Giftcard/Game bots Proposal

Tender Cash Wallet has been operating smoothly for over three months now, and we've been seeing a steady increase in wallet generation thanks to the redeeming of ECO points through Tender. However, currently, many Tender wallet users are just holding onto their ECO and ECOx without using it actively. As a result, we've been brainstorming ways to incentivize the usage of ECO and ECOx and have started adding value-added services to improve the ecosystem. The Marketplace which is a community-built and oriented server has provided us with an opportunity to implement these services, and over the past few weeks, we've been developing games and a gift card bot.

One of the games we've developed is a Tender Original called Reveal. It's a game of luck and calculation where players guess a number picked by their opponent and then choose a number they think their opponent won't be able to guess. We've also created a simple lottery ticket game called Lottery that selects a winner at the end of a three-day cycle. With these games, we hope to encourage some friendly competition within the ECO community and the larger Discord ecosystem.

In addition to these games, we're also working on a Powerball-style lottery that we believe will generate even more excitement.

Our Giftcard bot provides the ECO community with access to over 14,000 gift cards in over 170 countries. Any Discord user can buy gift cards directly using ECO tokens via their Tender Cash Wallet. Previously, ECO holders had to swap their tokens for USDC on Uniswap to buy gift cards, incurring a cost of over $30. With our Giftcard bot, users can buy gift cards without having to incur such a high cost.

 Sustainability /Profitability:

Each game play on the Game bots incurs a 20% fee, whereas the profit margin for Giftcards ranges from 0.2% to 3% per purchase. Sustainable profitability for the project in the long run will largely depend on its usage. Currently, transaction volumes for ECO on-chain are low as evident from the data available on Etherscan (https://etherscan.io/address/0x8dbf9a4c99580fc7fd4024ee08f3994420035727). Therefore, our priority is to focus on improving usability and the value proposition within the Ecosystem, which should drive usage and ultimately lead to profitability.

Roadmap

Looking ahead, we're planning to develop a Tender Web wallet that will enable account abstraction (ERC-4337) and allow users to generate non-custodial wallet addresses and take control of their activities. This will enable us to build a better ecosystem around Tender outside of Discord restrictions.

Breakdown can be found here https://www.figma.com/file/XKgVg6AnHdpDyFLdYgIYr3/Builders-Ecollective-Grant-Flow-(Copy)?node-id=0%3A1&t=wscP5yhpgXr3gGOu-1

Fund Request

We would like to request funding for the development of our gift card and game bots as we believe they will bring usability and activity to the ECO system. Our funding request includes hosting ($288), gift card liquidity ($2000), and operational and development costs $6,500 for the development work.

Breakdown

Using Digital Ocean: $6x3 instance (minimum setup) with possibilities to increase size.

Database : $15x2 instance (minimum setup) with possibilities to increase size.

Gift card Liquidity : (Reloadly)The Giftcard API provider charges in USD and to process the gift card purchase, we need to maintain a balance in that currency. The quickest approach is to pre-fund this wallet with USD and subsequently convert any received ECO tokens to USD when the gift card balance is low. Therefore, we are seeking funding of $2,000 for liquidity purposes.

In order to maintain transparency, we will provide reports and logs that detail sales as well as the balances of both the Tender wallet of the Giftcard bot and the Giftcard API provider's wallet.

In a situation where Liquidity is not used, The Reloadly account can be passed on to the Builders Ecollectives.

Tender's rapid development can be attributed, in part, to the fact that it is a team effort, rather than individual work. In fact, 90% of the team members are not even on the ECO server. Our approach to development is more structured like that of a startup.

Hosting: $288 (6 months)

Gift card Liquidity: $2,000

Development: $6500

Total amount requested: $8788

Fund destination : Send 457042 ECO (at $0.01937289/1 eco on the 20th of April 2023) 0xfEa6186BEeFD1819Df77c724940a6f984905DD44