Change the way we handle paying for subscriptions

21

There are several options. i think one would fit the need here. course, its not my decision :slight_smile:

22

Thank you @nikhil for the great explanation! I think this aligns with what we are looking for, Iā€™ll bring it up in our next governance meeting and move forward with the DAO onboarding if everyone is ok with it.

2 Likes
23

Following up on this conversation with Nucleus about changing the way we pay for subscriptions I propose the creation of a Giveth multisig account that holds funds in USDC for the payments of monthly subscriptions of services. This account would be managed by a group of trusted individuals, who would be responsible for approving transactions and ensuring the proper use of funds.

The registration of the DAO in Nucleus requires some KYC aspects and needs a volunteer to register it, once the Giveth account is created and connected to the Multisig the process is pretty simple:

  • Create a virtual card for a specific team, proposal, project, budget, subscription, event, etc.
  • A transaction is sent to the connected multi-sig to transfer USDC to a Nucleus-managed escrow wallet to fund the card. USDC from this wallet may be withdrawn back to the multi-sig at any time to reduce the cardā€™s available spend.

You can find the full Nucleus onboarding guide here.

For the implementation of this I outlined the following steps that would need to be discussed/agreed on.

  • Create a Giveth multisig account on Gnosis Safe
  • Identify a group of trusted individuals to manage the account
  • Develop a system for the submission, review, and approval of subscription payment requests.
  • Fund the account with USDC
  • Provide regular reports on the accountā€™s activity to the Giveth community

Should we create a multisig to register on Nucleus?

  • Yes, letā€™s go for it!
  • No, letā€™s keep the way we pay for subscriptions
  • I know a better option and Iā€™ll comment below

0 voters

If the community decides to pursue the registration on Nucleus we can keep the conversation about the following actions.

2 Likes
24

coming back around on this from the gov call last monday

@franco and @geleeroyale will work on getting this setup - weā€™ll come back for an update this following monday.

1 Like
25

Iā€™ve tried registering the DAO to move forward but it wasnā€™t working. I contacted Nucleus and they are not operational anymore so we are going to try and find a different route with @geleeroyale .

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1 Like
26

I emailed crypto.com to see if they have anything for us.

Iā€™ve had their card for a while now and it works great! Iā€™ll see what they say

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27

No such luck, they do not offer any services to businesses

28

Iā€™ve joined some waitlists for different products that adjust for DAOs needs but I canā€™t seem to find anything working properly for now.

29

I had a talk with Bernd from AVADO about this. He offered to take subscriptions on for us and bill us through his old shell company that accepts crypto payments for paying out fiat.

4 Likes
30

I setup an account on Privacy. com i just reimburse myself in crypto for the spend on there.

2 Likes
31

based on this, i could take on some payouts, just reimbursed via token etc. giv/usdc/dai/usdt/lusd/anything really.

32

Hey guys! Bringing this shiny new card!

Gnosis Pay

Looks like we can hook up a pre-paid visa debit card directly to an eth wallet - Maybe our multisig? The trick is we need an EU resident to do KYC and order the physical card - @geleeroyale @markop @santigs

Does anyone feel like exploring this? Should we use our main multisig or our swiss entity?

33

With the new law just passed in Spain, I would be responsible for all movements in the account so I prefer to stay away from it.

34

Santi has a good point on the legal responsibilities. Can we KYC the organisation somehow?

35

Iā€™d have to run this through my legal entity and pay taxes on all transfers, in and out. It would have a significant impact on my accountings and depending on the annual value some other laws and regulations would become applicable (read, higher taxes). Itā€™s accounting overhead for me, Iā€™d rather pass.

36

Iā€™ve already talked with Gnosis Pay. At the moment the card is not compatible with Safe multisigs and they are only accepting KYC from individuals not companies. Corporate cards are in the plan for the future but not yet :frowning: