MoneySwitch Partnership & Seed Round

Introduction

MoneySwitch is a Liquidity-as-a-Service (LaaS) platform offering real-time liquidity to cross-border payment providers powering the global cross-border payment industry. Utilizing the power of DeFi, MoneySwitch enables access to liquidity unconstrained by different time zones, trading hours, holidays, weekends, and all “red” banking days. The liquidity can be used to meet immediate liquidity requirements of cross-border payment providers. For lenders, MoneySwitch opens new lending opportunities which thus far has exclusively been available to big banks and financial institutions. Lenders will be able to offer short-term loans which are safer, more efficient, and better suited to the needs of the cross-border payment industry.

MoneySwitch is backed by DeeMoney, Thailand’s largest non-bank cross-border payment provider, bringing with it an ecosystem of over 40 cross-border payment providers, covering over 100 cross-border payment corridors around the world. MoneySwitch has also looking to bring-onbaord several licensed cross-border payment providers to borrow on MoneySwitch, including Smartway Systems, Kapook EU, and Hanpass. The team behind MoneySwitch has extensive hands-on experience building solutions and tackling challenges within the cross-border payment industry.

Proposal

MoneySwitch invites FRAX to participate in the MoneySwitch seed round as a protocol DAO, alongside other key strategic partners including BitKub, DeeMoney, Decentralized, and others. Holding MST will extend protocol governing rights including platform revenue distribution and will align incentives between our communities. In addition, MoneySwitch will open a FRAX lending pool, allowing cross-border payment providers to borrow FRAX. Extending the utility and reach of FRAX and allowing FRAX holders to earn attractive yields by stacking FRAX. MoneySwitch will also create an MST / FRAX liquidity pair and allow liquidity providers to stake their LP tokens in the Credit Default Protection Pool to both secure lending on MoneySwitch and generate further opportunity for FRAX holders to earn attractive yields.

Investment Terms

  • $250,000 allocation for FRAX Protocol
  • $0.035/MST
  • $35M Fully Diluted Value
  • Investment paid for in AMO Profits
  • 1 year lock, then 2 year vest with quarterly release

More Info

  • Website: moneyswitch.io

  • Twitter: twitter.com/Moneyswitch_io

  • Discord: https://discord.gg/32E33mv8tC

  • Docs: docs.moneyswitch.io

Actions

For: Invest in MoneySwitch & attain the full $250k allocation

Against: Do nothing

25 Likes

This would be a unique way to have FRAX liquidity proliferate in the real-world (DeFi Mullet Thesis) and could be a model for similar organizations trying to do the same thing (liquidity pools for cross-border payments). I would support this proposal. I am wondering what everyone else thinks.

3 Likes

Hi all. We will be posting this to snapshot if there are no more further questions.

Thank you!

3 Likes

Even though I like the idea of increasing the use cases for Frax, I think all the provided information is pretty vague. All the social media of the project was pretty much launched last week, (Twitter, Medium, Discord), we have no information about the team, no public disclosure of other seed investors, no roadmap, no publicly expressed interest of entities to use the product. The tokenomics are skewed towards team and investor, that will receive almost 50%.
I’m sorry but unless we see some support from the official Frax team I think we do not know enough to invest.

1 Like

Hi Seba, Khibar here, one of the co-founder behind MoneySwitch, let my try to address some of your concerns;

  • You are absolutly right, we are at seed stage, so everything on the social media front etc is pretty new, we are just getting up and running, please join us, more like road maps etc is coming!

  • Our other seed investors include BitKub, DeeMoney and Decentralized so far.

  • We have 4 entities on-boarded for borrowing (4 more on the way), they include DeeMoney, Smartway Systems, Kapook EU, and Hanpass.

  • We have a total allocation of 20% to the team, 2% to advisors, and 12% to investors, a total of 34%, the rest goes to the community, details on specific allocation is available on our docs page (Distribution & release schedule - MoneySwitch)

if you have any other concerns or queries, please let me know!

Hi, I do not mean this in a bad way, but we would be just taking your word for it, and to me you are just a stranger in the internet. Unlike other partnerships like with Curvance or Perpetual, with public information or projects the Frax team had already had talks with.

can we have the team details please.

Hi Sparkes,

You can find our team details on page 19 of the WP - download here
The WP is also available on the website, let me know if you need anything else.