How can volunteers cash out?

luisivan commented 4 years ago

We will integrate a fiat-to-crypto payment provider for donors to put money in.

But once volunteers request reimbursements and they have them in Dai, how can they cash that out to their local currency easily?

Is there an easy crypto-to-fiat offboarding service?

luisivan commented 4 years ago

Pinging @drknudy here

enriquegasch commented 4 years ago

I was the central bank of the 15M movement at Barcelona, what we did it was to pay first for one action, and wait for the bill, if there wasn't the bill no more money was released.

Proof of bill.

yeqbfgxjiq commented 4 years ago

Onramps

MoonPay

Ramp Instant - radically better crypto onboarding

Wyre - Crypto API for payments and KYC cryptocurrency verification

Offramps

Mooni

Both Ramps

Local Cryptos

Bisq - A decentralized bitcoin exchange network

troggy commented 4 years ago

IMO easiest option to cash out reasonably small amounts of crypto in Russia and Ukraine is to use one of the custodial exchanges. There is a handy rating for such exchanges maintained here: https://www.bestchange.com/ (RU).

Keep in mind that these exchanges are operating on trust and not legally registered, so be careful:

select exchanges with 500+ positive ratings. This is easy to gamble though, so read on.
split big payouts in parts
use popular exchange directions (e.g. ETH → Tinkoff/Alphabank). These have more activity and thus more ratings, more competition and better rates.

DAI is less liquid on these exchanges, so it is better to sell DAI for ETH on Uniswap or Oasis and then use one of the ETH-something exchange direction. You will get better rates this way.

pacoccino commented 4 years ago

Hello there, I am the developer of Mooni.

I would love to discuss what I could do to facilitate volunteers cash out.

Would the funds be inside a Vault in aragon, volunteers holding DAO tokens, and need to vote for withdrawing the funds ?

Need to mention that Mooni is only working in EU with EUR and CHF.

leckylao commented 4 years ago

Hi @burrrata @luisivan ,

I am interested in the bounty but I have a different approach about the ramps, please review if that's what you want and if it's legible for the bounty then I can implement a demo for it.

Onramp:

Use GSN with Credit Card. As shown by using meta-transaction everyone can easily donate using credit card, their info. can be stored in the contract as email/discord handle. This approach also align with Aragon's rollout Meta Txs: Adding support for meta transactions in aragon apps (Part 1) and Meta Txs: Adding support for meta transactions in aragon apps (Part 2). Therefore in future they could do voting and other actions on Aragon. Which you can't do this with one-off payment solution like Wyre etc.

Offramp:

In the demo I can add the withdraw function which withdraw crypto to specific address. And I would suggest the following ways from crypto to fiat:

Crypto ATM I have tried this personally and I have good experience with it. It's good and fast for small amount, KYC is done with text message.
Debit Card There's multiple debit card options and I have one from TenX, this way you can just withdraw crypto to the debit card crypto address then you can use the debit card anywhere.

pacoccino commented 4 years ago

Hi @leckylao

For onramp: I'm a big fan of meta transactions, we just need to balance between what technology is ready for it, and when, and if the tools are enough mature to distribute it to non-crypto native.

For offramp: Agree with you on the fact that the funds should be first withdrawn to the user personal crypto wallet anyway (they will already have a wallet anyway, to be able to authenticate and interact with the DAO).

When, and if, they want to go crypto>fiat, as there are many different solutions on the market, and considering that depending on what country you live, you may have access to some and not to other off ramping solution, the best thing would be just to display the different solutions they have. Such as TenX/Monolith/Mooni/Crypto ATM, .....

We can even think creating a small app/website that ask some question about the user such as country, prefered way of payment (wire transfer, cash,...), and give different solution available

leckylao commented 4 years ago

Hi @leckylao

For onramp: I'm a big fan of meta transactions, we just need to balance between what technology is ready for it, and when, and if the tools are enough mature to distribute it to non-crypto native.

Meta transaction was proposed on Aug 2018 and Openzeppelin published their version on Sept 2019. Till now it's been 1.5 years so I believe it's quite mature.

For offramp: Agree with you on the fact that the funds should be first withdrawn to the user personal crypto wallet anyway (they will already have a wallet anyway, to be able to authenticate and interact with the DAO).

With meta transaction user don't need to have their own crypto wallet and can still authenticate and interact with the DAO. Which is in development on Aragon (links I mentioned in the last comment). Therefore withdraw fund address can be a total different address e.g. exchange/TenX address etc.

When, and if, they want to go crypto>fiat, as there are many different solutions on the market, and considering that depending on what country you live, you may have access to some and not to other off ramping solution, the best thing would be just to display the different solutions they have. Such as TenX/Monolith/Mooni/Crypto ATM, .....

We can even think creating a small app/website that ask some question about the user such as country, preferred way of payment (wire transfer, cash,...), and give different solution available

It's a good idea, always good to have example/guide user for how to cash out.

helpdao / help