Great to see you making a proposal on the forum @noahchonlee! You and your team are a shipping machine.
From my perspective, the bootstrapped GG21 experiment sufficiently showed there was both demand and usage of fiat payments. Itâs great that this set up drives Allo GMV.
I wonder if you have a specific numerical ask here and if this is the type of thing that goes through gitcoinâs governance or another process
Hey @noahchonlee ! Thanks so much for posting this â Iâm excited that you guys want to contribute to GS and push fiat donations forward. How we move forward depends on the technical plan here, I think a good next step is to connect w our product/eng team to figure out what the specific proposal is. Then we can figure out go-forward plan and commercial terms.
Echoing the sentiment here, we saw fiat options as a major request in the first Ma Earth grants round, and expect this to continue to be the case.
Hey Umar!
Mathilda had encouraged us to apply for a citizens grant. Do you think thats the best path forward for this?
For pricing we were thinking of charging both a retroactive + usage based model.
Usage based:
5% transaction cut for credit card/paypal (3.5% + $0.35 per transaction goes to paypal, 0.75% to viaPrize team and 0.75% to Gitcoin). This would be ongoing.
Retroactive:
We are willing to bet on our belief in how this will increase Allo GMV.
We suggest we are paid the equivalent of the Allo GMV processed through us after 1 year. We expect the number to increase exponentially afterward, but this would be the one time retroactive cost.
We would need an upfront transfer to keep our crypto reserves stocked.
For now we manually refill it by turning the fiat into stablecoin. Do you have any data on whats the most thats been donated within one weekend? We would want to stock the reserves with that amount minimum.
Then after 1 year (and at least after 4 GGs end, in case thereâs a delay) we would be sent: Allo GMV from fiat minus the upfront transfer
We also are testing bank transfers which may invite much larger one time transactions. If theres a single large donation (such as the 400k donation to Gitcoin in 2021) instead of using reserves our team can manually handle such cases within a few day delay.
Thank you for the connect to Kat! We have a call Friday 
Update, we have more community rounds asking us to add this integration, we donât have the resources for it so would have to pick just a couple and say no to the rest if we donât do this with Gitcoin
Love this proposal!
Would be really great to see this implemented in time for GG22. I know the BioFi Pathfinders round would really appreciate this as a lot of their potential donors may be non-Web3 native.
Would be awesome to see this functionality integrated directly into Grants Stack, if not would love to set up a ViaPrize page for GG22 for the rounds on Celo! :))
Update from my side as well.
The Planetary Council round got rejected: it means less rounds for you, more time for me. I can totally help you with reviewing / evaluating / scoring your round Youth in Need as a juror / evaluator.
I also left the comment on the GitHub issue that youâve created: Fiat Donations in Grants Stack ¡ Issue #3658 ¡ gitcoinco/grants-stack ¡ GitHub
Longer term I would like to suggest / discuss / propose (not sure whatâs the best place / form / factor) some additional features in the Grant Stack, areas adjacent to accepting PayPal / credit cardsâŚ
I see this as on-topic / related / worthy discussion. Starting from donor CRM and ability to follow up with people via email / socials. This is inspired by the current Climate Coordination Network Jokerace: it would be so handy to follow up with existing donors. This feature is / seems incredibly useful in terms of adoption / scaling / GMV (gross marketplace value) 
Thatâs an intriguing idea. Maybe we could have a little checkbox when people check out during donation saying âsend me email updates from the projects Iâm donating to.â If fiat, we already are getting their email. If crypto donation, maybe if they click the checkbox then a text field appears where they can add their email. Maybe this could even be linked to Karma Gap so when a project adds an update to their project it is automatically sent out in an email to all donors who checkmarked the box. Also chatted with Mahesh about making Karma Gap gasless. If we made karma gap and gitcoin gasless and include web2 login then anyone could easily participate in these systems and have easy email communication in the ecosystem. I think a great first step even before getting complex impact tracking is just having a way to email someone you gave money to so you can ask, âhey, whatâs going on?â
Probly not most important data point but my 2nd most liked tweet (after the tweet about ppl funding the youth in need round) is the suggestion to add fiat to Gitcoin 
Other update, called with Sov who said DAO vote could be way to move forward with this, gave lotsa helpful advice
And awesome call with Kat and Ed and we clarified technical side, and theyre are asking Meg best approach for funding it, and they suggested I put together a clear product requirements doc with showing the user flow so Iâll work on that (tl;dr itâs super simple and just click pay with Paypal for donors, for project managers theyâd just have to send us a CSV which we send back to them with the whitelisted wallet addresses)
We already have this and many funders are receiving updates from projects they funded every month!
Easy to subscribe, just enter your wallet address, we fetch all the projects you funded and will subscribe you to those project updates.
Brilliant!!
Ill see if i can include instructions for donors to do that in the youth in need round description
As recommended by Kat Iâm writing up here details on the user flow
Donor user flow:
Click âdonate with Paypalâ in their grant stack cart. Do the usual PayPal checkout. Thatâs it.
Video here of how we did it in the viaPrize website: https://photos.app.goo.gl/UbqyYnGS78jQmhJb7
Project manager user flow:
At the end of the round, We send the CSV back with the list of whitelisted wallets. Thatâs it for the project manager.
Note on the CSV:
If the round manager or Gitcoin prefers, instead of doing this for them, we could show them the Paypal data and they could edit the CSV themselves. We might be able to automate this in the future as well. For now itâs pretty easy to manually whitelist the wallets with a checkmark associated with verified Paypal accounts.
This proposal would fund the viaPrize team to build fiat donations to Gitcoin projects directly into Grants Stack in time for GG22.
Funding would consist of the following:
During GG21, our team successfully built fiat donations on our own site for the Open Civics round which led to 7.21% of donation volume occurring through fiat. We believe this number would be much higher if the option were added directly into Grants Stack because this was a new, unfamiliar feature only found on a separate website.
Upon seeing this success, most GG21 rounds asked us to build this for them as well. However, we did not have the resources. Currently, several rounds for GG22 are asking if we could do the same thing this time for them, and once again we do not have the resources to assist with this community demand.
If this proposal is passed, then we will be able to support all rounds with fiat donations and have a much better user experience by including this directly in Grants Stack.
-An individual checks out in their cart through PayPal with $100 for example. See a demo video of how this worked during GG21 https://photos.app.goo.gl/UbqyYnGS78jQmhJb7
-We send 100 in stablecoins from our crypto reserves through a wallet generated for the user to those projects
-Those donations receive full matching if they have a verified PayPal account
Why the 100k upfront?
We manually refill the crypto reserves by turning the fiat we receive into crypto. Thus, we would want enough on hand so that it doesnât run out due to donation volume exceeding the reserves over a weekend. Considering 600k was donated during GG20, we think 100k would provide a reasonable buffer.
Why the ongoing transaction fee?
Transaction fee breakdown: 3.5% + $0.35 per transaction to PayPal, 0.75% to Normie Tech, and 0.75% to Gitcoin.
The transaction fee to us allows us to scale our crypto reserves as usage increases.
The transaction fee to Gitcoin provides valuable insight into a potential way for Gitcoin to become self-sustaining long-term.
Why the retroactive cost?
We would be rewarded equivalent to how much Allo GMV was processed through our feature after 1 year and at least 4 GGs (in case a GG gets delayed before the end of the 1 year time frame.) The 365 days would start when the feature goes live.
If 300k is processed through us after 1 year, Gitcoin would send us 200,000 in stablecoins (300,000 minus the 100,000 already sent).
If 50k is processed through us after 1 year, we would send Gitcoin $50,000 (50,000 - 100,000).
Plus, weâre PGF nerds in a crowd of PGF nerds so⌠letâs go retro 
By making the costs usage-based + retroactive we ensure our incentives are aligned. The benefit to us is proportional to the benefit produced for Gitcoin.
Noah Chon Lee (steward responsible for the execution of this proposal)
Dipanshu Singh
Nithin Varma
Swaraj Bachu
Aryan Tiwari
Donor flow:
Click âdonate with Paypalâ in their grant stack cart. Do the usual PayPal checkout. Thatâs it.
Project manager flow:
After the round, we send the round manager a CSV with the appropriate wallets whitelisted. The round operator uploads the CSV into manager.gitcoin.co and then sends funds the usual way.
Each unique PayPal donor account would be linked to a single custodial wallet.
The Sybil resistance consists of whether this donation comes from a verified PayPal account.
Verified PayPal account = has a bank account linked to it.
Weâve stress tested this ensuring only one bank account can be linked to one PayPal. Umar the head of data of Gitcoin has called this Sybil resistance satisfactory.
Due to PayPalâs $0.35 minimum fee per transaction, we would implement a $2 minimum donation. Note that a donation to many projects at once would count as a single transaction.
Bank transfers and Visa card verification
Weâve found APIs that we are in process of gaining production access to which allow us to check whether someone is using their legal name in a bank transfer or a Visa card transaction. We likely can add bank transfers as an option (with $50 minimum donation) which invites larger transactions. If we access the Visa API we may eliminate PayPal in the future and also increase the cut to ourselves and Gitcoin.
Accepting a Github request that would add the pay with PayPal button into Grants Explorer.
We would also add a little alert by the button that says, âMake sure a bank account is connected to your PayPal account to have matching funds added to your donation.â
Perhaps in 5 years Allo GMV will be 10x thanks to this capability.
Chargebacks
Credit card chargebacks average 0.6% in online platforms
We would deduct these costs from the transaction fees given to us and Gitcoin.
Massive transaction at end of the round
If a massive transaction comes in through fiat (such as the 400k that was donated at once in 2021) that exceeds our crypto reserves, then we can still process it manually with a few day delay. If this massive transaction comes in within a few days of the end of the round then it may miss out on automatic matching.
Time to pass this proposal
Considering that we must take 5 days of discussion then 5 days of voting before finishing this proposal, we may need to build in this feature 3 days before the start of GG22. We believe this is doable, especially if the DAO vote is passed quickly, but we may have to launch fiat donations partway through GG22.
Responding to question from @meglister
Called with @umarkhaneth about potential of automating the user flow for round operators.
Worst case scenario our team would send round operators a CSV that they add into QF calculator which takes a couple clicks and 15 seconds just like we did for OpenCivics.
However, we might be able to automate this before the end of GG22.
He suggested:
Gitcoin sets up a cloud folder (just a list of addresses to whitelist)
Our team would write the file and Gitcoin would read from it and pull it into the calculator
Then round managers donât need to upload a CSV from our team to calculator.
@katalunia does this sound right to you? Also whatâs Edâs forum handle?
Keep in mind this resource: Grants Stack GraphQL indexer - possible to fetch the data on viaPrize to have all rounds, all projects, purely as a backup, in case 1-class Grant Stack integration not accomplished in time.
If you are not working everyday with these data structures, it takes some effort to figure out the correct query (but I did it anyway, see this GitHub issue), thatâs why help / support / dev time from Gitcoin core contributors is practical, one way or another.
I would love to support BUT the bounty seems excessive.
Where is the money coming from? 
You cannot guarantee the $GTC token performance. In fact Iâd rather bounty in $GTC and mutual exchange of the viaPrize tokens. Ideally viaPrize can becoime a new crypto onramp payment system financial system lego block and becomes public good In terms of new financial systems: just imagine a coffee shop and by buying there you become a shareholder of the place, genuine WIN WIN WIN.
The $100m is totally aligned with the vision: How might we scale Gitcoin's Impact from $50mm GMV to $500m GMV? đ
RELATED: https://transak.com/ (buying crypto reasonably easy, something to keep in mind)
Maybe use this https://www.privy.io/ maybe use some open-source alternative. I do not like the vibe of managing custodial wallets, thatâs a honeypot for hackers. Need to think about about OPSEC and INFOSEC (security in general) from the start.
Also in terms of governance: donât mix 4 questions in into one.
Currently the vote is clear NO to me, needs rewording 
EDIT / UPDATE / RELATED:
The cashback in $DON⌠Thatâs also kind of logical. Inspired by the UK regulation - when donating, cannot receive anything in exchange. Donation token = hacker mindset, finding loopholes, treating regulation as a guideline. Technicaly speaking there is nothing wrong with it. Maybe in 5 years the courts will decide otherwise, but in the meawhile I see this as a genuine pathway to adoption. It is the role of visionaries / entrepreneurs / builders to push the limits of what is possible. It is morally ethical and acceptable in my book, even though the UK charity regulator may not like it.
Initially suggested in legacy twitter thread on May 20. We can design Web3 onboarding experience 
this is an interesting proposal, and i believe Gitcoin could def benefit from fiat donations â would love to see the integration happening, given that tech & ops details are aligned. good luck!
Ok update talking with Meg that we need to look more into the legal side of this. She said sheâd connect me with some lawyers to chat with
@meglister update, called Bridge.xyz (stablecoin service being bought by Stripe) and they have money transmitter license
Itâd cost $2,000 /mth and 0.40% transaction fees
So we have a solution we are testing though itâll cost us
And we also would use non-custodial wallets if thereâs concerns about the MTL so thatâd also cost Privy.io fees
nice â would also love to learn more about how we can verify unique wallets/users!
