AIP-340: ApeCoin Payment Gateway 

ABSTRACT

This proposal aims to launch the ApeCoin Crypto Payment Gateway allowing online stores to easily accept APE token as a preferred payment method.

The ApeCoin Payment Gateway will include an API to connect with other platforms and integrate Shopify and Wordpress payment plugins for merchants and online stores. Offer lower transactions fees for using ApeCoin as a payment method.

BENEFIT TO APECOIN ECOSYSTEM

1. Increase the use cases and utility of ApeCoin.
2. Encourage ApeCoin adoption by offering ApeCoin payment options to merchants and online stores
3. Increase participation in the ApeCoin ecosystem.
4. Offer ApeCoin as an a preferred payment method with a low transaction fee of 1%
5. Offer ApeCoin payment options to regular web2 online stores and users.
6. Additional incentives and benefits for ApeCoin communities, eg. discounts, reduced fees, rewards and more.

OVERALL COST

Project Setup Cost Breakdown User and admin software modules = $3 000.00
Wallet installation (6 Coins x $750 ) = $4 500.00
Includes: APE / BTC / ETH / BNB / USDC / USDT
Merchant API, merchant tools & button maker = $2 800.00
2x Online Store Plugins (Shopify, Wordpress) = $3 500.00
Implementation of security mechanisms, ssl certs, etc. = $2 200.00
Testing, UI and refinement of solution = $2 000.00

Total Project Setup Cost = $18 000.00 once off

Monthly Operational Cost Breakdown
Server Hosting = $50.00 p/m
Dedicated Support service = $400.00 p/m
Marketing/ Designs / Promotions Budget = $400.00 p/m
Project Management / Operations = $1 800.00 ( 90 to 100 hours p/m @ $20 per hour )

Project manager rates currently average $40 to $60 per hour in the USA. Rates set at 50% less to reduce AIP costs, times given are an estimate of operational tasks and duties to manage project, handle merchant KYC, onboarding processes and any other tasks associated.

Total Monthly Operations Costs = $2 650.00 per month 12x Monthly Costs = $31 800.00 per annum

Total Grant Request
$49 800.00 USD equivalent in ApeCoin token (Approx. 45 272 APE at $1.10 current price)

Targets:

1. Reach $100 000.00 transaction volume @ 1% = $1 000.00 per month. Month 4
2. Reach $200 000.00 transaction volume @ 1% = $2 000.00 per month. Months 5 to 8
3. Reach $400 000.00 transaction volume @ 1% = $4 000.00 per month. Months 9 to 12 800 Made by Ape stores with $500.00 transactions per month will give us $400 000.00 total per month. Proposal Notes:
4. I have opted to leave out certain extras we could include like Jumpseller and Primer plugins for online stores. These are not currently available as part of the white label solution and development cost is an additional $3500.00 each
5. We can include additional tokens at $750.00 each for wallet installation/integration.
6. The application will not integrate with any banking solutions or credit card providers initially and will utilise crypto wallets to store funds. We would like to launch an ApeCoin credit card
facility in future.
7. Additional features and plugin integrations will be funded via earnings received to continue adding features and functionality to the platform.
8. Monthly reporting will be provided for transparency.
9. We aim to give back to the ApeCoin community via ThankApe and the ApeCoin Innovation Fund initiatives.

PROPOSAL

Link to the full proposal: https://forum.apecoin.com/t/aip-340-apecoin-payment-gateway/18974

The AIP implementation is administered by the Ape Foundation. Implementation may be immaterially or materially altered to optimise for security, usability, to protect APE holders, and otherwise to effect the intent of the AIP. Any material deviations from an AIP, as initially approved, will be disclosed to the APE holder community.