The parathread 3390 was originally set up for testing purposes and operated successfully for ~20 days. Unfortunately the collator along with its state was deleted before unlocking the parathread. Therefore, we are unable to deregister the parathread. We propose to deregister this chain via governance.
#291 Proof of Chaos Funding
Project: Proof of Chaos
Domain: Governance Participation
Beneficiary: Proof of Chaos Multisig (Go8NpTvzdpfpK1rprXW1tE4TFTHtd2NDJCqZLw5V77GR8r4)
Requested Amount: 1172KSM ($20420)
Purpose: Retroactive Funding + Artist subsidies
Latest Deliverables:
-
Bring project to AssetHub (nfts pallet)
-
Make project multi-chain
- Kusama ✅
- Rococo ✅
- Polkadot 🏗️ (voting enabled already)
- Parachains 🏗️
-
Referenda sendout UI (ANYONE can mint governance participation NFTs and earn royalties)📈
-
Revamped codebase: allows for faster implementation of new features in the future🧑💻
Passing of this proposal is a prerequisite for further implementation of our roadmap (see our full proposal for details).
Dear Community,
The Proof of Chaos project is running full steam again. For the past 9 months we worked hard to bring our vision to life. It has been a period of constant learning and pivoting in this fast paced environment. We are very proud of where the project is going and what we have built: anyone can now mint governance participation rewards and receive royalties whenever they are traded.
We demoed this with a sendout for all voters of Referendum 0 on Kusama. Most of the work done to date has been covered through our last funding round in November of last year. As the future around NFTs was very uncertain at the start of this year we took the strategic decision to run our engine on minimum steam until there was more clarity on the horizon. Through this decision we have been able to stretch our last funding pretty far.
We did run a bit overboard though (19.2k USD) as we completely revamped our code base. We now have a new site and the new code allows for much quicker and cheaper implementation of new features in the future. For example with the new codebase adding multi-chain support is now very easy. This proposal seeks retroactive funding for those hours and outlines our future roadmap.
With a period of heavy development to build a solid foundation behind us, we will now also start focusing on marketing our tool. Reward creators currently have to lock up approximately 7KSM per sendout for a referendum of 500 votes. So while they do earn royalties on the trades, in the current market climate it is tough to earn back that amount through trades. In this regard we want to launch a program that reimburses the first 10 reward creators with the amount paid/locked up through their send-outs. We have included a budget of 7KSM*10 to fund the first 10 creators and get things going.
The full proposal can be found here.
Our Value To the Ecosystem
Our goal is to bring more participants to on-chain governance on Polkadot and Kusama to secure the network through increased decentralization. Besides governance participation increasing notably since the introduction of our project in gov1, we also achieved doing the following:
- We recently published a clean UI to allow anyone in the ecosystem to send NFTs as rewards for participating in on chain governance.
- We work alongside many other ecosystem teams to elevate the whole. We frequently discuss with Parity, Encointer, Kilt and Kodadot to provide feedback and develop ideas in the realm of the Polkadot ecosystem. We are amongst the first builders on the nfts pallet on Assethub for example. Similarly we also created PRs for Subsquare and Kodadot in the past as we found bugs and built new features for the respective projects.
- We provide another interface (besides Polkassembly, Subsquare) for voting on OpenGov referenda (currently Kusama + Polkadot, more possible), that works in the browser and on mobile (besides Nova, SubWallet). We think it is important to have different options available.
- Our code is fully open source. We build with the latest tech and best practices. Our codebase is a valuable example for any current and future builders. Things develop fast and not every aspect of the ecosystem is well documented. In these areas especially using our code as an example will save future builders many hours of reaching out to teams for clarification and pain-staking debugging. We have gone through that process already with various ecosystem teams and through our lessons learnt helped improve documentation as in the example of KILT.
Show More
Overall 11 % of users are feeling optimistic. This innovative on-chain governance project holds high conviction for me as it has great potential to foster participation, a vital aspect for maintaining a thriving ecosystem. It's an exciting venture worth supporting due to its promising impact in the early stages of this technology.
Overall 22 % of users are feeling neutral. This proposal aims to retroactively fund Proof of Chaos (PoC) by utilizing our rewards creation UI and voting page, offering token holders power in decision-making while testing completed work beforehand. Despite concerns about skewed statistics from incentivized voting during peak adoption, the project has delivered results with sufficient data to draw conclusions. The first external artist has successfully minted rewards for referendum 99 using our UI, indicating potential for more participation and growth.
Overall 66 % of users are feeling against it. The text criticizes the proposer of a project on Kusamagovernance for allegedly fixing issues with their indexers only after facing threats from voters and questions the motive behind such spam projects. The author also expresses concerns over incentivizing voting through NFT rewards, suggesting that it may not be an effective or ethical approach to encouraging participation in governance.
AI-generated from comments
Guys, how on earth does the NFT reward the referenda participants? Who on earth would want to buy things that are supposed to be soulbound anyway? And why this app is worth $20k? You can do this on Unique/Quartz in 2 days and then add tonnes of features... Even if you want to do it on the AssetHub for ideological reasons, you can use our SDK to do that, again - few days of work. To me this sounds like kids playing with ideas that have no value outside of them having fun. Maybe I'm getting old...
Hi,
Thanks for taking the time to leave feedback.
Let me address your points one by one.
Guys, how on earth does the NFT reward the referenda participants?
We have seen that NFTs can be an incentiviser for governance participation as shown by the success of our Shelf Collection on RMRK2.
Who on earth would want to buy things that are supposed to be soulbound anyway?
By making the NFTs tradable you allow a market to form. This has been hugely successful with our Shelf Collection as voters and non-voters were collecting items. So much in fact that we are the most bought collection in all of RMRK2!
The market around the tradable NFTs is what turned an NFT incentive into a cash/KSM incentive (without directly paying out KSM). We sent something out for free that people associated value with and were willing to pay for. The vote numbers after we started with the sendouts in ref 171 speak for themselves.
Now there are of course use cases for soulbound NFTs as well. We will allow much more customisation for the NFTs as well as making them non-tradable. That way some creators could specialise in creating soulbound collections via our UI for referenda voters. It will be pick and chose. We want to build tools that give creators free reign on their creativity.
And why this app is worth $20k? You can do this on Unique/Quartz in 2 days and then add tonnes of features... Even if you want to do it on the AssetHub for ideological reasons, you can use our SDK to do that, again - few days of work.
Our Rewards Creation UI works as follows: get all the creator inputs for the rewards -> pin any relevant data to IPFS -> get all voters for a given ref -> calculate each voter's governance locks at ref expiry -> build a "luck curve" based on the locks for that ref -> calculate chances at epic, rare and common for each voter -> build all the required NFT transactions -> return a set of transactions (most likely multiple due to block size limits) ready to be signed by the creator -> once the transactions are signed we mint a config nft with our wallet that verifies that the sent out NFTs have been created via our UI.
That is just the rewards creation UI, one component of our website and project. Our mission is to incentivise governance participation. That starts with awesome voting UIs, which is what we also built. We offer features in our voting UI that to the best of my knowledge no other UI currently offers and hope to drive innovation here too.
I hope you can appreciate the challenges that go into building a project in this ever changing landscape and how many times along the way we had to reassess and pivot. Feel free to go through our github repository to see the work that been put in to get us here.
The project is definitely experimental in nature. While we did have great success with the first iteration of it, there are no guarantees for the future. Things move fast. We built what we believe is a great path forward for the project.
Proof of Chaos 2.0 eliminates the short comings we had with Proof of Chaos 1.0. With it we are now enabling anyone to become a rewards creator and reek the benefits (royalties). We envision that this will drastically drive competition and put creativity on steroids with the rewards themselves.
I hope this clears up things a bit. If you have any other questions don't hesitate.
Thanks again for taking the time!
You guys were dormant for so long and to make a proposal and ask for funds, you stared some activity again. I don't think this proposal brings any value.
Thanks for your feedback!
While we were a bit more quiet on socials, we have not been dormant. On Twitter alone we had at least 1 post each month updating on our progress. Many would have also seen us in various Element groups chatting with several ecosystem teams brainstorming on a path forward. All the while we were slowly building different parts as we had a clear picture. As mentioned in the proposal, a lot has happened in the nft space in Kusama over the past 9 months.
It was clear we had to move away from RMRK2 at the end of last year as the project was getting deprecated but it was not clear to where. Instead of building into a wrong direction we decided to wait for the dust to settle. Projects were deprecated and new ones emerged. Then the new ones were also deprecated again... Please note that the nfts pallet (the one we are minting nfts to now) only came in like march or april to Kusama...
That is just the nfts part though. Things for our Proof of Chaos 2.0 vision (decentralize rewards creation) also constantly changed as XCM got upgrades for example and usage around OpenGov became more apparent.
As such we fully ramped up development when we had a clear path forward again. This decision ensured the survival of the project as we were able to spread previous funding very far. This will have saved token holders a considerable amount of funds that could have potentially been invested in a wrong direction. Feel free to read more detail on this in the proposal.
But these are just words at the end of the day. Let's have the data speak for itself. Please check out our github commit history that disproves your argument pretty quickly.
I don't think this proposal brings any value.
Did you check out our rewards creation UI and voting page?
https://www.proofofchaos.app/kusama/referendum-rewards
Put your creativity hat on and do a mint! Depending on the referendum you chose to do rewards for, you will have to lock up probably around 4-7KSM for nft deposits (our UI will tell you before you sign the transactions). Once you do a mint, let me know and I will pay you the amount back out of pocket.
This is a proposal for retroactive funding. That puts us as builders on our back foot and is a pretty nice setup for token holders. All the power is with you guys. An added advantage is that you also have the benefit of testing the already completed work before making a decision. We as proposers believe that our product will speak for itself to convince token holders of the value.
So before making a bold statement such as
I don't think this proposal brings any value.
it would be great if you actually used our product to confirm that. I think that would be a pretty decent thing to do. Again, we are on the back foot here. Please put yourself in our shoes.
Appreciate your time and the opportunity you provided for us to clarify these points.
I like the idea of incentivizing participation in governance, but this line from your proposal is a dealbreaker for me: "only voters in a certain direction (aye/nay)". If you are willing to let your tool be used to buy votes, I can't support it.
Thanks so much for letting us know your reason for voting against this proposal.
Currently that is not how the rewards UI works. As of right now nfts are sent to both aye and nay voters with our UI and there is no way to change that. Feel free to use our UI to mint rewards for any referenda you like! When voters trade the nfts you sent out, you will receive royalties!
That being said, we want to provide tooling that allows creators to unleash their full creativity and can be used for all kinds of use cases. Let me give you an idea of where sending something only to aye voters might be interesting.
Specifically for content creators get more support on their proposals:
Let's say contributor X wants to create an in-depth report on Kusama.
X creates a referendum asking for funding for this report. In their proposal they show off an initial sneak peak of what their report will look like. X also clearly states that the report will be handed out to all aye voters (could make more requirements like min. vote amount).
All aye voters will receive an NFT that gives them access to the token-gated report via https://www.proofofchaos.app/kusama.
The referendum goes up for vote. All that consider the content valuable will likely vote in favor of the proposal passing as this gives them first access to the report. A report that is valuable will likely also drive secondary sales of the NFTs that give access to it. Maybe it will also work for non-content creator builders if they can offer some token-gated advantage to aye voters.
We are building token-gated content into our rewards creation UI: https://www.proofofchaos.app/kusama/referendum-rewards/
Other benefits: proposer will be able to earn royalties on the nfts that give access to the content -> alternative non-treasury revenue sources.
Drawbacks: the way we are thinking about this now, the token gated content itself would be centralized (living on our server). If anyone has a better idea let us know.
It will be up to the rewards creators to use our UI in any way they like. Some might want to use it to send nfts to only aye voters of a given referendum. Some only to nay and some will as you said prefer to send nfts to all voters. We provide the tooling and anyone out there can use it in any way they like.
Thanks again for your comment. Hopefully this clears things up for you. Let me know if you have any other questions/concerns.
Voted Aye
High conviction Aye from me. This is an innovative project worth supporting. On-chain governance is still in its infancy, and this could be an important way to encourage participation, which is crucial to the health of the ecosystem.
Thank you for leaving a comment. It is nice to see appreciation amongst the previous more critical viewpoints.
Thanks again for your support!
The first external artist has used our UI to mint rewards for referendum 99!
Looking forward to many more.
Currently the 3 main wallets voting against this proposal are:
- ChaosDAO
- G4RasQNUjgkXkdCuW2zgMJPcjZijaTmkJixb3oMxg9eiHng
- Paradox
We would very much appreciate it if you shared the reasons for your vote. Since both ChaosDAO and Paradox seem to share a passion for decentralisation and governance participation, we are particularly curious to understand the reasoning.
What we built with Proof of Chaos 2.0 was meant for groups such as yourselves. Since now anyone can mint governance nfts, collectively we can do so much more to push governance participation. That was the idea at least.
I am sad to see that you have not yet used our UI and furthermore are voting in a direction that would make it very hard to continue this project.
As mentioned above already, since this is a retroactive funding proposal we are on our back foot. It would definitely be regrettable if the journey ended here without you having actually tried out our tool yet. There are fees involved with a mint so I understand that there is a bit of a barrier for experimentation with our UI at the moment (this is why we are requesting subsidies to support minters too).
As such I would like to extend a personal offer to you: Do a mint with our UI and I will pay you back the fees you locked up out of pocket. Depending on the referendum you choose the deposit fees will be around 4-7KSM. Reach out to me after the mint and I will pay it back.
We believe that our product speaks for itself so would very much appreciate it if you took the time to play around with it. Reach out if you have any questions.
Really enjoyed the project until it was stopped one year ago. Tbh this just looks like an attempt to squeeze some extra money from the treasury. It is a NAY for me.
For other voters, please remember that this guy got paid 30K€ 8 months ago here: https://kusama.polkassembly.io/treasury/269
To deliver this: https://www.kusamagovernance.com
Pic at the time of writing:
@jackwithsnack Telling the same in my comment above. Ded project did some new useless work and wants $$
Thanks for taking the time Jack. I appreciate you bringing this up here since it was also brought up in the direction channel.
I have created a PR to notify the user to display an info box for updates to the project and am just waiting for this to get merged.
The dashboard code is complete but yes that project is not going as smoothly as anticipated. There have been a lot of changes with SubSquid and Squids are unfortunately not free anymore. With the current configuration we are running the cost would be at $500/month. There may be optimisations that we can make there to bring the cost down but that is obviously a significant amount. Things change all the time in this space and so I hope there is an appreciation for the difficulty of always delivering everything as originally outlined. There are things out of our control that will shift. I think anyone else building in the space will understand.
Nevertheless there were shortcomings of communication on my part and I apologize for that.
The dashboard was still running 2 weeks ago (although with wrong data due to multi-sig bug) before I shut down the indexer due the cost. So the timing here was just off. I have been focusing on the rewards creation UI as of late with Niklas but will give the dashboard some love again too.
Thanks again for that feedback and giving me an opportunity to explain that here too.
To try and rectify my short comings for the communication regarding the dashboard I have just sent an NFT with an update to all voters of that referendum via our UI :).
These NFTs could just be there first ones that get access to a token gated surprise as we roll out that feature!
The process could not have been smoother and I am seriously very proud of what we have built here. This is such a powerful tool for proposers (like myself in this example). Anyone that calls it useless has simply just not played around with it yet!
We can all verify that the NFTs have been minted by our UI by ensuring that there is a config NFT for the sendout in this collection. On the config NFT itself you can verify all the legitimate nft ids as well! The config nfts exist as a verification that nfts are not merely imitating the looks of the proof of chaos nfts but are indeed minted via our UI.
Thank you to the people calling out the dashboard shortcomings to give me the opportunity to do this sendout. That was actually very fun and reminded me to be proud of something pretty cool that we built which may not be appreciated by some here (yet).
The send out locked up a total of 4KSM in deposit fees. Actual transaction fees were negligible.
ChaosDAO would like to provide the following feedback from our community. We offer this feedback voluntarily in the spirit of OpenGov, in order to help teams improve their proposals so we can all build the network together.
-
Some members expressed dissatisfaction that the proponent stopped maintaining the dashboard from its previously funded project.
-
Some members shared their own past business interactions with the proponent.
-
Some members expressed positive opinions of the potential for a project like this.
ChaosDAO votes as a collective based on the results of our anonymous internal voting procedures. Our members are not required provide any feedback about why they have voted in a particular direction. Similarly, to respect our members' right to anonymity, we will not be sharing names of individuals who have chosen to voluntarily provide feedback.
Thank you for that feedback! Very much appreciated.
A big reason for the current nay votes on this proposal seems to be the dashboard (or lack thereof). Thank you very much for that feedback.
As I was focused on Proof Of Chaos 2.0, SubSquid has released ArrowSquid in beta last month with the fix to the multisig bug. I have spent the past few days upgrading our indexer to ArrowSquid from the previous version FireSquid.
As previously mentioned our indexer code was ready for FireSquid but I understand that people prefer visuals and need to see those chart be filled with data rather than looking at code.
I was hoping to complete the upgrade before the end of the voting period for this referendum but that is looking unlikely at this point. I will update as I have more info.
The dashboard for gov2 is now running on https://www.kusamagovernance.com/! 🎉
I've witnessed this project from start to hopeful end, it is an experiment in which results have already been delivered and there's sufficient data to draw a conclusion, for me at least.
From my perspective providing an incentive for voting works against encouraging logical voting, during this project's peak adoption, we've seen persons vote against runtime upgrades, clear Sybil voting and other gamed techniques to achieve the incentive. Statistics based on vote counts are skewed!
I also share concerns as it pertains to the character of the proposer.
Thank you very much for that feedback! It is great to have some reasoning behind your vote.
The goal of this project is to incentivise positive governance participation. No incentive is perfect but we want to be as close to perfection as possible.
Voting against runtime upgrades
Since votes that are against the outcome of a referendum are not locked up (irrespective of their conviction) users voted against referenda that were sure to pass (such as runtime upgrades) in gov1. When we noticed this we IMMEDIATELY implemented a fix that considers a voters amount locked in governance rather than vote amount: See here
clear Sybil voting
We spent a lot of time thinking about this and have a fix to this in our code using Encointer. Kusama governance votes that have a reputation score on Encointer have a higher chance of getting epic and rare NFTs. This section in our code is currently still commented out as the Encointer community is still very small and limited to certain parts of the world so this implementation might not be very practical yet and a bit unfair. Encointer = proof of personhood so by incentivising votes from wallets that have a reputation score we have a sybil proof system. Maybe it is time to implement this code to also help grow the Encointer community?
other gamed techniques to achieve the incentive
It felt like sometimes wallets were just follow voting in order to also get a reward. That is when we introduced quizzes. Wallets getting all questions right on the quizzes had a higher chance at epic and rare nfts again.
I also share concerns as it pertains to the character of the proposer.
Yes, we have not always seen eye to eye on governance and I have voted against some of your proposals in the past when I felt they were not in the best interest for token holders.
Add to Paradox's comment, he didn't fixed the Kusamagoverance indexers until people threatened to NAY vote this one, and then it was magically fixed within 2 days, it raises the question of proposer's motive with this kinda spam projects, when something is broken nobody fixes.
There were many looters or slow ruggers previously. I won't say this proposer is one of them, but what I want to relate is that how people making many shit stuffs and never maintained them until voters come after them, this one of the great example.
I as voter always against incentivizing voting as many tried to miss use this options. One example was Rich's proposal where he mentioned that AYE voters gonna be rewarded with NFTs through PoC NFTs for later.
I sincerely believe that Gabriel served the community greatly but this tool is now not necessary as bribing for voting is never accepted.
Thanks and Love.
@EffbiYjes5Dj37dcQeb6fDeuj5vrhUbZxvz98X5LHv4XeEX
Thanks for taking the time with that comment.
he didn't fixed the Kusamagoverance indexers until people threatened to NAY vote this one, and then it was magically fixed within 2 days
The code was ready (for FireSquid) the whole time. I was waiting for a fix to the multisig bug which was released with ArrowSquid. ArrowSquid was released a month ago in beta version (it still is in beta) and I lost sight of it a bit as I was working on PoC2.0 . So when people went onto the website and didn't see any data, they expected the worst. Checking the code would have disproven the theory that it was abandoned but that is my fault. It is not fair to expect people to go check the github repo to confirm that the work is done. At the very least I should have had a notification on the website.
So when I saw that this was a reason for some nays I of course made it a priority to prove to everyone that it was indeed done. I upgrade the indexer to ArrowSquid and started it up. This filled the dashboard with data again. So yes, I could update the indexer and get it up quickly again because the code was already done.
I don't suppose you have a lot of trust in me but I can assure the dashboard would have gotten done. I am actually grateful that the nay voters gave me the push to get it done asap since I don't like unfinished stuff.
people making many shit stuffs and never maintained them
A general note on this. Maintenance requires a lot of work if things are constantly changing. Things in the ecosystem have been changing super fast so at some point builders will have to chose between maintaining old stuff or innovating quickly and building new stuff. That is what SubSquid is doing as well. They now have ArrowSquid and will stop maintaining FireSquid. There may be some indexers that will not upgrade to ArrowSquid but keeping FireSquid alive for them would just suck to many resources. But yeah this doesn't relate to the dashboard. I regret not having done the upgrade a bit earlier but can't change that now.
I as voter always against incentivizing voting as many tried to miss use this options
A few people here seem to share that sentiment with you. Note that right now you can only send out rewards to all voters via our UI. Speaking of which: have you done a mint via our UI yet? If you do one you can shoot me a message afterwards and I will pay you the lockup deposit back.
I sincerely believe that Gabriel served the community greatly but this tool is now not necessary as bribing for voting is never accepted.
Thank you. That is actually much appreciated. Note that this is not a solo project anymore and Niklas is just as vital to the project. As stated above rewards are sent to all voters (aye and nay) via our UI. So yes it is an incentive but proposers cannot use it as a tool to sway votes at the moment.
Appreciate that comment.
Thanks and Love back.
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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.
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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
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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!
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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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