Your hot new NFT project blazes, legions rush to snap your newly created jpegs, and Discord swells. Your token is surging, Crypto Twitter is garnering attention with thousands of new mentions and retweets, breaking all resistance as the price rises. It’s starting to sniff out work, and a red-hot blockchain dev talent is petitioning your DM for work.
You are a successful cryptocurrency startup that has jumped the first hurdle that many fail. You have eyes and attention. Now the hard work begins. Most projects don’t even realize they’ll need more help. How organized they have to be.how much they Rain corporate crypto card.
Hey Big Spender!make the treasury work
Projects building the next killer app for cryptocurrencies need to spend money to reach their full potential. These funds are usually provided by the project’s finance ministry. Whether it’s the ecosystem tokens awarded during the TGE, the stacks of funds piled up from NFT royalties, or the external capital they get. To do so, you need to use it wisely.
Indeed, on the smallest scale of hundreds or thousands of dollars, and with infrequent or one-off spending, financial management is no big deal. However, most serious projects incur regular and ongoing legal fees that must be paid to take the mission to the next level. The web3 world isn’t fully integrated with the world’s traditional business systems, and Rain fixes all that.
Difficulty in paying expenses
Currently DAOs are run in a very ad-hoc way. In many cases, the project her leader spends out of her own personal finances before being reimbursed by the Treasury of the group she works with. This is already a cumbersome and inefficient way of running a business, but it’s just the tip of the iceberg of problems DAOs can face when trying to turn their dreams into reality.
Like team laptops, all expenses require a full on-chain vote before funds are moved out of the Treasury. These funds will be encrypted, something companies like Apple do not currently accept. Therefore, the DAO should offramp the funds before buying the laptop. This requires additional administrative costs and surcharges, and greatly reduces the agility and efficiency that are essential for any good business to function.
Disaster lurking in DM
A well-integrated corporate debit and/or credit card that works for DAOs just beginning full-scale business operations is essential. Rain’s cards can be given limits, multi-sig security settings, clear quotas and project cost quotas pre-agreed by the DAO before spending begins.
Types of Expenses Web3 Business Needs
Most importantly, Rain’s corporate card makes it easy to spend your finances toward your corporate goals. Flight to Colombia for the latest crypto conference? – No problem. Place it on the rain card. Are you paying GoDaddy to host your website? – No problem. Place it on the rain card. Want an Amazon gift for every member of the day? – No problem… we get it.
enterprise requirement Their crypto payment rails, and currently they don’t have them. It seems suitable for
How the rain card works
Rain Card works by simply connecting to your personal or multisig wallet, setting limits on your card, converting USDC to fiat when making purchases, and paying merchants with Visa Payments Rail. This project is initially built on Ethereum and Polygon. They’re a simple, fast, and cheap way to deploy your DAO treasury into the real world without obstacles or friction. “We want to be the transformation layer from web3 to traditional financial systems,” says Rain co-founder Charles Naut.
Opening an account on a centralized exchange can take months, and no bank wants to open a business account with a random DAO. The need for smart payment technology is quickly emerging. $6 million in seed funding recently announced by the project, and the names involved are impressive. Lightspeed Ventures led the round, with participation from notable companies such as Circle Ventures and Uniswap Labs. Several of Lightspeed’s businesses are on the waiting list to take Rain’s card for themselves and test it in the real world, with over 600 companies across web3 on the waiting list.
Make the DAO work
Conversion of $16 billion AUM With DAOs in your company’s working capital (which may already be outdated because they’re growing in numbers so quickly), web3’s true potential is realized. Businesses need to spend money to make money, and the Rain corporate debit card allows them to spend his USDC in the Treasury with minimal hassle and maximum security. With a simple and easy off-ramp, unleash all the idle capital in your DAO wallet to advance the growth engine that drives web3.