(Old version) Nexus: Credit Payments on Terra

New version is here:



Nice one!

So this is really close to my heart and what I think would make a significant difference to customers, merchants, and crypto adoption. In particular it’s what I’ve been thinking about with regard to Terra’s system.

Lets talk to your example of a $3 coffee - small retailers would have something a Square reader or similar integration, which generally charges a % + a $ fee (for example 2.6% + 10c).

All transactional systems in the world today have always succeeded/gained adoption only by only charging money / fees to the person who receives the money.

For example, ebay - person buys, seller gets money + ebay takes their cut. Online merchants are the same - you pay with credit / debit card, you get charged the amount you expect, and the merchant receives that money LESS the gateway fees.

Similarly credit card companies reward the customer, but charge the merchant.

What I’m thinking is that where you need to win in order to provide a great solution, and mass adoption is by providing value++ to both sides.

A consumer - gets a card that gives them rewards, great UX, and ease.
They can deposit in any number of currencies, cryptos, whatever.
The currency conversion would be taken care of by Terra’s protocol, for quick currency conversion.
Deposits/holdings can be rewarded by other dapps (think: anchor).

A merchant - needs to be rewarded with lesser fees for supporting the payment method.
I run various small ecomm sites, and I know that having 2% of my revenue taken for no good reason gives me the sh*ts.
Give me a reliable way to pay only 0.5% max, and I’d really consider it.
And the bigger the merchant the more incentive they would have to use this.
Integrate with Shopify as an alternative payment method and the world’s at your feet.

Tokenomics etc is all solveable - I like to start with a problem, and think about how it can be solved.

The key is to reward the customer. Charge the merchant. But make them win too.

Anyway that’s how I’d tackle it.

Zerg swarm ftw.


This page needs more interaction. Really enjoyed your post on Anchor forum.
Hope you can find some devs and apply for community funding!


Thank you for your support; I thought the post was too difficult to read, and does not follow the easy logical steps; thus I cleaned the doc and posted a new version.

Thank you for your feed back

You are absolutely right to make the both consumer and merchants win-win; and I do agree that in long term, the sustainable model will be charging merchants and rewarding customers. We do plan to indirectly charge merchants by charging higher commission for the yield made on the UST received in comparison to cAsset deposited.

Also at initial phase, I think the key to successful UST adaptation will greatly depend on acquiring a vast pool of merchants to accept UST. Thus, I think more effort should be exerted to incentivize merchants.

For consumers at current stage, combination of yield optimization and spending optimization will be the key incentives (almost like a smart wallet with automated yield optimizing function), and on the payment sector I think the competition that we are trying to match would not be the credit card rewards at this point, but the manual cash-in process from cryptocurrency to fiat. (Nexus will be a easier and cheaper way to use your cryptocurrency in real-life)