CTX.com Continued Development (Merchant Dash Payment Processing, Consumer On/Off-Ramp, Pricing Data, etc.)
Please note: Our last proposal payout was September 2021. Since then we have used a small buffer and then largely self-funded our costs. This undertaking reduces the exposure and risk the DAO faces and it's worth noting that our actual budget is less than $10000 a month - I always welcome feedback on this approach.
- DashDirect Support and Expansion
- CTX.com Continued Progress + Private Equity
- On-Ramp Beta
- Accelerator + Visa Progress
- THORChain Integration Work
- More DashDirect support (Mastercard program)
- Off-Ramp Release
- On-Ramp Release
- 10,000 NFC Cards + 50 POS Devices Issue
As the payment provider for DashDirect we've been thrilled to see how well it's been received by the community, our system has maintained 99.99% uptime. Marshall and the Dash Direct team are continuing to work closely with us as we both expand.
The Dash Investment Foundation (DIF) also holds equity in both our company and Dash Direct.
CTX.com Continued Progress + Private Equity
We've received a lot of support from the DAO historically, but to expand our bandwidth we are now starting to raising some funds via private equity. We continue to build and expand our business case with revenue from the business going back into development that benefits Dash and the wider crypto ecosystem, making Dash more accessible for merchants, integrators, consumers and more.
We briefly launched our on-ramp in beta, but are making significant changes before full release. The current card processor (no-KYC below certain amounts) unfortunately required the user to enter a code from their bank account. This code was a huge point of friction, being hard for users to find or not at all visible with several banks. Whilst we're still keen to launch a non-kyc on-ramp for small amounts, ultimately our current plan to relaunch will have KYC and be as simple as possible for users to buy (and sell) Dash.
Accelerator + Visa Progress
We were accepted into the Launch.VC accelerator (Launch Academy) and continue to work closely with them refining our product and continuing along their program. This has resulted in receiving a Start-up Visa to permanently move ourselves and our operations to Canada.
THORChain Integration Work
It's important to note that the Dash integration on THORChain is part of the Dash Incubator because its outside the scope of our main proposal. We've received fantastic support from Rion and the other admins and Alex has fully built out the Dash integration with numerous supporting changes in DCG and THORChain repos and more. THORChain forms an important part of our future direction for CTX so this experience has been invaluable.
More DashDirect support (Mastercard program)
As DashDirect expands their service offerings, we'll be expanding our product line with them. With the non-KYC mastercard program its more important than ever our system is ready to scale with multiple nodes and greater redundancies. We'll also be adding more DD specific requested features to our system to continue to provide them with the best payments processor for their needs.
On + Off-Ramp Release
Our on and off-ramps (for both merchants and consumers) still need more work before we're confident in releasing them publicly. We'll be making improvements to it and increasing our geographic coverage and onboarding more payment partners this cycle.
Update on Cards + POS Devices
Dash Mall and Parking have been defunded and unfortunately have ghosted us when it comes to the payment devices we sent them. The devices represented quite a lot of work and we're hopeful that time investment will still be valuable in the future for physical crypto point-of-sale devices. For now, we consider the cards and POS devices we sent them lost. Dash Help still have some devices but ultimately the time-investment is not worth it in this area right now.
Dash Core Group
We work closely with DCG on various aspects of our platform and will continue to do so.
As their payment partner we work very closely with the DashDirect team and will be aiding them in all aspects of their system and expansion.
Dash Investment Foundation
As part of the DIF portfolio, we will be readily available to partner with other DIF companies to provide any payment solutions they need.
Dash Help + Support
The Dash Help team have provided invaluable feedback on Dash Retail (now CTX) and we'll continue to work with them as they identify merchant issues and grow.
Dash Text is fully integrated into Dash Retail (now CTX) and we'll be working closely with this team and their ongoing developments.
CTX.com is live and can be used by anyone, please feel free to use it and provide feedback. If you're interested in receiving hardware devices or NFC cards or want to set up fiat off-ramping, please reach out to us.
Transparency + Accountability
Dash Retail and CTX are operated by Astound Group Ltd (UK) and CTX.com Trading Ltd (BC, Canada) which are both owned 45%-45%-10% by Ash, Alex and the DIF respectively.
All of our finances were historically reported at a granular level to Dash Watch and we're happy to continue that, we'll look to open up our books more too as I'm a keen supporter of transparency.
Our last proposal payout was September 2021. Since then we have used up a small buffer and then largely self-funded our costs, reducing the exposure to the DAO. This proposal asks for 180 Dash for 3 months but helps cover the unfunded period as well as the next few months. These funds will be mostly be spent on development as that is our focus right now.
We always try to be as respectful of the DAO as possible, taking very low salaries to keep ourselves just afloat (I am also not taking a salary currently whilst I manage to balance Incubator and DR/CTX work). Longer-term we are looking to becoming more and more self-sustaining, and to the point where we return dividends to the DAO via the DIF.
Get in Touch
We are happy to answer any questions either on this proposal or you can reach out directly on the details below.
Thank you for reading and for all your support.