This Hive service development and financial expansion proposal is being made in partnership with and on behalf of Zypto (@zypto) by @crimsonclad.
Zypto is your all-in-one crypto wallet app and crypto payment gateway – built for life, business, and everything in between.
We’re so pleased to introduce you to their team and services on the @zypto account! I've been working with the Zypto crew over the past few weeks to help them understand the great fit between their products and goals and Hive's incredible users and ideological foundation. This is an integration that creates an awesome match between a mix of super useful services and a passionate community looking for as many options to use their permissionless digital funds and rights as possible. Please get to know the Zypto crew (leave them comments or feel free to ask questions here on the proposal), give them a follow on @zypto as we work together to build out a social community here on the chain, and then continue onward to review this upcoming proposal for details on integration work to bring HIVE and HBD to Zypto’s full service suite of financial and crypto tools.
E: We'll hold a short recorded AMA session on Friday June 27th in the Hive Discord Server
🟩 Principals
● Organization: Zypto
● Official Hive Accounts: @zypto @zyptopay @zyptoapp
● Zypto Co-Founders: Joe Parkin & Zyptologist
● Funding Recipient Account/App Integration: @zyptoapp
● Communications Account: @zypto
🟩 Integration Proposal Overview
To continue expanding Hive’s reach in the global payment arena, the financial options that are opened up by integration with Zypto are a huge step forward in creating more avenues for Hive users to both accumulate and use their assets in new ways. Direct fund management for buying, selling and swapping; a range of both virtual and physical prepaid crypto cards in reloadable and non-reloadable options, each with different KYC requirements; direct bill payment in 10 countries, including recurring options; and continued Hive expansion for upcoming Zypto products in the future. With the implementation of Hive, Zypto will work to build a decentralized custodial system so that HIVE and HBD can be accepted as a payment method across the entire Zypto product suite including Reloadable Cards, Prepaid Cards, Bill Payments, and much more.
This proposal will cover full $HIVE and $HBD integrations to the Zypto Crypto Wallet App, Zypto Payment Gateway, and Zypto Card and Product Markets. As Zypto expands their offerings, the Hive ecosystem will grow alongside them. We’ll be exploring more social and technical integrations as well as co-marketing activations across various social media.
An extended note from Zypto
Hey Hive community!
First off, it’s been great to see the buzz of interest around Zypto’s grant proposal, as well as the overall healthy, constructive discussion going on. That’s what defi is all about and we love to see it! Communities working together to find a consensus is the essence of what blockchain and Freedom Money is all about.
We can’t wait to integrate Hive into every corner of the Zypto ecosystem and for us to get to know each other much better.
Also, an apology for not having been able to keep on top of all of the comments and questions. On one hand, there’s a bit of a learning curve we’re going through to keep track here on top of all the many many platforms we’re already active on. On the other hand, we’re 24/7/365 BUIDLing, of course!
As there appears to have been some confusion regarding fees for some of our products, below is a breakdown of the current fees for each product. – and where Hive‑exclusive perks could slot in.
Going back to the learning curve issue, the idea was to put all this in here, but it includes tables, which we haven't figure out just yet, so here's a link to a Google Doc:
🟩 Budget & Roadmap Overview
Rough roadmapping is approximately 6 weeks, subject to change as building and testing are completed, with two engineers assigned to the integration. The proposal payout period is set to span the course of 4 weeks, with funding to begin starting on June 23rd, 2025 if passed.
- Creating the backend infrastructure required to connect to the necessary RPCs to receive blockchain data for app usage.
- Implementing the necessary functionality on the frontend side to interact with the blockchain which will include the preliminary features:
- Send
- Receive
- Swap
- Buy (Selling potentially possible before or after integration completion, based on partner provider activity)
- Build out a custodial service on the Zypto merchant side to allow for the usage of $HIVE / $HBD to: purchase and load Zypto VISA Card, pay bills, purchase prepaid cards, purchase vault key cards, and more products down the line
- Internal QA, Internal Acceptance, External Beta Testing Go-Live & Marketing
🟩 Total Budget Requested: $20,000 HBD
Some answers that have come up to common questions on the proposal:
On self custody, in relation to concerns new wallets would need to be created for service
"Zypto App is a defi wallet and payments app. The only somewhat centralised part is for us to accept payments for our prepaid payment products (cards, gift cards, bill payments...). So, basically, users' funds remain their own on-chain until they choose to send them to us in exchange for a way to pay for stuff"
On the older whitelabel (custom boutique card product for in-house crypto companies) fee graphic
"That's not the cards that are in the app. It's one that we have as part of our white label offering for other companies to use and it's also quite popular with let's say "big hitters" in the crypto space. The ones in the app have different pricing."
On card fees in general
"The fees on the cards in the app are 3.5%. That's it.
It seems the wrong card program is getting shared.
In any case, it's important to remember that this Zypto is not just 1 card program. It's a next-gen defi wallet + an ever-growing suite of payment options."
On funding
"The funds will pay for developers that are being taken from other projects to prioritise Hive as well as subsequent maintenance, marketing and activation activities. We don't just want Hive users making use of Zypto, we want other Zypto users - past and present - getting to know Hive."
Funds will cover scoping and work to add Hive’s unique L1 to Zypto’s crypto services, with a portion of the funds being powered up to Zypto’s exchange accounts to allow for unlimited transaction coverage as well as social rewarding power. The budget requested not only includes the integration of HIVE/HBD, but also includes the required funding to upkeep the integration moving forward. After the funding is complete, Zypto will take on the financial burden of keeping the Hive integration functional.
Transparency updates at completion of each stage of the roadmap will be posted to the @zypto account as the disbursement period continues.
Here's a bit of "Zypto sleuthing" for those who want to know more about the company and the people behind:
https://peakd.com/zypto/@sorin.cristescu/zypto-sleuthing
From @valued-customer : Wouldn't it be a better idea to offer the 20 000 HBD to Transak in exchange for them restoring the HIVE buying service for, say, at least a year (or more)?
While this is a great initiative, I would advise putting some evidence in the proposal that a tender was done to compare several cards to ensure this money goes to whichever provider will get hiveans the best rates on their crypto purchases and cards and swaps.
The ideal deal here is zero installation costs and a fee to the provider on swaps only (while I know that this is an unlikely scenario, it’s what we should be hoping to get towards to ensure we spend our money on the cheapest possible, technically acceptable service).
So would be good to see what deal other providers are willing to provide us before we spend any money on this great initiative
Why not just pay the $20,000 and reach out to other payment solutions at the same time. @zypto already works very well and has users (like me) who love it and I'd will promote this integration on the weekly. We can show the content to other card providers so they see what we're about.
https://hive.blog/proposal/@crimsonclad/sxpvix
is there a place to see a list of other providers and their rates / fees / implementation costs so its easy to compare. (obvs, its likely that this option is the best deal, but it should be confirmed before proceeding).
Love the idea, but I think we can also explore other options since I already have a virtual VISA debit card that I can charge with HBD. It can be linked to Apple Pay/GooPay, and you can use it almost anywhere. It is also way cheaper than what I am seeing in some comments.
Besides that, I am currently contacting several card issuers that allow crypto to bring this to the Hive ecosystem. One of them is a contact we made two months ago during the Talent Land event in Mexico with @starkerz that can cover Visa and Mastercard globally. Nothing wrong with Zypto, cause we surely need more options and this would add value to the chain.
I haven't made this public because I haven't got all the necessary information, and we need to go through more steps before setting everything up. But the first card I mentioned can already be purchased by anyone with almost no KYC (email, phone, and telegram only) required, and again, by using HBD to set up the card and charge it. Only virtual for now.
Can I contact you with more info about this on MM to exchange ideas?
Hi,
Just getting started on all the comments. First of all, it does look like some fees are being quoted that are for a different product to the ones in the app. We'll post any pertinent clarifications here.
On the subject of competitors, you'd be surprised firstly how many hidden fees they have and also how many of them are actually white label customers of ours. That's not to say there's nobody out there with good products, but it's always best to take publicised pricing models with a pinch of salt. It's also worth considering the longevity of many of these projects. We have seen many come and go.
Our aim is to provide fairly-priced, easy-to-use and long-term sustainable products and services, which we constantly work to improve together with grassroots crypto communities.
Thanks for your comment. We love to see active, informed people working towards adoption.
yes, love Zypto and all the work that @alex-rourke has been doing with you. I just visited him in person and he cant stop using his Zypto card!! :))
Obviously the concern is that Hiveans would be getting the best prices when compared to other cards in areas like initial cost of implementation, swap fees, various card fees and payment fees before making the decision to spend. Would be good to find a way to clarify this somehow
Okay, so Zypto has a life and a reputation already. It would be good to know more about that @zypto, plus:
Thank you for the reply and welcome to the Hive community.
I have nothing against integrating Hive and HBD into Zipto; the more options and more adoptions of Hive we can get, the better. I was just trying to point out that as a community, we should explore other options. I think this is evident from the research I have been doing on white-labeled card providers with a license to issue their own. Zypto didn't appear on my map for that, so please do send me any information that can be helpful. I will leave my telegram link.
I went ahead and started looking at your site (I recommend adding it to your Hive profile). I get this from trying to enter the page about white labeled services, so I have some questions.
Where do you get that virtual card to use HBD? I have a virtual card that can pay with almost any crypto, except from the Hive chain
Hi. I use Qvapay, a Cuban payment gateway with crypto support, which offers a service for Hive and HBD, thanks to @hivecuba.
That's awesome!
I have a few services I want to look at, but at the moment I only use thorwallet card.
Are you talking about @qvapay? If so, 10% doesn't seem cheap to me, but it's much more expensive.
Yeah and Yeah
These are the cost and fees of a physical debit card! 🤣👍🤣
And they still neeeeeeed money from Hive... 🤣
I have no idea how much the rest transactions cost, but I know a dozen similar kinda never going anywhere kinda crypto apps, card providers...
Seeing this, only the bill payment by crypto option can be interesting, but I highly doubt it is cheaper than using other services, otherwise this zypto would be a well known name in the space.
Obviously nobody will use it, as it is out of mind expensive.
So just wasting another 20k. Let's do it guys! GL! 👍
If you use something like a crypto.com card you probably need to account for the cost associated with trading and transacting.
So for me its, Hive-Binance-USDC-Crypto.com-euros. I dont know how high the cost is compared to this but it does take a chunk out of my total amount. At least a few %.
I do still feel this is significantly higher with topup at 5%
Hello,
There are many hidden fees for many crypto card products. Also, they require you to deposit onto a CEX (which we are not), trade, etc.
Centralised exchanges often run their cars programs as loss leaders to get more volume through.
It's important to note that Zypto is not just a card company. Our app is a fully fledged DEfi wallet, but built differently focused on providing OPTIONS.
If you want to pay your bills, use a reloadable or Non-reloadable card or gift card to spend your assets, we aim to make sure it's easy and convenient for you. Of course, we are always aiming to provide fair pricing, as well as various perks. More and more will be added over time.
I use Wirex, Nexo, sometimes Tap.
I think, you are from Croatia, so EU. I think, you wanna forget this way, and crypto.com, the above 3 are cheaper. These ones are totally free, no monthly cost, no issuance, deliver cost, till $200-2k/month even the ATM withdrawal is free. (if you have all, and use all, stand below the monthly limit, basically you can withdraw enough for daily life for completely free. Even ATM at zypto is $4+1% which is likely mean 2% as the trx limit hardly can be higher $300-500) Not to mention cashbacks if you spend by card, then the cost can be lower.
Not really did the Hive part for a long while, anyway that isn't the expensive part, but sell crypto for fiat in the app. (What zypto does not even list on their fee list, so in the end, it is not simply $6+4.5% but way more, likely above 8% or even more They probably use 3rd party services, that's why so expensive - the crypto bill payment 8% is also nuts for the same reason.)
It's just simply not even near to competitive. Maybe, if it would be 1-2% off from best ones, but it's way farer. People will take the longer, different way for such a difference, even for less. That's why they don't have users.
I also can recommend the bit2me. They have around 400 cryptos there, EU, Spain reg, Mica compatible, and they even have a 'Listing request' form on their website. Operates in Europe, America (except USA) and some part of Asia. A bit more expensive, but still cheaper than crypto.com, zypto. And small one, if legally ok, they definitely would add Hive. Have to reach them out and ask. 😉
Oh, + bit2me is working on something they call 'payment to social networks'. Probably they would be even more interested in Hive because of that.
I'm pretty sure, they would add Hive (for free), if legally possible.
Why not just send SPS direct to Crypto.com?
Revolut online bank converts USDT into fiat for free. ;)
20K to get direct connect to fiat is a pretty good deal imo. The fees I don't like the most is monthly fee and POS/online purchase. Everything else seems fairly reasonable. It could certainly be better but having something is way better than having nothing
I think, having something for $20k which does nothing is not better than having nothing. Not even nothing, but $20k in pocket, what can be used for something valuable. 😉
I can talk about the European competition, but I am pretty sure, it is the same worldwide.
ATM all my fees around 2-2.5% to get crypto to crypto debit card. Free card, free shipping, no monthly cost ($2-5 inactivity fee after 1 year, which never applies), holding exchanges' coins giving some extra benefits.
So $12 monthly fee + the 4.5% top up fee is not competitive at all.
For example, here is the Wirex fees - free card, or max $5 cost everywhere, that's just basic:
The Tap fees, crypto-fiat cost 1.5-2.5% but except that everything is free.:
The Nexo is pretty much the same, there you can reach monthly 2k (or 5k) free ATM withdrawal limit by holding their coin.
So this zypto is a very-very expensive one.
If you pay more than 3-4%, probably you want to double check the current offers, new ones popping up all the time - and expensive ones disappearing all the time.
So I would not spend money for any which is hardly viable in the competition.
I believe we should have options and if there is better alternatives that crop up then that's good! At the moment Hive has zero options. There is no direct fiat VISA debit card or anything of that nature. I am sure Hive users would like to have something like this at a minimum. Additionally, this is just the first step. It's possible those fees will change in the future or be negotiated. It's better actually get something that works first. 100% of the users will be hivers which will benefit greatly from having such a thing.
They won't, because this is a garage project, and they use 3rd party services, so their fees never will be competitive. There are plenty similar ones, and they come and go. It can be an exeption, but hardly will be.
If Hive spend money for it, they should do a proper one, a competitive one, but that cost lot more - starkers made a vid with this manu guy few months ago about their tests, even that looks more promising.
In the end, it's all about the money, if you can't offer competitive prices, you will go down.
HBD-HIVE-USDT can be converted for very small cost, and then the above mentioned fees are near the best ones, so if you wanna operate with 2-4x fees, you gonna fail, obviously.
Nobody will pay that 2-4x just because this service is more direct.
Anyway, the core Hive team (i know, noting like this exist) don't use the Hive futures listing given benefits... still don't use it. Even Binance can be reached by this or other market leaders.
I mostly use the above mentioned crypto DCs, and they have really crappy coins listed, for example that bit2me has around 400 coins what can be swapped on their site, topup asap and spend + they have direct crypto payments option for travels (all have something similar, where you really can spend crypto) with discounts.
They even have 'Listing request' form on their homepage... just have to fill, and if Hive meets with legal requirements, they will add. Just have to go after a bit, but if they wait, how crim wrote, that others come to them and say, they want to come to Hive, then just similar ones will appear.
We definitely don't only 'wait', and have a lot of requests, meetings, and chase a lot of listings and partnerships, almost all of which comes from us going out and beating the drum and being evangelists. Hop in! But very silly not to also help the projects who are enthusiastic (same with other chains etc) come here specifically to be able to talk more about what they have and dare to run the gauntlet and prove their PMF. I don't actually even think most of your commentary is barely controversial~ and that's a good thing. Skepticism, disagreements, and requests for way more info is a pretty crucial part of governance. I look forward to the answers to the community and then editing them into the post, as they're great points about what's most important to users here and become great guidance for what should become standardized in governance rubric.
Zypto is not going anywhere!
We've also seen many projects come and go, including companies that white label our products.
Sometimes they fail because they try to compete on price with CEX, for example, without realising all the hidden fees their users are paying.
In real terms, our card offerings strike the best balance we are able between cost and sustainability, but of course we aim to reduce the cost to the end user and provide more perks over time.
Also, cards are just one part of what we do. Our suite of defi and payment products is growing constantly and our roadmap is long and exciting.
Not against you. Seeing you are not competitive with the fees, I see no point to pay for listing, especially not, when competitors would do it for free.
I've tried the Visa Global $50-500 virtual one, too. It gave for $500 exactly $526 so 5.2% + trx, swap costs + fx exchange fee, if you want to spend outside US. it's again 8%+
I've also tried crypto payment, gave quote for $100 payment for $108 - maybe cheaper with higher amount.
It's all about the free market. And Hive DAO wasting enough anyway, but you will get it, obviously, it's already decided, so we will see how many Hivers will use it!
Hi, thanks for your comment.
The fees on the cards in the app are 3.5%. That's it.
It seems the wrong card program is getting shared.
In any case, it's important to remember that this Zypto is not just 1 card program. It's a next-gen defi wallet + an eber-growing suite of payment options.
Thanks for posting this screenshot. I looked for their fees and couldn't find it very easily.
I agree with you that a profitable business seeing that HIVE has a market of potential users for their product would be able to self fund such an endeavor by the number of anticipated sign ups they'd get from the new blockchain support.
The proposal doesn't get my vote. :)
Hey!
That's not the cards that are in the app. It's one that we have s part of our white label offering for other companies to use and it's also quite popular with let's say "big hitters" in the crypto space. The ones in the app have different pricing.
We'll work our way through the comments and will likely circle back with clarifications.
Any project that gives more exposure to the Hive blockchain and makes Hive and HBD available to the masses with more use cases is surely welcome
Is the end result going to be fee-free for Hive users ?
As a matter of principle, I can't bring myself to vote for a proposal which takes funds as a grant from the DHF (i.e. the money we all jointly own if we've ever bought any HIVE) and then charges for the service it delivers without any mention of repaying the DHF.
In terms of a business plan, I'd love to see a bit more detail. What does success look like, over how long and how is it measured ? Is the 20K requested just a finger in the air, or is there a breakdown of how it's going to be spent ?
Finally, how is this going to be marketed ? What will it do to persuade non-Hivers to come onboard and become active users ?
Sorry if this is a lot of questions, but I believe strongly that the DHF is giving out too many HBD, and we should only be supporting proposals that have a really great business case which demonstrates how it'll improve Hive adoption in a cost-effective way. There's no point building wonderful tools for their own sake if adoption is only measured in the hundreds of users.
This isn't the type of proposal that directly onboards new users, rather makes Hive more useful for already existing users and makes Hive more attractive to new ones as well. For the price it is pretty reasonable and gives us quite a bit of value
Hey @crimsonclad, I don't know if the proposal will get voted through, nevertheless if @zypto are willing to integrate despite the proposal failure, I will commit all funds raised on @cube4stake account. The project was going nowhere either way.
~$120 is more than $0
Hi! We're loving the way this community works :)
It makes a refreshing change as compared to the endless screaming that exists in TG groups!
If you want to still go through with Hive integration, I'm keeping my word.
Hey Hive community!
First off, it’s been great to see the buzz of interest around Zypto’s grant proposal, as well as the overall healthy, constructive discussion going on. That’s what defi is all about and we love to see it! Communities working together to find a consensus is the essence of what blockchain and Freedom Money is all about.
We can’t wait to integrate Hive into every corner of the Zypto ecosystem and for us to get to know each other much better.
Also, an apology for not having been able to keep on top of all of the comments and questions. On one hand, there’s a bit of a learning curve we’re going through to keep track here on top of all the many many platforms we’re already active on. On the other hand, we’re 24/7/365 BUIDLing, of course!
As there appears to have been some confusion regarding fees for some of our products, below is a breakdown of the current fees for each product. – and where Hive‑exclusive perks could slot in.
Going back to the learning curve issue, the idea was to put all this in here, but it includes tables, which we haven't figure out just yet, so here's a link to a Google Doc:
https://docs.google.com/document/d/1WOmN35feE-izH_kZ__PbvzauXEpn_9fW/edit?usp=sharing&ouid=102031745174575262993&rtpof=true&sd=true
simply a no-brainer - VOTED
Thank you for your brilliant proposal post, @crimsonclad
We'll do our best to keep up with everyone's questions, doubts and comments and we're looking forward to buidling together.
Are they aware that Hive doesn't have paper wallets and they have to pay 3 HIVE fee for each non-custodial wallet they create for Hive?
This is their current system. They have to design a custodial solution specifically for Hive and I don't think that would work with their current wallet design.
Currently you create a crypto wallet in their app to hold your crypto and then pay for cards using those crypto. So to make Hive work with this design, they have to spend 3 HIVE for every user downloading the app and somehow derive a username from the mnemonic seed phrase. Of course this is a bad design but this is the only way I can see it working.
I personally don't think this is worth it. There are other services that provide similar non-kyc services that Hive would fit their design better.
VSC supports paper wallets and doesn't require 3 HIVE fee. This shouldn't be a problem.
A series of escrow transactions can be used instead of multisig one off accounts.
Nice. Let's see what we can do with my ATMs and POS. Saludos
Interesting proposal. I have a feeling there are more questions to be asked than answers. Will they be leveraging lite accounts (i.e. VSC or the upcoming HAF one) for the wallets?
No idea how this could work, "decentralized" and "custodial" does not sound compatible with each other.
Zypto App is a defi wallet and payments app. The only somewhat centralised part is for us to accept payments for our prepaid payment products (cards, gift cards, bill payments...). So, basically, users' funds remain their own on-chain until they choose to send them to us in exchange for a way to pay for stuff.
Fascinating! Looking forward to seeing a working product.
But for 20,000 HBD, please show how the funds are actually used. ie receipts :)
The funds will pay for developers that are being taken from other projects to prioritise Hive as well as subsequent maintenance, marketing and activation activities. We don't just want Hive users making use of Zypto, we want other Zypto users - past and present - getting to know Hive.
Is an assertion.
Receipts are the evidence the assertion was truthful. GAAP isn't hard for a business to provide. If you committed to using GAAP to account for the disbursements of the DHF funds you received, I could support your proposal. Until you do I cannot, as, for reasons having nothing to do with you, I have committed to withholding support for DHF proposals that do not commit to using GAAP to account for their disbursement of DHF funds.
Will Zypto be available in Canada?
Although my participation is small, I will support it.
Well Done
This would be a great use of DHF funds. The company appears very professional and forward-thinking with a complete and integrated suite of products. All the people complaining about the costs, have you actually looked at the cost of the Google and Apple Pay virtual card? Its acquisition and use cost is nothing, and at the end of the day, everyone uses their phones to pay rather than a physical card.
Finally, a real-life crypto integration project with genuine utility and massive growth potential. What's not to like?
And Zypto is not just cards. Our app is a full comprehensive defi wallet with a growing range of crypto payment products.
Thanks for taking the time to reply. I had a very good look through your very professional website last night and you have, what looks like a well thought out, integrated portfolio of products.
It was the different virtual and actual card products that caught the eye, however!
Best wishes and every success.
Where are you getting this from? The proposal itself? Edit: Oh, I"ve seen your other comment about the website.
I'm not concerned about the costs, more about the specification that elicited the costs and whether there was an open process that invited other developers to submit. In many ways, 20,000 HBD seems a very low-cost for a service that works.
Hive doesn't appear to ever be very professional when it comes to transparency regarding tenders or costings. I've given up asking and so 20k to partner with this established company who appear to be quite polished and have a seemingly good track record and product in place I thought was reasonable
We're already spending goodness knows how much on an HBD debit card and distriator project, neither of which appear to me, to have too much value for the chain.
I'm just happy if we partner with established companies with an organised vision of where they're going.
👍
What would be the 10 national coins accepted?. The budget it's a bit steep or is it just me?.
U.S., Mexico, Costa Rica, Honduras, Guatemala, Egypt, India, Pakistan, the Philippines and Malaysia
Just try to find out about it, because in the EU even getting cash from ATM with crypto debit card is hard for reasonable cost, especially if you do not want EUR, but some other currency. (near to impossible)
Their homepage doesn't list the ATM withdrawal countries. So, I guess, I have to try, would be surprised if it would work, unless they charge 10%+ for all the 'services'.
Their site: zypto.com
A year old ama what i quickly found with one of the founder.
Anyway, on their site, it looks like a Poland registered company.
No clue, why Hive should be paying for it, but they waste (better case) so much money from the DAO, this is really a better one.
Anyway, they would had to detail how much the costs will be for different transactions, because if it is out of reality cost, 5-10%+, then the hole thing is a lost call.
For example, sell crypto for fiat in their app + top up cards + withdrawal in a different fiat often cost 8-10% (I know, not much for the app itself, but the wild exchange rates.), while others offer it way under 5%.
Have to try and see.
+They would had to introduce this company, owners, operation, traffic etc - maybe an ama on Hive discord first with somebody from zypto- so how trustful it is. + They would had to make the DAO proposal from their account, but it's so typical from Hive...
Hey! I actually will be doing an AMA with them, and yes, they will be doing all the answering of questions. So the fact that I'm posting the proposal is simply because up to this point, we've literally never had anyone from outside the ecosystem even attempt making a proposal. Since I do a lot of the b2b work it's simply a way of helping out as a liaison to make these types of proposals more normalized, with outside groups actually trying to figure out how to work with and directly engage with the community. That's why it's a proposal and not something that gets smashed in under a quasi foundation or what have you :)
Great. Do we know yet when the AMA will take place? Many thanks.
Can you please confirm if the fees someone posted below are real?
Unfortunately.
Don't misunderstand me, I love the idea, but nobody will use it with this service provider, as it is insanely expensive. I've tried the crypto bill payment on their site, too. $100 and selected the USDT on Polygon as the cheapest trx fee is there.
This is what i get:
So 8% fee on crypto bill payment...
You can check on their site, dont need to register for a quote, just fill with fake data till you get final payment amount. zypto.com/personal/pay-bills-with-crypto/
It would be great to do with 1 of the DC provider, which the Visa, MC support. For example, in Europe, the Tap, Gemini, Nexo ones, they are in MC crypto card program, much less fees, free card or Wirex also pretty good. (I don't know about the rest of the world, but sure, you can find good ones everywhere, and making a deal if Hive is paying for it, must be simple + they all have already huge userbase.)
In this form, it is just waste of money. If it would be 1-2% diff, maybe, but it is off by 5-8% compared to other similar services. That's why it is unknown, and nobody use it, they go after small (or dying) chains. Their yt channel have 700 subs...
Let us see if Crim responds
The Zypto team will come thru and answer all the questions (they're a global team from North America to Europe, but the member answering is in a timezone that isn't online for a little bit) because the proposal is not by or for me. That being said, these are old fees on a product that they don't offer anymore–but I will again let them specifically come thru and happily be able to look at and address all concerns! That's the point of proposing something :)
I was going to say, if you compare this against the other proposals, its pennies. On a relative scale, this seems like a great proposal.
Ok for what I see on your comments this seems a really bad service, no way Hive should fund this for no benefits at all. Even it's not clear if the company is trustworthy, I hope the proposal gets rejected.
I wouldn't worry about their trustworthiness, at least, it isn't no1 issue. It cost a lot to create service like theirs.
My main point, it isn't competitive at all vs. market leaders (hardly vs any other competitor) + better established competitors would do it for free, whom have much bigger userbase (no data about zypto's active userbase).
Sure, it'll go through, so we'll see the result. The idea is good, but paying for this one doesn't make sense to me.
"Just try to find out about it, because in the EU even getting cash from ATM with crypto debit card is hard for reasonable cost, especially if you do not want EUR, but some other currency. (near to impossible)"
Just curious: why would anyone want physical cash in another currency in the euro zone? What would you do with it ? Why would anyone expect that service be available at all ? It sounds outwordly. I travalled to Japan in Spring and I would have loved to be able to leave Europe with Japanese Yen in cash. But I went to inquire at the bank for that, at no point I expected Yen to be available at random ATMs in the Eurozone ...
Well, I didn't write in the Eurozone, I wrote in the EU, but more correctly in the EEA countries, but generally in Europe. It effects nearly half of Europe. Outside Eurozone, only in the UK exist GBP based similar services.
If you want to withdraw local currency in Norway, Switzerland, Denmark, Hungary, Poland, Romania, Ukraine and in another dozen+ european countries, you only can do it by paying the fx exchange fees.
20k HBD is a lot, remember that after this any member of hive who decides to partake will have to pay 3 HBD That's a no for me, I love the services they render but we don't fit into their system completely
Where are you getting 3 HBD from?
misinformation
i think this might be good to show more ppl ab hive :3 so why not
Is this going to be instead of Transak?
Nothing that anyone makes every replaces anything else! Freedom tools means freedom of choice. The big purpose of having as many outside services and projects check out Hive and look at how to work specifically with our tech and community is to get the widest range of options providing risk aversion, self sovereignty and convenience tools. Then it's up to everyone to pick the ones they like best~
Transak does something different. This is about getting direct fiat connections using debit cards
(and US and global fiat direct bill payments, fiat buying/on ramping etc., high limit light kyc cards, one time use multi currency no kyc cards, MoneyGram, etc.) We've never had an outside provider with the balls to approach with a wide variety of tools and tackle tough questions while exploring how to integrate a novel L1 respecting self custody and allowing people to combine their Hive and HBD usage with their other freedom money, which is the whole point of having a social proposal system and onchain feedback loop! They'll be answering most of the questions and using their social account here too; I'm not speaking for them, just helping that first leap into the deep end with the proposal creation~
Tnx 😉
And a lot more than cards
This is worthy of throwing a weight on
!ALIVE
!INDEED
Good idea, but just too expensive to use and there are so many other options out there that are so much cheaper.
If you find an app that has everything Zypto has, please let us know.
Do not take this the wrong way as I think it is still a great option for HIVE and it's community. Having off ramps is what we have all been asking for. Could I use this card in South Africa?
Hi. Sorry for the delay replying. Just found the notifications!
Different products work in different regions. For specific questions, it would be best to contact our support team on the app, via zypto.com or on [email protected]
We have very very nearly 24/7 live support.
I’m all in on this one…
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STOPlooks awesome, i would like do some contributions with the frontend :D
Amazing, I love it!! 😃
Couldnt we do something like Nexo did? Partner directly with mastercard and visa.
These fees seem high but if you take into account, trading and transaction costs to get to what I use now, a crypto.com card, its still a bit too high but manageable. Id need to check what the numbers are.
I know mastercard has a crypto card program. Visa has a debit card program.
Im not exactly sure of the cost, compliance might be an issue but i dont think its over 50-100k and we could set fees and everything.
Visa and MasterCard don't partner directly with anyone apart from issuing banks/principal partners. That costs around $1m per region per card scheme.
Most programs actually involve 3 parties; the card scheme (Visa/MC), the principal partner (bank) and a card management company. We are the latter.
We have partnered with multiple issuing banks and work with them to provide both B2C and B2B2C programs (white label).
And don't forget, Zypto isn't just cards!
That actually would make sense, especially, if you could come up with competitive fees.
You mentioned Nexo, they reshaped their reward/benefit program, so %age of acc amount has to be in their native coin for better benefits. Here it could give reason for people to power up Hive, even if they are totally newbies, just coming for debit card.
Anyway, the ones what I mentioned above are in this MC crypto card program.
MC also has a Crypto Credential program Wirex and bit2me is participating in that.
Partly that's why these are the market leaders. They can offer the best fees with MC.
Hardly think you can make deal with MC, but you definitely can make deal with Tap, Wirex, Nexo, bit2me. And you get access to a huge userbase exchange, card provider + Hive users could get very competitive prices.
Will it be open source?
The funds will pay for developers that are being taken from other projects to prioritise Hive as well as subsequent maintenance, marketing and activation activities. We don't just want Hive users making use of Zypto, we want other Zypto users - past and present - getting to know Hive.
That was meant to be a reply to a different comment.
Zypto is not open source.
Until a comment has been interacted with, such as by being voted on or replied to (as you have done here), you can delete it using the '...' menu.
FYI
$WINE
Are you still selling votes with your bidbot?
$WINE
What are your fees? How can we get the card? Ships globally ?
Thanks for the information. Best regards.
Expensive, but I think worth a try
I am so interested in crypto and exploring new apps, this sounds pretty exciting, Integrating Hive with Zypto could make it easier to manage digital assets and use them for everyday stuff like bill payments and even getting prepaid cards
We have different options to choose but the only thing I've learned was choose the right decision that doesn't harm us or make a bad results for us. Seeing this was also the best option we choose right? How I wish I can joint that.
!PIZZA !LOL
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I love the proposal, it adds great options to our community and makes Hive more visible. It's really a great idea, thanks for sharing it with everyone. It has my support, I just voted yes!
Outside partnerships like @zypto are very important for us to break out of the silo. Most people on HIVE do not realize that there is a massive divide between them and the normies. I feel like HIVE is like the Linux community. We need to do things that cater to normies even when those things are more expensive. Imagine forcing everyone to use a CLI whenever it is more efficient than a GUI. Instead of learning CLI, most people drop Linux.
Hi, nice to meet you :)
We totally agree. We consider that one of our roles in the blockchain space in general is to provide a friendly, easy-to-use and easy-to-understand set of tools that make it easier to bring the (let's face it, often slightly nerdy and niche) communities in the space and the normies closer together.
We're not fully there yet, but we're certainly working on it! One of the most important aspects of this is to integrate both technologies and communities into what we do and vice versa.
Looking forward to continued bridge building both within Hive and beyond.
¡Happy Hiversary! 🥂✨
Honestly, I haven’t had much time to properly read through the proposal, but I will… thank you! And happy 8th anniversary on Hive... celebrate it!
What ten countries are on the slate initially?
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STOPor to resume write a wordSTARTThis is a great initiative and I'm all for it. Fully support your content and proposal.
People want choice.
Thanks support
A little update: https://peakd.com/zypto/@zypto/zypto-hive-integration-update
Awesome.
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$ 20,000 is peanuts.
I could fund this myself.
I vote Yes.