In this update we talk about the imminent credit card integration and what it means. We release the CanYa Decentralisation Paper, and more…

What’s happened since the last update?

In the last update we introduced plans to accept credit card payments into the CanWork.io freelance marketplace. This consumed most of the March development output. The integration was successful and is now ready for internal testing.

Additionally, the team:

Continued to maintain and support CanWork.io

Introduced a ‘Job Cancel/Delete’ function which allows clients to remove job posts from the job board & management pages.

function which allows clients to remove job posts from the job board & management pages. Re-directed traffic from CanYa.io to CanWork. The idea is to push more people to the platform. The information about the project will feature as an ‘about’ section on CanWork.

The idea is to push more people to the platform. The information about the project will feature as an ‘about’ section on CanWork. Finalised the decentralisation whitepaper.

Credit Card Integration with LimePay

CanYa worked closely with the awesome team at LimePay to allow credit cards to seemlessly interact with the CanWork smart contract — making it the first dApp to launch with direct credit card integration.

All you need is a credit card!

LimePay.io is a SaaS platform that enables end-users to freely execute transactions for decentralised applications (dApps) with fiat money.

No need for user registration or creating an external crypto wallet. Clients use their credit card normally. LimePay takes care of the rest!

How does it work?

User pays with credit card — Simple!

In the background:

A browser wallet is generated for the user

Cash (as DAI stablecoin) is remitted to a CanYa merchant account

The CanWork backend sees successful payment and prepares two transactions:

1) $CAN from CanYa liquidity -> newly-generated User Browser Wallet

2) $CAN from User Browser Wallet -> Escrow smart contract

Job flow commences on CanWork

Why is this important?

Adoption.

One of the problems with adoption of decentralised apps is the admissions barrier. Usually this involves complicated steps which takes users away from the platform and impedes conversions.

With in-built credit card facilities, there is no need to leave the platform. No need to buy native tokens, register with crypto exchanges, download cryptocurrency wallets or dApp browsers like Metamask.

Jobs for freelancers

Credit card payments will help us steal market share off fiat competitiors. CanWork already has hundreds of talented Providers ready to accept cryptocurrency for digital services using a simple wallet. However, there is still too much friction for individuals and businesses who want to pay for freelance jobs.

CanYa tokenomics

Limepay is a big deal because it is converting fresh money into CAN. Any job booked via credit card will buy $CAN off the market to move into the Hedged Escrow (automatically).

So, while the Clients won’t physically have to buy the token, $CAN is still critical because it feeds the escrow smart contract. This buying side pressure aligns nicely with our token economic model.

When live?

The LimePay integration is set for launch in May. Until then, the team will rigorously test the process to identify & resolve any bugs, edge cases or user issues. We will also develop user guides, promotions and marketing material.

CanYa Decentralisation Paper

CanYa is excited to release the Decentralisation Paper — The path to useable decentralisation with the DAO, a decentralised liquidity network and DappNodes.

It is in final stages and the community can expect a full release and announcement in the next few days. Below are some interesting extracts from the paper.

CanYaDAO

The CanYA DAO (decentralised autonomous organisation) is the socially scalable part of the ecosystem, allowing it to scale globally in a sustainable way. The CanYaDAO also serves as a treasury, maintenance body and governance mechanism.

CanSwap

CanSwap uses Ethereum-based continuous liquidity pools to allow on-chain conversions of tokens and ether into and out of CAN. The continuous liquidity pools are permissionless; anyone can add or remove liquidity and anyone can use the pools to convert between assets.

DappNodes

DappNodes, a theoretical layer 2 solution, are nodes that could host services for the CanYa ecosystem, such as Ethereum, IPFS, decentralised datastores, decentralised exchange nodes, and a user interface. Tightly coupled with an incentivisation layer, DappNodes could be paid for their services from the DAO Fund:

“We are developing a robust plan to shift the project and its incentives to the community and accelerate decentralisation. This will provide measurable benefit to the project and allow the large amount of funds in the CanYaDAO Fund to be unlocked and paid to the community” — JP Thor, CanYa founder.

The path to decentralisation

The paper outlines the path to a decentralised ecosystem, the mechanisms and platform options and we are excited to get stuck into these plans.

CanYa aims to finish the Limepay integration and spend some time promoting and getting a strong base of users before experimenting with more decentralisation features. Stay tuned.

A quick update on the token swap

Early in the year we announced plans to to upgrade the $CAN token from ERC-20 to ERC-777 — the ‘future token standard’ . Benefits include better smart contract handling and improved user experience.

This new token standard required ERC-1820 (formerly ERC-820) which is an on-chain registrar of smart contracts that declare what they are, so other smart contracts know how to talk to them. This has only just been released on mainnet a week ago.

Augur, the decentralised oracle prediction market, has recently upgraded to the new token standard and we will wait to see how it goes.

CanYa is leaning closer to the swap to ERC-777.

CanWork User Stats

Marketing and Community

The focus for March & April is to clean up provider profiles and onboard a quorum of quality freelancers prior to the client / job side focus post LimePay integration.

We have seen a continual stream of applications mainly from Facebook marketing. This month’s competition should also help with this process. If you haven’t already take a look and submit an entry, the prize pool is 5 ETH!

We also started our Provider of the Month feature. Here we will be sharing the best of our freelancers across all of our social media platforms and encouraging them to do the same. This month’s POTM was Ray from Venezuela who has completed a number of stunning images on the platform.

Additionally, the team has been working hard on creating a number of intuitive user guides to help with user on-boarding. These will be hosted on the CanWork page and also emailed out to our providers as part of their welcome email:

Next month our focus will be promoting the LimePay integration across the dApp / freelancer space. Following this the team will be focussing most of its efforts in improving the job & client throughput to the platform.

More jobs means the following:

Happier freelancers

More freelancers (and word of mouth exposure)

$CAN token buy pressure

More data and education for how the DAO will need to be set up to deal with handling users and jobs on the platform

Join the Telegram channel.

Come join the CanYa Telegram Channel for updates, discussions and general chat about CanYa and Cryptofreelancing.

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