[DISCUSSION] Metamouse x BitDAO

Proposal Title: [Proposal] Metamouse x BitDAO

Author: Roman Aleksandrovsky, Metamouse Core Team

Date: 5/25/2022

You can reach us directly through billion@metamouse.cc or Roman Aleksandrovsky can be reached on Discord: ZooMie | metamouse.cc#5040 , Telegram: @BornTL, Email: roman@metamouse.cc or via the handle @ZooMie

Following feedback, this is a revised proposal. Previous versions can be found in the edit panel.

ABOUT US

Metamouse ( metamouse.cc ) is a Fiat Payment Infrastructure for DAOs, Web3 and their communities. We are the “rails” connecting the Web3 and Fiat worlds.

Thanks to Metamouse, any DAO or other Web3 project, as well as ordinary users, can pay Fiat bills without going through KYC in almost any country in the world.

Among our partners, there are already such projects as: mStable, Integral, DFX Finance, Stasis, Zilliqa and many others.

Valuable Links

Website: ://metamouse.cc/

Application: ://app.metamouse.cc/

Discord: ://discord.gg/xXGwfut8YH

Twitter: ://twitter.com/MetaMouse_pay

Presentations

Pitch Deck: ://metamouse.cc/pitch-deck/

Presentation for DAO: ://metamouse.cc/wp-content/uploads/2022/04/For-DAO.pdf

HOW

Metamouse was created as an idea to ease all financial processes for Web3 projects and remove all additional costs associated with the financial part. We also want to simplify the process of paying Fiat bills as much as possible, so we decided to use the P2P model to work. On the one side, there is a user who needs to pay their bill, on the other side there is a network of peers who pay users’ bills. These can be both legal entities and private individuals. All peers go through full KYC, internal analysis and only then have the opportunity to join the metamouse payment network.

This solution allows us not to collect KYC from users. However, Metamouse makes a background check on the source of crypto to make sure it’s not coming from illegal activities. In addition, metamouse performs a check of the recipient of fiat funds to make sure payment is done to legit recipient.



DETAILS

Metamouse supports payment in almost all countries of the world, except for blacklisted countries such as North Korea, Iran, etc. Also, all payments are made within 24 working hours ( 1-2h on average ). You can find all supported fiat and crypto currencies in our app ( ://app.metamouse.cc/ ).

The business model of Metamouse is based on receiving a commission for each transaction. At the moment, the commission has a fixed rate of 3%, regardless of the amount of payment. The commission is also shared between verified payers who receive 40.0% ( 1.2% of the total payment amount ) and Metamouse keeps the rest ( 1.8% of the total payment amount ).

Unlike alternative solutions, Metamouse has such advantages as a wide geography, the ability to avoid additional fees, expenses for the legal part, etc. All this allows the Web3 organisations to save time and money.

KEY POINTS

We plan to become a complete payment infrastructure for Web3 and their communities, which requires both development resources and a complete solution to all legal difficulties. Now Metamouse is under our main project - Licensed crypto exchange ://Altercap.com

Links to licenses

Altercap OU ( Estonian Company, Licensed to operate in Europe ): ://mtr.mkm.ee/juriidiline_isik/275523/valjavoteEdit?tulemus=Tegevusluba

Altercap LTD ( UK Company, MSB License ): ://www10.fintrac-canafe.gc.ca/msb-esm/public/detailed-information/msb-details/7b226d73624f72674e756d626572223a3136363936332c227072696d617279536561726368223a7b226f72674e616d65223a22616c746572636170222c2273656172636854797065223a317d7d/

The first step, which is already in progress, is to launch a separate Metamouse DAO and create our own native token. Since the product is created for DAOs and Web3 projects, the best option would be to transfer control over important decisions in our project to the community.

What is required for Metamouse?

Total required investment: 2.5$M in crypto ( USDC / USDT / DAI or other ).

The total amount can be divided among several DAOs wishing to invest in Metamouse. Minimum ticket: 50.000$ in crypto.

What does BitDAO receive?

  • Metamouse Token equivalent of invested amount ( a more accurate amount will be specified in the next update, as soon as metamouse token is launched ).

  • These tokens remain locked for 12 months in a time-locked contract.

  • Reduced commission fee for Metamouse Token or BIT holders.

What will the raised funds go to?

  • Metamouse Crypto Cards ( Analogue of Bank Cards )
  • More Fiat Currencies
  • Geography Expansion
  • New Coins and Tokens
  • Recurring payments
  • API for payment institutions
  • Metamouse Widget ( Ordinary businesses can accept crypto payments without interacting with it )
  • Dashboards for Users and Verified Payers
  • Marketing Campaigns ( including brand awareness )
  • Community growth
  • Consultations and legal part

How long will implementation take?

12 months ( +6 months in case of force majeure ).

How our proposal will benefit BitDAO?

  • BitDAO сan transfer all expenses to Metamouse and participate in testing new solutions (e.g. now crypto cards without KYC requirement).

  • Risk diversification and income due to holding Metamouse Token.

  • BitDAO representatives and holders can participate in new decisions about the development of the project.

  • BIT integration for paying bills via metamouse.

  • Reduced commission for holders.

What will be our next steps if proposal accepted?

  1. Preparation of all information about tokenomics and the final offer.
  2. Pass an BitDAO governance vote.
  3. Increasing the team for faster project development.
  4. Building and rolling out updates.

Thank you for your time and please vote! If you vote “NO” or “Needs Work”, then please leave your comment why, we appreciate your feedback!

Would you like to see this proposal go to vote?
  • Yes
  • No
  • Needs work

0 voters

11 Likes

Dear BitDAO Community,

May I ask someone to run poll in this proposal?

Thanks,
Roman

3 Likes

You should be able to set up your poll now

1 Like

Poll created, thanks!

2 Likes

That’s an interesting proposal.
Appreciate clarification for these:

  1. How you arrived at the valuation ?

  2. The proposed mechanism does not seem to be ‘trustless’, nor appears better than ‘trust’ based conventional alternatives !! What do you say about it?

  3. Also it helps if you can enlighten the challenges you had to face while signing up your first few clients so far.

2 Likes

Your project looks beautiful, but what I don’t understand is that bitdao is a project whose price has been falling continuously since it entered the market, and it is a product that has no investment demand. Our treasury is constantly decreasing and losing value because the managers cannot managers this huge treasury. This may be due to the incompetence of our managers. If I am not mistaken, you will give our managers a say in your project, don’t you worry about the bad management of your project by the managers who cannot manage this huge treasure and do not listen to their investors and cause more damage every day?

2 Likes

I think the idea of tying crypto to fiat bill-pay is intriguing because it enables people who want to only transact in crypto to supply basic needs.

2 Likes

Hi Kravi!

  1. We combined our current revenue traction after 3 months of operations, numbers we can get by ourselves within next 6 months, current market volumes and growth potential

  2. Though we are working on making this more decentralized, we are not trustless. Unfortunately, when you deal with fiat, there still needs to be a single entity that controls the payments. We can automate part of the flow using smart contracts, however, this will make transactions more expensive on certain networks, e.g. ETH and is still not possible for networks, that don’t support smart contracts.

  3. DAOs decision-making is not the same as at centralized companies. Sometimes, it takes more time to switch to metamouse from how DAOs are currently paying in fiat

1 Like

@ZooMie an interesting proposal :thinking:

How would you describe MetaMouse’s position (feature comparison) against the established Crypto card offerings, from say Crypto.com, BlockFi or any of the exchanges offerings in that space?

2 Likes

Hey @numune!

No, we have clearly planned budgets for all our tasks and we understand where we will spend every cent. Thus, all funds received will work for the project and develop it. We also know all the pains of our potential users and the first thing we will do is close them, which will give a strong boost to our project on the early stages.

Best regards,
Roman from Metamouse

2 Likes

Dear @todreamalife!

Our team is of the same opinion :slightly_smiling_face: In general, the Metamouse ecosystem implies that you will almost never need a bank for everyday life (with rare exceptions).

Best regards,
Roman from Metamouse

2 Likes

Hey @monkey_scratch_head!

We are not competing with them directly. This is centralized service, where you need to store your crypto in order to spend it.
With metamouse you don’t need to store any crypto and you can spend exactly what you need from the wallet.
In addition, DAOs are not capable to be onboarded on crypto.com, as there is no legal entity. With metamouse, any DAO can start using the service straight away.

Let me know if you have any questions! :slight_smile:

Best regards,
Roman from Metamouse

1 Like

What problems do your potential users have and what are your ideas for solving them? Can you talk a little bit?

2 Likes

Sure!

P.S. I encourage you to also check out our pitch deck as it depicts the issues more beautifully. :slight_smile:

But as an example, these are recurring payments for DAO. This requires a bank card. DAOs themselves cannot receive a bank card or other similar binance type, as they need to go through KYC. The only way out at the moment is to pay from the personal accounts of the contributors or the core team. This option is not a solution and may stop working at any time. In our case, we plan to provide crypto cards without going through KYC.

As a second example, it is a common problem that most crypto projects do not have a normal infrastructure for the financial part (unless it is a fully centralized company with a legal entity, like a traditional business). In our case, we plan to connect both payment institutions, on the one hand, and retail businesses that will support cryptocurrency, but not be associated with it on the other hand. That is, we take on all the most difficult work and provide a full range of financial services for DeFi projects and DAOs.

As a third example, but what already works is bill payment speed. As far as we know, the team can be distributed all over the world and there are a very large number of “invisible borders”. That is e.g. it may take a week or more for payment from Europe to India of $50,000. In our case, payments around the world take no more than 24 business hours ( 1h 40m on average ).
Therefore, we are already solving the problem of many DAOs with paying bills e.g. to China. Most of the organization’s employees are located in Europe or the US and have great difficulty paying bills to China. Thanks to metamouse, payments arrive in less than 24h.

In fact, there are a lot of cases that we are already covering and even more of those that we plan to cover in the near future. That is why we decided to raise funds for the faster development of our project, as this will allow us to build a really high-quality product that society needs.

Best regards,
Roman from Metamouse

1 Like

does it work like moonpay?

2 Likes

Hi @ompong!

Good question,

moonpay only allows you to withdraw cryptocurrency to Fiat. This is partly what we do, but we have a few differences.

First, we don’t require KYC. As you know, passing KYC for DAO is an impossible task, except for workarounds such as contributors, but again, this is not a solution of the problem.

Secondly, in general, our model is quite different, because, if I’m not mistaken, with moonpay you can’t pay for any services. Therefore, for example, we are developing a widget for traditional businesses, where they can accept payment in cryptocurrency, but not interact with it in any way. In the case of moonpay, there is only the option of withdrawing cryptocurrency to Fiat ( off-ramp ) and vice versa ( on-ramp ).

Best regards,
Roman from Metamouse

2 Likes

Check out this community call recording to hear from the Metamouse team about their proposal. Proposal discussion begins at 22:25 :
https://twitter.com/i/spaces/1rmxPgAgVYjJN?s=20

2 Likes