I’ve had some people ask me about “what’s going on with Lootverse/VersaPay?” so I thought I’d add a little update here of what I can share.
We have completed our architecture phase of the VersaPay integration - I’m pretty excited about how we are creating a USDC on/offramp that is super user friendly. The whole idea being to make this not even feel like crypto at all. It’s US dollars → USDC → Lootian Dollars (and the ability to reverse that). No seed phrases, no metamask, no browser extension. But it remains non-custodial and regulatory compliant. This phase took a LOT of analysis but we love where it’s landed.
We’ve successfully completed our first sprint where we’ve done a “proof of concept” on the authentication as well as the UI integration.
We’ve started the UI design in parallel - the focus is again intensely on the user, so I believe our first iteration will be easy to use and intuitive.
On the Lootverse side - I’m really digging what’s coming
VersaPay is the USDC transit rail for Lootverse (for both consumer as well as vendors). There will be a transaction fee associated with using it. Users that hold $BAM will receive a discount on those fees, likely on a sliding scale. So a high volume vendor would be incented to buy and hold $BAM to offset those fees. To the degree the user base grows and volume grows w/in Lootverse, we would expect that to correlate. That will not be built into this release - as we’re focused on delivering an MVP - but it will be designed in this release.
James and I have discussed some other options as well but that’s the first targeted utility for Lootverse/VersaPay/$BAM. We of course would love to see VersaPay integrate with other Metaverses as well (and have corresponding $BAM holding discounts) but one step at a time
Why, yes. Howdy everyone, you have seen me lurking around the different channels. I am a community admin with BAM tg and discord. I am as well the cultural director for Lootverse and work with the core team on building a world that not only showcases innovation but can also bring in cultural depth. Then on top of that i am in the latter stages of my phd candidacy for cultural psychology. This is going to be a fantastic synergistic paradigm shift in the way people interact with the blockchain. I have been holding since day 9 and dca’ing for months now (after my degen phase, that i think we all had). I have been working with the loot team since march helping build out its depth of feel. Intellectual Property especially innovative ip takes time to get right.
Couldn’t be more excited about the future… Adam and his team represent promise, huge promise, for the future of crypto. And I’m beside myself with elation to be a part of this impending paradigm shift. Thank you, Adam, for all you’re doing behind the scenes.
I was wondering similar, also is investing in BAM enough to be invested in all aspects of what bamboo asset management is doing or could I also be investing in something else to diversify like versapay? Just don’t want to miss out on investment opportunities within bamboo asset management.
