[SeekingFeedback]Swyype - a decentralized system created to provide easy liquidation of crypto asset via physical and virtual card

[DivinegiftSWYYPE]

Proposal details

Project Name

Swyype Pay

Project Type

[ New DApp (DeFI sector), Ramping,Payment ]

Proposal Description

Swyype is a decentralized system created to provide easy liquidation of crypto assets to fiat through physical and virtual payment cards. Swyype operates as a card-to-cash settlement platform that gives users the ability to withdraw USDT (and other stable coins) in Naira through ATMs and POS machines with a virtual and physical card.

To offer our product at a value Swyype offers the following product in our platform;

1. A decentralized, non-custodial wallet to store users funds; this wallet is in full security measures by users as Swyype doesn’t access funds in the user’s wallet.
   [Swyype non-custodial wallet skecth] (230x500) (upload://2VVwu0jivjzIJPwImMkhRDC9DeS.png)

2. Swyype Card: The Swyype card can be obtained in two forms for different purposes. We are providing both the physical and virtual cards.

The swipe physical card would be offered by our physical banking agent to issue a physical card to our users to enable them to perform physical transactions with it via ATMs and point-of-sale devices.

The Swyype Virtual Card would be issued by our partner agent to users. Our users can use the virtual card to perform online transactions internationally.
[Swype Card Lookout] (230x500 (upload://skPjAPdQRZ76dJPNenHzjJvg1RH.png)

3. Swyype Feed: This is a platform to enable community growth and the spread of blockchain education.
   ![Swyype feed|230x500] (upload://4uOCEeRNARklQFDUCGb2Jhswxsj.png)

4. Off-chain Ramping API: This product would be launched to help developers access back-end infrastructure to build and own an off-chain ramping platform.

Product value:
For Users;

1. The product provide a fast, convenient and less- costly way of liquidating their crypto assets

2. Swyype is committed to delivering on its promise of creating quality means of payment leveraging blockchain technology, point-of-sale technology, and card technology. We are proud to have it in our name, and we would make payment with crypto easy and fast in real life just with a swipe.

3. An opportunity to spend crypto in real time for local and international purchases

4. For local entrepreneurs, we are building Swyype to facilitate local payment of their goods via point-of-sale machines with the Swyype physical card; this would create financial inclusion within the traditional and crypto markets.

5. For newbies and blockchain enthusiasts, Swyype is a financial inclusivity platform where newbies can learn, connect, and build with blockchain experts, which would grow the inclusion of Africans in the IoTeX blockchain and ecosystem.

To IoTex:
Benefit to IoTeX

1. Grow the transaction volume on the IoTeX ecosystem

2. Grow the Sub-saharan African reach for IoTeX ecosystem

3. Create a market of over 1 million African to the IoTeX ecosystem

4. Increasing the numbers of stellar ecosystem wallet opening by 5000 with 1000 Weekly active user

5. Driving financial inclusion by allowing our users adopt IoTeX blockchain

Milestones

[ Split your project into milestones: each one must have its own verifiable deliverables]

• Milestone 1: Deploy Swyype wallet on IoTeX Blockchain
  • Duration (weeks): 6 week
  • Deliverables (make sure they can be easily verified):

1. Complete UI/UX product development
2. Frontend development of Swyype wallet
3. Backend and blockchain integrations
4. Listing Stablecoin on the IoTeX Blockchain into the Swyype wallet
5. Wallet Private testing

• Funds request (USD): 10,000 USD

• Milestone 2: Swyype Ramping technology implementation
  • Duration (weeks): 6 week
  • Deliverables (make sure they can be easily verified):

1. Building the Swyype ramping infrastructure
2. Card service provider partnership
3. Launch the swyype virtual card
4. Public beta version launch

• Funds request (USD): 20,000 USD
• AMA by the IoTeX team

• Milestone 3: Public Launch
  • Duration (weeks): 6 week
  • Deliverables (make sure they can be easily verified):

1. Deploy the swyype token
2. Audit Swyype smart contract
3. Launch of Swyype feed
4. Onboard <1000 users and 100 WAUs
5. Airdrop Reward to early and beta users
6. Process <$1000 in card transaction

• Funds request (USD): 20,000 USD

• Milestone 4: Physical card launch
  • Duration (weeks): Till we get a banking agent to issues us physical card
  • Deliverables (make sure they can be easily verified):

1. Create and deliver physical card to out users
2. Backend implementation
3. Awareness event

• Funds request (USD): 10,000 USD
  -Co-marketing activities.

• Milestone 5: IDO
  • Duration (weeks): One month after full launch
  • Deliverables (make sure they can be easily verified):

1. Launch the Swyype token for public investors through an IDO

• Funds request (USD): 0 USD
• Co-marketing activities.

Total funds requested

[ USD 60,000 + co-marketing ]

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.

• We commit to open source the project: [Other - we are willing to build API infrastructure for similar project ]

• We commit to stake [ AMOUNT ] IOTX on the IoTeX Blockchain: [ NO ]

• We commit to donate [ 1% ] of [ Swyype Token ] to the IoTeX Foundation: [ YES ]

About your Team

[ Swyype Pay has a full time team of experiences and innovatives builders in the space, building blockchain powered product to provide solution to real life problems in addition to volunteers working with the core eam to make the project succeed.
MEET OUR CORE TEAM
Divinegift A. Soetan; Founder and CEO. Linkedin | Twitter
Chinedu Elijah; COO. Linkedin | Twitter
Precious Onyekwere; Lead Brand and content marketer. Linkedin | Twitter
Raji Rufia; Lead Community manager. Linkedin | Twitter
Uche Chukwuemeka; Software Developer. Linkedin
Elijah Kolawole; CTO. Linkedin ]

Metrics

2.2k Waitlists signups awaiting the Launch of swyype platform, community partnership, $400 million market, which we are assuring to capture <10% of the market in our first few years which would definitely grow the IoTex ecosystem too.

Links

swyypepay website
Linkedin
Twitter
Telegram Announcements Channel
Telegram discussion channel
Waitlist signups
Swyype Docs

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[DivinegiftSWYYPE]

In my proposal, I guess I missed the upload of our product. I would be doing that in the comment section in case it’s needed later on
Thanks.

Thanks.

[Michaelotega]

Great project.

We can’t wait to have your product among iotex ecosystem

[Tobi]

Really Awesome Project

Can’t wait for the launch of the product

[Alexandra]

Lovely project.
I’m anticipating the launch

[Governor]

Awesome project let’s go, this will improve the future of finance

[Chymuul]

I love what I have read but I have a question on the card aspect.

1. Is there any plans for swipe to be used as a means of payment USD to be specific.
2. And will you guys offer dollar cards, mostly for online payment.

[SirCliff]

Awesomeness is all I see.

[ChisomJoyce]

This is awesome… I can’t wait… Kudos!!

[DivinegiftSWYYPE]

Hi, thanks for the questions.

Well If you had been part of our community there are answers provided to this question, but for clarity sake;

1. Yes we would over our virtual card to make international transactions in USD.
2. The Swyype physical card is going to be used for payment only in local currency: as Nigerian been our primary launch location, we would offer physical card to execute NGN payment.

Read more about it on Our Product - Swyype

Hope I was able to answer your question @Chymuul

@defiAll @marcosd @Artanovskaya

[LadyBatly]

This is an awesome product

Kudos to the entire team👏

Looking forward to the launch

[DivinegiftSWYYPE]

Great innovation. Let’s build

[Joan]

I’d love to hear more about the security measures you have on ground. But overall, I like this. Nigerians are one of the highest traders of cryptocurrency in the world. Swyype is a great idea.

[DivinegiftSWYYPE]

Hi @Joan thanks for bringing this question up, and I guess I would have to talk more on security on our documentation
Firstly,

We’re working around a non custodial wallet system.
Eradicating the need to keep users’ private keys in encrypted databases which can be exploited.

Our mobile app security would features include:
1.Biometrics, pin, Fingerprint and face unlock login access
2. Encrypted data base
3. Infrastructure security and more

[Nwanja]

This is a good project, especially as it targets Nigerians and Africans at large.

With @DivinegiftSWYYPE response on security, I believe that when implemented, Swyppe will go a long way to expand crypto adoption in Nigeria because as a result of the recent cash drama, many people are beginning to adopt technology faster than anticipated.

I think Swyppe is coming on at a good time. Kudos to the team.