Welcome!

UPDATE:

Keep updated on our progress at our blog or on Twitter

Intro

To drive adoption of Dash one of the important pieces of infrastructure required is a high quality Dash exclusive payment gateway with instant fiat conversion. Bitpay and Coinbase have been instrumental in encouraging merchants to add Bitcoin as a payment option on their sites.

We are proposing to create a high quality Dash to fiat payment processor. The only currency we will accept is Dash.

A short presentation to complement the text below is available here. The DashTalk thread can be found here.

Demo

Visit our website at dartpayments.comwhere you can sign up to our mailing list or click through to our demo site.Dashstickers.xyz is an early working demo of our processing and conversion software. You can purchase two Dash vinyl stickers for only $2.

Be aware though this is early software and that you can get in touch with us at contact@dartpayments.com.

Amount requested vs. costs

We propose to request 400 DASH from in each of the next 3 budget cycles. This will provide us with capital to develop a beta version of our software for select merchants to implement on their sites. Costs are very much an open ended question, we'll build as much as we can with the funds received. We expect to contribute additional funds from our own pockets on top of the DASH we receive from the budget.

Note: Amount was chosen when there was still 455 Dash available in the next budget (currently 400 left).

Equity to Dash Foundation

As this is a for profit business we accept that we should give something back to the Dash community (in addition to building important infrastructure to drive mainstream Dash adoption) in return for funding. For every month of funding we receive we’ll be offering 5% of the business to the Dash foundation (total of 15% should we receive funding for all 3 months).

It has been suggested that we give the equity and associated (future) dividends straight back to the network. At this stage we see no technical or legal framework for doing so. We will encourage the Dash foundation to gift the equity to the network if it becomes technologically and legally feasible at some point in the future.

Pre-proposal consultation

Prior to submitting this proposal to the network we engaged in discussion on DahTalk.org with members of the community to help understand any concerns they have and potential ideas that could be incorporated into the proposal or product.

Dash business development head Daniel Diaz (DashTalk username ‘Minotaur’) commented:

“I think this is a good project, it is well aligned with our overall goals of facilitating access to the Dash economy and more importantly it would very quickly lead to Dart payments cold calling and selling merchants on accepting Dash. I think we should support initiatives like this that are directed at bringing new businesses into the Dash economy in a very direct way with the possibility of having short term results. This is outward facing and should result in growth, for the modest amount of 1200 DASH over 3 months, I think is something we should all support."

How the system works

After a merchant integrates Dart Payments into their site customers will see a "Pay with Dash" button in the checkout. When clicked information about the transaction is sent from the merchant to our database and a payment window/popup appears. Once we receive payment of the Dash to our wallet we send confirmation back to the merchant that it has been
paid.

On the back end we instantly convert the Dash into fiat currency (using BTC as an intermediary until there is a DASH to fiat exchange with enough volume). Daily deposits of fiat will be made to the merchant’s bank
account.

Revenue

We expect to charge a flat 1% fee to all merchants. We will likely offer the first $X of transactions fee free to encourage merchants to sign up. There is also the possibility of tweaking our conversion system to make gains on exchange rate movements.  

Who are we?

Long time cryptocurrency enthusiasts with a keen interest in Dash since early 2014. 

Henry McKay - Commerce student at Monash University in Melbourne Australia. Currently working in Christchurch, New Zealand over the summer. Finance lead for rLoop (SpaceX Hyperloop Pod Competition entrant).

Angus McKay - Recently Completed a diploma of web development. Currently working on various personal projects.

There’s not much available online about us, and we value our privacy (like many Dash users). A couple of trusted community members have verified that we are long time Dash users.