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by debt 1670 days ago
The most fascinating part was that they raised $45mm in seven days from people from all over the world using really nothing but solidity contracts on the ethereum blockchain(no complicated PayPal integration, or Stripe etc., no web hooks or callbacks or AWS lambdas etc)

https://github.com/jbx-protocol/juice-contracts
3 comments
seanhunter 1670 days ago
Take a look at any of the defi providers and you'll see that there is a lot of money floating around in pure crypto payment infrastructure. If you're not in the defi world, you could pick https://curve.fi as a good example because you might have heard of uniswap but probably haven't heard of curve. I see on their website that the weekly volume of deposits and withdrawals to their liquidity pools is $7bn. All done on solidity, no direct payments infrastructure at all. If you looked at any of the others (aave, balancer, yearn) you would mostly see a similar story. People who onramp and offramp to fiat currencies and therefore handle real money are actually in the minority.

As a tangential aside we wanted to be able to handle crypto and real money payments for something so actually used stripe for credit cards and "coinbase commerce" who offer a stripe-like slick checkout experience and api for accepting crypto payments. The only real downside to the coinbase checkout that we've found is that the blockchains take long enough to accept transactions and the price fluctuates enough that you constantly get people under or overpaying by very small amounts that are expensive to deal with. Still not sure what if anything to do to elegantly handle this.

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meheleventyone 1670 days ago
Did they actually hold $45 million or was it the equivalent in ETH? My understanding at least is it would be hard to turn large amount of ETH into dollars without taking a chunk out of the worth of ETH.
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spky333 1670 days ago
you can pretty easily buy and sell that much otc with any of the big exchanges. happens every day.
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meheleventyone 1669 days ago
As much as I'd like to take your word on that you'll need to offer something more to actually demonstrate it's true as there is other speculation here it caused a dip and I have no idea which of you is correct.

I get the daily trading volume of ETH itself is large but don't see ready statistics for ETH->USD.

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arcticbull 1670 days ago
Maybe a nice GoFundMe.
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