Revuto - MASTERCARD integration >>> to bring Cardano Native Tokens to Debit Cards supporting crypto <<< and remove friction between crypto liquidity and real-world economic activities -> Subscription Payments!

[GENERAL] Name and surname of main applicant

Vedran Vukman (Vex)

[GENERAL] Are you delivering this project as an individual or as an entity (whether formally incorporated or not)

Entity (Incorporated)

[GENERAL] Co-proposers and additional applicants

Revuto Team:

Marko Rukonic (Rux) - CTO

Dorijan Jelincic - Lead Backend Dev

Tin Blaga - Business Dev

Dani Loga - Marketing

Sanja Zeljkovic - MLRO

Mestar - Community Mng.

Tomislav Lazar - Android Dev

Luka Finderle - iOS Dev

Matija Tusek - Backend Dev

Josip Baketaric - Backend Dev

Marin Viskovic - Backend Dev

Robert Smolcic - Backend Dev

[GENERAL] Requested funds in ada

380000

[GENERAL] Please specify how many months you expect your project to last (from 2-12 months)

3

[GENERAL] Please indicate if your proposal has been auto-translated into English from another language

No

[GENERAL] Summarize your solution to the problem (200-character limit including spaces)

Revutoo is a mobile app with a built-in non-custodial Cardano wallet, integrated with a debit card issuing (https://linkcy.io/) and banking provider (https://www.paynovate.com/), e-money regulated.

[GENERAL] Does your project have any dependencies on other organizations, technical or otherwise?

Yes

[GENERAL] If YES, please describe what the dependency is and why you believe it is essential for your project’s delivery. If NO, please write “No dependencies.”

Debit Card issuing is a regulated activity. To access the Mastercard card scheme and start issuing debit cards supporting crypto, a company must be regulated (licensed) and partner with card issuing and banking providers (acquiring and offering IBAN accounts).

Revuto is dependent on the card issuer ((https://linkcy.io/) and banking provider (https://www.paynovate.com/) and is integrating with Fireblocks (3rd party service provider offering multi-chain wallet infrastructure) to support Cardano Native assets for the debit card top-up feature.

[GENERAL] Will your project’s output/s be fully open source?

No

[GENERAL] Please provide here more information on the open source status of your project outputs

Revuto is a proprietary product (a mobile app) that leverages Web3 technology (Cardano native tokens, NFTs, and DeFi) to offer its users unique financial products and help them actively manage and pay for their subscriptions.

[SOLUTION] Please describe your proposed solution

Revuto will start issuing debit cards supporting Cardano Native assets to help people use crypto in real-world economic activities (subscription payments) and grow crypto adoption. The ultimate goal is to introduce non-crypto-savvy people to a world of Web3 products (crypto and crypto wallet, NFTs, and DeFi) and offer them superior financial products to help them save and earn money.

Understanding the Problem:

Non-crypto-savvy people have problems accessing and understanding (using) complicated Web3 products. On the other hand, crypto-savvy users are desperate for Web3 products covering simple real-world economic activities like payments to help them save or earn money. We're an experienced team that understands that by offering users an easy-to-use mobile app, we can solve both problems.

Approach to the Solution:

We offer debit cards supporting crypto wallets, NFTs, and DeFi (micro-lending and borrowing liquidity pools). The cards are connected to tailor-built (unique) products built on Cardano (payments from crypto wallet, Stake to Subscribe supported by crypto staking, "Buy Now, Pay Later" supported by micro-lending and borrowing liquidity pools, Monetizing unused subscription periods with NFTs, integration with other services) to help people save and earn money.

Engagement:

Revuto has almost 400K registered users worldwide, and its debit cards will serve around 150K registered users from EEA and the UK. Later, by obtaining the required licenses, the company will expand its services outside of EEA and the UK. The product will primarily engage current Cardano users who hold native tokens and want to use them for payments, but most importantly, many users who didn't have any contact with crypto (Cardano) in the past but would love to leverage Web3 products to help them save and earn money when paying for their subscriptions.

Impact:

• real-world use case
• onboarding MILLIONS ONTO CARDANO

Revuto promotes conscious spending by allowing users to see how much money they save using web3 products built on Cardano. Such savings will help GROW CARDANO ADOPTION among non-crypto users.

Uniqueness:

We're one of the few apps integrating traditional financial products (debit cards) with unique products built on blockchain while offering an easy-to-use and approachable UIX.

[IMPACT] Please define the positive impact your project will have on the wider Cardano community

>>> IMPACT ON CARDANO <<<

• real-world use case
• onboarding MILLIONS ONTO CARDANO

Offering >>> Debit Cards supporting Cardano Native Tokens <<< for payments will expand the utility of many Cardano native tokens outside their ecosystem. More importantly, allowing users to use CNTs to manage and pay for subscriptions will grow Cardano's adoption among many people worldwide.

[CAPABILITY & FEASIBILITY] What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

We've been building on Cardano since 2021., during which we gained troumedouse experience developing fintech products, including compliance and regulation. We integrated with several platforms like SumSub for KYC verification, BANXA for FIAT-to-Crypto on-ramping, e-vouchers for redeeming crypto, Altwin for decentralized sports betting, and now we're ready to finish the integration with card issuing and banking provider to start issuing Mastercard Debit Cards to our users.

The Revuto OU company is regulated and licensed (https://www.dnb.nl/en/public-register/information-detail/?registerCode=WFTEG&relationNumber=R188724) to provide such financial products.

• Proven Expertise and Support: The team of industry experts and financial technology specialists (Marko Rukonic, built credit scoring for Intuit, 25 peer-reviewed patents) supported by fintech and crypto advisors (Alex Garcia, ex-Moonpay).
• Proven Track Record: Since the successful ICO in 5/2021, we have released several updates to the Revuto mobile app, integrated with many third-party services, attracted almost !!! 400k registered users worldwide and listed the REVU token on tier-1 exchanges (Kucoin and Gate).
• Strong Community: Our supporters, followers, and token holders (Revutonians) consist of 400k subscribers to the Revuto newsletter, 26k registered users on the Revuto Discord Channel, almost 40K subscribers on Twitter (X), +25k on official Revuto Telegram channels, +10k on medium blog posts, FB, LinkedIn, and YouTube Channel. Revuto also participates in the biggest crypto events and Cardano Summits and has received several crypto awards.
• Presence: Revuto was featured in CoinTelegraph, CoinBerau, Business Insider, Yahoo Finance, and many other popular crypto and fintech-related websites (news portals).

[PROJECT MILESTONES] What are the key milestones you need to achieve in order to complete your project successfully?

New Product Designs and External Platform Integration

Duration: max one month

Outputs: 

• Front-end design (FIGMA) and new UX integration
• New backend design
• Integration with Card issuing and banking provider (partner)
• Integration with Fireblocks for the custodial setup (fast card top-up)

Acceptance criteria: 

• UI designs in Figma are completed
• The discovery phase of the external API documentation is completed
• The compliance and KYB from card issuing and banking providers is completed

Evidence of milestone completion:

• We will provide Figma (UIX) design and access to mobile apps (TestFligh, .apk)
• Bi-weekly development reports
• invoices

The flow of funds, Card Issuing, crypto-wallet implementation, and new Product Testing

Duration: max one month

Outputs: 

• Issuing Virtual Debit Cards to users within EEA and the UK
• Debit Card top-up with Cardano Native tokens from partnering projects
• Operational custodial wallet supporting Cardano Native Tokens

Acceptance criteria: 

• AML check-ups, transaction monitoring, KYC, fraud detection and prevention
• Bank account creation, settlement accounts, and acquiring

Evidence of milestone completion: 

• Released a new app updated supporting Debit Cards
• Top-up Debit Cards with FIAT (storing top-up debit/credit cards)
• Top-up Debit Cards with Crypto (CNTs)
• Bi-weekly development reports
• Invoices

Official Product Launch, Growth strategies and incentives, Closing Reports

Duration: max one month

Outputs: 

• Release of mobile app v4 with Debit Cards supporting CNTs enabled
• Premium account enabled (kickstarting the $REVU token economy)
• Service announcement and promotion
• Final Report and video about the product in production.

Acceptance criteria: 

• Revuto v4 supporting debit cards and CNTs is live
• Revuto custodial wallet supporting CNTs is live

Evidence of milestone completion: 

• Revuto will provide links to the latest mobile apps (Appstore and Google Play)
• Links to paid promo, invoices
• User feedback and Report on successful payments and payment management

[RESOURCES] Who is in the project team and what are their roles?

https://www.linkedin.com/company/revuto/

Revuto Team:

Marko Rukonic (Rux) - CTO

Dorijan Jelincic - Lead Backend Dev

Tin Blaga - Business Dev

Dani Loga - Marketing

Sanja Zeljkovic - MLRO

Mestar - Community Mng.

Tomislav Lazar - Android Dev

Luka Finderle - iOS Dev

Matija Tusek - Backend Dev

Josip Baketaric - Backend Dev

Marin Viskovic - Backend Dev

Robert Smolcic - Backend Dev

Vedran Vukman | Revuto | CEO & Co-founder

LinkedIn: https://www.linkedin.com/in/vedranvukman/

X: https://twitter.com/v_vukman

Serial entrepreneur and Investor in fintech and Web3 projects. Started several companies in Silicon Valley. Passionate about crypto. Advisor at GeniusX accelerator on Cardano, member of RWA Cardano Alliance, and member of UBIK for promoting Web3 in Croatia.

Marko Rukonic | Revuto| CTO & Co-founder

For the last twenty years, Marko has been a software and AI engineer at Intuit and the author of 27 peer-reviewed patents in the financial industry. With his team, Marko beat FICOs’ credit scoring and was later used by Credit Karma. Faculty of Electrical Engineering at the University of Zagreb.

Dorijan Jelincic | Revuto | Lead Backend Dev

LinkedIn: https://www.linkedin.com/in/dorijan-jelin%C4%8Di%C4%87-099b6725/

Full-stack software developer (DevOps, Ruby On Rails, MySQL, blockchain), dipl. Ing. Automatics, University of Zagreb. Passionate about building on blockchain (built a decentralized exchange and a crypto wallet).

Tin Blaga | Revuto| Business Dev

LinkedIn: https://www.linkedin.com/in/tin-blaga/

Tin started as a community manager in Revuto, was promoted to customer service manager, later acquired by Binance, and worked in their customer support. This year, Tin returned to Revuto as a business developer to help the company grow.

Daniela Loga | Revuto | Marketing

LinkedIn: https://www.linkedin.com/in/dloga/

Dani is a highly experienced international media, communications, business, and economy specialist. A native of Silicon Beach and proud alumna of both UCLA (BA: Slavic Languages and Literatures) and St. Petersburg State University (MA: International Relations) with an interest in and commitment to fast-paced projects and output as well as a fine eye for detail and understanding of market dynamics.

Tomislav Lazar | Morgan Code | Contractor

Android developer

Luka Finderle | Async Labs| Contractor

iOS developer

Matija Tusek | 3mi-lab | Contractor

Project manager

Josipa Baketaric | 3mi-lab | Contractor

Backend Developer

Marin Viskovic | 3mi-lab | Contractor

Backend Developer

Robert Smolcic | 3mi-lab | Contractor

Backend Developer

[BUDGET & COSTS] Please provide a cost breakdown of the proposed work and resources

Milestone 1

197,000 ADA

Mobile app (UI) Designer: 15 days x $400/day = $6,000

Project Manager: 20 days x $480/day = $9,600

Backend Development: 20 days, two devs x $480/day = $19,200

Frontend Development: 20 days, two devs x $480/day = $19,200

Fireblocks contract (quarterly retainer) and integration support = $15,000

Fireblocks raw signing for Cardano Native Tokens (premium feature) = $8,000

Linkcy card issuer and acquirer (integration plus monthly retainer) = $10,000

Total = $87,000

Milestone 2

133,000 ADA

Project Manager: 20 days x $480/day = $9,600

Backend Development: 20 days, two devs x $480/day = $19,200

Frontend Development: 20 days, two devs x $480/day = $19,200

Q&A tester: 2 days, $450/day = $900

Linkcy card issuer and acquirer (integration plus monthly retainer) = $10,000

Total = $58,900

Milestone 3:

50,000 ADA

Paid promo: Press releases, promo packages 2x $15,000 = $10,000

KOLs: announcements and product promotion = $7,000

Cardano Influencers and other promo/growth activities = $5,000

Total = $22,000

[VALUE FOR MONEY] How does the cost of the project represent value for money for the Cardano ecosystem?

Since h2 2021, Revuto has spent more than $6m on developing products on Cardano. At the time, only listings on Kucoin, Gate, and Bitmart (without market making and liquidity provision) cost us $1,050,000, which made $REVU one of the first Cardano Native tokens listed on tier-1 centralized exchanges. Besides product development, business and marketing activities, token listings, and hiring, Revuto spent funds on incentivizing users to stay with Cardano by rewarding them in other Cardano Native tokens by investing (purchasing tones) in those Projects.

By successfully launching a debit card program (Mastercard) supporting Cardano tokens for payments and introducing the feature to more than 150k registered and eligible Revuto users to use the product, there's no doubt we'll bring exposure to Cardano blockchain and its projects. More importantly, Revuto will continue to partner with other Cardano projects and cross-promote their services and tokens to boost Cardano's presence among eligible users for the debit card program. In short, with this funding, Revuto will undoubtedly grow Cardano's adoption among people.