FESU - Frikkin Easy Staking Util

The Problem: It is hard to get in if you are not an enthusiast
Getting into crypto is hard for the average person out there if you are not a professional investor or enthusiast. You have to jump through many loops to get those nice >10% APY. You need an exchange, you need a wallet, and you need to find projects that fit your needs. On top you have to make sure non of those tools are scams. After you managed all this you have to pay insane fees (on Ethereum at least) to get in and out of positions. :angry:
→ Getting your mom and pop money into :popcorn: POPCorn is hard, however attracting that kind of money would be very lucrative for all parties involved. People who are used to 1-2% APY on their over night money account can put their USD into :butter: and at the same time POPCorn gets blue ocean money (not that much competition) directly into their product.

The Solution: FESU - Frikkin Easy Staking Util
FESU is an clean/easy to grasp landing page with a setp by step guid, reminders and checks to

  1. Explain what steps are needed and what risks are involved
  2. Get a wallet (MetaMask?)
  3. Get some stable coins for your FIAT (https://ramp.network/ integration?)
  4. Put that coin into :butter:
  5. Track your earnings
  6. Withdraw your money from :butter:
  7. Offramp your stable coins into FIAT

Issues

  • Making something “easy” is hard
  • Still too many steps even if the steps are guided
  • :butter: is only available on layer 1 solutions which means the high feed issue is not solved (@krychek is there a technical problem with deploying :butter: on layer 2 solutions?) Maybe we need a L1 <–> L2 token shuttle service.
  • One has to deal with non-technical people via support
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I really like the concept and share your concern that making this easy is going to be very hard.

But I def. think this would be worth while, something that needs to be 100% clear is the wallet, how it works, what private keys are, why it is important that people don’t loose the seed phrase or never share it with anyone. This level of responsibility is also something that might scare some people off…

2 Likes