When launching the PayWithTerra project, I planned that it would be such a small utility for a narrow market segment. I expected the first users at least half a year from now, as the Terra project would continue to gain momentum. Therefore, I immediately added a monetization model so that this project could independently earn money to maintain its infrastructure and develop gradually.
To my surprise, PayWithTerra was very warmly received by the audience after Do Kwon tweeted it. During the first day, we received over 1000 unique visitors who reads the system description and docs, test the demo store and ask questions.
In fact, we can just leave it as it is and observe. But given the great interest, by attracting additional resources, PayWithTerra can become a real part of the Terra ecosystem much faster.
There are 3 areas for the development of which funds will be spent: revision of the system and plugins (coding), design and illustrations, legal.
I have a great desire to involve at least one more part-time developer for making the following parts:
- Development of plugins for popular ecommerce platforms and CMS. First of all, these are WooCommerce, Wix, Magento, Shopaholic (Shopify is on pause, because now it is temporarily not adding new gateways). Ideally, we should provide a one-click solutions for the top 10 platforms and support them.
- We must provide the first 100 stores that want to connect PayWithTerra with technical advice and assistance in integration.
- We must develop and implement a “Pay as you go” default plan for start-up stores that are wary of paying for subscriptions.
- Together with translators, we will develop localization for more languages: Korean, Spanish, Russian
- Strengthen the infrastructure, launch own node to track transactions in the blockchain in real time (to increase the speed of detecting transactions and not depend on external APIs).
Design, UX, Illustrations
- It is necessary to involve a specialist in these areas to analyze the project, develop recommendations and implement them. Goal: to make the payment process as simple and understandable as possible for consumers.
- Develop illustrations and possibly a video to explain the process of the system to technically inexperienced people.
Potential clients from different countries ask legal questions and express concerns related to the acceptance of tokens for payment.
It is necessary to hire a specialist who will consistently establish contacts with law firms in different countries. The goal is to study the peculiarities of the national legislation of different countries through contacts with local companies. So that they give an opinion on the possibility or impossibility of accepting tokens (like UST) in payment for goods and services.
We will compile a green list of countries where it is at least not prohibited and prepare answers to possible legal and accounting questions from local businesses.
For this part, I suppose we will have to spend at least $15,000. I’m not sure how much this will be enough for such an ambitious task. But it should definitely be enough for a certain number of countries.
Total estimated expenses: $41,000
$4000 Design, UX
Thank you for reading! I would be grateful for the feedback
Do you think PayWithTerra is worth the funding by the community pool?
I am a professional in “coding” and I can estimate the labor costs for “Coding and Design” parts well (except for infrastructure and own node launch). But I really need your thoughts on cost in Legal - is it enough for such analyze?
If anyone wants to help out on the topics raised in the text, please DM me.