Proposal “UPDATED-DASH-NETWORK-SMART-ATMS“ (Closed)Back

Title:Updated Dash Network Smart ATMs: DASH Branded, Ad Media and Minimal Transaction Fee - 4 Month Funding Plan
Owner:CassiKonopasek
Monthly amount: 182 DASH (32123 USD)
Completed payments: no payments occurred yet (4 month remaining)
Payment start/end: 2018-12-17 / 2019-04-15 (added on 2018-12-12)
Final voting deadline: in passed
Votes: 39 Yes / 53 No / 0 Abstain

Proposal description

This proposal serves to outline a Dash Network and Vault Logic partnership through the distribution of 3 DASH branded Vault Logic Smart ATMs. DASH will be maintained at a 1% or lower transaction fee and the ATMs will be wrapped in DASH branding.

The ATM digital advertising screen will have 25% DASH focused ads and the other ads can be businesses accepting DASH. All ATMs in the Vault Logic Network offer and advertise DASH, but the Dash network ATMs will highlight DASH specifically and be wrapped with DASH branding. 

The ATMs will be distributed at locations approved by the Dash Network. The lease on the ATMs is refundable, if DASH determines to discontinue the lease. 

This partnership will accomplish the aligned goals of making DASH accessible to everyone via the ATM in a fast and secure way, with an optimized user experience. 



Vault logic is first to market with an all-in-one kiosk containing a traditional ATM and multi cryptocurrency BTM, while also presenting Cash as a Service (CaaS) and soon a user incentivized cash balancing network via an app. 

Vault Logic ATMs are ideal for a variety of regular locations and businesses from restaurants and transportation hubs to Ma & Pa convenience stores.  With easy integration of third party cash apps and legacy ATM services, additional foot traffic will add to the bottom line of any location and lead to more awareness and use of digital assets. 

Like Dash, Vault Logic is bold and prepared for disruption, which makes our partnership ideal for cash heavy verticals like dispensaries. In fact, DASH is already listed on all Vault Logic ATMs, promoted on our ad and media screen space, and incorporated on our printed one pagers. We will also integrate InstantSend as part of the proposal.  

https://preview.ibb.co/fAfeSq/Allan-DASH3.jpg
Allan Demarest at CryptoSpace in San Pedro showing the Vault Logic ATM, which allows CryptoSpace visitors and attendees of DASH meetups to experience buying and selling DASH with cash.


 Partnership  

We propose the Dash Network partners with Vault Logic to distribute 3 Vault Logic ATMs via an all inclusive, 1 year lease, which includes Vault Logic providing installation, maintenance, software updates, liquidity and cash logistics. At the end of the year, the lease can either be refunded or the lease can be renewed for each subsequent lease term at no additional cost to the Dash Network.  

Vault Logic typically offers 67% of the transaction revenue from all revenue streams (crypto buy and sell, ATM transactions, ad space revenue, Cash as a Service, and other 3rd party apps like bill pay, gift cards, and mobile minutes) to the distributor or the host location, who is the signs the lease for the the ATM. The 33.3% is allocated to the operations of Vault Logic for the the servicing, maintenance, cash logistics, and additional business services. 

 In order to benefit the Dash Network with the 66.7% revenue from the ATMs leased by the network, we propose the 66.7% revenue will be applied towards maintaining a 1% DASH transaction fee on the ATMs leased by the Dash Network. Other cryptocurrencies on these ATMs will be set to a transaction fee of 8% or higher, which will also incentivize individuals to purchase DASH.  

Thus, if 66.7% of the transaction revenue from the fees of all transaction types listed above on a Dash Network leased ATM is $1200 per month, Vault Logic will allocate these funds towards subsidizing a 1% DASH transaction fee and additional DASH liquidity.  

If the amount revenue exceeds what is needed for subsidizing the low fees on DASH and DASH liquidity, we propose the revenue will be contributed toward DASH Boost Proposal.

For transparency, Vault Logic will provide a monthly update from the dashboard of the Dash Network leased ATMs for transparency on transaction metrics, allocation of the 66.7% revenue, and transaction fees for the services on each Dash Network ATM to evaluate the location and performance of the ATMs.  

The Dash Network ATMs will be wrapped in DASH branding and the add screen will include media and advertising for DASH, Dash sponsored initiatives, and businesses accepting DASH. The ATMs may be placed by Danny Sessoms at ideal locations approved by the Dash Network.  

When the opportunity presents itself in the future, Vault Logic seeks to be one of the first investment vehicles for Dash Ventures. The 67% transaction revenue shared with Dash Ventures can be distributed back to the Masternodes or reinvested to expand the number of ATMs in the Dash Network both domestically and globally to support other DASH sponsored initiatives.  

We held a DASH Meetup at World Crypto Con and we are planning a series of meetups both in Los Angeles and at additional conferences. We believe DASH offers an optimal payment solution and can drive adoption of cryptocurrency, which is key to the mission of Vault Logic. The underbanked specifically can be introduced to DASH through Vault Logic’s familiar smart-phone like user experience.  

The Vault Logic ATM lease offer is a low risk investment. The infrastructure is already created and the the lease is fully refundable at the end of the term. The lease is all inclusive, so Vault Logic manages the maintenance and cash logistics for the network of ATMs, while sharing the transaction revenue with distributors.   

The Problem  

A current challenge facing the market is providing a physical location for people to gain exposure to DASH with the capacity to not only buy, but also sell DASH instantly. Of the 3,938 crypto enabled ATMs in the market, only 647 (17.1%) offer DASH. Furthermore, only 38.4% of those ATMs are bidirectional, which positions the bi-directional Vault Logic ATMs to be top competitors in the marketplace.  

Most ATMs offer one stream of revenue and do not offer the capacity to integrate 3rd party apps and advertising. There is also a need for the infrastructure to manage the ATM network and liquidity.  

Typically, ATMs do not place priority for the tier of KYC and AML standards needed to be present in many market verticals or offer vaulting capacity. In order to accommodate international expansion, there is a need for more ATMs to have the capacity to accept multiple denominations.  

The Solution  

Vault Logic ATMs lower the barrier to entry to purchase DASH by providing a familiar, physical location because it is an ATM, that allows users to buy and sell DASH with cash directly and have a very fast transaction time. It is Vault Logic’s top priority to deliver a secure and seamless system, with an educational user experience still in mind.  

By offering a solution for the cash management problem ailing ATM networks with our user incentivized cash balancing, Vault Logic will soon have the capacity to incentivize users to come to the ATM to buy and sell DASH and educate them through the ad screen space about businesses accepting DASH. 

Vault Logic offers the capacity to change fees and provides the network the choice on what the fees should be based on the surrounding area. With the intent to drive adoption of DASH, the fee on DASH can be kept low.  

We will work with the distributor to make sure the ATMs are strategically placed and the Dash Network can also see the reports and metrics for the ATMs to evaluate the success of the location and determine if there is a better location to host the ATM. 

The capacity to offer vaulting and top tier KYC and AML allows Vault Logic to be placed in locations across many different market verticals. Vault Logic can service 285 denominations, with the capacity to increase this number, positioning Vault Logic ATMs to be an international solution for the underbanked populations.   

Integration 

 Vault Logic ATMs can be placed in retail, restaurants, dispensaries, crypto centric locations, and at events, just to name a few. All of these locations will benefit the Dash ecosystem and offer the locations the cash management services they are currently seeking.  

  1. Vault Logic can offer a cash management solution for cryptocurrency focused and cash heavy locations, such as dispensaries through cash as a service and user incentivized cash balancing.
  2. Vault Logic ATMs will be added to the coin radar map in order to put them on the map and promote the locations they are placed and Dash will be listed as a cryptocurrency offered at the ATM location.
  3. The Ads on the Vault Logic ATM advertising space containing DASH and business accepting DASH can be distributed throughout the ATM network ad and media screen space.
  4. Vault Logic offers transparency with reports regarding the metrics of the ATMs so that the percentages and fees can be adjusted or the location reassessed for a location with more foot traffic or better advertising.
  5. Vault Logic prioritizes user experience and offers a suite of services that is second to none, so ATM users have a one stop location for cash needs while having ease of access to DASH.
  6. Vault Logic will soon be able to offer POS (point-of-sales) solutions to provide ticketing and direct cash to DASH self checkout, which offers ease of integration into businesses and a solution for cash businesses.  
 Proposals  
The Dash Network partnership we are proposing is defined as follows, with future proposals intended for expanding the Dash Network ATMs, offering more advertising and liquidity once the performance and value proposition of the ATMs leased  have been verified by the Dash Network.   


First Proposal   


1) 1 Year, All-Inclusive Lease of 3 ATMs and Transaction Revenue Allocation 

 Dash Network ATM Lease​. This will be allocated into four payments.

# of ATMs - 3 

Lease*/ ATM - $15,000  

Total Cash Amount* - $45,000  

DASH - 676.90
Spot Price @ $66.48

*Lease is refundable at the end of the year lease term, if contract is not renewed.  Lease includes wrapping the ATMs with DASH branding and: 

  • Maintenance
  • Servicing
  • Liquidity and cash logistics
  • Software updates
66.7% of the transaction revenues from the list below will go toward maintaining a 1% DASH transaction fee for the ATMs leased by the Dash Network. 

  • Crypto buy and sell
  • ATM transactions
  • Ad and media space revenue
  • Cash as a Service
  • Other 3rd party apps like bill pay, gift cards, and mobile minutes
 If the Dash Network chooses, the transaction revenue can be applied toward expanding Dash Network's ATMs, providing and/or eventually Dash Ventures. The report submitted to the Dash Network each month will provide complete transparency for the amount and allocation of the transaction revenue, in addition to location performance metrics.  

The Dash Network partnership we are proposing is defined as follows, with future proposals intended for expanding the Dash Network ATMs, offering more advertising and liquidity once the performance and value proposition of the ATMs leased  have been verified by the Dash Network.   

2) Ad and Media Screen Featuring DASH in the Vault Logic ATM Network  

January 2019 - December 2019  

The purpose of the ad and media screen space is to show DASH media throughout the ATM network, as well as, promote Dash Network funded businesses and initiatives to draw people to the ATM locations.   

DASH Ad and Media Screen Promotion  

Q1 2019  

# of ATMs - 10  

Q1 $/ATM - $300  

$/Q1 - $3,000  

DASH - 45.13
Spot Price @ $66.48

The Dash Network partnership we are proposing is defined as follows, with future proposals intended for expanding the Dash Network ATMs, offering more advertising and liquidity once the performance and value proposition of the ATMs leased  have been verified by the Dash Network.   

3) Proposal Fee 5 DASH  

Total Proposal = $ 48,000 + 5 DASH  
Total DASH = 722.02 DASH + 5 DASH

Subsequent proposals 

Will include an outline for adding more ATMs to the network, with a proposed discount on the lease, DASH liquidity, and advertising for the remaining quarters in 2019, as well as a plan for expanding the network.  

Timeline
 

Vault Logic is adding 70 more ATMs to the network next month. The first proposal for the Dash Network and Vault Logic partnership focuses on the value of the suggested all inclusive, 1 year lease of 3 DASH branded ATMs to the Dash Network.

 Following the delivery and placement of these 3 ATMs, Vault Logic will provide monthly reports to substantiate the performance of the network and the locations chosen. We are also asking for advertising and liquidity funds, which we will distribute in the ATM network.   

Vault Logic will cover the cash logistics, maintenance, installation and servicing of the Dash Network ATMs.  Vault Logic has the capacity to integrate InstantSend, Rewards.com and additional platforms to make DASH available for retail and dispensary locations, which will assist with the market adoption of DASH and the cash solutions needed by dispensaries.

These ATMs may be distributed by Danny Sessoms at locations strategic for the Dash Network, such as dispensaries and other Dash Network supported businesses.

Team

Doug Scribner, Founder and CEO
- Bitcoin Evangelist & entrepreneur since 2011, lead financier
Jon Owens, Founder and CSO - Designed and built first ever BTM with Eric Lombrozo, August 2011
Mark Hilgenberg, Founder and VP of Customer Relations - 25 years financial planning, blockchain educator since 2013
Oliver Goretzki, Founder and CTO - 15 years software dev. CTO first Bitcoin video streaming platform 
Weldon Stanford, Founder and CMO - 15+ years of experience marketing some of the largest luxury travel brands
Michael Harmon, CFO - CPA, 25 years financial and accounting, CFO Zealot Networks
Danny Zappin, Chief Revenue Officer - Founder/Former CEO Maker Studios, Sold company to Disney for $950million
Dino Palmiotto, Director of Operations - 20 year ATM ISO owner San Diego, CO
Andy Faberlle – Head of Sales
Lin Fisher - Head of Marketing
Cassi Konopasek – Business Development
Gregory Jacobson – Board Member 
Jesse Berger – Board Member
Josh Berger – Board Member
Michael Terpin - Adviso
r

Links
Proposal
Pre Proposal


  


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Discussion: Should we fund this proposal?

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0 points,2 years ago
ATMs keep me fed, voting YES x13!
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0 points,2 years ago
Thank you!
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0 points,2 years ago
voting YES. Low fees is important. Although, keeping these machines going requires maintenance. I hope you can provide good maintenance.
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0 points,2 years ago
Yes we will. Maintenance and coin and cash logistics.
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0 points,2 years ago
First off You seem like a capably slick bussineman/salesman, I don't trust or like you one bit, but that also why I think this a good (long) investment for Dash.
Question 1) Dash price is increase what will be done with the extra funds ? Just to be very clear I know you are treating us like a customers, so given that normal clients have a precise ATM price, we should be no different, anything we pay extra needs to go back to Dash, or provide additional ATM's

Question 2) How will do the maintenance and distribution of these machines ?

At anyrate these device are pretty damm expensive, I think for a pilot price this is okay, but if this works out we need some though negotiations to take place.
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2 points,2 years ago
Good questions and thank you for your support. Just know we are a team of long term crypto enthusiasts, our first two founders Doug and Jon have been in involved since 2011. We just understand that Crypto needs to use the current system to beat the current system and that takes business and sales unfortunately.

Q1: The price of Dash should make no difference, our liquidity provider handles coin logistics, and they are not taking long term positions in the funds they sell. The fee above spot is where Dash will make their return. The goal is to generate revenue which can be used by deploy more ATMs.

Q2: Vault Logic is responsible for deployment and maintenance but we will seek suggestions for high quality locations.

Yes, the first batch of machines are built from scratch, they are costly, just the recyclers and dispensers are very expensive. We are working to bring the costs down for future ATMs.

Look for us at a conference, I bet you would like us. :-)
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0 points,2 years ago
Thank you good answers :), you have my votes
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1 point,2 years ago
Thank you! Happy New Year!
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0 points,2 years ago
I do not think that a physical ATM is the future for the change to fiduciary currency.
Thanks for the proposal. I'm sorry but I will not support it.
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0 points,2 years ago
Thanks for your reply>

Change happens by taking the familiar and transitioning to the new. In order to onboard people to new systems we need to provide them with a familiar interface, our kiosks are easy to use, they have smartphone like apps and have traditional services such as ATM bank withdrawals. We are providing the millions of unbanked (billions internationally) an easy onboarding experience to the digital economy.

One of our partners have been very successful in bringing the under banked to the kiosks for bill pay and other financial services. We will be using these apps along with the ability for the un and
underbanked to vault cash in our kiosks and redeem it at any of our kiosks using a pegged stable coin. They will also have the ability to quickly onboard to all sorts of cryptocurrencies, Dash being the focus of these three ATMs.

I am happy to provide more support of how the Vault Logic ATM will support the network and bring adoption to DASH.
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-1 point,2 years ago
I ran some assumptions in order to give you guys an idea about the potential revenue you could see from the Dash branded ATMs.

Considering you would receive 67% of all the revenue from the all services, even with modest assumptions it would be very beneficial for Dash. At this rate it would take 7 months to fully recoup the cost.

Please see the image. https://imgur.com/a/crO01fY
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7 points,2 years ago
I don't think the potential of this proposal has been adequately stated. Uphold charges 1.25% and $3 to move crypto off the platform, and requires ID, bank transfer, and waiting. 1% for cash, instant delivery? That's a dream, especially when you put one of these in an area with a large Venezuelan diaspora like Houston (and AFAIK this is being planned) where migrant workers can buy Dash and send it home to their families for 1% with no bank account. The missing link to mass adoption in Latin America is liquidity, and getting easy cheap Dash remittances for cash is a must.

Also, as someone who's unbanked myself, I see the huge potential in being able to actually pay bills like electricity/phone with Dash, as these machines allow. It's a tight budget as always and we're all suffering, but I hope there's room for this.
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2 points,2 years ago
Katy Texas is the largest Venezuelan community in the US which is right outside of Houston. I think one of these would go over very well there. Soon as I have a chance to get down there I'll try to lay some groundwork very likely with the help of Dash Venezuela in so far as technical support and literature. I'll leave it at that for now.
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0 points,2 years ago
Thanks, Danny_Somethin. We are looking forward to supporting you with our relationships and setting up the infrastructure for the ATMs in Katy too.
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5 points,2 years ago
Thank you, the_desert_lynx, Yes, we desire to provide the infrastructure for people in places like Houston and Latin America to have access to fast, secure DASH and cash transactions to provide a means for financial inclusion that is currently not available.

The Dash Network is the ideal partner, because we share common goals and the community has many initiatives we wish to support .

Vault Logic is designed to encourage innovation and community involvement to provide the services the market needs and a one stop location for the unbanked to engage the economy. We appreciate your support!
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4 points,2 years ago
I like it, hopefully there is enough room left in the budget to support it this cycle.
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5 points,2 years ago
Thank you for the comment, Mastermined! Yes, we are prepared to distribute the ATMs and build upon the proposed partnership.
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2 points,2 years ago
I dont see how this is any different than your previous proposal, save for the fact its substantially reduced to 3 atms for now.

I still have concerns how 3 atms would make any meaningful impact to the network

And coupled with the fact that your also seeking liquidity which the network should never be funding.

Voting NO

Thank you.
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6 points,2 years ago
Hello Realmrhack,

Thank you for your questions.

I removed liquidity from the proposal. I also updated the proposal so that there are four payments. DASH will be maintained at 1% transaction fee, and we are also suggesting that some of the transaction fees will go towards Dash Boost.

I appreciate your consideration and thoughts of the proposal. I am happy to provide more support of how the Vault Logic ATM will support the network and bring adoption to DASH.

Best regards,
Cassi Konopasek
Reply
-1 point,2 years ago
How is it removed when your proposal still seeks, 45k usd?

Is it like your previous proposal where you where under the impression you can change the proposal at whim?

I would urge you to educate yourself on how the dao works and functions.

Otherwise your just another business person trying to make a quick profot not really helping dash adoption
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5 points,2 years ago
I appreciate your consideration and additional questions regarding the proposal and our partnership intent.

Response Sentence 1:

The $45,000 is for the leasing of the three ATMs and two thirds of the revenue from said machines will be applied towards maintaining DASH at 1% or lower fee. We will not be seeking below market Dash coins per this proposal nor are we asking for liquidity. Plus, the $45K for the ATM is refundable if DASH would not want to keep the ATMs.

Response Sentence 2:

I did not intend to change the proposal at whim, rather I submitted it to gather quality information about the Dash Network's needs and to determine how to design the most ideal partnership.

Response Sentence 3:

Yes, I have sought full education support for key individuals in the space, who are dedicated to the DASH community. I am educating myself daily. Any links you would like me to review, I will do so.

Response Sentence 4:

By keeping DASH at 1% and offering ways to return 67% of all the transaction fees from not only crypto but all services on the ATM through DASH boost and minimal fees on DASH, we are demonstrating our desire to be fully transparent with the funds we receive. My intent is to provide a means for adoption through secure, fast, and accessible DASH, which is a foundational purpose of the Dash Network.
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-1 point,2 years ago
Hi,

I apologise about the mistake you are right there is no request for liquidity
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4 points,2 years ago
Hi Realmrhack,

No worries. I appreciate you sharing your opinion and that my proposal change meets your request.
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