Wert.io Payment Integration on K9 dApp

[ShelbyGT500]

K9 Finance Proposal: Wert.io Payment Integration

(1) Introduction and Objective

This proposal suggests integrating Wert.io, a fiat-to-crypto payment gateway, into the K9 Finance dApp. This integration will allow users to purchase $KNINE and $BONE directly using fiat currencies (USD, EUR, GBP, and others) via credit/debit cards and potentially other payment methods supported by Wert.io. The objective is to simplify the onboarding process for new users, provide existing users with more convenient purchase options, increase the accessibility of $KNINE and $BONE on the Shibarium network, and generate a small revenue stream for the K9 Treasury.

(2) Benefits to K9 Finance Community

• Simplified Onboarding: New users unfamiliar with cryptocurrency can easily purchase $KNINE and $BONE without needing to navigate external exchanges or complex crypto-to-crypto swaps.
• Increased Accessibility: Fiat on-ramps lower the barrier to entry for a wider audience, potentially leading to increased adoption of $KNINE and $BONE.
• Expanded Payment Options: Users gain more flexibility in how they acquire $KNINE, supporting a broader range of users and regions.
• Potentially Increased Trading Volume: Easier access to $KNINE could lead to increased trading volume, potentially benefiting all holders.
• Optionality for NFT Integration: Wert.io also offers potential for future integration with K9 DAO related NFTs, adding more functionality at no initial cost.
• Treasury Revenue: A 1% fee on transactions will contribute to the K9 treasury, providing additional funds for development, marketing, or other community initiatives.

(3) Proposal Details

(a) WHAT

• Integrate the Wert.io payment gateway into the K9 Finance dApp, allowing users to purchase $KNINE and $BONE directly with fiat currencies using supported payment methods (primarily Visa and Mastercard, but potentially others depending on Wert.io’s capabilities).
• Implement a 1% fee on all Wert.io transactions, with the proceeds going to the K9 treasury.
• Explore the use of the same Wert.io account for possible future integration of NFT purchases and sales.

(b) WHO

• K9 Finance Development Team: Responsible for the technical implementation of the Wert.io integration.
• K9 Finance Management Council: Overseeing the integration process and ensuring it aligns with DAO goals.
• K9 Finance Community: Benefits from increased accessibility and simplified purchasing options.
• Wert.io: Provides the payment gateway service and technical support.

(c) WHERE

• The integration will be implemented directly within the K9 Finance dApp, providing a seamless user experience.

(d) WHEN

• Phase 1 (Weeks 1-2): Research and Planning
• Contact Wert.io to confirm integration details, fees, and supported currencies.
• Finalize technical specifications for dApp integration.
• Phase 2 (Weeks 3-6): Development and Testing
• Integrate Wert.io into a staging environment of the K9 Finance dApp.
• Thorough testing of the integration, including different payment methods, currencies, and transaction amounts.
• Security audit of the integration.
• Phase 3 (Week 7): Launch and Monitoring
• Deploy the Wert.io integration to the live K9 Finance dApp.
• Closely monitor the integration for any issues or bugs.
• Gather user feedback.
• Phase 4 (Ongoing): Optimization and Expansion
• Evaluate adding support for more currencies
• Assess adding additional token support (if applicable)
• Explore options for future expansion of the K9 dApp, such as an NFT marketplace.

(e) HOW

• Technical Integration: The K9 Finance development team will work with Wert.io documentation and support team to integrate the necessary APIs and widgets into the K9 Finance dApp.
• User Interface: A user-friendly interface will be designed within the dApp to guide users through the fiat-to-crypto purchase process.
• Security: The integration will adhere to best practices for security, including secure handling of payment information and compliance with relevant regulations.
• Funding: No funding will be necessary for this proposal as the integration of the Wert.io is free.
• Fee Implementation: The K9 Finance development team will work with Wert to configure the additional 1% fee to be collected and directed to the K9 treasury.

(4) Impact Assessment

• Short-Term Impacts:
• Increased accessibility of $KNINE and $BONE for new users.
• Potential increase in trading volume.
• Positive media attention and community excitement.
• Small revenue stream for the K9 Treasury.

• Long-Term Impacts:
• Growth of the K9 Finance ecosystem.
• Increased adoption of $KNINE as a core asset within Shibarium.
• Stronger foundation for future DeFi integrations.
• Increased funding for DAO initiatives.

• Risks and Mitigation:
• Risk: Wert.io service fees (4% + 1% = 5% total, paid by the user) could be a deterrent for some users.
• Mitigation: Clearly communicate the fees to users during the purchase process. Explore potential partnerships or promotions to offset fees. Highlight the convenience and security benefits of using Wert.io.
• Risk: Technical integration issues.
• Mitigation: Thorough testing and close collaboration with Wert.io support team.
• Risk: Regulatory changes related to fiat-to-crypto onramps.
• Mitigation: Stay informed about regulatory developments and ensure compliance.

• Metrics for Success:
• Number of new users purchasing $KNINE and $BONE through Wert.io.
• Total volume of $KNINE and $BONE purchased through Wert.io.
• User feedback and satisfaction with the integration.
• Growth in overall K9 Finance dApp usage.
• Amount of revenue generated for the K9 treasury through the additional 1% fee.

(5) Pros and Cons of the Additional 1% Fee

It is important to consider this additional 1% fee, as it’s a key part of your modified proposal.

• Pros:
• Treasury Funding: Provides a direct and consistent revenue stream for the K9 treasury, supporting ongoing development, marketing, and community initiatives.
• Potential for Increased Value: If the additional revenue is used strategically (e.g., for buybacks and burns, or to fund growth initiatives), it could positively impact the value of $KNINE.

• Cons:
• Increased Cost for Users: A 5% total fee (4% Wert.io + 1% K9) is relatively high for fiat-to-crypto purchases, potentially deterring users.
• Competitive Disadvantage: Other platforms or methods of purchasing $KNINE may have lower fees, making them more attractive.
• Potential Negative Perception: Users may perceive the additional fee as excessive or unfair, especially if it’s not clearly communicated and justified.

If the extra 1% additional fee is unpopular, this addition can easily be removed from the proposal.

Thanks for your time.

[Seizanshib]

Proposal for Visa and Revolut Buy Integration on K9 Finance Website and dApp

Summary: This proposal aims to integrate Visa and Revolut buy options on both the K9 Finance official website and the upcoming dApp. By partnering with companies like Moonpay and Revolut, this integration will allow users to purchase $KNINE and other supported tokens directly using their Visa cards or Revolut accounts, enhancing accessibility and user experience. Motivation: As K9 Finance grows, providing easy and flexible payment options, such as Visa and Revolut, will attract more users and…

@buzz

In order for this to be a proposal that could be analyzed and go to vote with KNINE token holders there will need to be a specific & accurate budget, implementation plan, and cost.

Right now, while this could be a good idea, it is really just an idea and requires someone to do the heavy lifting to speak with the vendor, finalize costs, and structure an implementation plan.

Since this is not a direct roadmap item as of right now, internal development efforts need to be spent on fulfilling the roadmap

[ShelbyGT500]

For additional information: The technology used by shib.io and Shibaswap to enable direct purchases of Bone using fiat currency is provided by Wert.io. I have personally used this payment option several times and found it to be a quick and convenient way to acquire more Bone while utilizing Shibarium. The process is as straightforward as using Apple Pay or PayPal on typical websites. For those interested in learning more, I’ve included a link to the Wert.io documentation: Introduction.
According to the documentation, integrating this payment system can take anywhere from a few days to a couple of weeks. It would be valuable to hear a developer’s perspective on this after reviewing the information.

I strongly believe that platforms offering a seamless transition for both existing and new cryptocurrency users will achieve the highest adoption rates and customer retention. Consider the impact Robinhood had by simplifying the purchasing process, allowing users to buy in seconds at any moment throughout their day.

[BigBoi]

Integrating Wert.io or any other payment option into K9 Finance will make it easier for new users to buy $KNINE and $BONE potentially boosting adoption and supporting the community. Is a go for me

[RyanCayon]

I was just about to mention this when I saw your reply. Maybe we should merge these discussions together.

[Joyride01]

I believe it’s too soon for something like this.

[turtle]

Based on the documentation Wert provides, this proposal would not add KNINE as an option for direct fiat purchase, but would just add the Wert buttons inside Bonecrusher. The same effect could be achieved by linking to the existing integration Wert has with BONE without any additional cost.

If the goal is to make it easier for users to buy BONE while using Bonecrusher - this makes sense to me. Instead of integrations / adding cost, could we just add a button to buy bone and have it present a few different paths, including Wert?

This proposal needs more detail/refinement and will not be presented to Roundtable until it reaches a more mature state.

[buzz]

If the goal is to give users of Bonecrusher a way to buy BONE with a credit card, the easier implementation is to have a button that links direct to the Shib.io page to purchase directly from the Shib team’s integration and support our partner.

I also keep in mind that the target user of K9 is likely someone already in the Shib ecosystem

[ShelbyGT500]

Revised Plan Moving Forward for K9 Finance Wert.io Integration

The community reviews raised valid concerns about cost, technical feasibility, and redundancy with Shib.io’s existing Wert.io integration. This revised plan prioritizes the goals while addressing these concerns through a phased, cost-effective approach that maximizes user experience and KNINE exposure.

Summary of Revised Plan

Objective 1: Simplify BONE Purchases

Action: Add a “Buy BONE” button in Bonecrusher that links directly to Shib.io’s Wert.io integration for fiat-to-BONE purchases.

Rationale: Leverages Shib.io’s existing, compliant infrastructure, avoiding development costs for K9 Finance while providing a seamless user experience.

Implementation: Design an intuitive button with clear labeling (e.g., “Buy BONE with Card”) and ensure a smooth redirect to Shib.io’s checkout, with a return to Bonecrusher post-purchase. Include tooltips or guides for first-time users.

Objective 2: Enable KNINE Purchases

Action: Enhance Bonecrusher’s swap functionality to allow users to convert BONE (or other tokens like SHIB, ETH) to KNINE.

Rationale: Since Wert.io may not support direct fiat-to-KNINE purchases, this provides an immediate solution for users to acquire KNINE after purchasing BONE.

Implementation: Add in-dApp prompts or tutorials (e.g., “Step 1: Buy BONE. Step 2: Swap for KNINE”) to guide users.

Objective 3: Long-Term KNINE Integration with Wert.io

Action: After 6-12 months, assess demand and feasibility of adding KNINE to Wert.io for direct fiat purchases if Wert.io confirms we qualify.

Rationale: Increases KNINE’s visibility among merchants and users in Wert.io’s ecosystem, boosting brand recognition.

Implementation: If feasible, integrate KNINE into Wert.io while maintaining the Shib.io link for all purchases saving extra development costs.

Lastly, if the extra 1% additional fee is unpopular for additional Treasury Funding, this addition can easily be removed from the proposal.