Last updated 2 months ago
Cardano needs to realize real world adoption to achieve long-term ecosystem sustainability. This initiative will proliferate Cardano payment support and visibility into existing vending machines.
DripDropz is collaborating with Remarc Vending to enable their existing fleet of thousands of vending machines to accept cryptocurrency payments. This proposal brings real world adoption to Caradno
This is the total amount allocated to Real World Adoption: Cardano Payments in Vending Machines.
NB: Monthly reporting was deprecated from January 2024 and replaced fully by the Milestones Program framework. Learn more here
Please provide your proposal title
Real World Adoption: Cardano Payments in Vending Machines
Enter the amount of funding you are requesting in ADA
750000
Please specify how many months you expect your project to last
12
Please indicate if your proposal has been auto-translated
No
Original Language
en
What is the problem you want to solve?
Cardano needs to realize real world adoption to achieve long-term ecosystem sustainability. This initiative will proliferate Cardano payment support and visibility into existing vending machines.
Does your project have any dependencies on other organizations, technical or otherwise?
No
Describe any dependencies or write 'No dependencies'
No dependancies
Will your project's outputs be fully open source?
No
License and Additional Information
While the project will indeed leverage open source solutions for the Cardano payment integration, all development work will be addressed prior to any funds associated with this proposal being released.
Please choose the most relevant theme and tag related to the outcomes of your proposal
Marketplace
Describe your established collaborations.
DripDropz has an existing active MOU with Remarc Vending with a stated purpose "to outline the mutual understanding and intentions of the Parties to collaborate in the development and integration of cryptocurrency software ot be used within Remarc's customized OMNI Series vending machines."
Describe funding commitments.
No funding commitments have been made. Our MOU with Remarc states they would estimate costs for successful integration and deployment to be $250k, subject to refinement.
This proposal will outline release of funds based strictly on adoption performance. We expect the split to approximate 30/70 with 30% being allocated to DripDropz and 70% allocated to Remarc
Describe your key performance metrics.
Immediate KPIs:
Mid-to-Long-Term KPIs:
Please describe your proposed solution and how it addresses the problem
DripDropz has cryptocurrency payment API solutions and Remarc has vending machines and a lot of customers.
Having thousands of existing vending machines already deployed, Remarc is well-positioned to engage an already-existing customer base of business owners with the option to seamlessly enable their vending machines to begin accepting Bitcoin and Cardano payments.
In joining forces, Remarc and DripDropz are positioned to proliferate acceptance of Bitcoin and Cardano payments at scale while onboarding users to Cardano.
This proposal aims to achieve a direct path to Cardano adoption, while also testing and identifying paths to scale impact of delivery. The proposal milestones will rely specifically on meaningful and measurable KPIs and metrics relevant to adoption, in a manner such that ROI to the Cardano ecosystem will be guaranteed.
All development efforts required to enabling Cardano payments solutions have been underway, will be performed outside the scope of this proposal, and will have been completed and deployed prior to any proposal funds being released.
In addition to enabling direct adoption, this proposal will also test incentivizing vending machine owners advertising Cardano and the relevant impact of various onboarding marketing strategies.
Please define the positive impact your project will have on the wider Cardano community
The impact of this real-world payments integration initiative is that it will deliver strategic product-market-fit for Cardano by enabling immediate esposure to existing customer channels while directly feeding real-world demand and adoption.
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?
DripDropz is an expert in Cardano technologies, and the Mainstreet initiative provided the DripDropz team the expertise and capability to deploy real world payment solutions for cryptocurrencies.
Also, Cardano L2s are maturing to the point of enabling Cardano viability for point-of-sale payments. DropDropz recently utlized one of Remarc's vending machines at Rare Evo in Las Vegas to (very successfully) demonstrate a real-world payments application utlizing Hydra and vending machines.
Remarc Vending was established in 2007, and has witnessed the evolution from coin-operated to mobile payment systems, and has seen first-hand the need for adaptable vending solutions, and thus is both well-established and open to enabling cryptocurrency payments in their machines.
Milestone Title
Pre-Deployment Preparations
Milestone Outputs
Remarc and DripDropz will collaborate on preparing educational content and funnel aligned to convert existing Remarc customers interested in adding support for cryptocurrency payments into their vending machines
Acceptance Criteria
DripDropz will prepare documentation and funnels specific to onboarding existing Remarc customers to support cryptocurrency payments.
DripDropz will prepare onboarding documentation, video guides and a web funnel to educate and onboard vending machine owners opting to support cryptocurrency payments.
Evidence of Completion
DripDropz and Remarc will document and inventory all acceptance criteria outputs in a publicly accessible folder.
Delivery Month
2
Cost
150000
Progress
20 %
Milestone Title
Initial Deployment
Milestone Outputs
DripDropz and Remarc will launch the existing campaigns to onboard vending machine owners interested in accepting cryptocurrency
The output will be real world vending machines accepting Cardano as payment.
Acceptance Criteria
The Target KPI for completion of this milestone will be adoption - DripDropz and Remarc will attempt to achieve onboarding at least x10 owners to accept cryptocurrency in no less than x50 vending machines
Evidence of Completion
DripDropz and Remarc will document and inventory evidence of acceptance criteria outputs in a publicly accessible folder. This information will include the number of active machines and owners successfully onboarded with their general geographic location.
Delivery Month
4
Cost
150000
Progress
40 %
Milestone Title
Expanded Deployment
Milestone Outputs
Remarc and DripDropz will collaborate to derive and execute various strategic incentive tests to identify techniques to scale adoption. These might include incentive customer discounts on vending hardware, incentives for supporting perpetual Cardano advertising on machine displays, discounted rates to vending machine owners, or align strategic incentives geared to convert specific customers.
The output will be more vending machines accepting Cardano as payment.
Acceptance Criteria
Remarc and DripDropz will report upon the market adoption tests executed and current adoption progress metrics.
The Target KPI for completion of this milestone will be adoption - DripDropz and Remarc will attempt to achieve onboarding at least x25 owners to accept cryptocurrency in no less than x100 vending machines
Evidence of Completion
DripDropz and Remarc will document and inventory evidence of acceptance criteria outputs in a publicly accessible folder. This information will include the number of active machines and owners successfully onboarded, evidenced by transaction volume with their general geographic location.
Delivery Month
6
Cost
150000
Progress
60 %
Milestone Title
Performance-based Expanded Deployment
Milestone Outputs
Remarc and DripDropz will continue to execute on strategies found effective while also collaborate on new strategies to facilitate adoption. The output will be more vending machines accepting Cardano as payment.
Acceptance Criteria
The Target KPI for completion of this milestone will be adoption - DripDropz and Remarc will attempt to achieve onboarding at least x50 owners to accept cryptocurrency in no less than x250 vending machines
Evidence of Completion
DripDropz and Remarc will document evidence of acceptance criteria outputs in a publicly accessible folder. This information will include the number of active machines and owners successfully onboarded, evidenced by transaction data with their general geographic location.
Delivery Month
8
Cost
150000
Progress
80 %
Milestone Title
Performance-based Expanded Deployment
Milestone Outputs
Remarc and DripDropz will continue to execute on strategies found effective while also collaborate on new strategies to facilitate adoption. The output will be more vending machines accepting Cardano as payment.
Acceptance Criteria
The Target KPI for completion of this milestone will be adoption - DripDropz and Remarc will attempt to achieve onboarding at least x100 owners to accept cryptocurrency in no less than x500 vending machines
Evidence of Completion
DripDropz and Remarc will document evidence of acceptance criteria outputs in a publicly accessible folder. This information will include the number of active machines and owners successfully onboarded, evidenced by transaction data with their general geographic location.
Delivery Month
10
Cost
150000
Progress
100 %
Please provide a cost breakdown of the proposed work and resources
customer onboarding incentives and initiatives - 525k Ada
web funnels and efforts for customer conversions - 75k Ada
educational content documentation - 50k Ada
educational content videos - 50k Ada
contingency to hit adoption metrics - 50k Ada
How does the cost of the project represent value for the Cardano ecosystem?
This initiative proves a real-world use case for Cardano and payments. Increasing revenue from transacton volume is absolutely critical to Cardano ecosystem sustainability and this proposal strikes at the heart of adoption
Terms and Conditions:
Yes
Kyle Solomon - DripDropz - market strategy and SME for educational content
Chris Hockaday - DripDropz - educational content SME
DripDropz tech team (building payment solutions outside scope of this proposal)
Jeffery Cramer - President Remarc Vending, authorized MOU with DripDropz
Remarc Sales and Tech teams - ensure proper integration and customer exposure