, and the asset management and transactions are smooth and interoperable thanks to the cryptographic approach between Bitcoin, Ethereum, and private DLT Networks.

## Dependecy Trilemma Solved

Elysium has indificated and solved a trilemma that associates all wallets, namely the liability associated with security and login methods; the corners of the triangle are: Personal liability, product ower liability (centralized wallet providers) or third party liability (google or HW login). Elysium through multiple authentication factors mitigates counterparty risk and makes the experience secure and personalized.

## **Competitor View**

Elysium faces competition from various players in the crypto asset wallet market. Its competitors include non-custodial wallets like Exodus, Metamask, Trust Wallet, and Safe. Custodial wallets, such as Binance and Coinbase.

Advantages or differentiators

Elysium's Multi-Factor Login Algorithm revolutionizes self-custody by allowing keys to be restored using user-selected multiple unit factors, eliminating the need for traditional key storage. All are connected to user identity, protecting privacy. Its Intention-Based Transaction system simplifies asset management by enabling users to pre-approve actions, automating the execution process, and making transactions seamless and user-friendly.

Finance

**These will be the final fees the user pays, from which Elysium must subtract the fees of its providers.**

- On & Off Ramp (1-2%)
- Debit Card FIAT Conversion (0.5-1%)
- Swaps & Exchanges (0.3-8%)
- Staking Pay as You Earn (10%)
- Lightning Network Transaction & Digital Payments (in sats)
- Premium & Subscriptions (5-10$ monthly)
- Tax Statements (One payment or Premium)
- Elysium Hardware access key factor (TBD)
- ATM Card Withdraws (TBD)
- Sponsorships & Partnerships: Potential alliances to subsidize fees; for instance, a third party could sponsor gas fees. (TBD)

Loan terms

24 months

Interest rate, %

1

Business model

Our revenue is derived from tiered transaction fees, pay-to-use features, premium subscriptions, and collaborations with financial institutions. In short, we combine transactional fees, pay-as-you-earn, freemium features, and strategic partnerships for income.

Solution (product or service)

Elysium Wallet is redefining the future of digital asset management and payments. We aim to remove the complexity of digital assets and make them accessible and practical for everyone, from beginners to the tech-savvy, maintaining 100% ownership over assets and data. We're creating a platform that simplifies the onboarding process, allowing users to customize their entry and security preferences in a way that's as straightforward as a Neo-Bank (but Peer to Peer) without interacting with private keys and the need to secure them somewhere, not even in the mobile hardware, thanks to our proprietary Mulfti-Factor Key Generation Algorithm the key is not saved but just generated when needed, that means multiple recovery systems and many login ways connected to your person.

Team or Management

Risks

## 2024 Success and Risk Mitigation Overview

Elysium's strategic roadmap is anchored in three critical success factors: product development, market penetration, and strategic partnerships, each with clear objectives, strategies, and milestones to guide our growth. Additionally, we've identified and devised mitigation strategies for major risks, including brand establishment, funding, and talent acquisition.

### **1. Technology Readiness**

- **Objective:** Launch the Elysium digital wallet with advanced security and a user-friendly interface.
- **Strategy:** Utilize feedback from beta testing to make iterative improvements, focusing on user experience and security enhancements.
- **Milestone:** Achieve a 10% monthly user adoption growth rate post-launch.
- **Challenge:** Protecting and developing competitive technologies.
- **Mitigation:** Implement intellectual property strategies, develop a functional release roadmap in agile enviroment, enhance data security processes, and intensify R&D efforts.

### **2. Fundraising & Partnerships**

- **Objective:** Sucure fundraising, establish partnerships with major financial institutions and strategic partners.
- **Strategy:** Utilize industry connections and offer value-driven proposals for mutual benefits and long-term collaboration.
- **Milestone:** Secure three strategic partnerships to enhance brand awareness and integrate Elysium Wallet into third-party apps.
- **Challenge:** Securing sufficient growth capital.
- **Mitigation:** Build relationships with VCs, apply for grants, and seek strategic partnership funding, including retail and syndicate investments.

### **3. Market Fit & Penetration**

- **Objective:** Increase Elysium's market presence, brand awareness and users sudisfaction.
- **Strategy:** Execute targeted marketing campaigns using SEO, content marketing, and partnerships.
- **Milestone:** Reach 10,000 active users and increase market share significantly.
- **Challenge:** Increasing brand awareness and aligning the Go-to-Market strategy with funding and product development.
- **Mitigation:** Intensify omnichannel marketing ans sales strategies, collaborate closely with departments, partners and communities, conduct market legality checks, and improve the beta tester program for user feedback. Distribute budget properly

### **4. Talent Acquisition and Retention**

- **Objective:** Attract industry-leading talent to internalize key activities and improve organizational processes.
- **Strategy:** Leverage industry networks for hiring, prioritize transparency, and select highly motivated individuals aligned with Elysium's vision.
- **Milestone:** Grow to 10 full-time employees with advisory board support for each department.
- **Challenge:** Attracting and retaining top talent.
- **Mitigation:** Build an attractive employer brand, offer competitive compensation and ESOP, and promote a culture of innovation and professional development.

Incubation/Acceleration programs accomplishment

Startup ProgramsTenity Batch 11 Zurich 1 of 11 Worldwide
PKB Prive Bank - Academy 1 of 3 in Ticino
SwissNex CyberSec SanFrancisco 2023 - 1 of 3 in Switzerland
Boldbarin Lugano Top 20

Won the competition and other awards

AwardsTop 10 ****Swiss startups to watch in 2024 by Tech.eu
Best Startup in blockchain privacy Crypto2030 Davos
Top 10 Fintech Startups in Switzerland 2024 (early Stage) by Venture.ch
Best Startup in Lugano by Hackernoon.com
First Startup about blockchain Privacy and ID by Crypto2030.org

Invention/Patent

We are going to patent it soon

Photos

Photo 1 - Elysium is the first truly Keyless Wallet for digital Assets
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