[Proposal] Metamouse x DXdao

dxDAO
1

Proposal Title: [Proposal] Metamouse x DXdao

Author: Roman Aleksandrovsky, Metamouse Core Team

Date: 5/26/2022

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 below.

  1. 05/13/2022 - ://bit.ly/3lGKWYu ( Pre-Proposal )

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 DXdao 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 DXD 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 DXdao?

  • DXdao сan transfer all expensives 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.

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

  • DXD 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 DXdao 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

2

Hey,

thanks for your post. A few questions below from me.

What is your main selling point?

I believe most people can offramp crypto at a better rate than 3%. For example, we paid a $100k sponsorship deal through dlabs (myself), and incurred only $400 in fees (0.4% fees). Other costs such as travel etc. are typically fronted by contributors and then reclaimed from the DAO without any fee markup. I think the larger issue is traditional invoicing which can make working with a DAO very complex, but the offramping fees are typically not the major concern IMO.

Moreover, for traditional B2B payments i.e. Lawyers the payment must come from a bank account in the name of the law firms client. So I guess you’re more targeting travel or smaller things that don’t require a match between bank holder and client? Curious to hear what other clients are using your services for.

General

Do you think it’s scalable to facilitate payments without any KYC / AML checks?

Who are the “peers” doing the payments, and in which jurisdictions are these banks based?

How does one become a peer?

Techincal

DXdao isn’t a MS - any funds need to be accessed through an on-chain proposal. Currently you only support payment from metamask, correct?

If you plan to move to a DAO, how will the fees be collected? Currently the funds just to to an EOA wallet, right?

Edit:

I also did a quick google search to see the forum discussion with some of the partners you list on your site, Olympus, Maker, zkSync and ShapeShift. But couldn’t find anything. Could you link to those? Would be insightful to see the discussion in those communities too.

2 Likes
3

Hi @dlabs ! Thank you for your questions :slightly_smiling_face:

What is your main selling point?

Selling point: DAOs struggle to make fiat payments

I believe most people can offramp crypto at a better rate than 3%. For example, we paid a $100k sponsorship deal through dlabs (myself), and incurred only $400 in fees (0.4% fees). Other costs such as travel etc. are typically fronted by contributors and then reclaimed from the DAO without any fee markup. I think the larger issue is traditional invoicing which can make working with a DAO very complex, but the offramping fees are typically not the major concern IMO.

Yes, there are possibilities to use other partners or contributors. Each time you need to organise it manually. With metamouse DAO has one place, which covers this topic. It’s easy, fast and hustle-free.

Moreover, for traditional B2B payments i.e. Lawyers the payment must come from a bank account in the name of the law firms client. So I guess you’re more targeting travel or smaller things that don’t require a match between bank holder and client? Curious to hear what other clients are using your services for.

We are covering those payments, which are not required to come from the bank account with the same name. In case with DAO, it’s not even possible as most DAOs don’t have legal entity and bank account.

General

Do you think it’s scalable to facilitate payments without any KYC / AML checks?

Yes, it’s scalable solution.

Who are the “peers” doing the payments, and in which jurisdictions are these banks based?

Now in a verified payment network we have corporate entities and private individuals with bank accounts globally, which allows us to cover almost any jurisdiction.

Currently, it’s a closed group of verified users, which provided their full KYC, so we are sure, that invoices are paid by proper payers.

In future, we aim to attract payment institutions, banks and card providers to the verified payment network, providing them API connection and proper legal set-up.

How does one become a peer?

In the future, we will open this to public and provide to application form to become one of the verified payer. Each payer gets 1.2% of the commission. 1.8% stays to metamouse.

Techincal

DXdao isn’t a MS - any funds need to be accessed through an on-chain proposal. Currently you only support payment from metamask, correct?

No, for most assets we support payments from any wallet. You receive an address where you need to transfer the crypto from your favourite wallet of choice.

If you plan to move to a DAO, how will the fees be collected? Currently the funds just to to an EOA wallet, right?

Metamouse DAO will act as a platform and will collect fees on one of metamouse DAO wallet’s.

I hope we were able to answer. If you have additional questions, please let us know!

Best regards,
Roman from Metamouse Team

1 Like