Proposal “Dash-Rewards-Retail-Solution“ (Closed)Back

Title:Dash & Rewards.com Retail Payment/Loyalty Solution
Owner:lindarewards
Monthly amount: 250 DASH (39653 USD)
Completed payments: no payments occurred yet (3 month remaining)
Payment start/end: 2018-08-17 / 2018-11-15 (added on 2018-08-07)
Final voting deadline: in passed
Votes: 362 Yes / 231 No / 108 Abstain

Proposal description

Proposal
This proposal outlines the development and marketing path of our Dash payment and Rewards loyalty retail solution. This is an exclusive development and marketing initiative with Dash.

Our solution allows consumers (on a global scale) to make retail purchases with Dash while simultaneously earning RWRD tokens as an additional incentive. With our supporting mobile application, customers will be able to pay with Dash at the point of sale online or in-stores. This solution could take Dash closer to mainstream use.

For 15 years the Rewards Team has successfully managed complex loyalty programs for major corporations: Bank of America, Amex, American Airlines, IHG, Marriott, Caesars, Sony, and more. Alongside a wealth of experience, Rewards also brings carefully developed relationships with most of the major merchants in every market. Merchants like Walmart, HomeDepot, Kohl’s, Macy’s, Staples, and thousands of others . All of which can be leveraged to further the widespread utilization of our Dash/Rewards solution.

The Retail Application Video


Here our CEO Todd Rowan answers questions for our most recent AMA.
Feel free to E-mail new questions to: questions@rewards.com


Why should the Dash Network approve out proposal?
Rewards.com is helping to give Dash a real world use case for its digital currency. As an accepted form of payment Dash transaction volume could explode.

Rewards is serious about its partnership with Dash.
1. Rewards.com is funding the marketing and promotion of Dash to the Rewards community which is 250K strong.
2. Rewards.com is currently funding the offer of $10 in Dash for anyone making a purchase on Rewards.com
3. Rewards.com is funding the marketing of Dash at Nascar.
4. Rewards.com will be targeting customers through email.
https://jira.rewards.com/secure/attachment/13543/13543_Rewards.DashNascar.png

Our Partnership and Vision with Co-founder & CMO, Linda Butcher


Proposed Funding Request
250 Dash to be paid out each month for 3 months. (750 Total)

Our documented volume  - Transnational  volume is an estimate. 
https://jira.rewards.com/secure/attachment/13542/13542_image-2018-08-03-09-47-30-052.png

Development Outline 
We want to create a seamless experience for the customer and remove the preconceived notions about crypto being complicated to use. We are building an eco-system to empower our merchants to accept DASH as a payment across all platforms as a self-contained, embeddable widget. We are also creating a corresponding mobile wallet in our eco-system to allow consumers to pay with DASH and earn RWRD tokens as an incentive.

On a very fundamental level, a customer can make transactions, buy more DASH, or redeem RWRD tokens with any registered merchant.
When the balance is totaled, our API is called and specific transaction data is stored to the DB. If it passes the check, the request returns back a key to generate a transaction QR.
The user is able to scan the QR using their Mobile App, allowing them to synchronize, validate, and approve the transaction.
A confirmation variable is passed to the page giving the user visual confirmation of the completion of their transaction.

Technical Overview:
The breakdown of each of these elements is listed below:
  1)   Mobile App (Client Side)
     a.   User Registration
     b.   Buy DASH / Receive DASH, Earn RWRD
     c.   View Account Balances
     d.   End to End (E2E) Encryption (Scan with device to Sign In anywhere)
     e.   Transaction Scanner
  2)   API (Processing API)
     a.   Block Explorer
     b.   Sends Transaction data to DB and returns a unique key to validate
     c.   Restful calls to read data from DB
     d.   Verifies funds transferred for transaction
  3)   Merchant API (Server Side)
     a.   Self-contained embeddable script to embed portal on web page
     b.   QR generator
     c.   Encapsulates transaction data and makes RESTful calls to API
     d.   Easy to integrate into a web page with minimal setup
  4)   Back End Management:
     a.   Database: Stores transactional data and user data
     b.   Private keys are managed 
     c.   TLS (Transport Layer Security) 
     d.   Buffer Settlement Wallet

Operational Flow:
  1)   Transaction Request: Customer Requests transaction from Merchant
           Merchant totals items, and registers a transaction to database
           API is called containing value of transaction and transaction hash
           API returns data and QR code is generated containing the transaction information containing price, merchant, and reference pointers to transaction hash
           RWRD earning potential calculated and displayed
  2)   Synchronization: Customer syncs to merchant Transaction
           Customer Scans QR from their mobile device using the Mobile app
           The following Wallet Data gets synchronized to the transaction:
           -   Merchant ID, Customer ID
           -   Merchant Settlement Wallet Address 
           -   Transaction Value + RWRD earnings
           -   Mnemonic matching pair
        •   Customer views transaction on mobile device with details
  3)   Confirmation: Transaction is stored, validated, and approved
           User Decision: Customer makes final decision
           -   User views transaction details and approves/ rejects request for funds
           -   User double checks the mnemonic keyword displayed at the POS/ Website portal
           -   Approve/Reject:
              1.   Approved: Funds are transferred from user wallet and into a settlement wallet acting as a buffer for the transaction
              2.   Rejected: No further action is taken, no gas fees
           Transfer funds in DASH from user wallet to settlement wallet
           POST Transaction hash & Block Number to database
           Settlement wallet gets checked for matching DASH value
           Transaction confirmation is provided to the merchant
  4)   Consolidation:
           Settlement:
           -   Rewards settles with merchant in Fiat currency through existing processes nightly
           -   Rewards tokens are held for the consolidation period to allow for any returns that may be made. 
           Refund Cycle:
           -   Merchant will refund the fiat value, that will be converted back to DASH based on the DASH value at the time of transaction.
           -   Flow:
              1.   Pays with Dash
                 a.   Rewards settles with merchant at the current rate of DASH to fiat
                 b.   All purchases and returns are represented in fiat, and is converted into or out of DASH at the time of transaction
              2.   User returns product
                 a.   Merchant accesses transaction data 
                 b.   Merchant submits transaction to Rewards
                 c.   Rewards converts refund amount to DASH based on current price
                 d.   Calculated DASH amount is refunded to the user


https://jira.rewards.com/secure/attachment/13609/photo5141348326493497323.jpg

Who is Rewards.com
Rewards.com is introducing a global marketplace that brings together over 100,000,000 products and 7,000 merchants, including restaurants, travel, entertainment and retail. This marketplace will allow customers to earn and redeem, what we call RWRD tokens, at any participating merchant or be traded on the exchanges. We believe this solution will transform loyalty by taking cryptocurrency mainstream, building a healthy and strong token economy and restoring true value to the consumer reward. We are an established leader in consumer loyalty and rewards marketing. Our team has 15 years’ experience running shopping programs for Amex, Bank of America, Sony, TD, Marriott, American Airlines and more.

Show full description ...

Discussion: Should we fund this proposal?

Submit comment
 
1 point,1 month ago
It is a challenge being decentralized, but also having a core team marketing the network. As I said Rewards interest in Dash remains very high and we may be able to come up with a solution.

However there are some conflicting strategies. For instance Dash Core would like an agreement which is non exclusive and short term. I can't speak for the Dash Core team, but I would assume the reason being is that they might want to form a similar relationship with other companies besides Rewards. More transaction volume is good for both companies. The decentralized nature of what we do benefits from more relationships and more transactions.

The short term agreement from Dash Core, is not inline with what the Master Node community wants. They have asked for a long term exclusive arrangement. There would seem to be a difference in opinion of what is best for Dash.

Rewards is also a decentralized organization which has a core team that is responsible for marketing and forming the right partnerships. The two core teams can certainly execute an agreement which we are doing, but in the current process there is no way for the Mater Nodes to vote. In a sense the Master Node community is asking Dash Core to be the centralized management team. It put fiduciary duty on the core team.

I cannot speak for Ryan or the Dash core team, but Rewards would be willing to post an executed agreement with the proposed funding for the Dash Master Nodes to vote on.
Reply
2 points,1 month ago
"I don't think the Dash Master Node community is mature enough in its process at this point to truly execute business agreements." - We are decentralised across the globe. Decentralisation is it's own beast. As an MNO making this comment from Indonesia (although based in Australia), how would you propose MNOs execute business agreements?

The budget is tight this month. It is what it is. You get my YES vote from Yogyakarta.
Reply
-2 points,1 month ago
I don't think the Dash Master Node community is mature enough in its process at this point to truly execute business agreements. The sole purpose of or proposal and partnership is to increase transaction volume. I hope you are able to get to the point where core and master nodes work together better. Right now the only two things which gets added to the block is the proposal's approved $amount and the terms for paying it. Rewards certainly likes the payment processing part of Dash and remains interested.

Rewards invested more than $100K in Dash and is continuing to market with Dash; however it is not a partnership if only one side is carrying the load.
Reply
1 point,1 month ago
First off, insulting us, no matter how true, isn't helping. I think I speak for most masternodes when I say that we want to expand our relationship with Rewards.com but we just don't have the funding right now to be taking on new projects. We are barely keeping our current projects afloat.

I'd advise you to come back during a less competitive month.
Reply
1 point,1 month ago
I don't think it's an insult, it's a statement of fact (see above). There are some communication problems that we'll need to address moving forward as more conventional businesses seek us out for partnerships and integrations. Core and the MNOs need to be on the same page when it comes to the projects they funnel to the Treasury. It seems that currently we are not.

What you say is definitely true about the budget, however. Hopefully this recent spike is the portent of a continued upswing.
Reply
5 points,2 months ago
I think any proposal that Core puts forward should be accompanied by a professional evaluation report, which is not necessarily an endorsement. If Core have in fact done their due diligence, which may have even been a concentrated effort over a number of months, we should be able to know how exactly they have concluded that the partner offers a value proposition to the network.
Reply
2 points,1 month ago
I agree 100%.

Walter
Reply
4 points,2 months ago
The proposal outlines the proposed solution.
I am not sure if it is intentional or if there is just genuine confusion, but I will try to outline the intended relationship. The community seems to not want to look at the proposal, but the comments. This makes it a challenge since some of the comments are incorrect.
The intent of the proposal and relationship between Dash and Rewards is for it to be long term.

After almost a year of evaluating potential partners. Rewards selected Dash to be their exclusive partner for payment processing. This is an exclusive relationship.
We are not requesting funding to help support Rewards development or marketing. We are requesting funding to pay for our joint development.

The proposed funding is to further develop a payment and loyalty rewards solution for retailers. The funding will be used to cover Dash's half of the required development. It will include a mobile component and POS solution for retailers. This is clearly outlined in the proposal. We expect that the solution will have a significant impact to transaction volumes.

* Retailers will use the solution because it will easily allow them to accept Dash as a form of payment. As an incentive for a purchase the customer will earn Rewards tokens.

* Retailers want access to the customer base that Rewards has and that Rewards and Dash will continue to build together.

The proposed solution is a high level solution. As we move forward with the development and work closer with Dash development team there may be additional discoveries like the use of Dash core wallet integrations and management.

As for our long term relationship. Rewards was committed to Dash and had already started promoting the relationship. We have been working with the Dash core team to develop a plan to market and promote our relationship.

So for those of you who have missed why this is a great partnership.
Transaction volumes help both companies with fees and increased liquidity. Dash receives more transaction volume because people are actually using it to pay for products. Rewards tokens are distributed as an incentive. This creates a loop of paying and earning which should increase transaction volumes which is what we all want.

There has been a lot of interest in Rewards core business, so I would like to outline and explain the connection points for Dash in each of our development phases.

Rewards.com is an ERC20 token. Rewards.com- the global marketplace is our genesis program and first customer for our own blockchain. In our phase 2 we are developing our own blockchain. Imagine Rewards Blockchain as the building block for unlimited marketplaces. It is the first but certainly not the last. If you have researched the size of Rewards.com you understand the significance of volume and transaction. This is one program on our blockchain, our protocols will be open source so they can be extended to any company wishing to have a loyalty program.

The term,"Rewards" and "Reward" get used a lot. When you hear us clarifying it is because we are clarifying our Rewards development phases as the business and the use of Rewards as an incentive.

Now you are looking at the something much larger. Your community leaders have instructed to me to write my answers in speculative terms; however I am being questioned about our level of commitment. There is no answer I can give that will satisfy both sides. Our intentions in phase 2 is to keep Dash as a payment source and to allow people to exchange other currencies for Dash just like they can on any exchange.

Making cryptocurrency easy to use will benefit both companies as well.
On Rewards.com today.
• Today people can Pay only with a Credit card or debit card. They can earn Fiat or Dash.

When Rewards launches its token people will earn Rewards tokens on Rewards, but will be able to exchange for Dash.

Belief 2:

• If the proposal passes – A solution for retailers will be developed to allow people to pay with Dash. This does not exclude people paying with cash or credit.
The proposed solution includes a mobile payment app and a POS solution for the merchants.

Belief 3:
In Rewards phase 2 blockchain the protocols extended to companies wishing to create a loyalty program using cryptocurrency Dash will be the payment solution.

Rewards goal is to allow people to use Dash and Rewards interchangeably following the regulations needed to maintain compliance. Rewards is managing some of the risk in the volatility of the market on behalf of the retailers. In part the reason retailers are slow to accept cryptocurrency is because of the volatility. Rewards has to manage the retail relationship and reconciliation and the people's accounts.



Dash core team has agreed to execute a 36 month exclusive agreement; however our initial agreement is for 3 years and then will auto renew annually.

Dash and Rewards could decide to submit proposals in the future to support marketing efforts.
Dash will also need to submit proposals to Rewards for mutually funding going forward.
Reply
3 points,2 months ago
Dash core team has agreed to execute a 36 month exclusive agreement; however our initial agreement is for 3 years and then will auto renew annually.

This the no to yes vote changing element. Do I am not 100% sure it will pass this budget cycle do.

Please provide proof of the 36month exclusive agreement, Ryan Taylor replying here and confirmed it would be sufficient proof
Reply
2 points,2 months ago
Thank you for your clarification, much appreciated. With that clarification, I think this is a great idea that is mutually beneficial and I hope that we're able to come to terms if not this cycle then at some cycle in the future.
Reply
6 points,2 months ago
I've been watching this proposal closely and I've seen a fair bit of confusion on both sides, so I wanted to try and clarify this proposal to help both the proposal owner and the DAO itself.

- REWARDS.COM is not integrating DASH as a reward, token or point system of any kind.

- REWARDS.COM is not integrating DASH into their existing platform (well not yet, more info below).

- The RWRD token is not a cryptocurrency, it is a TOKEN given in return for making purchases. This TOKEN can probably be exchanged for goods / services (I request clarification below) but is NOT a direct competitor to DASH.

- REWARDS.COM is purely proposing the creation of a retail payment solution (Point of Sale and ecommerce widget).

- This retail payment system would be fiat and DASH (or RWRD if they have accumulated enough) and in return for using it, customers would receive RWRD tokens.

- The REWARDS.COM CEO has said the PROPOSAL is exclusive for DASH (i.e: They are only coming to Dash for funding).

- The REWARDS.COM CMO has said that DASH will be the exclusive payment partner (alongside fiat) but has not committed to a legally binding 36-month contract to this extent.

- As I mentioned before, this is NOT to be part of their existing platform, this is for a new retail solution. However, they will use their existing experience (and 7000 merchant contacts) to market it.

- The $10 DASH giveaway and the NASCAR sponsorship was a good-will gesture to show they are serious about DASH, it is not tied into this proposal.

- The proposal owner has a history developing enterprise software which is why they believe they are a great partner to develop this retail solution (along with their existing database being ideal customers).

- The proposal owner is seeking funds from DASH to build this, but they will also be sustained by the merchants paying for the POS and paying them for the points solution. Hence this will probably be a singular proposal and then self-sustaining, though I request clarification below.

- RWRD tokens may be redeemable for DASH / BTC / ETH (please see question below).

- REWARDS.COM has stated they have ties into the payment rails for STAPLES, LOWES, GAP and believe there is NO friction for the merchant to move / add this payment solution (as they are instantly paying the merchant in FIAT).

- Regarding that last point, they stated specifically: "We're handling all the exchange of crypto on our side", note 'CRYPTO' but this could mean RWRD and DASH (clarification requested)

- There is NO guarantee of how many merchants will sign up to this program, whilst they have 7000 merchants for the current REWARDS.COM platform, how many of those that will actually add this payment solution (ecommerce or instore) is unknown and depends on a lot of factors.

- The system operates through the REWARDS.COM mobile app:
On purchase, your DASH is instantly converted to FIAT and paid to the merchant
The MERCHANT has a system that can receive the FIAT payment from the REWARDS.com app
If you return the item you bought, you will receive the FIAT equivalent back (if you spent $100 in Dash, you would get $100 in Dash back at the new exchange rate)

- Now considering the above, here's a big one to finish:
This proposal does NOT allow DASH Core Wallet payments at major retails. The DASH payment can ONLY be done through the REWARDS.COM mobile app.

----

Now some bits I want clarification on from the proposal owner:

1) Will you commit to a legally binding 36-month exclusivity contract for this retail POS where FIAT, RWRD and DASH are the ONLY options. Your contract would be with DASH CORE GROUP INC as a nominated representative of the DAO.

2) To gauge how much value your 7000 merchant partners offer for the DAO, will you share your data with core or myself after an NDA has been signed? The same applies for the DASH giveaway, we'd like to see usage data.

3) How much data will your share with the DAO / DASH CORE GROUP INC in terms of usage rates and adoption, are you willing to commit to this as part of your contract?

4) What can you use the RWRD token for? I have read your whitepaper which says suggests it can be exchanged for BTC / other crypto and used to make purchases - what else is it for?

5) Regarding the above, would you consider offering say 2% more paid out in DASH for RWRD exchange. Seeing as Dash is potentially subsiding an ancillary part of your business it would make sense to enter into a mutually beneficial situation in other avenues too?

6) You mentioned you have ties into the payment rails for several major retailers, please clarify this. How easy will it be for you to add DASH payments via your app to staples retail / ecommerce systems for example?

7) Do you intend to post further proposals or is it your belief that this platform will be self-sustaining from revenue generated from your merchants / users?

----

Other bits:

- This mnemonic phrase thing is unnecessary

- DAO, don’t think too much on the $10 DASH or NASCAR sponsorship or even the current REWARDS.COM site or userbase. This project is distinct from those and should be judged on its own merits (bar the 7000 merchant contracts and the existing business serving as some qualification for them to do this)

- All your images are broken outside of your network, you can't share from a private Jira account - host them on imgur.com or something
Reply
2 points,2 months ago
Your clarifications track with what I've been able to glean, so over-all I view the project favorably. The one thing I was going to mention is that the mnemonic phrase thing is actually not a bad idea, because it--like the confirmation on hardware wallets like Trezor--would add an additional layer of security to help ensure that a transaction wasn't fraudulent or intercepted in some way. I believe that's its purpose.
Reply
4 points,2 months ago
Ah gotcha, looking at it more I can see the reasons and it's purely a visual check. This would protect against browser hijacking / XSS replacing the generated QR code.
Reply
3 points,2 months ago
Although it's worth noting that the check can be built into their system as they're both controller of the widget/PoS and the app. There's no reason you should be able to pay someone other than one of their merchants through their app.
Reply
6 points,2 months ago
I am disappointed in the yes voters, please engage with the no voters, no voters have the strongest arguments, yet their are currently more yes votes.
Reply
-9 points,2 months ago
You wasted the shit out of treasury funds the last year so now you have to continue giving projects more treasury funds.
I want to encourage all MNO's to log in every month to deny all these wasteful POS projects. I'd rather burn the treasury funds than continue to donate it to projects that spend it out on exchanges for all their expenses.
Tired of all the hype without any continued performance.
Is this just a bunch of whales giving Dash as welfare to their buddies?
Reply
-2 points,2 months ago
HI Community. We would like to see Dash and Rewards engage. We believe that the payment solution and loyalty solution is a really good fit for retail and increasing both of our transaction volumes. So consider one thing. Rewards is moving forward with our mission to take crypto mainstream and we are already working with the retailers. Do you want Dash to be left out of our movement? So I think you need to ask yourself is what happens if Dash isn't apart of this?
Reply
2 points,2 months ago
I want this partnership to happen but there have been several serious issues brought to my attention that need to be addressed. I will work on setting up a round table discussion with a few of the key players involved to get to the bottom of these questions and concerns.

I really want this to work as I think it will be great for Dash and rewards.com. Hopefully all questions can be answered and we can move forward with funding this cycle. However we may need to take an extra month to get everything worked out so everyone is comfortable with the deal.
Reply
-1 point,2 months ago
I really want to vote for this partnership, though my worry is that the Treasury will not have enough funds this month without jeopardizing existing commitments. Please keep the dialogue and you have my support next month.
Reply
1 point,2 months ago
We have still had some questions about what Rewards and Dash are currently doing and the proposal.

Dash MNO and community asked if Rewards is currently promoting Dash now. Yes, Rewards is funding a current promotion on Rewards.com where people can shop and earn Dash. (this is not part of the proposal. ) Rewards is funding this promotion. Ryan spoke of this partnership in his Nasdaq interview.

Currently our platform cannot allow Dash to be used as a payment option. Merchants are not able to accept Dash as a payment option. Our proposed solution will allow retailers to accept Dash as a payment.

The community asked for a partner who is already supporting Dash.
Who is already funding projects to promote the partnership.
Who will promote Dash as the exclusive payment partner.

Rewards is doing all of the things the community asked for.
If you have additional question don't hesitate to ask
Reply
1 point,2 months ago
I believe this is a project that can increase your transaction volumes. It also helps Rewards with transaction volumes that is why it is a good partnership. Vote Yes.

I would hope that the community would consider all business proposals which have a direct impact on transaction volumes and understand that other proposals have competing budgets for marketing newsletters, blog sites, and other promotions. Those may have been good for developing the Dash community, but does little for driving transnational volume.
Reply
6 points,2 months ago
MNO: i would like to point out that there is a rewards ICO/token. As far as i can tell Dash is a placeholder until the ICO happens. The current dash back will likely be replaced by the rewards token.

Once the App development is done (which we would be paying for) there will be the option to pay with BOTH rewards/dash. They will obviously try and push the rewards (their own) token. We will be expected to pay for development and get nothing in return aside from a dash logo/accepted sign on rewards and then a couple months later they will add a bunch of other tokens (unless its in writing no reason to assume otherwise).

I have been told that they will give people the option to purchase with Dash and use the rewards token for cash back. This is an extremely bad deal for Dash, bc most of the volume is in paying by CC/fiat and handing out Dash to new users. If Dash is used for rewards like it is. If dash is just a means of purchasing NO ONE will go out of their way to buy dash to pay for things through rewards.com.

I need an exact and detailed explanation of what exactly the role of each token would be and i would need it in writing.

I have yet to articulate what the value add this proposal gets Dash aside from the marketing campaign. For almost 120-180kUSD we arent getting much. That amount of money is almost seed funding for a startup.

UNLESS REWARDS.com CAN ARTICULATE HOW THIS HELPS DASH/HOW THE PAYMENT/DISTRIBUTION POSITIONING OF DASH WITHIN THE CHECKOUT PAGE /REWARD ECOSYSTEM; OTHER THAN AN EXPENSIVE MARKETING CAMPAIGN, IM VOTING NOOOO.
Reply
0 points,2 months ago
Please read the proposal. The information on Rewards token site if about Rewards and is our own business plan. This does not have anything to do with the proposed joint solution. We are not putting Dash on our check out page. The proposed solution is for merchants. Rewards is finished with fund raising. As we launch Rewards in each new country we will have a short token sale to stimulate interest in Rewards.com. Also good for Dash because it will increase your transaction volume. The solution is an app and a solution for merchants to add to POS.
Reply
0 points,2 months ago
I'd like to address competition complaint from objective MNO perspective - I'm unaffiliated with the project. I do like the fact that this question is brought up, but I believe that in this case we are not dealing with any sort of competition as it would make no sense for rewards token to be a competition to dash.

All rewards programs basically must create their own tokens, and then convert them to rewards. They HAVE to do that; if they simply paid portion of price back in money/crypto whenever somebody purchases something with one of their partners, it would be just a discount and it wouldn't bring customers back. In my view rewards token and dash serve different purposes, and cutting dash out after the integration is done is not aligned with Rewards.com incentives and makes no sense once the integration is done.

Also, I want to address the view that Dash competes with other cryptocurrencies and that we should strive for monopoly. We can all see that crypto is expanding and literally pouring into all parts of the financial world. This is not entrenched market where you fight for the piece of the same pie. Increase in adoption of any crypto multiplies the network effect and eases the adoption of any other crpto. Everybody who bought bitcoin is also looking into altcoins; the hard part is bridging the gap from fiat to crypto.

So I think that we should look at other (legitimate and non-scammy) cryptocurrencies as partners instead of as competitors. We all have the same goal, increased adoption of crypto in the world. If Rewards.com implements other cryptocurrencies into their system after dash, I see no problem with that, as I want those customers who hold bitcoin or ethereum to have 7000 more places where they can exchange their bitcoin or ethereum to dash and vice versa.
Reply
1 point,2 months ago
It would not just be a discount. It would be exchanging an asset with narrow use for a cryptocurrency with wider use.
Reply
1 point,2 months ago
The business model is this: Vendors give rewards.com a kickback if customers go through the site, and rewards.com gives the customers a piece of the action. Dash is great for micropayments. They don't need their own token to keep people coming back. They can come back for more Dash. Giving customers a token that can only be spent on site is LESS of a draw, not more.
Reply
2 points,2 months ago
Voting no due to high cost, the fact I hate rewards marketing as a customer and I don't want to pay people to use Dash.
Reply
2 points,2 months ago
"I don't want people to pay using Dash" at 7000 merchants. Why?
Reply
3 points,2 months ago
Sorry, that was a misread on my behalf... you said "I don't want to pay people to use Dash".
Reply
1 point,2 months ago
How many times are we going to fall for this? There is nothing to stop them from just abandoning Dash a few months after getting the funding. This has happened so many times before. These funds are vitally needed for building the community and supporting the community. If you are looking for a reason why Dash isn't more well-respected, look at all the propals we have funded similar to this one.
Reply
1 point,2 months ago
I personally think Dash is well respected. I have been doing due diligence looking for a payment solution partner for awhile. I think this gives both of our companies an excellent use case and ability to increase transaction volumes. I understand budget is tight. With the market down we are all feeling it. However, that is part of the reason Rewards is funding all of the marketing promotions around supporting Dash right now. We also funding 1/2 the development of the proposed project.
Reply
3 points,2 months ago
How do we not know you are funding the development of your own competing token? If you are so committed to Dash, why do you even Have your own token? What's wrong with ours?
Reply
1 point,2 months ago
The links to the image in the proposal text, including the one with the documented volume appear to be broken. Could you fix that please?
Reply
0 points,2 months ago
That is just an image.
There are 3 videos and they are all working.
Reply
2 points,2 months ago
Read the first line of the proposal, "This is an exclusive development and marketing initiative with Dash."
If you want it to say 36 months, sure well say 36 months. The intention is not for a fixed period of time, but for a long term relationship.
Reply
4 points,2 months ago
I don't think the worry of our community has been clearly verbalized yet, so let me attempt to clarify:

What is preventing Rewards.com from taking 250 Dash from us and then not only implement Dash but an arbitrary number of other cryptocurrencies on the platform while Dash has to "pay for admission" whereas others get in "for free"?

The sentence "This is an exclusive development and marketing initiative with Dash" only means that you will use the funding of this proposal to develop and market Dash, not a commitment of offering it as an exclusive cryptocurrency on your platform.

In another comment you said "There are no plans for other payment options beyond Rewards and Dash" but we all know that "plans" can change and DO change as we have seen with many other proposal owners, who did exactly what I've described above (integrating other cryptos for free after Dash paid for its own).

Curiously they always happened to change their plans right after the payout from our Treasury.

Hence the question: Will your CEO sign a legally binding exclusivity contract for Dash and Dash alone as the cryptocurrency of choice on Rewards.com?

Because if we can be assured that Rewards is really committed to Dash as a payments system and not run off to our competitors the second we foot the bill then you can count on solid and reliable support from this community.
Reply
5 points,2 months ago
Yes we would be willing to execute an agreement; however in a decentralized autonomous organization I not sure who would actually execute that agreement. As Todd Rowan, CEO mentioned on the AMA Rewards is funding more than the proposed Dash contribution. My job at Rewards is to evaluate partners and technologies. In 8 months I have evaluated hundreds of companies and have only slected two. Dash being one. Dash is continuing to evolve and create solutions in payments. After looking under the hood of many companies we selected Dash as our payments partner. The other is a security solution.
Reply
2 points,2 months ago
Correction: I just realized this is a 3 month proposal.
It's 750 Dash in total, not 250.

MNOs take note
Reply
4 points,2 months ago
Dash escrow will be utilized
Reply
1 point,2 months ago
Which escrow service? There are at least 3 escrow service providers in the Dash market.
Reply
1 point,2 months ago
Sounds like "Dash escrow" means DCG?
Reply
1 point,2 months ago
Thanks for your proposal submission. Could you please detail your escrow plans to ensure payment is only made once milestones are reached? Also, what is the mechanism for buying Dash in the app? Previous proposals have discovered during implementation that a MTL may be required to buy and sell Dash OTC, do you have this license already?
Reply
2 points,2 months ago
We are not trading Dash. We buy Dash to give away as an incentive which is the same as our points and cash back programs. We are developing several relationships, including Uphold, Kraken and others to buy Dash for reward fulfillment. As you know Dash has an escrow service.
Reply
2 points,2 months ago
Crosspost from Discord...

"Dash-AI Today at 4:42 PM
@Mastermined @macrochip I would also like some insight into site statistics (visitors per day, transactions per day, transactions in Dash/day now, click through rate on their dash promotions)"
Reply
2 points,2 months ago
The promotion just launched and are just getting started. We normally see $2.5 m in liquidity for every 50 K people who make a purchase that breaks down to 225K transactions. The first Dash/Rewards Nascar is this weekend, Ryan just did a promo on Nasdaq, so there are more promotions coming out. The more relevant question is how many Dash wallets have been set up in Rewards. 1400 new Dash wallets in a few weeks. 220 Rewards members added wallets once the announcement was made.
Reply
4 points,2 months ago
I like it but it needs a exclusivity agreement, preferably 36 months.
I would also like to see a discount of some sort when using Dash, at least for a short time when it launches. Something like 10-15% off for using Dash.
Reply
2 points,2 months ago
The $10 back in Dash that Rewards is currently funding is higher than that. We will continue to run offers. Having done this for 15 years the % offers do not get as good of engagement as $ offers.
Reply
1 point,2 months ago
Yes it must be an exclusive deal, and 36 months is okay, but 36 months need to start at the launch of the app(so the development phase and pilot phase are not counted as exclusive phase).

Please not in the video how the CEO of rewards.com carefully uses the word and crypto-currency. I am saying their is ill intent, but a smart business man, will keep all his options open if he can.


*Right now I see 100 upvotes I am very disappoint, haven't you MNO learned yet that without exclusivity this SHOULD NOT pass. (The most recent one is Ben Swann. he is using equipment he bought with Dash funding to now work for Smartcash at 1/6 the cost we paid him).
Reply
1 point,2 months ago
posted on behalf of Todd Rowan CEO
Thank you for your comments. I am a solid supporter of Dash and a miner for over a year it is the only other currency other than bitcoin that I have set up miners for in my data center. The goal with Dash is to use it as a payment currency throughout the Rewards eco system. There is no other cryptocurrency in the market that can service this need. The goals of Rewards and Dash are in line with each other and this makes for a good long-term relationship where by each of us can bring unique things to the table that will benefit both.
Reply
2 points,2 months ago
Rewards is funding $10 in Dash additional bonus to the normal percentage of the purchased paid right now.
Reply
4 points,2 months ago
And your answer to an exclusivity agreement, preferably 36 months?
This proposal will probably not pass without that as we have been burned before.
Reply
1 point,2 months ago
We certainly don't want to burn one of our preferred partners. I think we need to look beyond just trading cryptocurrency to the real world use cases. This is what makes Dash and Rewards a really good fit. As two independent companies Dash has Instant-send and is working toward making crypto payments for retail easier with all the benefits of crypto and Rewards is both incentivizing people with crypto and providing a retail solution. There aren't a lot of other currencies which are focused on these types of utilities.

There are no plans for other payment options beyond Rewards and Dash.
Reply
0 points,2 months ago
That's the evading the question, we want an exclusive deal, of at least 36 months.
If things are as you state this should be addressable by this type exclusive contract.
Reply
1 point,2 months ago
You have my support, good luck.
Reply
0 points,2 months ago
Why ? You are very long time member of Dash. Have you not seen how proposals such as this have been abused again and again.
This needs to be an exclusive deal.
Reply
2 points,2 months ago
As I said in your Pre-Proposal, there's not likely room for your proposal in this month's budget, but I do hope that we're able to fund it in the coming months at the very least! Rewards.com is a great service that I've actually used and has the potential to fix what is often an unusable, gimmicky industry. It's a great use case for Dash.
Reply
2 points,2 months ago
There is over 5k Dash available right now. Not all proposals will get funded, I hope this one does!
Reply
2 points,2 months ago
5k Dash available ? you're saying that the 2/3 Dash Core Group is requesting is up for grabs as well ?!?
Reply
0 points,2 months ago
How can it pass ? their is no mention of anything related to an exclusive agreement, they will have to set up that deal very quickly if they want it to pass.
Reply
0 points,2 months ago
read the first line of the proposal, "It is an exclusive development and marketing initiative with Dash."
Reply
1 point,2 months ago
I like it! I have voted Yes. I just hope we have something left in the pot for you. If not, I hope you will resubmit next voting cycle.
Reply
1 point,2 months ago
Excellent use case for Dash. Good on ramp to buying and using Dash.

Easy Yes.
Reply