Thanks for your positive comments MisterHype.
Great to see everyone supporting this idea. In which an extensive AIP will be submitted in the coming days. Thanks for your support
4 Likes
Absolutely love this concept!! Would use mine every day…
Nice thinking on this Jason!!!
AC
3 Likes
I think it’s an excellent idea … in legislative terms, would it be accessible to everyone in the world?
Will the fees be the same everywhere?
Otherwise I’m excited about the idea of being able to spend my ApeCoins via a credit card … and especially to be able to attract new owners of the currency
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Great idea, love the thinking behind it.
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Love the initiative & ambition here. We need more AIPs like this that enable the use of $APE upon successful implementation, not just to get to implementation.
Would it be possible that this credit card also include $APE rewards based on purchase activity? That would greatly incentivize me to subscribe & I think many others as well.
3 Likes
This is exactly the intention.
Spending $ape is nothing new.
But being exclusive spending $ape receiving exclusive items, discount and privileges.
This shall create desire of $ape and drive its value
Thanks allcity for your support.
Excellent idea. Questions:
- Residence located in which jurisdictions could apply to get one?
- If we have KYC this is by a third party so we can keep separate from our “known wallets” as in essence a wallet address will link to fund the account.
- How does the settlement work to pay off the credit card?
Having an option to repay your spending in your desire tokens. Eg $ape , 7 days later
We have to deposit some APE in a custodial wallet? - If we have to deposit funds in a custodial wallet, could we have our voting rights retained for snapshot?
3 Likes
I still don’t get why it’s a credit instead or a debit (even as a pre-load) card, Jason. Care to shed some light on that?
As a credit card gives the user the flexibility to repay in the crypto they desire in a timeframe. (Eg. 7days) It’s serves as a LTV from the crypto deposit.
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Right. But credit cards require user applications (KYC) and approval for credit.
Hi @JasonJape ,
Your topic will be moving to the AIP Draft phase in less than 24 hours. Are you content with the feedback received or do you wish to extend community discussion for another 7 days?
If we do not hear from you within 48 hours after your topic closes, your topic will be moved straight to the AIP Draft process.
We look forward to hearing from you.
Banks also require KYC for a debit card.
Is it a pure credit card or do we need to lock APE in a contact so although called a credit card it actually has the APE locked so not actually giving you credit?
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Great idea for real! This would be really useful in WEB3 and IRL.
Yes. But my point was that both are needed.
Debit: KYC
Credit: KYC + approval for credit
That doesn’t answer my question. Also, you can do the same thing with a debit card without taking on debt.
And you do need to explain how this would actually work from start to finish because issuing a card isn’t a simple thing.
e.g.
- what FinCen bank (you said ‘Web3 financial super app’) is going to underwrite this? And are they licensed to offer US banking services
- what HK broker, and are they licensed to offer US banking services?
- who are these ‘licensed partners’ who will be supporting the card?
- in what countries will this be offered?
- what determines the credit limit?
- how is the crypto associated with the card?
- how is the crypto payment conversion handled
2 Likes
This topic was automatically closed after 7 days. New replies are no longer allowed.
Hi @JasonJape ,
Thank you for your ideas [and the ApeCoin DAO community for the insightful discussions]. A moderator will reach out to the author to finalize the AIP Draft using the appropriate template. In accordance with DAO-approved guidelines, if the author doesn’t respond within 30 days, the proposal will be automatically transferred to the Withdrawn category, and the author can re-submit the idea. Once the AIP is Drafted and meets all DAO-approved guidelines, it will be published on Snapshot for the official live voting phase at: Snapshot.
Follow this Topic as further updates will be posted here in the comments. @JasonJape please see your messages for the next steps.
Hi ApeCoin DAO Community,
This Topic has been rejected based on the DAO-approved guidelines due to no response in the last 30 days. The Topic may be submitted again by any user and upon approval, will be open for 7 days for community discussions.
This Topic will move and remain in the Withdrawn AIPs category.