Introduction

This is a new Hive proposal which has already started and will pay out 20,000 USD over 4 weeks. This post outlines an the purchased integration between Zypto, a crypto wallet and payment gateway, and the Hive blockchain. The main goal is to significantly expand the utility and reach of Hive assets by allowing them to be used across Zypto's full suite of global financial tools.

What will this Integration between Hive and Zypto achieve?

According to @crimsonclad this integration will integrate HIVE and HBD into the Zypto ecosystem. This integration with Zypto is meant to provide Hive users with more ways to spend their Hive and HBD globally. The integration is also meant to allow Hive users to use the Zypto's financial services.

Key Features

• Zypto's Core Offering: An all-in-one crypto wallet app and crypto payment gateway designed for everyday life and business.

• Co-Founders: Joe Parkin & Zyptologist.

• Official Hive Accounts: @zypto (communications), @zyptopay, @zyptoapp (funding recipient/app integration).

Integration Proposal Overview

• Expanded Financial Options for Hive Users:

The primary goal is to create new place on a cryptocurrency financial platform for Hive users to use and invest HIVE and HBD.

• Full HIVE and HBD Integration:

HIVE and HBD will be fully integrated into the Zypto Crypto Wallet App, Zypto Payment Gateway, and Zypto Card and Product Markets.

• Decentralized Custodial System:

Zypto plans to build a decentralized custodial system to accept HIVE and HBD as payment across its product suite.

Zypto Product Suite & Hive Integration Points

• Direct Fund Management: Users will be able to buy, sell, and swap

HIVE and HBD directly within the Zypto app.

• Crypto Cards: Use HIVE and HBD to load both virtual and physical prepaid crypto cards.

  • Reloadable and non-reloadable options will be available, with varying KYC requirements.

  • Current card fees are stated to be 3.5% (noting confusion about an older, higher-fee white-label product).

• Direct Bill Payments: Pay bills directly in 10 countries, with options for recurring payments, using HIVE and HBD.

• Future Product Expansion: As Zypto expands its offerings, Hive will be integrated into new products.

• Co-Marketing & Social Integration: Plans include exploring more social and technical integrations, along with co-marketing activities across various social media platforms.

Budget & Roadmap Overview

• Approximate Roadmapping: Approximately 6 weeks for initial integration, with two engineers assigned.

• Preliminary Features (Frontend & Backend):

  • Backend infrastructure to connect to Hive RPCs for blockchain data.

  • Frontend functionality for Send, Receive, Swap, and Buy (with Sell potentially coming before or after).

• Custodial Service Build-Out:

Enable the use of HIVE/HBD to purchase and load Zypto VISA Cards, pay bills, purchase prepaid cards, buy vault key cards, and other future products.

• Testing & Go-Live: Internal QA, Internal Acceptance, External Beta Testing, Go-Live, and Marketing.

• Total Budget Requested: $20,000 HBD, paid out over 4 weeks.

• Funding Utilization: Funds will cover developer costs (to prioritize Hive integration), subsequent maintenance, marketing, and activation activities.
  A portion will be powered up to Zypto's exchange accounts for transaction coverage and social rewarding.

• Post-Funding Commitment: A
  fter the initial funding period, Zypto will assume the financial responsibility for maintaining the Hive integration.

• Transparency:
  Updates on roadmap completion will be posted to the @zypto account.

Clarifications on Common Questions

• Self-Custody: Zypto App is primarily a DeFi wallet. User funds remain on-chain (self-custodied) until they choose to send them to Zypto to pay for specific products (like cards or bill payments).

• Card Fees: The fees for the cards directly in the app are 3.5%, clarifying that a previously circulated higher fee graphic was for a separate white-label product.

• Funding Use: Funds are for development, subsequent maintenance, marketing, and ensuring that both Hive users use Zypto, and Zypto users get to know Hive.

That's what I know so far, exciting news, lets see what happens next.

The End

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