Proposal: PayWithTerra Community Pool Funding

Intro

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.

Coding

I have a great desire to involve at least one more part-time developer for making the following parts:

  1. 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.
  2. We must provide the first 100 stores that want to connect PayWithTerra with technical advice and assistance in integration.
  3. We must develop and implement a “Pay as you go” default plan for start-up stores that are wary of paying for subscriptions.
  4. Together with translators, we will develop localization for more languages: Korean, Spanish, Russian
  5. 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

  1. 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.
  2. Develop illustrations and possibly a video to explain the process of the system to technically inexperienced people.

Legal

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

By areas:

$22000 Coding

$4000 Design, UX

$15000 Legal

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.

5 Likes

I wholeheartedly support this proposal.

Do you think you could produce a rough idea of what the end deliverables are? maybe some mockups or a short deck?

2 Likes

Right now it is already fully working solution (see the Demo shop), but has a few things to improve (described in a topic starting message).

Ideally, if (after all improvements):

  • eCommerce website owner who is going to connect to PayWithTerra could read all needed info about how it works, how to connect and all legal related information in understood form (+ on his language)
  • able to provide ready-made solutions (plugins) for stores on most popular platforms and engines for free (top 10 at start)
  • end users will make payments on connected platforms in a one click without needing to copy/paste “memo” and other fields
  • system will react on payments in real-time (right now it has 10-15 sec lag)

I’ll be voting my block of Luna YES!

Great job and keep up the good work!

2 Likes

Thank you! That support is very important for me. The real proposal on Governance page is here. (I hope that proposal was created correctly)

Would you be willing to make it an open source project?

I’ll be voting yes.

It can simply help with the adoption of Luna as a payment method.

Congrat for you work.

1 Like

Of course all plugins will be open source!
What about central server - it’s a possible if there is such a public request. Project is not contains “totally secret parts”.
A key obstacle - “make project an open source” is not only “make repository public”. It’s a process which includes a specific approach to organizing and documenting code, adding deployment instructions and stuff.

A few more details

When the PayWithTerra was being created, the main idea was to make it possible to connect the store quickly and without deep diving into the Terra details. You just need to install the plugin, enter the API key and specify the address of your wallet and everything will work.

I have a feeling that this path is closer for the majority than deploying a separately our open source PayWithTerra blockchain watcher system just for adding Terra payments.

If you worry about “bus factor”: I will definitely take several approaches when the project gets the first paying users to make it independent from my “health state” :wink:.

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The proposal is up: Terra Station

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Prop 51 is now in voting phase! Congrats @task-euler

3 Likes

I strongly support this agenda, I signed up for an account to write an answer.

One question,

I’m curious about the identity of the company you’re developing.

These are very reasonable line items and definitely a fair market price. I have a good contact for legal based out of Singapore and they have a great fundamental/technical understanding of crypto from a multinational lens. This person has excellent contacts and is readily available when inquiring for any legal support. Let me know if interested. Looking forward to seeing your growth!

1 Like

Hi, I clicked on the demo store yesterday and find it amazing to be able to pay in Terra Stable Coins, I think you should factor in marketing cost if you really want this thing to fly. Developing alone is never good enough. It is important to get Merchants to sign onboard, as more merchants are using this solution, more buyers will choose to pay it. And when you have a critical mass of buyers to use this, more merchants will then get onboard.

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Hi, as I am rather new to Luna system, i have tried to use ur solution but there is no way in terra station that I can make payment to another public address. So… I don’t think it is complete without a new design of our own Luna Wallet

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Hi! Thank you for your review.
Yes, maybe it’s my mistake to not include the marketing strategy to budget in the community proposal. Maybe after this list will be done we ask for the Round 2 :slight_smile:

I agree the core issue is a quick payment without needing to manually enter the address and other requisites to the Send form in the Station app. As I know, the Station teamwork on it. If they don’t release something we will have to develop our own wallet with PayWithTerra integration.

1 Like