Venly is going to be a useful bridge between Web2 and Web3 development. the wallet is centralized by design which is a concern. I did a deeper dive of Venly’s solutions, architecture, this proposal and use cases, and also the Vulcan Forged issue back in December.
The structure of the ask of €500K Euros with annual €75k maintenance fees remind me of major SaaS deployments in the enterprise space, similar to a SalesForce integration in a Fortune 500 / FTSE 100 company. We are not yet in a billion dollar revenue per annum organization purchasing tens of millions of dollars of SAP/CRM tooling
A lot of trust is going into this with little to no recourse. It looks like upon integration, developers will still be asked to pay a monthly subscription fee to deploy using Venly, which is a friction point to developers
Ideating here, on enhancing the proposal:
1/ can we commit the first €100K to Venly as an investment?
2/ assuming we can invest, we would like to break out the rest of the integration cost by having milestones to hit before funds are released. this introduces accountability and injects incentives for proactive co-operation. an example of the first milestone could look like “100 paying developers signed up to use Venly and launched on mainnet, with 100K total registered user accounts”. Upon hitting this milestone, we release €50K, with doubling metrics each time a total of €250K is released (100/250/500/1000/2000 devs, with 100K, 250K, 500K, 1M, 2M registered wallets)
3/ to reduce friction points, each Harmony project we’d like to allow a 6-month free trial for all dev’s launching on Harmony using Venly, to help them familiarize with Venly, build, deploy and gain revenue before having to start paying off their rev shares, and encourage Web2 builders to integrate on Harmony
4/ by the time it ramps up, it should be self sustaining, hence I’d propose to eliminate the annual maintenance cost of €75k. we can start measuring this 6 months from launch to measure that we hit certain user adoption metrics (e.g. €2M NFT market transactions + 200 paid Pro wallet plans, each year), and if that doesn’t match up to €75k, Harmony can fund the difference annually for a 2 year commitment.
This presents both a performance-based proposal and a structured cooperative approach. Harmony is an EVM compatible chain. Since Venly is already launched on BSC, Polygon, Avalanche, it’s really not too much of an effort to launch on Harmony.
Happy to discuss further.
to have the Harmony community participate to ask questions and provide feedbacks.