z_a on Warpcast

Harper Reed pfp

I have been teasing a story for a minute. Here is a 🧵 of what is going on TL;DR: After a bunch of pain and suffering we are launching our off ramp product: A simple personal offramp! You can sign up for the waitlist at skyteller.xyz. We are going to prioritize farcaster users for onboarding over the next few weeks

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Harper Reed pfp

Back in early 2022, we got really into off-ramps in the crypto world. We knew that without a good off-ramp, the ecosystem limits who can participate. If we want web3 to be what we all know it can be, participants need to be able to buy groceries, pay for childcare, and (most importantly) buy tacos!

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Harper Reed pfp

We wanted to change that!💥

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We set out to build a really neat solution for off-ramps that would work for everyone, but particularly people working in crypto. That solution: debit cards!

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This wasn’t our first debit card rodeo - our team had launched one of the first PayPal debit cards, the Venmo card (remember the dough lol), and built a lot of Venmo infra, so we were confident we could pull this off.😎

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Harper Reed pfp

We built out a really neat product, settled on some great partners, and even got bank approval, network approval and general approval pretty quickly!

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Harper Reed pfp

We thought we were making great progress, but then right before deploying our test cards in market, our partner asked us to wait until Q1 2023 “due to an audit by the card network.” This was right after FTX so I knew we were in trouble.

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Harper Reed pfp

We waited patiently, but then our partner came back with some challenges. We fixed the issues, but then our partner dropped a bombshell: they just didn't want to work with crypto companies anymore. We were pretty devastated!😔

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Harper Reed pfp

But we didn't give up. We found another bank that was excited about our progress, but then they paused all programs until they could figure out what was going on in crypto. After talking to a few more bank partners, we realized that — right now — a self-custodial debit card program is probably untenable.

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We didn't want to stop building off-ramps, though!🛣️

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So we pivoted and built a product that lets you get an eth address that is directly connected to your bank account. This allows you to seamlessly off-ramp anything from ETH mainnet into fiat! It's like having your own personal simple off-ramp.

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For example, if you send USDC/ETH/etc to "cash.harper.eth," it would be deposited into my personal bank account. Try it! JKJK. 🤑

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Harper Reed pfp

You can sign up for the waitlist here: skyteller.xyz

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Harper Reed pfp

There are so many neat use cases for this new product. You can add your off-ramp address as your NFT marketplace royalty address and have your royalties deposited directly into your bank account.

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You can set up a payment splitter and have this ETH address be one of the addresses for pushing 40% of your crypto earnings to your fiat account for taxes.

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You can add this to your ENS address (cash.harper.eth) and then have people pay you directly in USD to cover fiat things like pizza!

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Your parents could set this up and then you could send them crypto and have it magically appear in their bank account!🚀

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Harper Reed pfp

We're launching this over the next six weeks (slowly but surely) and we're excited to share it with you all. You can sign up for the waitlist at skyteller.xyz. We will be prioritizing farcaster users! The journey has been hard, but we're excited to revolutionize off-ramps for crypto together!🌟

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Harper Reed pfp

If you happen to be at eth denver, you should find @jordanho and get him to give you a skyteller neck tattoo. growth hacks, amirite?

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Shout out to the galactic team (@jordanho, @ashleyd, @gauri) and the bridge team (@sean and @z-a) for making this happen.

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z_a pfp

excited to support this launch. and to support the debit card once sanity returns to the market!

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