Pre-Proposal: Connect DASH to Mass-Market Consumers in US

M

Meredith Davis

New member
Description:
There are very few options for regular people to buy crypto. Acquisition of altcoins is particularly difficult. Mass-market consumers in the US need a fiat on-ramp with behavior that they are already familiar with. They don’t have time to devote to figuring out crypto, but love uncovering value and being included.
The Cred app will open up a new level of access and ease-of-use to potential DASH holders.
This July, we are releasing a beautifully-designed and very simple cryptocurrency micro-investing app, and propose that DASH be listed as one of the 15 coins included on the platform.
Our target population is US-based consumers not currently informed or invested in cryptocurrency. Education is key to our project’s success, which is why all coins listed on our app will publish their story, mission, vision, and updates/news to Cred users.

Why it will benefit DASH Network:
Other coins listed will include: Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, litecoin, Stellar, Monero, WAX, Neblio, and ZenCash. One new partnership will be announced this week, and three others are pending announcement. We’re limiting the number of coins listed to ensure simplicity and ease-of-use of the app for crypto newcomers.

Promotional Period:
Cred will release it’s app with a promotional balance of coins from select coin partners to be used in a Coin Referral System (CRS). The CRS will hold coins in escrow to be used to match a $10 purchase of a coin on the Cred app, and to reward users $10 of that coin when they refer a friend to buy $10 on the app.
For example, if a new user buys $10 of DASH during the promo period, they will get $10 of DASH matched. If they tell their Aunt Cathy to do the same, and she buys $10 of DASH, the user will get $10 of DASH for the referral. Aunt Cathy can also get $10 if she refers one of her friends, and thus the system self-perpetuates.

Schedule of Costs:
  • Month 1: Proposal Passes, Cred team integrates DASH into Cred app, red releases to friends + family. (330 DASH, 115 of which will be held in escrow for the promo fund)
  • Month 2: Cred app deployed, DASH community will announce it’s availability on Cred, and Cred supplies our own marketing budget to boost new user downloads. (330 DASH, 115 of which will be held in escrow for the promo fund).
*** If any promotional DASH remains after this 2-month promotional period, it will be returned to the DASH community.
  • Months 3 onward: No further investment required. Cred app users receive notifications on DASH announcements and notifications to add new coins to their investment portfolio. Also, Cred marketing budget continues to be applied to boost new user downloads. Additional US states continually added to Cred-supported user base.
Value:
Our developer, marketing, strategy, and management teams will handle:
  • Ongoing coin relationships for communicating about your project, mission, and updates
  • Ledgering
  • Banking
  • Exchange of fiat and coins
  • Custody of coins
  • Liability
  • Legal costs of acquiring US state licenses
  • App marketing, promotion, monitoring and user support
  • Affiliate relationships
Team:
  • Backed by Science, an accelerator out of Santa Monica, CA
  • CEO: Brendon McQueen
    • Led a successful millennial focused startup w a team of 25
    • Raised $10M
    • Sold benefits into: Fidelity, HP, Live Nation, Staples, etc.
    • Created the “401(k) for student loans.”
    • Repeat founder focused on the future of fintech
  • VP Engineering Patrick Santora leads multiple geo-dispersed developer teams
  • GM Enterprise Meredith Davis handles partnerships, affiliations, marketing, and PR coordination
Website: Get Cred . IO

A PR schedule of articles is currently being executed with new coin partner and affiliation announcements to gain awareness and garner traction for our big launch in July.
 
Hey, Thanks for the pre-proposal.

I'm a little confused why we would pay for this when other tokens have gotten in for free?

Would Dash be getting some benefit over other currencies?
 
Hi there! Thanks for your message. None of the coins that will be listed for free will be actively promoted, nor do we have co-marketing partnerships or agreements with any of them. We can certainly list DASH with no promotion. However, with this user base that is completely unfamiliar with cryptocurrency, we are aware that familiarity and promotion of certain projects will likely make a large impact on which coins to invest in. For example, if a friend tells someone to invest in DASH, they will be much more likely to invest in it, and increase their recurring investments over time. Education will be a huge part of adoption. We can certainly negotiate the fees and promo balance - happy to work with what is going to work with your community!
 
I am quite interested in your proposal, and there has already been a good comment made about Science regarding this proposal among masternode discussions in the community from someone who is familiar with them. Thanks for submitting a pre-proposal, incase you are unaware we currently have a number of Core proposals this month that will consume most of the remaining budget. In fact providing that all of the Core budgets pass and existing multi-month proposals remain funded, there wouldn't be enough left to fund the amount you are requesting. We may also have a similar situation next month which would be worth keeping an eye on if your pre-proposal continues to receive interest.

Quite a number of people in the community question integrations that involve Dash paying to be listed when apparently other coins did not, and unfortunately some similar proposals in the past have perhaps burned voter's trust to some degree after they received a sizeable amount of funds upfront and didn't exactly deliver on expectations in order to justify the ROI. For this reason I would recommend a slightly different approach to perhaps garner more interest and a greater likelihood of masternode support.

Here's my suggestion. If you were to add Dash now without the requirement for funding as you mentioned is indeed possible, then you would demonstrate that getcred.io has a genuine interest in Dash and has made a commitment to integrate the coin into their platform. I'm sure it would also be of great benefit being able to process fast and low cost transactions with the Dash network on-boarded. You could then devise a proposal designed to promote Dash to your customers through the referral program that you mentioned. The treasury could fund referral bonuses paid in Dash for setting up new wallets, as well as the administrative and marketing costs involved with such an undertaking. This could be an ongoing proposal and you would be able to provide real data for the number of downloads, purchases, referrals etc. for a substantial amount of feedback. I would recommend gearing the proposal more towards outreach and marketing then integration because that is where we need to see results which you could most definitely provide us.

Funding for new proposals is becoming increasingly difficult each month as proposal owners compete for the budget. I get the impression that masternodes want to see more proposals based on marketing and outreach, especially those that are affordable and reoccurring so that they can be monitored and evaluated on an ongoing basis. I envision that an outreach program would have far more success among the community and benefit both parties to a greater extent than what may be regarded to some as offering a once off funding for integration.
 
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Wow - fantastic comments and thank you for the background. I really like your suggestion. It makes sense, in the case of DASH, to proceed as you outlined here. I'm going to take your thoughts back to our team. We launch the app in July, so September we will have a very detailed picture of app activity. Looking forward to working with the DASH community to get word out about your project - I met some of your Core Group members at Consensus and was very impressed with the team, and how constructive your community operations seem to be. Thanks again.
 
Meredith Davis said:
Hi there! Thanks for your message. None of the coins that will be listed for free will be actively promoted, nor do we have co-marketing partnerships or agreements with any of them. We can certainly list DASH with no promotion. However, with this user base that is completely unfamiliar with cryptocurrency, we are aware that familiarity and promotion of certain projects will likely make a large impact on which coins to invest in. For example, if a friend tells someone to invest in DASH, they will be much more likely to invest in it, and increase their recurring investments over time. Education will be a huge part of adoption. We can certainly negotiate the fees and promo balance - happy to work with what is going to work with your community!
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Okay, thanks for the clarification!
 
Really like this project. I'm a big fan of Science, and am happy to see your team engaging with Dash.

Out of curiosity, how did you become aware / get to the point where you felt that going to the treasury was the best move for you?

Oh I'm in the Orange County / LA area by the way if you ever want to grab coffee and meet up.
 
Thanks for your pre-proposal. Like @Name3 said, historically paid integrations are often met with mixed opinions. I don't really have a problem with them--because I believe Dash can both afford to help platforms integrate us and that we can easily compete with other projects, especially once people actually start *using* Dash and seeing how much faster and easier it is to use in most cases--but many MNOs are put off by these notions. I agree with @foxtrot that a reformulated proposal centered around a more targeted outreach would be much better received and much more likely to succeed. I had a chance to browse through Science's information when it was being discussed on the Discord, so it sounds like your team is a solid, serious, professional one, and I don't really have any reservations about your team's ability to successfully implement whatever project you decide to undertake. These sorts of micro-investing platforms are becoming more and more popular and are certainly make more sense for people in younger age-brackets who both have less income to devote to investments and are more open to new technologies. So I think all in all it will be a successful project and I hope we can come to agreeable terms.

The one question I had about the logistics of your platform is regarding the relatively low liquidity of Dash. Will your service utilize particular markets or exchanges or services to facilitate Fiat to Dash purchases? I'm a little fuzzy on how your platform interfaces with the rest of the crypto market.
 
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