GetPaid

A community based wallet that provides global digital opportunities to earn, trade, learn and connect for creators, traders and freelancers in Africa.
$
185,000
worth of XLM on the day of pay-out*
worth of XLM on the day after voting*
Website
Wallet
Financial Inclusion
Community
Candidate:
SCF #9
SCF #10
Winner:
SCF #9

GetPaid is a community based wallet that provides creators, traders and freelancers in Africa access to opportunities in the global digital economy through connecting, learning and earning. The budget we are requesting is to become the preferred wallet of choice for African users on freelancing, gaming, e-commerce / NFT, airdrop, yield earning and bounty hunting marketplace platforms.

In operation since

Early 2021

Based In

Kenya, Rwanda and Tanzania

Stage

Growth

Products & Services

GetPaid is a marketplace and community platform that connects creators, traders, and freelancers in Africa with global digital opportunities. The GetPaid platform exists out of a community platform and wallet app to receive and withdraw funds to mobile money/banks in Kenya, Rwanda and Tanzania as well as blockchain payments in USDc and XLM.


With the previous application, we requested a budget to scale our product and reach more creators, traders, freelancers in Africa. Five months ahead we are heading towards the right direction and have the following update on our goals:


Goal 1: Grow the GetPaid community and encourage collaboration → over 7000 people applied for gigs, nearly 1250 users signed up and there are over 600 members in the community platform.

Goal 2: Open up access to participate in the NFTs economy → We have been actively promoting Litemint to our community and how to mint and trade a NFT.

Goal 3: Research and implement additional features and tools that could be useful to GetPaid users. → We implemented a digital course selling feature for experts within our community to sell digital courses to fellow community members in need of knowledge.

Goal 4: Support access to additional tokens → USDc went live, in addition we also support various payin methods (SEPA, card and other blockchains such as Ethereum) for USDc

Goal 5: Reach 5 million USD sales by Q2 2022 → With one month to go we are on our way to tick this goal off as well.


While ticking off our goals and working closely with our users, we noticed that (digital) opportunities to earn, are broader than just gigs (small / short jobs) and NFTs, our initial focus. There are also opportunities in medium and long term freelancing, gaming, e-commerce / NFT, airdrop, yield earning, bounty hunting etc. There are many existing platforms providing those types of opportunities, however a survey among our users showed that they are either not aware of the existence of these platforms or they have used these platforms and lacked good payouts options for people in Africa.


We had the following takeaways:

  1. We should not limit ourself to just gigs and take a broader approach in pushing digital opportunities to our community. However a broader approach loses focus. This made us rethink our approach and we came to the conclusion that instead of attracting gig providers ourselves, as we did previously with the focus on gigs, we should rather curate a broader range of opportunities from existing platforms.
  2. To become the preferred wallet of choice for payouts to African users on these platforms.


Both fit well in GetPaid current product proposition and gives creators, traders and freelancers even more access to global opportunities and financial inclusion in the global digital economy. Both solutions go well together, sharing opportunities can be an incentive for platforms that enable payouts to our wallet, as it creates extra traffic to their platform.


Essentially our overal goal is having more freelancing, gaming, e-commerce / NFT, yield earning, airdrops and bounty hunting platforms support a Stellar network connection which can be used for payouts/payins and interoperability. This will benefit not only GetPaid, but the entire Stellar network. We identified the following technology that helps these platforms to enable a connection with the Stellar network:


  • Direct integration: Stellar Wallet SDK and Stellar SEP standards
  • Connectors: WalletConnect
  • Fiat: SEPA / ACH payins


Part of these platforms are supporting crypto payouts already. This is already usable and beneficial, GetPaid is set up to receive these payouts by having XLM and USDc as assets in the GetPaid app. However a large part of those platforms are not supporting any of the above, meaning there are no or limited payouts options for African users. This part of the platforms we are looking to target and therefore we are requesting funding.

No items found.

Previous submission

What's new?

The previous application we submitted was all about building the GetPaid platform out, which we achieved, and attracting more customers. Since then we made the following product additions:


USDc with fiat and crypto payin/payout methods - The app launched with XLM, since then also USDc is added allowing users to receive / send / hold / buy / sell USDc in their GetPaid account.


New Community platform - We have launched a new community platform where members can connect, socialize, talk and have discussion. They can also find more information about the platform / app, upcoming events, announcements, and various learning and earning opportunities.


Opportunities beyond gigs - GetPaid initially focused only on gigs, short-term jobs. However we noticed that it is not only gigs, there are many other ways to earn for example medium and long term jobs, competitions, yields, airdrops. Therefore we have expanded beyond gigs, included the above as well and called it Earn opportunities.


Courses - Many freelancers, creators and traders were not only interested in earning, they were also interested in learning. Due to larger demand than we initially anticipated we expanded our efforts in this area and started actively targeting experts in our community to step up and provide (un)paid courses in our community channel to fellow community members.

Goal & Budget

Goal 1: Become a payout option for 100 platforms - By the end of this year GetPaid should become a payout option for at least a 100 platforms.

We are looking to achieve this documenting and simplifying the options to connect to the Stellar network and approaching these platforms by direct sales / business development. We shortlisted already a list of 250 platforms. We estimated that about 40% out of those 250 platforms is interested in connecting to the Stellar network and use GetPaid as a payout option.

Goal 2: Connect 2500 users with opportunities - Connecting with platforms gives our users more opportunities.

With increase the number of opportunities available to our community, the more opportunities to earn are provided to the community.


Goal 3: Reach $20 million sales Q4 2022 - Reaching the goals above enables us to grow our revenue

We have estimated that by reaching the two goals above end Q4 we can hit a total $20 million in sales, which is equivalent to the transaction value existing out of deposits, withdrawal and trades on the GetPaid platform.

Steps to get there

We identified two areas that help to accomplish our goals:


Direct sales / Business development - To reach our goal to connect to platforms, we need to drive adoption of Stellar network integrations among platform to enable payouts to the GetPaid wallet. Necessary resources for this are business developers / sales personnel.


Development / Integration - To connect it is key for these platforms to have the necessary infrastructure in place. Direct integration through Stellar Wallet SDK and Stellar SEP standards, Connectors: WalletConnect or fiat through SEPA / ACH payouts. In addition it is key to bring the technology under attention and simplify documentation where needed. Necessary recourses for this is personnel to ensure smooth integrations for platforms and provide technical support where needed.

Our Request

To achieve our goals we are requesting a budget of 185,000 USD. The requested budget is divided over our 2 key areas:

  • Direct Sales / Business Development - 125,000 USD
  • Development / Integration - 60,000 USD

Progress so far

GetPaid has been in production since early 2021, since then GetPaid reached over 10,000 people through gigs, our community channel and app. We are active in the East African countries Kenya, Rwanda and Tanzania.


GetPaid Wallet

The GetPaid wallet is a web-based application that allows freelancers, creators and traders to earn. They can access services such as; receive payment in the form of cryptocurrency and fiat from all over the world as well as trade with crypto exchanges, whereby users are able to exchange cryptocurrencies for TZS in Tanzania, RWF in Rwanda, and KES in Kenya.


GetPaid Community Platform

This is our own community platform and a Telegram group for conversation. Through the community platform, community members will be able to get access opportunities in two fields: earning opportunities (e.g  gigs, cryptocurrency, airdrops, competitions, yield options, etc) and learning opportunities (e.g. scholarships and courses). Community members can also connect, discuss and have conversations through our Telegram channel. The GetPaid Telegram channel has over 600 active members and is a place for sharing quick updates and connecting among GetPaid community members.


Events

We hosted many online events in the last 6 months. In March 2022 we did the first physical event in Dar es Salaam for the closest members in our community group based in Tanzania. The event was a great success, a video of the event can be found here.

Overview

Problem

Marketplace platforms (freelancing, gaming, e-commerce / NFT, airdrop, yield earning and bounty hunting) that have African users are having limited or no infrastructure to payout because traditional payment infrastructure in Africa is broken (e.g. PayPal) or expensive (e.g. Payoneer). Moving the crypto-friendly payout options (e.g. Twitter with Stripe USDc payouts) is happening, however on a slow paced and not yet on the Stellar network.


Solution

To facilitate payouts on the Stellar network, the right infrastructure to receive these types of payments needs to be in place. This infrastructure is what the GetPaid platform is built on and can provide to those platform, a wallet to connect with platforms and collect payments. This can happen through a direct integration through Stellar Wallet SDK and Stellar SEP standards, Connectors like WalletConnect or fiat payins through SEPA / ACH.


Usage of Stellar

GetPaid as a platform is built on top of the Stellar network and provides users with a Stellar wallet. For each creator, trader and freelancer that registers with GetPaid, a Stellar wallet is created. Getting paid into this account works through Stellar's XLM and USDC and Fiat options SEPA and card. Once the XLM or USDc is received, an user has the option to hold the funds or cash-out into their local currency to their local bank or mobile money account. At the moment GetPaid supports these types of payin / payout in Kenya, Rwanda and Tanzania utilizing ClickPesa anchor services through SEP-6, SEP-9, SEP-10 and SEP-12.


To facilitate payouts from platforms to GetPaid we looking to utilize Stellar through three connections:

  • Wallet SDK and Stellar SEP standards
  • Connectors: e.g. WalletConnect  
  • Fiat through SEPA / ACH payins whereby there is conversion to Stellar USDc (sUSDc)


Target market

The market we are targeting are global freelancing, gaming, e-commerce / NFT, airdrop, yield earning and bounty hunting marketplace platforms that are innovative enough to start with payouts to the (Stellar) blockchains.

Revenue model

Payouts to GetPaid will increase the transaction value and sales which benefits GetPaid’s revenue. GetPaid has three revenue streams:

  • Earn on transfers
  • Yield on wallets
  • A percentage on sales courses


Pricing strategy

The pricing strategy GetPaid is affordable pricing, at the same time sustainable and enabling us to grow ourselves as a business.

Sales forecast and financial plan

Find here a simplified financial plan with profit & loss projection (including use of capital), cash flow projection, and a break-even calculation.

Industry and market research

Below are a couple of examples of marketplace platforms  in various categories out of the shortlisted list with 250 platforms.

  • Freelancing - Upwork, Freelancer.com, PeoplePerHour, TrueLancer, Pompcryptojobs, FreelanceForCoins
  • Gaming - CryptoPop, CropBytes, Bitcoin Bounce
  • E-commerce / NFTs - OpenBazaar, Litemint, OpenSea, Foundation
  • Airdrop - Airdropalert
  • Yield earning - Lobstr, Aqru
  • Bounty hunting - Bounty0X, Gitcoin Bounties

About 96.4% of these platforms do not have the capability to payout to the Stellar network.


SWAT

  • Strengths
  • Team has strong understand of Stellar, network and technology.
  • Experience in the global digital economy.


  • Weaknesses
  • Young brand, not globally recognized
  • No direct sales / business development team in place yet


  • Threats
  • Stricter global upcoming regulations for cryptocurrency tokens.
  • The technical integration that needs to be done can be discourage marketplace platforms.


  • Opportunities
  • Most commonly used marketplace platforms are now adapting to the use of cryptocurrency (ie. Twitter and Stripe) this is increasing awareness of the use of cryptocurrency in the region.
  • Worldwide demand for digital workers is rapidly growing, there is a serious shortage of good talent in the world.


Competition

Competitors are other blockchains (wallets) to connect and payout to such as Solana, Bitcoin, Ethereum, Binance Smart Chain and Avalanche and Fiat payout methods such as PayPal, Payoneer and Skrill.


Marketing and sales

Direct sales / Business development is done by business developers / sales personnel. No explicit marketing (campaigns) will be done apart from information and documentation provision on our website.


Resources and relationships

GetPaid will work as much as possible with Stellar Ecosystem players, infrastructure providers and exchanges.

No items found.

Problem

Marketplace platforms (freelancing, gaming, e-commerce / NFT, airdrop, yield earning and bounty hunting) that have African users are having limited or no infrastructure to payout because traditional payment infrastructure in Africa is broken (e.g. PayPal) or expensive (e.g. Payoneer). Moving the crypto-friendly payout options (e.g. Twitter with Stripe USDc payouts) is happening, however on a slow paced and not yet on the Stellar network.


Solution

To facilitate payouts on the Stellar network, the right infrastructure to receive these types of payments needs to be in place. This infrastructure is what the GetPaid platform is built on and can provide to those platform, a wallet to connect with platforms and collect payments. This can happen through a direct integration through Stellar Wallet SDK and Stellar SEP standards, Connectors like WalletConnect or fiat payins through SEPA / ACH.


Usage of Stellar

GetPaid as a platform is built on top of the Stellar network and provides users with a Stellar wallet. For each creator, trader and freelancer that registers with GetPaid, a Stellar wallet is created. Getting paid into this account works through Stellar's XLM and USDC and Fiat options SEPA and card. Once the XLM or USDc is received, an user has the option to hold the funds or cash-out into their local currency to their local bank or mobile money account. At the moment GetPaid supports these types of payin / payout in Kenya, Rwanda and Tanzania utilizing ClickPesa anchor services through SEP-6, SEP-9, SEP-10 and SEP-12.


To facilitate payouts from platforms to GetPaid we looking to utilize Stellar through three connections:

  • Wallet SDK and Stellar SEP standards
  • Connectors: e.g. WalletConnect  
  • Fiat through SEPA / ACH payins whereby there is conversion to Stellar USDc (sUSDc)


Target market

The market we are targeting are global freelancing, gaming, e-commerce / NFT, airdrop, yield earning and bounty hunting marketplace platforms that are innovative enough to start with payouts to the (Stellar) blockchains.

Revenue model

Payouts to GetPaid will increase the transaction value and sales which benefits GetPaid’s revenue. GetPaid has three revenue streams:

  • Earn on transfers
  • Yield on wallets
  • A percentage on sales courses


Pricing strategy

The pricing strategy GetPaid is affordable pricing, at the same time sustainable and enabling us to grow ourselves as a business.

Sales forecast and financial plan

Find here a simplified financial plan with profit & loss projection (including use of capital), cash flow projection, and a break-even calculation.

Industry and market research

Below are a couple of examples of marketplace platforms  in various categories out of the shortlisted list with 250 platforms.

  • Freelancing - Upwork, Freelancer.com, PeoplePerHour, TrueLancer, Pompcryptojobs, FreelanceForCoins
  • Gaming - CryptoPop, CropBytes, Bitcoin Bounce
  • E-commerce / NFTs - OpenBazaar, Litemint, OpenSea, Foundation
  • Airdrop - Airdropalert
  • Yield earning - Lobstr, Aqru
  • Bounty hunting - Bounty0X, Gitcoin Bounties

About 96.4% of these platforms do not have the capability to payout to the Stellar network.


SWAT

  • Strengths
  • Team has strong understand of Stellar, network and technology.
  • Experience in the global digital economy.


  • Weaknesses
  • Young brand, not globally recognized
  • No direct sales / business development team in place yet


  • Threats
  • Stricter global upcoming regulations for cryptocurrency tokens.
  • The technical integration that needs to be done can be discourage marketplace platforms.


  • Opportunities
  • Most commonly used marketplace platforms are now adapting to the use of cryptocurrency (ie. Twitter and Stripe) this is increasing awareness of the use of cryptocurrency in the region.
  • Worldwide demand for digital workers is rapidly growing, there is a serious shortage of good talent in the world.


Competition

Competitors are other blockchains (wallets) to connect and payout to such as Solana, Bitcoin, Ethereum, Binance Smart Chain and Avalanche and Fiat payout methods such as PayPal, Payoneer and Skrill.


Marketing and sales

Direct sales / Business development is done by business developers / sales personnel. No explicit marketing (campaigns) will be done apart from information and documentation provision on our website.


Resources and relationships

GetPaid will work as much as possible with Stellar Ecosystem players, infrastructure providers and exchanges.

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About the Team

Justine - Growth Marketing

LinkedIn / Twitter


Tonny - Senior Backend Developer


Rick - Product Lead and Finance

LinkedIn


Geofrey - Fullstack developer

LinkedIn


Elly - Social media

Linkedin


Benedict - Frontend Developer

Twitter


Jackson - UI/UX Designer


Suzana - Copy and account management

Linkedin


John - Marketing lead

Twitter / Linkedin


Vee - Community Manager

Twitter


In addition to the core team named above, we work with a handful of freelancers and creators in the fields of development, copywriting, social media influencers etc. based in Kenya, Rwanda and Tanzania.

*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on September 27, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
* The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on the date of transfer as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on December 16, 2021 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)
*The USD valuation of the award in XLM is calculated using the CF Stellar Lumens-Dollar Settlement Price on July 5, 2022 as administered, maintained, and reported by the cryptocurrency index provider CF Benchmarks Ltd. (using the ticker “XLMUSD_RR”) (available at https://www.cfbenchmarks.com/indices/XLMUSD_RR)