[FIP - 399] A Frax Shopping Experience, Powered by Moso

What are Moso Shops?

Moso Shops is a platform that integrates token-based rewards into retail transactions, offering a unique way to enhance user engagement and power transactions across one’s ecosystem. The platform is designed to cater to both web2 and web3 users.

It enables users to shop at over 2000+ supported web2 retailers including Walmart, Marriott, and eBay to earn in the crypto asset of their choice. Additionally, Moso offers a custom, white-labeled shopping experience for web3 brands where users can earn up to 100% cash back or more exclusively in the ecosystem’s native token. For Galxe Shop, the rewards are partially funded by both the merchant and Galxe.

Moso has seen $500,000+ in purchases, registered 100,000+ sign-ups, and distributed $200,000+ in crypto rewards back to users.

Moso aims to work directly with Frax to provide $FXS cash-back rewards in a Frax Shop, powered By Moso.

We’re thrilled about the opportunity to integrate deeply into the Frax ecosystem as the only retail shop to earn cash back experience fully distributed in $FXS.

How are the cash-back rewards distributed?

Moso requests a token allocation from Frax to boost cash back rates, on top of the fixed cash back rates paid to Moso by the Web2 merchants for driving purchases to these retailers.

Increased rates will only sometimes be available. Boosted cash back rates of as much as 100% back in $FXS at selected merchants will be deployed from time to time allowing users to find amazing shopping deals that they otherwise would not have access to. In this scenario, the rewards are partially funded by both the merchant and Frax.

When boosted rates are not being deployed, web2 merchants distribute cash back to Moso. Moso converts the fiat cash-back to tokens on the backend for distribution to eligible users. In this scenario, the merchant fully funds the rewards.

Amazingly, users will always be earning cash back in $FXS.

How can a white-labeled shop benefit Frax?

• Powering Transactions:

  • Increase user engagement and value.
  • A great way to get new users onboarded to Frax and Fraxtal.

• Fiat Integration:

  • Seamless integration of fiat currency into tokens, enhancing token utility and value. Fiat retail purchases = $FXS rewards.

• Delayed Rewards:

  • Token lock-up during the payout period to maintain user interest.

• Retail Audience Focus:

  • Target a retail-heavy web2 and web3 audience, catching the attention of users interested in deals and rewards.
  • Demonstrate that Frax is more than just a DeFi and L2 ecosystem.

• Web2 User Exposure:

  • Attract new holders and users from the traditional Web2 retail space.
  • Discoverability of Frax and Fraxtal.

• Additional Token Utility:

  • Provide various incentives, allowing users to qualify for up to 100% cash back on purchases.
  • Custom actions enable users to earn cash back and other rewards.
  • Great option for ecosystem users who already shop online. Why not have them earn and hold your native token?
  • Increase demand and liquidity.

• Crypto Back Offers:

  • Transactions on the protocol level can qualify users for $FXS cash back, driving further engagement.
  • Frax will become the prime destination for crypto-based online shopping rewards.

Moso’s game plan and execution

Our goal is to onboard new users to the Frax ecosystem, drive visibility to Frax as the leading DeFi and L2 ecosystem, and re-engage existing users all through Moso. Throughout all of this, Frax can identify valuable, active ecosystem users with a real-world use case. This data can be leveraged in any marketing campaign Frax executes moving forward to continue to capture market share among users.

Moso plans to distribute loyalty points to users in parallel with the higher cash-back rates in $FXS. Loyalty points can be earned by users continuing to visit the Frax Shop to Earn page daily. To include additional gamification methods, points will also be distributed from purchases at retailers and for engaging with different Frax ecosystem dapps/DeFi integrations.

Moso also acts as a gateway for users to discover Frax’s best applications and DeFi integrations. Moso will work with the Frax team to understand which applications to highlight on the Frax Shop alongside retailers.

By engaging with dapps and executing an on-chain action, the user will qualify for points and cash back. Cash-back rewards by engaging with Fraxtal dapps are TBD as that discussion will take place with the application since it revolves around the kickback the dapp can give in return for the conversion. This is the perfrect fit for dapps who already have a referral program in place or are in need of a referral program.

Each shopping trip will power up to three on-chain transactions on Fraxtal for users engaging with the Frax Shop. Fraxtal would be the first L2 ecosystem to be fully integrated into Moso.

• The user claims $FXS on Fraxtal through Moso to claim their cash back
• The user claims points on-chain via Fraxtal as a reward on Moso
• The user executes a transaction on a Fraxtal dapp through Moso

Exciting traction

$500,000+ in purchases

$200,000+ in rewards distributed to users

100,000+ sign-ups

What Moso is proposing

Package	Standard
Allocation	$50k+ USD
Fee	10% of the total token grant
$FXS token added to chrome extension & web browser	Yes
White-label shop	Yes
Customer service & maintenance	Yes
$FXS cash back claiming on Fraxtal blockchain	Yes
Custom development for added functionality: Lock $FXS cash back tokens for increased rates Onboard ecosystem dapps to your Shop page Spend $FXS cash back tokens with web3 merchants	Yes

Project Links:

• Website: https://moso.xyz/
• Twitter: https://x.com/MosoHQ
• Discord: https://discord.com/invite/moso
• Other: https://blog.moso.xyz/ (Medium)

The ask from Frax DAO

Moso requests a token grant from Frax of up to $50K USD in $FXS to boost cash back rates, on top of the fixed cash back rates paid to Moso by the Web2 merchants for driving purchases to these retailers.

Poll

For: Create a white-labeled Frax Shop enabling users to claim cash-back in $FXS on Fraxtal by shopping at Moso’s 2,000 supported merchants. Moso requests a token grant from Frax of up to $50K USD in $FXS to boost cash-back rates on top of the web2 merchants' fixed cash-back rates being paid to Moso for driving purchases to these retailers.

Against: Do nothing