Proposal details
Project Name
C14 – Fiat <> Crypto Payment Flow for Iotex Ecosystem
Project Type
Other
Proposal Description
OVERIVEW
C14’s mission is to empower users around the world to easily engage with digital assets.
Existing on/off ramps are expensive, difficult-to-use, and support only a small fraction of potential users around the world. C14 is building the next generation of fiat <> crypto payment flow: a seamless, ecommerce-like payment widget that can be embedded in projects across the Iotex ecosystem. The C14 widget offers meaningful coverage for established markets as well as emerging and underserved markets around the world via the most adopted payment rails.
Users benefit from:
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A seamless fiat <> crypto payment flow that mirrors the ease of a typical e-commerce transaction. This allows any user in our growing list of covered geographies to easily purchase native Iotex assets and transact across the Iotex ecosystem with ease, comfort, and security.
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One-step mobile login and stored payment methods available to users. This allows for seamless repeat transactions (~20 seconds) across the Iotex ecosystem wherever the C14 widget is embedded.
As a C14 partner, Iotex benefits from:
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A powerful (and continually improving) ramp to onboard users around the world – including users in emerging and underserved markets that currently have no meaningful coverage.
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A seamless fiat <> crypto payment flow made available to any project teams building on Iotex at no cost to them. Project teams can also work with C14 to list their native token(s) in the C14 widget. This serves as a powerful incentive for third-party developers to build on Iotex instead of other networks.
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Access to users who previously were unable to on-ramp into Iotex assets due to a lack of crypto experience or ramp coverage in their area. This provides a significant increase in the total addressable market for any project building on Iotex as opposed to building on a chain that doesn’t have the C14 widget.
ECOSYSTEM BENEFITS
Once we complete the integration, the C14 widget can be easily embedded into any Iotex project websites and/or dApps. This means that users can freely transact across Iotex using their one-step mobile login and stored payment methods. We believe this is especially relevant to Iotex as they seek to onboard retail users around the world.
There is no limit to the number of ecosystem projects C14 is willing to help onboard as embed or listing partners. C14 will be available to work with any ecosystem projects who want to integrate the C14 widget into their project and/or list their native token in the C14 widget.
C14 will not charge a setup, monthly or minimum fee of any kind for ecosystem projects that embed the C14 widget. Once our Iotex integration is complete, all ecosystem projects will be welcome to utilize what we have built!
COVERAGE ROADMAP
Unlike other ramps, C14 is focused on adding meaningful coverage for emerging and underserved markets globally. We will do this by integrating local payment providers in places where credit and debit card adoption is low.
By integrating the most popular payment methods in global markets, we can drastically expand our coverage and allow users around the world of any crypto experience level to easily engage with digital assets on Iotex.
Depending on the timing of this integration, C14 will initially launch with coverage in the U.S., E.U., Canada and Brazil (our current coverage zones as of writing this proposal). From there, C14 will focus on adding coverage for established markets as well as emerging and underserved markets around the world. This includes card payments in areas where card adoption is significant, and non-card payment methods in areas where card adoption is low (ex: PIX in Brazil, SPEI in Mexico, etc.)
C14 also welcomes all input from the Iotex team regarding areas where adding meaningful coverage would be most beneficial to Iotex user growth and adoption!
Milestones
- Milestone 1:
- Duration (weeks): 2 weeks
- Native $IOTX is available for purchase on the C14 Widget
- Funds request (USD): 50% of agreed upon token grant
- Milestone 2:
- Duration (weeks): 1 day
- First purchase of native $IOTX with fiat payment via the C14 Widget
- Funds request (USD): 50% of agreed upon token grant
Total funds requested
To be agreed upon by C14 and Iotex.
Please checkmark the following if you agree
Although these options are not mandatory, please consider committing to them for the greater benefit of the IoTeX ecosystem.
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We commit to open source the project: Other - Not applicable, as C14 utilizes a range of web2 providers to facilitate seamless fiat <> crypto purchases.
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We commit to stake [ TBD ] IOTX on the IoTeX Blockchain: [ YES ]
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We commit to donate [ PERCENTAGE ] of [ OUR TOKEN ] to the IoTeX Foundation: [ N/A - we do not have a token ]
About your Team
The C14 team has broad experience and proven credentials across crypto, fintech, and global payments infrastructure. C14 was founded by Erich Grant, previously:
Director of Sales and BD at Wyre. Head of Sales at Paxful. Ex - Goldman.
Tufts B.A. | NYU MBA
Metrics
It’s difficult to estimate the number of transactions at launch. However, our service is growing in popularity in tandem with our adding new coverage areas around the world. Thus, we expect to onboard an ever-growing global population of eligible C14 users into the Iotex ecosystem as we expand both user adoption and our global coverage map.
Links
https://twitter.com/c14_team
https://www.linkedin.com/company/c14-fiat-crypto-payment-flow/
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