Proposal: Integrate $VAI stablecoin as payment method in Uquid and build Uquid Web-app on Venus Community Website

Venus Governance Venus - Governance Proposals
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Summary

Uquid is the leading Web3 E-commerce platform which aims to offer the best shopping experience for Crypto Users around the world.

Uquid launched in 2017 and is a pioneer in applying DeFi and Web 3.0 to E-commerce. Uquid has supported many blockchain networks including Etherem, BSC, Tron, Near. Allowing users to start shopping by using flexible payment methods: Visa, CryptoCurrency, Binance Pay, Gate Pay,etc. Uquid was a top 3 company worldwide to provide Uquid Card -a cryptocurrency debit card powered by Visa. Today, Uquid is one of the popular E-commerce platforms for Crypto-users to buy the goods.

The proposal aims to develop two purposes for the Venus community. The first one is the $VAI integration as payment method in the Uquid platform means Venus community can use $VAI to purchase goods on Uquid shop. The second is building the Uquid platform on the Venus Website and bringing beneficial influence to Venus by sharing the profit of selling products.

Motivations

Uquid shop is one of the very first and most popular Web3 Ecommerce platforms developing since 2017, with an average 50M monthly volume traffic… In 2022, Uquid has reached 2.26M active users globally.

With the rapid development of the cryptocurrency market, the demand of using digital assets in daily life has been increasing. Uquid is the pioneer in applying DeFi and Web 3.0 to make it a reality. With stablecoin, $VAI integration in the Uquid platform will open the new door to help the Venus community start shopping and boost the huge amount of liquidity for $VAI.

As a result, Uquid are keen to build a long-term relationship with the Venus community, adding $VAI stablecoin as the payment method and building a Uquid shop Web-App on the Venus Community website. (VenusStars.io)

Proposal Rationale:

  1. Able to cope with the trend of crypto shopping
  2. Able to promote $VAI stablecoin - main focus of Venus in this quarter and acquire & convert more users to $VAI
  3. Binance, Gate & Ledger have tested the market of crypto shopping through Binance Pay, Gate Pay, Binance Marketplace & Gate MiniApp and attested for the great traction
  4. According to Binance 2022 Year-in-review:
  • 22 million people using Binance Pay
  • $48 Billion in Binance Pay transactions
  • 9,000 merchants to use Binance Pay
  • Over 10 million monthly traffic to Binance Marketplace
  1. Uquid marketplace highlights:
  • 2.5M+ registered customers
  • 50M+ monthly traffic (from Physical Shop: uquid.com; Digital Shop: shop.uquid.com; Mini Apps on Binance Marketplace, Gate.io MiniApp Center & Ledger)
  • 120M+ physical products, 121k+ digital products listed
  • Best range of products to satisfy any crypto users
  • Mobile top up services: 180+ countries, 2100+ operators

Provide great benefits for Venus community and ecosystem

  • Accessible to 2.26 active Crypto users in the world
  • Start shopping with over 120 million products at competitive prices
  • Boost the liquidity and adding more utility for $VAI stablecoin
  • Uquid can provide marketing support and resources to promote the launch of new $VAI on Uquid, thereby spreading more awareness about Venus.
  • Support to build merchant/vouchers for Venus community and boost the consumption with our users
  • For marketplace building, Uquid will share the profit based on the revenue through your site.

Development Stages

Stage 1: Integrate stablecoin $VAI as the payment method in Uquid Shop

  1. Expected timeline: 2 weeks ETA

  2. Technical process: Will be done by Uquid’s Tech team

  3. Advantages:

  • Fast & simple integration
  • Quickly satisfy the demand of $VAItoken holders for crypto shopping
  • Increase the utilization of of $VAI token
  • The community can get new token rewards for purchases with $VAI token
  1. Video demo:

Stage 2: Co-organize marketing activities to raise awareness about our collaboration

  • Marketing budget requirement: $15K in $VAI token (this will be locked in the prize pool and only unlocked after campaign or any expense decided by both sides).

  • Marketing Activities: Flash deal, Shopping crazy deals, BlackFriday Deals, Cashback, Shopping reward pool, etc

  • Purpose of using budget:
    1.Educate and raise brand awareness of Venus and how to use $VAI to make payments in Uquid
    2.Incentive $VAI token for users purchase with $VAI token
    3.Gain trust for the Venus community

Note: All the marketing budget will use for incentive program to rewards Venus Community

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Stage 3: Integrating Uquid Shop (WEBVIEW) to Venus community website (http://venusstars.io/)

  1. Expected timeline: 2-4 weeks ETA

  2. Tech requirement: Minimal effort

  3. Advantages:

  • Fast & simple integration
  • Quickly satisfy the demand of Venus users for crypto shopping
  • Easy to test the demand of Venus user base (of course, we need co-marketing effort here to spread the news)
  • Revenue model for Venus: Uquid will share the profit based on the revenue through your site.
  • Uquid Tech Team can deploy fast based on our experience with Ledger

  1. Method: Integrating Payment API to allow Uquid to create invoices and process the payments directly from Venus website

  2. Demo Uquid in third platform:

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Hi, I’ve been a loyal customer of Uquid’s digital shop for a while now, thanks to my friend’s recommendation. Actually, I had no idea about web3 e-commerce before, but after trying it out, I must admit that Uquid is doing great. They are constantly developing for their customers, updating their products, and increasing integration with payment methods.

I think it would be a wise and great idea to enhance our convenience and user experience if Uquid integrated $VAI and had a web-app on the Venus Community. It’s been a long time since I’ve seen an organization that always keeps updating and taking care of its users like Uquid does. I’m impressed and grateful for your efforts

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Thank you for showing me such a great proposal. I am curious if you guys have any special promotions besides flash sales. I mean, how does the loyalty mechanism work on Uquid? Can you share more about this?

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Hello, as a new user to Uquid, I came across this post and was wondering if Uquid provides a ‘buy now, pay later’ option like traditional e-commerce sites that allow users to shop more and pay in installments. If so, can you explain how it works? btw your proposal looks great, and I would be thrilled to experience your app on the Venus Community website.

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Hello, I have heard of Uquid shop from my friends, but I have never tried purchased anything from the shop yet. May I ask that the delivery of Uquid shop is global reach or it just support Western countries? Hope I get the answer soon.

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So basically, we r gonna get another mini app of Uquid shop on this Venus Community Website right? If so, that would be awesome cause sometimes others shop are lagging so users may find it convenient to have a variety of choices to access Uquid shop.

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I’m new to Uquid shop, so I have one question. Having read your post carefully, I kinda get the big picture of Uquid shop’s scope of business. However, I’m still pondering abt Uquid: Alpha Mobile Top-Up Service, can you please explain it to me? I thought Mobile top-ups are available on Uquid digital shop only. Please kindly educate me on this matter. Thanks a lot.

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I used to hear about this web3 platform about my mate but have not tried it yet. I just know that Uquid has many kinds of products and accepts many tokens. Besides, are there any special features about this shop? Can someone tell me?

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I’ve used Uquid’s services a few times and have always been impressed with the ease and speed of the transactions. I’m curious to know more about the proposed integration of VAI stablecoin as a payment method. Can you explain how this will work and how it will benefit Uquid customers

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I’m a newbie, and actually, when I came here I just found out that Uquid is an e-commerce web3 platform, but where can I start? And what coins does Uquid accept for payment currently?

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I’m new to the world of cryptocurrency and I’m interested in learning more about Uquid. Can you tell me more about how the platform works and what makes it different from other payment platforms? Also, I’m curious about the proposal that’s been posted on the Venus community forum. Can you explain in more detail how integrating VAI stablecoin as a payment method in Uquid and building a Uquid web app on Venus would benefit users? Thanks in advance for your help

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Looks like a lot of bot posts in this thread… anyone else thinks so?

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Thank you for using Uquid. We’d love to bring the best shop to earn for community.

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We do have many special activities for users. For example, If we have a chance to work with Venus protocol, we will run some campaigns like cashbacks, black Friday, special deals,…
And Venus community will be the one who receive benefit from the campaigns

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Yes we supported Western countries haha

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Yeah of course mate!
We have been working with Binance, Gate, Ledger and users are satisfied with the web-app in the third party