Drips to Fiat On/Off Ramp

Radworks Grant Application

  • Project Name: Drips to Fiat On/Off Ramp
  • Team Name: Cloudouble Pty Ltd
  • Payment Address: 0x80A29410CdDCb7E1B6469042C1CDD04fec02fc9b
  • Category: Core Infra

Project Overview :page_facing_up:

This project will create a fiat currency on/off ramp for Drips. The end result will not be intended as a separate stand-alone service, but rather a way to add fiat on/off ramps to Drips which can be implemented and owned by service providers who wish to use Drips as a payment infrastructure for their services. This may or may not include the Drips core team, at their discretion.

Overview

Drips is a great system for compensating code creators equitably and automatically, with potential applications that reach far beyond funding open source software. However, a key weakness is that it is currently only available to both supporters and creators who are able to use cryptocurrency. People can have many valid reasons for not being able to use cryptocurrency, not the least of which is that some major countries currently ban or severely limit the legal usage and holding of cryptocurrency.

This project will create a way to overcome that problem, and the solution will be available for use by the Drips core team if desired, as well as by anyone developing a service that uses Drips as a payments backbone and whose end-users will benefit from fiat payments and payouts.

Key deliverables will include:

  1. an initial report into possible approaches, an analysis of the pros and cons of each, and a recommendation of the optimal solution which preserves decentralization and resilience as far as possible
  2. a prototype of the chosen solution, as a repository, this will not be a turn-key service but rather a demonstration of the solution and a set of usable blueprints that service developers can use to jumpstart and guide their own customized implementations, including both front-end and backend aspects.
  3. (if possible) a pre-built re-usable custom web component that encapsulates the solution front-end in an opinionated way and which can be included with a single HTML tag (e.g. <drips-fiat-onramp></drips-fiat-onramp>). If this turns out to be not viable, then this milestone of the project will be omitted.

A placeholder Github repository has been created at https://github.com/Cloudouble/drips-fiat-ramp , this will be used for the final deliverables of the project.

Team :busts_in_silhouette:

Team members

  • Name of team leader: David Pitman
  • Names of team members: at this point it is just me

Contact

Legal Structure

  • Registered Address: Fortitude Valley QLD 4006 Australia
  • Registered Legal Entity: Cloudouble Pty Ltd

Team’s experience

David has been a full-stack developer for 20 years. He is the creator of the open-source Element web development framework, which is available at https://elementhtml.dev

Previously in the web3 space, David has been involved in the creation of a number of NFT projects as a contractor (not the project owner), being the lead developer creating the web sites, smart contract integration and the smart contracts themselves, such as BabyBoomerNFT.

Much longer ago, David created the first (now long superceded) PHP SDK integration for the Xero accounting platform, you can see the code at https://github.com/drpitman (note the separate, older and now unused Github account!)

David previously applied for the Element Package Repository Radworks grant, and this current grant application is a response to feedback received from that application, and is one of two grant applications that will stem from the work required to ultimately make the Element Package Repository a reality. This represents restructuring that project into two chunks that will each be more beneficial to the wider community and less tightly tied to the roadmap for Element.

Team Code Repos

Team LinkedIn Profiles (if available)

Project Description :page_facing_up:

I am applying for this grant because I believe that the Drips platform is a great way to compensate creators equitably and automatically, however a key barrier to adoption is the lack of fiat support within the system.

I personally have more than one project that I would use Drips for right away, except for this missing feature - pretty sure I wouldn’t be the only one in this situation. The addition of fiat support will make it possible for broader adoption of Drips by service developers.

Deliverables :nut_and_bolt:

Please list the deliverables of the project in as much detail as possible. Please also estimate the amount of work required and try to divide the project into meaningful milestones.

  • Total Estimated Duration: 4 weeks
  • Full-time equivalent (FTE): 15 days
  • Total Costs: 10,000

Solution Report

  • Estimated Duration: 1 week
  • FTE: 3 days
  • Costs: $2000 USD
Number Deliverable Specification
1. Drip / Fiat Ramp Solutions Report A report outlining the discovered solution approaches, including pros and cons of each, a listing of possible fiat ramp providers and payment gateways along with the features, pros and cons of each provider, a recommendation of the optimal solution which preserves decentralization and resilience, and a brief overview of useful alternative approaches and when they might be useful. Intended to give potential integrators a clear understanding of the problem/solution at hand (which is more complex than it might casually appear!) and to give them the resources to make an informed decision about how to proceed.

Solution Prototype

  • Estimated Duration: 2 weeks
  • FTE: 9 days
  • Costs: $6000 USD
Number Deliverable Specification
1. Prototype Blueprints A set of reusable blueprints that service developers can use to jumpstart and guide their own customized implementations. They will be available in the repository and written in JavaScript/HTML/CSS as required. Documentation will be provided within the code itself, in addition to the README.md in the repository to guide potential implementors. Not intended to be a single solution, but instead a set of helpful blueprints and guides which will assist an integrator to create the solution that is most appropriate for their needs.

Reusable Custom Web Components

  • Estimated Duration: 1 week
  • FTE: 3 days
  • Costs: $2000 USD
Number Deliverable Specification
1. Drips Fiat OnRamp Component A single custom web component that encapsulates the UI for the on-ramp process for supporters wanting to use fiat with Drips to support creators. It will provide a convenient and opinionated way to quickly integrate Drips payments into an existing application with the tag <drips-fiat-onramp></drips-fiat-onramp> and the appropriate attributes.
2. Drips Fiat OffRamp Component A single custom web component that encapsulates the UI for the off-ramp process for creators wanting to receive fiat payments for funds recieved through Drips. It will provide a convenient and opinionated way to quickly integrate fiat payouts from Drips into an existing application with the tag <drips-fiat-offramp></drips-fiat-offramp> and the appropriate attributes.

Note: the components will be built using Element framework, but will be directly portable into any web application, including those that are not using Element. The finished component files will be structured, documented and published to allow for immediate use by application developers.

Future Plans

The deliverables of this project will be available to the Drips developer community to use in their projects. I will be using them for a number of other projects, and this in itself will necessitate keeping them maintained into the future.

Additional Information :heavy_plus_sign:

How did you hear about the Grants Program? Originally by Google Searching, but that was a while back now - have been silently following Radicle in general for a few months now