Home

InstantKarmaFund.org Presents

THE #DASH4Nigeria PROJECT

https://i.imgur.com/GaFCQpy.jpg

TL;DR:

This is a comprehensive approach to maximizing Dash adoption in Nigeria, addressing all necessary factors to establish a continuously-growing user-base
in the country of 186M+ people and 200M+ English-speaking Africans in other countries. This will be done through educational programs such as establishing
an online African DASH school, meetups for average users and for merchants, creating exchange gateways, and more – culminating in a DASH outreach conference
in Lagos at the end of December. This proposal will also benefit from documentation, fund security and performance-based escrow services provided by
InstantKarmaFund.org.

All events will be recorded and documented with pictures and/or video.

DASH adoption in Nigeria is currently on a steady rise that this proposal will accelerate. The action plan of this proposal will result in the
beginning of a DASH-based economy in a major African country and set fire of desire to other English-speaking African nations.

About the Proposal Owner:

https://dash-africa.com/wp-content/uploads/2017/11/Nathaniel-Luz-e1509686338822.jpg

Nathaniel Luz (discord “rotc”) is the contractor of this proposal and is a Certified Creativity Strategist, Events Planner, Social Entrepreneur and
libertarian resident in Nigeria. In the last year, he facilitated events in Nigeria, Ghana and Cameroon in the campaign he refers to as the “Rise of the
Cheetahs.” The Cheetahs are the fastest generation of Africans. He believes this generation will help Africa catch up with the rest of the world. He has
recently been given an award by studentsforliberty.org, a global non-profit promoting liberty around the world, in recognition of his works towards a freer
society in Africa. He has thus far organized 3 DASH meet ups and one outreach presentation amidst several one-on-one meetups in Nigeria.
You can see his resume and achievements at https://dash-africa.com/nigeria/

Pre-Proposal Discussion Link:
https://www.dash.org/forum/threads/dash-outreach.17490/

BACKGROUND OF THE PROJECT AND EXPECTED OUTCOMES

1.DASH EXCHANGES

Due to previous outreach, there is some knowledge about DASHin Nigeria, however, there is a need for more exchanges to meet the current and
growing demand for DASH from existing and new users.

There are exchanges online, but several newbies prefer to just place a call, transfer some fiat to the seller’s bank account and receive
the DASH in their wallets in a couple of minutes. Our solution is to contact existing local bitcoin traders, get them together into forming a network that
trade DASH locally on https://www.dashous.com/. We believe a “local bitcoins” type of website such as Dashous will be very helpful in Nigeria and Africa in
general. This would make DASH more easily-accessible for those new adopters to purchase with fiat. We’d also work with some upcoming online exchanges that
focus on the Nigerian market to integrate DASH as well.

2.AFRICAN DASH SCHOOL

At the recently concluded DASH outreach, participants were eager to learn more about DASH. In the past, we’ve carried out follow-up
education via WhatsApp groups. This time, we’d love to create an online, free DASH school Youtube series. This school would be bilingual (English and
Nigerian Pidgin English). While we know that Amanda B Johnson has done a great job here already, our series would range from Episodes 1-5 and would be
specifically for the Nigerian audience. Also, it would be easier for Nigerians to learn from another Nigerian due to diction, intonation and other
differences. The videos would reach over 1,000 people in the first month of release. The English version would be targeted to all English-speaking
Africans.

The contents and presentations of this school would be created and streamlined for the Nigerian audience. The bilingual mode would enable us to cater to a larger English-speaking African audience. There are more than a dozen African countries where English is an official language. These include Zimbabwe, Uganda, Zambia, Botswana, Namibia, Kenya, Sierra Leone, Liberia, South Africa, and Nigeria. The population of English-speaking Africans is 380M+.

3.MERCHANT ORIENTED MEETUPS

Many merchants are ready to begin transacting in the DASHeconomy. However, we need to provide a bit more education for them as to allay
their fears on price fluctuations, and some publicity materials regarding it. We will have a monthly meeting with the DASH merchants to adequately
respond to any issues that may arise. These meetings will create a stronger bond for the DASH merchants, traders / exchanges and improve customer experience
when participating in the DASH economy.

4. CONTINUOUS MEETUPS

The need for more outreaches cannot be over-emphasized. We’d continue holding meetups all over the country.

5.PARTNERSHIP WITH OTHER ORGANIZATIONS

We will partner with organizations who share the same ideology with us and speak at their events. We will do presentations to the audience
and members and have an inquiry desk at the event were people could come for more information.

6. DASH NIGERIA CONFERENCE

All activities above will be crowned with a major outreach presentation at the end of the month in Lagos, Nigeria’s capital of trade. The outreach would have a conference with about 100
participants and would reach over 200 people in total as there’d be other activities besides the conference.

Budgetary Items:
1. Production of publicity materials (banners, rollup,stickers, shirts, etc). 4.25 DASH
2. African DASH School on Youtube (Dual language) 11.25 DASH
3. DASH Meetups in Different Locations in Nigeria 4.25 DASH
4. DASH EXCHANGES Meetups 5.75 DASH
5. Businesses and Merchants Adoption Program 4.25 DASH
6. DASH NIGERIA CONFERENCE 4.25 DASH
Contingency Fund 1 DASH
IKF Management/EscrowFee 5 DASH
ProposalFee 5 DASH

Total is 45 DASH*
*As with all InstantKarmaFund proposals, the total requested is based on a 30 day moving average price of Dash calculated up until the day before the
proposal is submitted.

About InstantKarmaFund

InstantKarmaFund was founded by “djcrypto” on the Dash forum and slack. He was awarded “DASH MVP” by Dashforcenews.com.
His associate, “tallyho” (also DFN MVP award winner) helps with website maintenance and design. They are both longtime Dash investors (2014) and want to help strengthen the Treasury process and reduce potential waste due to fraud or non-performance of stated objectives.

InstantKarmaFund.org provides proposal management services to the DASHnetwork.

The three pillars of IKF are as follows:
1) Put forward the best proposals related toeducation of DASH and philanthropy that will have real returns and impact
2) Manage and format the proposals so that they areeasy to understand, and have verifiable, realistic and value-driven objectives
3) Provide secure escrow services that are performance-based:There is no need to put DASH at risk by having it stolen or through
non-performance of proposal objectives.
a. IKF will disburse funds on an as-needed basis,after confirming and documenting completed objectives at instantkarmafund.org
This is to insure the DASH Network is getting the best value possiblewhile still providing funds necessary for the contractor to complete their
work.
b. Any funds remaining due to non-performance of the contractor will be donated to DashDirect.io

For these services, IKF charges a flat fee of 5 Dash/mo/proposal or 10% of the proposal amount, whichever is greater.

Follow along at instantkarmafund.org for more updates coming soon!

[Less…]

This proposal is cross-posted from https://www.dash.org/forum/threads/proposal-core-team-conferences-travel-july.38561/

Over the second half of 2018, Dash Core Group (“DCG”) would like funding to participate in a number of conferences as well as for general company travel. The conferences portion of this includes organizing an exclusive Dash conference (similar to last year, which was a resounding success), ensuring a presence at Money 20/20 China (November 2018) and participating in a handful of smaller conferences. General company travel includes the cost of traveling to: 1) conferences; 2) client-facing meetings with strategic partners and institutions; 3) internal travel for team members to meet face-to-face to align and execute on strategy.

As previously communicated, DCG was initially going to request between $200,000 and $250,000 in funding in order to make a significant contribution toward upcoming conferences (early bird sponsors/registrants typically get discounts and savings off of the list price). However, even this amount wouldn’t have covered our anticipated costs given that the price of the Dash conference, for example, was ~$330,000 last year.

The current conferences and travel budget is completely depleted if we take into account our current assets (including the budget proposal that was just funded) versus committed liabilities. Given the budget constraints this month, we have decided to request $125,000 to fund our conferences and travel budget. This will allow us to cover general travel expenses for Dash Core Group Inc. employees and subcontractors, and to start making commitments towards the execution of the planned conferences.

We have decided to delay posting a request for significant funding until our conferences strategy is fully planned to avoid disrupting the Dash budget at this time. At some point in the near future, when the costs of the various conferences are more defined or when the current pressure on the budget is alleviated, we will come back to the network to request additional funding.

If you have additional questions, please direct them to @fernando

Requested funding is as follows for the July 2nd budget cycle:
393.00 Dash ($125,000@$317.977 / Dash)
5.00 Dash proposal reimbursement
Total: 398.00 Dash

Should any funding remain, we will apply it toward future conference expenses.

[Less…]

Dash Core Group October 1st Funding Proposals
DCG is submitting 5 funding proposals for the October 1st budget cycle:
1) DCG Comp (Developers and Operations): $325,000 (here)
2) DCG Comp (Administration): $100,000 (current proposal)
3) DCG Comp (Bus Dev / Marketing / Cust Support): $75,000 (here)
4) DCG Business Development: $160,000 (here)
5) DCG Public Relations: $40,000 (here)

Note: Over the past 2 months finance has worked on managing, calculating and optimizing our tax liability. We identified a number of opportunities to lower our tax burden during that time and validated those opportunities with tax experts. We developed legal arguments to enable certain tax treatments of assets and transactions that lowered our estimated tax obligations. Ian Rawluk, who recently joined the finance team, was instrumental in driving the effort over the finish line.

As a result of these efforts, we will not need to submit a 3rd tax proposal related to the first quarter of fiscal 2019. We expect our current tax funds to be sufficient to cover us through both fiscal year 2018 and fiscal year 2019.

This Proposal
This is a cross-posted from here

If you have already read one of the other compensation proposals please skip to the section titled “What does this specific proposal fund?”. The next two sections are duplicated in all three compensation proposals.

Note on DCG Compensation Proposals This Month
Last month’s compensation proposal finished voting with “no” votes constituting greater than 10% of the total votes cast. This triggers a commitment by Dash Core Group (“DCG”, “we”) made in a compensation proposal from April 2017 to break out the core team compensation into separate proposals. Despite “no” votes breaking the 10% threshold, the September compensation proposal had overwhelming support; it had the 3rd highest net vote count even though it was competing with numerous multi-month proposals.

The compensation proposal from April 2017 stated that: “Core team salary proposals have been highly supported by the network. In fact, in last month’s budget, the least-supported of these proposals received 989 “yes” votes to only 20 “no” votes. Continuing to break out individual budgets is time-consuming, costs additional resources (proposal costs), and seems to add little value given the current level of support for these expenses. If in the future more than 10% of the votes cast for core team salary are “no”, I can solicit feedback on what the network would like separately voted upon, and attempt to provide the requested additional granularity in future budget cycles.” Link: https://www.dashcentral.org/p/core-salaries-201704
Many of the MNOs voting “no” this most recent cycle commented that they were voting “no” specifically to trigger a breakout of the budget, either to gain greater insight into the allocation of those funds, or to allow them to express which functions they support.

This month we will be providing the network with 3 compensation proposals in order to fulfil our promise to provide additional granularity. Those 3 proposals will consist of: 1) Developers & Operations, 2) Administration, 3) Business Development / Marketing / Customer Support. If all three of these proposals pass we will no longer provide granular proposals for the remainder of 2018.

There are numerous reasons for not providing granular proposals in the future:
Beginning in Q1 2019 Masternode owners will have a mechanism to decide how Dash Core Group organizes / pays compensation by electing Trust Protectors. This is a far more “direct” way to influence our operations, as the elected Trust Protectors will be elected based on how well their “platform” matches the desires of the network (e.g., “DCG should do x and shouldn’t do y”). A full description of that process can be accessed at the following link: https://www.dash.org/forum/threads/dash-core-group-legal-structure-details.39848/#post-194362 We strongly believe that by equipping masternode owners with a tool to enact change at Dash Core Group, we will no longer have to provide granular proposals for compensation as the proposal system is a crude tool at best for providing that type of direction.
At Dash Core Group, we work as a cohesive team and it is disruptive to the organization to have the potential for a part of the group to not get funded when there are many interdependencies between internal departments.
Submitting individual budgets is time-consuming and costly; this time can be better spent in ways that benefit the Dash Network.
Submitting individual budgets reduces the effective size of the DAO budget, by consuming additional proposal fee reimbursements.
There is little value given the level of support for these expenses (as aforementioned, even though the September compensation proposal had over 10% of “no” votes, it still passed with the 3rd highest net vote count even though it was competing with numerous multi-month proposals).

Background Common To All 3 Compensation Proposals
During the last quarterly call, we committed to requesting no more than 40% of the total Dash DAO budget for run-rate compensation expenses. In addition to that amount we plan to continue requesting funds from the network to build a buffer in our compensation account and funding of other projects. We are separately targeting all of our proposals to not exceed 60% of total available funding from the network. This will ensure substantial resources remain available for other entities serving the network, regardless of whether all DCG proposals pass.

As the price of Dash declined into the $130s at one point in August, several actions were taken to reduce our run-rate to ensure we can abide by these thresholds. Specifically:
Individuals on the DCG Board and 2 senior staff members elected to voluntarily reduce their own compensation rather than reducing team size or impacting compensation rates. This action was taken with the understanding that the reduction will remain in place until the desired core team compensation budget buffer is established and the Dash budget can sufficiently cover our ongoing run-rate costs. While individual situations and ability to reduce compensation varied, the cuts amounted to approximately 45-50% of our Board members’ and the senior staff volunteers’ compensation.
Research into graphene scaling solutions are no longer paid out of the Dash Core Group budget. This research was transitioned to ASU when the 2018-2019 academic year began last month.
Through natural attrition, two contracts expired and were not replaced.

We have two primary goals when we manage our compensation account. First, we need to ensure that our run-rate is sustainable at current prices. Second, we must build up a sufficient buffer that serves as protection against a prolonged period of time were the price of Dash stagnated in the low to mid- $100s or below. We continue to build our buffer each month, but our current projected “buffer” for September will be ~$270,000 – which doesn’t even cover the compensation liability we will incur in September.
We also continue to have a hiring freeze in place. We do not intend on unfreezing hiring or reversing the voluntary reductions until both the price of Dash is sufficient to maintain our run-rate and we have put in place a significantly larger buffer.

What does this specific proposal fund?
This proposal funds Dash Core Group’s ongoing run-rate compensation costs for DCG administration. This includes finance (2 staff), strategy (4 staff including 1 intern, product management, and data analysis staff), corporate (3 staff, including CEO, board member and 1 admin), and human resources (2 staff). We believe that all of these departments are essential for DCG’s operations to continue to run smoothly.

This is additional granularity related to the administration department:
Full-time staff*: 10
Part-time staff**: 1
Total staff: 11

* Defined as contracts permitting staff to bill up to 40 hours a week
** Defined as contracts permitting staff to bill less than 40 hours a week

We are asking for run-rate funding of $80,000 as well as a buffer of 25% to account for price fluctuation and continue building our compensation account. The total funds requested are $100,000.

Requested funding is as follows for the October 1st budget cycle:
· 525.00 Dash for core team compensation ($100,000 USD @ $190.5 per Dash)
· 5.00 Dash proposal reimbursement
Total: 530.00 Dash

Note: Should any funding remain, we will apply it toward future compensation expenses.

[Less…]

Dash Watch is submitting a single-month proposal for the February 2019 cycle to continue providing verification, accountability, and reporting to Dash-funded proposals for the MNO community.

Dash Watch’s Proposal January Report HERE

Monthly Report Documents:
July 2018 HERE
August 2018 HERE
September 2018 HERE
October 2018 HERE
November 2018 HERE
December 2018 HERE
January 2019 HERE

Past Accomplishments:
350+ Dash Watch Reports, Community Concern Reports, Financial Reviews, Proposal Owner Interviews, Proposal Owner ID Verification, dashwatch.org, dashwatchbeta.org

Dash Watch performed a comprehensive review of all funded proposals to identify common pain points that can be addressed in the pre-proposal phase and relayed that information for Nexus to utilize. A summary of these results can be found HERE.

Milestone verification has been added to all reports, allowing MNOs to easily see which milestones listed by the proposal owner have supporting documentation and are verified as being complete.

Recent Accomplishments:
In January, Dash Watch produced 21 monthly reports for Dash-funded proposals, two financial reviews and two video interviews with proposal owners that received 500+ views. Dash Colombia and Dash Nexus

We have been conducting regular monthly financial reviews of community-requested and or randomly-chosen proposals to ensure the expenditure data provided is accurate and validated. With our financial review of Dash Merchant Venezuela HERE receiving over 200+ views.
Key Performance Indicators (KPIs) have been expanded and customized for proposal categories, and we have now collected five months of detailed category-specific KPI data that can be viewed in recent and upcoming monthly proposal reports. This month we are beta testing some comparative KPI visualizations to allow MNOs to compare proposals delivering the same KPI metric.

Ongoing Work:
Assisting DCG with the Trust Protector candidate verification and election process.
Financial reviews for Dash Venezuela and Dash India Remittance will be completed in February
Video interview with Eugenia from Dash Venezuela
Video interview with Fernando from DCG about the Trust Protector election
Future Plans
Continue producing detailed monthly reports on active and ongoing proposals
Interactive data visualization for Dash Watch reports (public beta this month)
Proposal owner video interviews focusing on the status of their proposal
Continue detailed verification reports for proposals that require additional attestations and due diligence work
Dash Watch reports posted on Dash Nexus when this feature becomes available
Continued financial reviews for active and ongoing proposals
Please feel free to contact us at [email protected] or on Discord as paragon, DashWatchTeam, MattDash, peytondw, or Dash-Al
Thanks for your support and we look forward to continuing to serve the masternodes and the community

Three person research and report team$10,000.00 126.58 Dash
Web Hosting/Software/Miscellaneous$400.00 5.06 Dash
Video Creation and Editing $500.00 6.33 Dash
20% Contingency (less than 20% because of rolled over funds) $317.80 4.02
Dash conversion rate: $79
Total: $11,217.80 142.00 Dash

[Less…]

This proposal has served it’s purpose and has been retired in favor of other new projects. Please vote “NO” on this proposal to actively remove it from the payment queue. Thanks!

—

The core team has already proposed that the funds associated with the Public Awareness budget would be much better spent on accelerating development and on creation of fiat gateways. See the full post from Dashtalk here.

Some in the community asserted that – even though people that disagree with the reallocation of resources have the ability to vote the Public Awareness proposal down – it is a bad precedence to set regardless of the fact that 1) we were confident that the community would agree with the change, and 2) most people seem supportive even if they disagree with the process (e.g., “ends justify the means”). So why didn’t we just ask the community to vote out Public Awareness and vote in the new proposal? Several reasons:

1) It would constitute a great deal of collective effort – not just for the core team, but for all the MN owners to go in and down-vote P.A… All for a project that we have a high level of confidence would pass regardless.

2) It would also pose a significant risk that we might not get enough actively downvoted MN votes to kick out the PR budget within the 6 days before the budget finalized. The P.A. budget enjoys lots of support, and sitting at 42% support at the time we made the change, the core team alone couldn’t vote out our own proposal. The ability of a proposal owner to revoke or cancel its own proposal isn’t a function of the first budget system. Without getting it downvoted properly, there could have been unintended consequences (like PR still funding, the new proposal ALSO funding, which could then cause a bunch of other valuable projects to NOT receive funding).

3) The final rationale is that if the core team misjudged the reaction of the community, we are being transparent about the change, so the community is STILL FREE to downvote the PR proposal if it disagrees with how the money is to be spent OR the manner in which we redirected funds.

All things considered, we thought this was the better path to take given we are 6 days from budget finalization. However, some community members – while they understood these points and support the change – are still concerned. I had proposed on Dashtalk the idea of putting a “decision proposal” out to the network in lieu of simply the announcement of the proposed change. I think this approach still addresses the “downvote risk” in #2 above, but also ensures that the change can only be made by getting the necessary votes, and not by simply slipping a change through before absent MN owners notice. This should allow us to “make it official” with community support, while reducing the risk of a full downvote of the old and upvote of the new. The reallocation will only occur with the community’s official approval.

[Less…]

We would also like to propose we raise the Dash block size limitation to 2MB to prepare for the future growth of the network. We want to know if the stakeholders support this idea. For this, we would like the nodes to vote using our decentralized governance system to make sure we have the community behind us.

With the current 1MB block size limit we have approximately 4x the capacity of the Bitcoin project in transactions per second capability, due to the 2.5 minute block spacing and a current 1MB blocksize. With our current limitations our network could theoretically allow nearly 28 transactions per second. We propose a change to a 2MB block size limitation, allowing up to 56 transactions per second. This will allow the currency to grow to approximately 8x the current transactional capacity of the Bitcoin project. It is important to plan for the long term success of the network and future adoption, by making this change we will be ready to scale and also give ourselves ample time to continue research and development to look for additional ways to improve efficiencies of the network.

The reason why raising the block size limit is not a centralization concern on our network is because of the full node incentive model. As the volume and usage rise on our network, the profits of the masternode network will also increase, creating excess funding to process the extra bandwidth without losing decentralization. This is in sharp contrast to projects without a full node incentive program, due to the inverse relationship between the full-node count and bandwidth requirements.

To implement 2mb blocks and prepare for Evolution, we must take care of some security concerns as well. There is a concern even with 1MB blocks that an attacker could add a transaction that takes 30 seconds to process, with 2MB blocks it’s actually possible to add a 10 minute script to process (https://www.reddit.com/r/Bitcoin/comments/3yulwv/any_examples_of_the_10_minute_script_thats_a/). To close these attack vectors there will be no more “ completely free” transactions in blocks, instead we will use a flat fee per kb when adding transactions to the blockchain that should be negligible for normal usage. This can be done via the spork code, which can set system-wide variables in the code. Once set, all blocks will be subject to this limitation, otherwise will be rejected by the network.

As far as determining if this proposal passes, we will consider more yes votes than no votes approval by the network as long as more than 33% of the network votes. If less than 33% of the network votes, we will consider the proposal denied and will not raise the blocksize limitation.

If approved, a proper development, testing and deployment process would start before it reaches production. Let’s give Dash room to grow.

[Less…]

https://lh3.googleusercontent.com/1NKV377f7iKi7wiOs3IgY9CQ_fbLoO0LlbMAqtiAPkZZARmOq_282UtpfuhF80y6AUfOzAm4fWop_Th_GvQkuyFaFJFAkJ-XxLBfd2Y4jr87j8n8nQGwOJoGEfSpO5xdnlz1olNR

One of the best things that came out of Bitcoin Miami, was an invitation to the Satoshi Roundtable. For those of you that are unaware, the Satoshi Roundtable is an invitation only event that helps those very close to the Bitcoin project to organize and talk about some of the most pressing issues that are happening in the space. We’re really happy to be invited to this event and get some time to chat with the Bitcoin core developers, along with talking to large stakeholders in the Bitcoin ecosystem. Building these relationships will be critical to our long term success as a currency and project.

From the core team, Daniel Diaz and Evan Duffield will be attending the event. The tickets were $2450 per person ($4900 total), then $440 for Evan and $660 (not sure yet) for Daniel. Due to the full budget we’ll be spreading out the reimbursement for this over two months.

A special thanks goes to Michael Terpin for helping us set this event up.

[Less…]

UPDATE:

Keep updated on our progress at our blog or on Twitter

Intro

To drive adoption of Dash one of the important pieces of infrastructure required is a high quality Dash exclusive payment gateway with instant fiat conversion. Bitpay and Coinbase have been instrumental in encouraging merchants to add Bitcoin as a payment option on their sites.

We are proposing to create a high quality Dash to fiat payment processor. The only currency we will accept is Dash.

A short presentation to complement the text below is available here. The DashTalk thread can be found here.

Demo

Visit our website at dartpayments.comwhere you can sign up to our mailing list or click through to our demo site.Dashstickers.xyz is an early working demo of our processing and conversion software. You can purchase two Dash vinyl stickers for only $2.

Be aware though this is early software and that you can get in touch with us at [email protected].

Amount requested vs. costs

We propose to request 400 DASH from in each of the next 3 budget cycles. This will provide us with capital to develop a beta version of our software for select merchants to implement on their sites. Costs are very much an open ended question, we’ll build as much as we can with the funds received. We expect to contribute additional funds from our own pockets on top of the DASH we receive from the budget.

Note: Amount was chosen when there was still 455 Dash available in the next budget (currently 400 left).

Equity to Dash Foundation

As this is a for profit business we accept that we should give something back to the Dash community (in addition to building important infrastructure to drive mainstream Dash adoption) in return for funding. For every month of funding we receive we’ll be offering 5% of the business to the Dash foundation (total of 15% should we receive funding for all 3 months).

It has been suggested that we give the equity and associated (future) dividends straight back to the network. At this stage we see no technical or legal framework for doing so. We will encourage the Dash foundation to gift the equity to the network if it becomes technologically and legally feasible at some point in the future.

Pre-proposal consultation

Prior to submitting this proposal to the network we engaged in discussion on DahTalk.org with members of the community to help understand any concerns they have and potential ideas that could be incorporated into the proposal or product.

Dash business development head Daniel Diaz (DashTalk username ‘Minotaur’) commented:

“I think this is a good project, it is well aligned with our overall goals of facilitating access to the Dash economy and more importantly it would very quickly lead to Dart payments cold calling and selling merchants on accepting Dash. I think we should support initiatives like this that are directed at bringing new businesses into the Dash economy in a very direct way with the possibility of having short term results. This is outward facing and should result in growth, for the modest amount of 1200 DASH over 3 months, I think is something we should all support.”

How the system works

After a merchant integrates Dart Payments into their site customers will see a “Pay with Dash” button in the checkout. When clicked information about the transaction is sent from the merchant to our database and a payment window/popup appears. Once we receive payment of the Dash to our wallet we send confirmation back to the merchant that it has been
paid.

On the back end we instantly convert the Dash into fiat currency (using BTC as an intermediary until there is a DASH to fiat exchange with enough volume). Daily deposits of fiat will be made to the merchant’s bank
account.

Revenue

We expect to charge a flat 1% fee to all merchants. We will likely offer the first $X of transactions fee free to encourage merchants to sign up. There is also the possibility of tweaking our conversion system to make gains on exchange rate movements.

Who are we?

Long time cryptocurrency enthusiasts with a keen interest in Dash since early 2014.

Henry McKay – Commerce student at Monash University in Melbourne Australia. Currently working in Christchurch, New Zealand over the summer. Finance lead for rLoop (SpaceX Hyperloop Pod Competition entrant).

Angus McKay – Recently Completed a diploma of web development. Currently working on various personal projects.

There’s not much available online about us, and we value our privacy (like many Dash users). A couple of trusted community members have verified that we are long time Dash users.

[Less…]