[Proposal] Metamouse x SushiSwap

Proposals
1

Proposal Title: [Proposal] Metamouse x SushiSwap

Author: Roman Aleksandrovsky, Metamouse Core Team

Date: 5/30/2022

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.

Useful Links

Website: https://metamouse.cc/

Application: https://app.metamouse.cc/

Discord: Metamouse

Twitter: https://twitter.com/MetaMouse_pay

Presentations

Pitch Deck: Pitch Deck for DAO.pdf - Google Drive

Presentation for DAO: https://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 make it easier to spend crypto in the “real” world. Using Metamouse, you can make fiat payments without having to manually convert your crypto to fiat and withdrawing it to a SushiSwap account. . To make the service more scalable and compliant, Metamouse relies on a network of parners around the world to execute the payment. . Onone 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 performs a background check on the source of crypto to make sure it’s not coming from illegal activities. In addition, metamouse investigates the recipient of fiat funds to makre sure payment is done to legit recipient.

1600×901 122 KB

DETAILS

Metamouse supports payments in almost all countries of the world, except for blacklisted countries such as North Korea, Iran, etc. 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 ~46.7% ( 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, and having to open a SushiSwap account, 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, a licensed crypto exchange - Altercap.com

Links to licenses

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

Altercap LTD ( UK Company, MSB License ): https://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: $2.5M 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 SushiSwap 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 SUSHI.

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 SushiSwap?

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

  • Risk diversification and income from holding Metamouse tokens.

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

  • SUSHI 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 SushiSwap governance vote.
  3. Increasing the team for faster project development.
  4. Building and rolling out updates.

Call with the Metamouse team

We also invite the core SushiSwap team to the intro call, where we will tell you more about our project and development plans and answer all your questions.

Link to schedule the call: Calendly - Romans Aleksandrovskis

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

1 Like
2

Really interesting service. As many DAOs have no registered entities, using metamouse will be the easiest way to pay for their “real world” expenses. Probably even end users can find it useful, though the 3% fees can be a bit too much for them. Also end users will be more interested in instant payments. I suppose you are going to offer that with the crypto cards, but can you share a bit more details how it will work (as checking the source of crypto and investigating the recipient are not quite aligned with “instant payments”)?

1 Like
3

Is this a problem that needs solving for us? Few items of concern

  • what if the peer doesnt pay
  • 3% fee seems steep
  • not sure sushiswap is in a position to make speculative early stage investments in projects right now
1 Like
4

Just to echo what pocket is saying, as I did vote no.
Do think on/off ramp is lagging in defi, so fully support the project.
But not sure sushi should be making early stage speculative investments right now.
Or that sushi should be locked in to using a specific provider as a result of that investment.
If this does appear to be the premium option I would support integration in future.

Much love.

5

Dear @CryptoLamer,

Thanks for the questions, I’ll try to answer them below:

  1. 3% commission is a small amount for paying bills of 100-200$, but for larger amounts we plan to add a floating fee. At the moment, this task is in our backlog.

  2. Instant payments - We just discussed this at the AMA session, source of crypto verification is automatic, however recipient analysis is done manually for direct bank transfers. In the case of cards, one-time crypto cards will be created, to which you replenish the balance and can immediately pay for any of your bills or services that require a bank card. In this case, we also automatically check the source of crypto, we automatically check the sanctioned countries, but it is not required to check the recipient.

Also, for the safety of your funds, this method will be non-custodial and you will need to deposit funds only in the amount you need, you can keep the rest on your wallets.

Best regards,
Roman from Metamouse

6

Hi @pocketsquare,

  1. There have been no such cases so far. But we take full responsibility for possible losses, so if the invoice is not paid, we will fully refund the lost funds. Also, all your funds are held by us until the peer provides a payment for the payment of your bills.

It is worth mentioning that for some of the peers we also hold the collateral.

  1. As I wrote in the previous answer, for relatively small accounts this is a quite good commission percentage, despite the fact that we take all the risks, since we directly take the rate from the exchanges and do not affect it in any way, also in case of loss of funds, we completely we compensate them. However, for large payments, we have already begun to develop a floating fee system, which will decrease depending on the amount of the payment.

  2. This is our soft proposal, which is why we initially wanted to get feedback from you and understand what we are missing and in what direction it is better to develop the project. So anyway, thank you for your questions and comments :slightly_smiling_face:

Best regards,
Roman from Metamouse

7

Hey @maka,

Thanks for the feedback. In this case, I just would like to know in more detail what is meant by the phrase “premium option”? If you have any ideas on how we can improve on the project, then I would be very happy to hear them!

Best regards,
Roman from Metamouse

8

As in the highest quality solution.
If you are the best option for on ramp, I’ll support integration.
But if someone else provides a better service sushi should be able to pivot or go in that direction, which isn’t something I’d expect if invested in a specific solution.

I wouldn’t begin to offend by telling you how to do your job better, it’s complex and it is needed, so I am supportive.
But that is independent of how I feel about sushi effectively being a seed investor, during a bear market, or locking itself into a partnership with a service provider so quickly and quite early in its development.
These are my personal opinions, and again I am supportive of the project.
Much love.

1 Like
9

Got it, ok! Thanks for all the recommendations and general feedback about our project. We will update our proposal as we add new functionality and opportunities for partnership and investment. :slightly_smiling_face:

Best regards,
Roman from Metamouse

1 Like
10

Thanks for the answer. I really would like to know if you think an integration of your crypto cards with BentoBox users balances could be possible. As the users be able to use part/whole amount of assets in their BentoBox balance for paying for their “real world” expenses. Thus the users will not have to deposit funds for every single transaction (if someone uses his card for 4-5 payments per day, depositing every time will be a bit of drawback and can be costly especially on ETH mainnet) and also can get some yield (from BentoBox strategies) on the crypto assets he is planing to spent in fiat?

11

I resonate with this quoute below:

While @maka remains benevolent, this crudeness is needed while evaluating proposals like such.

It does not feel like an appropriate time to pursue a partnership nor is the purpose of DAO funds.

Seems best fit for a grant program elsewhere - have you tried pursuing this route?

1 Like