Please ignore this. If you have read the original content, please do not disclose it for the sake of KUSAMA. More information will be available soon, and it will make sense, so I have decided to wait.
#177 OpenCommunity Governance - Proposal Audit Reports
Dear Kusama community,
This proposal is a continuation of two previous milestone proposals aimed at improving the Kusama OpenGov. The first proposal, Milestone 0, addressed OpenGov issues by developing a proposal and audit templates, initiating community discussions, and creating audit reports. The second proposal, Milestone 0.5, expanded the initial project by introducing the program to onboard additional proposal Auditors to enhance the decentralization and accuracy of score results.
In the previous period, we successfully completed a total of 54 audits, of which 19 were conducted by auditor candidates. One of the candidates, Abdulbee successfully completed the full auditor onboarding process being approved by Kusama community via an on-chain OpenGov tip.
Problem
An additional challenge in the current proposal evaluation process is the lack of constructive feedback during the discussion phase. To address this, appointed auditors will shift their focus by becoming more involved in the earlier phases of proposal development. This proactive approach will help proposers receive feedback and address potential weaknesses in their proposals before they are submitted onchain, giving them time to evaluate the feedback and make improvements.
Proposal
In Milestone 1, the primary objective is to continue onchain proposal audits, further expand Auditor tasks, continue collaboration with Polkassembly and introduce Auditor and Reviewer roles.
To ensure transparency and community involvement, our main goal is to transfer the Audit process to the Kusama community. This will be achieved by moving the Audit report work to the post-paid OpenGov Tips, where approved auditors will be compensated for their efforts. This approach ensures fairness and accountability in the process while keeping it open to the community.
In this proposal, we present the continuation of the Audit team work, with the aim to deliver Audit Reports for 60 treasury proposals over a period of 2 months. Our goal is to ensure that these proposals receive the evaluation and feedback they deserve. All work will be post-paid through self-submitted tips, with auditors initiating self-tips for their completed proposal audits. To avoid overloading the treasury track, a tip must cover compensation for a minimum of 5 audit reports.
To effectively evaluate project proposals using the Audit Template, it is essential to have an objective and standardized grading system in place. The following grading criteria are taken into consideration by the audit team when creating audit reports on proposals
Milestone 1.5 is a continuation of Referenda #67 - Proposal Extension with the goal to continue education and onboarding of additional community auditors.
All details can be found in the Full proposal.
Proposal Discussion topic
Thank you!
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Overall 60 % of users are feeling optimistic. Coinstudio's proposal enhances quality in proposals and treasury spending, fostering collaboration for future improvements. The rationale behind ChaosDAO's abstention from Referendum 177 is appreciated for promoting transparency and understanding diverse perspectives. Despite the failure of Referenda #177, a resubmitted proposal as Referenda #203 offers new details. Coinstudio's initiative to provide early feedback in discussions may reduce pressure from nay voters, earning an Aye vote for their efforts and good luck.
Overall 40 % of users are feeling neutral. ChaosDAO abstained from Referendum 177 due to uncertainty about its benefits and concerns over one entity driving audits. The community expressed mixed opinions, with some seeing potential harm while others believed in the experiment's growth. A true need for a service assisting teams with treasury proposals is being validated by ChaosDAO.
AI-generated from comments
Coinstudio's proposal has helped improve the quality of proposals, and I'm glad to be working with him to help improve the quality of treasury spends.
Thank you for your support. I am looking forward to our future work.
Awesome idea CoinStudio! I totally agree that not enough feedback is being given in the first stage (Discussions) of the proposals so hopefully by resolving this challenge, there will also be less pressure from the Nay voters if they see feedback has been given early on and has been taken into consideration and / or adapted to the proposal.
You get my Aye vote, good luck!
Thank you for your support!
ChaosDAO, in efforts to bolster transparency within the community, has offered the below rationale for its unanimous decision to Abstain on Referendum 177 which requests funds to continue the proposal auditing experiment on Kusama.
Members expressed uncertainty on the benefit to the community since it is more of an audit rather than active feedback. There was some concern that one entity is driving the audits instead of something cobbled together by the community at large, while others thought that there isn’t much harm in seeing the experiment continue to grow.
60% Aye 40% Nay 5 Members Abstain
We did not meet 66% threshold for majority on aye or nay, and we therefore abstain
Thank you for providing the rationale behind ChaosDAO decision to abstain from voting on Referendum 177. I appreciate the transparency in sharing your members thoughts and concerns as it helps us understand different perspectives on the proposal.
Unfortunately, Referenda #177 failed to execute as planned. In response to this, we resubmitted the same proposal as Referenda #203. All details are provided under the new referenda.
Hello,
We are in the process of validating a true need for a service to assist teams with crafting and completing successful treasury proposals, so they can focus on building. We would love to hear about your experience with this proposal. If you are willing to take a few minutes, please fill out this form about your experience with the OpenGov treasury proposal process: https://forms.gle/MwDij4adXEQd7Um79
Feel free to leave out any details that your team is not comfortable with sharing, but the more info you can provide, the better we will be able to assess the potential need for our services.
For more info, follow us on Twitter/X: https://twitter.com/OpenGovAssist
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Open debit card for developers powered by Kusama
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Big Spender
Big Spender
Open debit card for developers powered by Kusama
Requested: 120.7K USD * 4.36% (buffer price) (19.9 KSM/USD — EMA7) = 6,331 KSM
TL;TR
This is 3 minutes summary for the proposal, part of our pitch in 17/02 AGG here the slides
Why?
Today, issue debit cards for web3 projects is process that involves huge investments, strict compliance requirements and operational overhead that couldn't be paid by many developers.
We're building an Open API to issue debit cards and then build financial bridges for everyday use cases on Kusama (for example, paying for your lunch or sending money to your loved ones); think of it as a web3 Stripe powered by Kusama.
Holders, consider this: an increase in volume on the Kusama chain will eventually create demand for the token, driving up hopefully prices.
What?
We provide all the operational, development, and financial team expertise to provide a compliant, non-custodial card infrastructure for Kusama users.
You can expect us to deliver:
- First stage (this proposal): Launch a developer-friendly API to enable Kusama apps to launch prepaid debit cards as easily as with one line of code.
How it works?
Our Partners
- Pomelo + Visa (Debit card issuer): Pomelo is a pioneering fintech transforming card issuance in Latin America. Its cloud-native, API-driven platform lets banks and fintechs launch secure, scalable cards rapidly. Partnering with Mastercard and Coastal Community Bank, Pomelo modernizes payments and drives financial inclusion.
- Truora (KYC/KYB): Truora is a Latin American startup simplifying user verification and fraud prevention. Its API-driven platform offers background checks, digital identity, and KYC tools to help businesses onboard customers securely, reduce fraud, and boost conversion
- Bancolombia (Our Bank): Bancolombia is Colombia’s largest bank, boasting 146+ years of trusted service. With 30M+ customers, extensive branch and ATM networks, and innovative digital solutions, it drives financial inclusion, supports sustainable growth, and champions economic progress across Latin America.
Documentation
- API Documentation: here you will find a preview in how it will work, you can create your own identities and also cards, if you want to test it please contact us.
Card Features
- Funds are non-custodial in Asset-hub.
- Top-up via dUSD via Polygon, Etherium, Asset-hub + 10+ chains.
- You can add this card to Apple or Google Wallet.
- Worldwide shipping for Physical Card.
- Cash ATM withdraws.
- As developer you can issue debit cards and earn up to ~1.3% from customers purchases cheaper, compliant and easier than ever before.
Benefits for Kusama
- All balances for the debit cards would be on-chain, ensuring transparency and increased chain volume.
- Calling all developers and builders! We're taking Kusama to new heights by partnering with more real world startups.
- Visa provides card infrastructure via Pomelo (https://pomelo.la/es/).
- Our agreement with Pomelo is established in Colombia, but you can get access to the card worldwide (you only need a passport to verify your identity).
- Today, we want to support dUSD and KSM via Asset Conversions in Asset Hub.
- In the future, we’ll be able to enable other coins/tokens created in the ecosystem to be used in daily use cases. For example, you could make a token in Asset Hub, create a pool (
YOUR_TOKEN/dUSD
), and then use that token to pay for your bus ticket. - With our customers and operation only, we will increase the volume on chain by ~700K USD monthly
- In the future, we’ll be able to enable other coins/tokens created in the ecosystem to be used in daily use cases. For example, you could make a token in Asset Hub, create a pool (
How is it different from Polkadot Pay, Polkadot App or Nova Wallet debit card?
Actually, we're not competing —we're here to enable innovation. Think of us as an open API for debit card issuance for web3 projects, helping more projects/wallets/dapps to connect their users with their money. Here's what that means:
- Integration Made Simple: Our platform lets dapps and apps add debit card functionality without the heavy investments or operational overhead.
- Building Together: Instead of competing, we empower services to enhance their offerings. We provide the foundation, and you build on top of it.
- Expanding Regional Reach: We also support regional growth. For instance, if Polkadot Pay or Nova wants to extend their services into new regions like Latin America, our solution can simplify and accelerate that process.
In short, we're not here to replace existing services—we're here to support and enhance them. Our focus is on making it easier for any platform to offer debit cards, thereby driving innovation and growth across the board.
Here, If you want a more detailed comparison
How far are we?
We have been working on the relationships and legal requirements to launch these debit cards for over a year; today, we’re in an advanced integration process for friends and family and with the regulatory requirements to do it.
About us
- David Barinas: CEO + Sr Engineer - Former YCombinator S19 Founder (Valiu 300K users + 6.2M raised).
- Ole Tobias: COO + Product Managment - MSc in Technology Management, former Technology Consultant at Deloitte, and ex-COO of Efficence AS.
- Roy Parrish: Chief Legal Officer - LATAM & North America | Strategic Oversight of Compliance and Regulatory Affairs
- Katherin Lopez: Head of User Research and Deals seeker / Ex Littio (YCS19) Ex Valiu (YCS19).
- Luis Polania: / Head of Financial Operations Ex Littio (YCS23) Ex Valiu (YCS19).
Traction
- Today, our monthly volume is ~253K USD, which we plan to migrate to Kusama via dUSD.
- Startups will work with us until today:
- Coco Wallet YCS19 3.5K Users monthly Link to LoI
- New Customers will be released and updated here soon…
Expenses Breakdown
- 45.7K USD License = 30K USD x 19% Colombian VAT + 10K USD Collateral for Visa
- 75K USD = 2.5K USD x 5 Members Full time x 6 Months
Total: 120.7K USD
Discussion Channel & Website
If you have any questions, please feel free to reach out to us on our channel to discuss them with the community.
FAQ
- Why funding us?
We are an experienced team with a proven record of building Web3 products. Now, we want to use Kusama in everyday cases worldwide.
-
Which regions are excluded?
Due to Visa terms and conditions, the following regions are excluded.
- Afghanistan
- Albania
- Belarus (Republic of Belarus)
- Bosnia & Herzegovina
- Burundi
- Cambodia
- Cameroon
- Central African Rep
- Congo (the Democratic Republic of the)
- Congo (the)
- Croatia
- Cuba (Republic of Cuba)
- Eritrea
- Hait
- Iran (Islamic Republic of Iran)
- Ira
- Lebanon
- Liberia
- Libya
- Mali
- Mozambique
- Myanmar (Burma)
- Nicaragua
- Nigeria
- North Korea (DPRK - Democratic People’s Republic of Korea)
- Pakistan
- Palestine (State of)
- Philippines
- Russia (Russian Federation)
- Somalia
- South Sudan
- Sudan (the)
- Syria (Syrian Arab Republic)
- Yemen
- Zimbabwe
-
Why is the web app in the second stage?
What’s cool about having our open API for Kusama Apps first is that other teams in the ecosystem can create frontends. These could be part of Nova Wallet or external web apps, for example. We want to be enablers for the whole ecosystem, this must be a different discussion!
-
Whats the relationship with Virto?
BloqueDAO is a Virto-spinoff established as a self-governing DAO in Kreivo. We’re leveraging on the Kreivo technology to support non-custodial management of the funds every user tops-up in their Kusama Pay cards.
- Would you be open to having your license or partnerships verified?
We're open to being independently verified by any member of Kusama. However, because our documents include non-disclosure agreements, we cannot share them publicly, though we can provide them privately.
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