Projects
![]()
No projects found
Investors
New
DAO Treasuries
DATs
Lend / Borrow APRs
Chains
Categories
Spaces
Chad's Lounge with Moca App
Recorded: Sept. 20, 2025 Duration: 1:50:03Space Recording
Short Summary
ThorChain and Mocha are set to revolutionize crypto payments with innovative solutions, including the launch of a decentralized exchange and a new token, Rune, while fostering partnerships to create a circular economy. With over 30 businesses ready to integrate, the momentum for growth and adoption is palpable.
Full Transcription
Thank you. Hey, can I have a mic check?
Can you guys hear me?
Yeah, yeah.
Okay, Kenton, can you hear me, buddy?
All right, guys, we're just going to get people on the stage.
Very, very good.
Okay, let's get going here.
All right, we'll get Eric up here.
We're going to start the show, guys.
We've had a big week.
Hope everyone's having a good week today.
I know I am.
Man, we've had a lot of fun things happen.
3.11's been pushed.
We've got all kinds of good stuff going, guys.
So let's get this show started. Hello, everyone. One and all. This is a ThorChain space. We have a very special guest today.
Let's talk about what ThorChain is. So ThorChain is a decentralized exchange that enables you to swap Bitcoin with thousands of other cryptocurrencies.
It is all layer one native tokens. There are no bridges or wrapped assets involved.
It's the real deal.
And all from your self-custodial wallet.
There is no KYC on Thorchain.
That means kill your customer.
We do not do that.
And it's also permissionless.
Oh, is my sound not good?
Let's go back.
All right.
Let me switch it up here, guys.
No big deal.
Things happen. Okay, but my audio is not good, I go back all right let me switch it up here guys no big deal things happen yeah
okay but my audio is not good i'm being told so let's back up here let me switch out
ill adapt and overcome you know guys how x bases are okay how do i sound now you sound good to me can you hear me sound sound good okay okay i'm gonna keep going guys forgive the audio problems there okay guys kyc means kill your customer we don't
do that on thor chain for chain is permissionless thor chain's token is called rune that is spelled
r u n e romeo uniform november echo you do not need to buy or hold Rune to place a swap on Thor Chain.
Very good design decision.
However, the fees are deducted from your swap and are used to buy Rune.
And this Rune is the yield that goes to liquidity pools and nodes.
There are no block rewards on Thor Chain.
100% of the yield is real.
ThorChain has another token called TCY, Tango Charlie Yankee.
This token is like a preferred stock,
and 10% of the protocol's revenue goes to these token holders.
If you deposited crypto into savers or took out a loan on ThorChain,
make sure to claim your TCY tokens so you can start collecting the shield
and anyone can buy the TCY token as well. Additionally, the buyback from the treasury
of the TCY has started. I believe the first swap was yesterday. So that's great. Finally,
that contract is live. To swap on ThorChain, go to ThorChain.org, click on swap, and you'll see
all the wallets and websites that use ThorChainain and you can choose the interface you want to use.
Rujira is building decentralized Binance on ThorChain smart contract layer.
It's being rolled out as we speak.
Keep an eye on that.
That's going to be absolutely huge.
And speaking of Binance, my friends, if you hold Rune on a centralized exchange, you should withdraw it into self-custody immediately because these
tokens are being used to short sell Rune and drive the price down. That's not good. And once
in self-custody, you should look into bonding your Rune to a node and to earn some yield. And
basically you also help secure the network as well. And to do that, a great site is runebond.com
where you find a node, request a whitelist, and then bond it when
you're accepted. It is super easy, you guys. Earn that yield. There's a ThorChain community
discord and telegram. You can join to learn all about ThorChain to make all kinds of friends.
To find the links, go to at Thor, T-H-O-R, Thor community, all one word, account on X.
Let's get some reposts in the space, guys.
We have a really awesome guest today.
Mocha's gonna be joining us.
It is a wonderful, wonderful thing.
This has been a long time coming.
I'm super pumped.
I hope you guys are pumped.
And remember, guys, this space is geared
at anyone in your Thor chain journey,
whether you are a veteran or brand spanking new,
there will be something in here for you,
and we will make sure to explain everything thoroughly.
With that being said, my name is Patri is patriot sounds my real name is denny been as content provider educator on thor chain for going on five years now kenton i know you
have some updates for us so i'm gonna go ahead and kick it to you buddy thanks patriot yeah uh
my name is kenton ralph toes i have a the you shareune Fund, which is dedicated to investing in Rune and running nodes on ThorChain.
So I'm a node operator and bond provider.
And being a node operator, I'm active in the governance.
I've been really active the last few months while pushing forward the new front end and marketing plan.
So the front end is coming along.
Hopefully you guys have been playing with it.
I think we're going to move it over to the swap.thorchain.org domain here soon.
Hopefully that'll be done this week.
But if you guys can play with it, test it out,
any little bug, the littlest thing,
doesn't matter, you're not being annoying.
Like we need people to point out these little things, right?
Because we all have different browsers,
we have different computers.
It's impossible for one person
to test all these different variations.
So there's an email address there at the top of the site that you can submit the bugs
So instead of having to post on Twitter or Discord or Telegram, whatever, you can email
that to them there.
The marketing is going good, guys.
So little alpha for you.
I haven't updated this in the Discord yet.
I'll do it on Monday.
But we're moving forward with the CMO, a chief marketing officer, and talk to him on, we'll
have our first meeting on Monday to kind of go over the game plan, start introducing
him to ThorChain.
So after we talk to him on Monday,
I may have a bit of a better idea.
I'll put an update in Discord.
But it's going to take him a good week or two just
to understand ThorChain, everything going on,
everything we want to do, and then start putting together
a more formal plan.
But I feel like I kind of know what we're going to do.
We're going to kind of hit a few things at the same time.
So like start working on updating the website to basically incorporate the new
swap page, right? Cause we need to funnel people there.
That'll include, you know, redoing all the graphics, you know,
just updating everything. Not a jaguar rebrand
not that just uh you know just updating what we already have um and then that with that we'll come
working on seo and um and then also doing some pr some public relations start helping with you
know improving door chain's reputation around around the space um I feel like I think pay-per-click will be more kind of at the end of that
because we need everything else done, everything else going.
We don't want to pay for people to come to the site
if everything isn't totally ready.
But the SEO and PR, that's like compounding, right?
It's not just some one and done.
We got to stick with it and just keep going like a healthy, eating healthy. So things are moving forward. The treasury moved
over the 250 grand to our Ether wallet. We got the ETH address and RUN address that's in the ADR.
So you want to come spy on it, check it out. It's there. And yeah, we're starting to move
forward. Things are going. Things are happening. Very cool, man. Super excited.
So now I'll pass this off to Eric. Do you want to introduce us to Mocha?
I'm needing it everywhere. Yeah, well, I think it's better if I introduce you to Zay because
you guys already, well, a lot of people already know me, but Zay is the mastermind of Mocha. So
Zay, do you want to introduce yourself?
Yeah, of course. No problem. Just let me know if you can hear me right
i can hear you it's a bit yeah it's a bit muffled okay let me try to do something really quick and
see if you can hear me better it's a little little bit better can you can you hear me better there
Can you hear me better there?
It's so-so.
Yeah.
I think it's the noise cancelling.
Sorry.
It's good enough, at least?
Good enough, yep.
Yeah, we can make it work, buddy.
Go ahead.
Thanks, sorry, guys, for the sound.
It's not my fault.
Well, yeah, Eric, thanks for the introduction. For those of you who don't know me, well, I'm the sound. It's not my fault. Well, yeah, Eric,
thanks for the introduction. For those of you
who don't know me, well, I'm the CEO at
Mocha, and we've been working
so hard trying to bring
some new tech
into the big guys
playground here
with ThorChain and Maya.
I think we have some interesting products,
and if you haven't
heard from it from Eric or from me or from Patriot's house or from Kenton we're building a bunch of
things here we're building a point of sale for real world usage of crypto so if you have some
store or you're selling stuff through an e-commerce well you can integrate us and then start
settling any one of the cryptos that we support we also have a free no ads
explorer it's a multi-chain explorer that you'll be able to access it's free for you
there's no ads there there's it's just a community service if you want to think of it like that
it's just community service if you want to think of it like that that will be on
explore that mocha that up so you can find it there and we also have the data
of the wallet out there it's been there for a while and we're still working on
it and and everything comes together once you can have a business charging
in crypto and then you
have somebody that wants to pay with the Mocha app or other wallet that supports the Mocha
payments and then you can check that the transaction went through in the Explorer.
So that's full circle right there.
So that's what we're building and I'm really excited to share with you more details of
that and if you have questions, I'm going to be here to answer them.
Eric, did you have anything you want to add? Anything else? And do introduce yourself in case people don't know you. Yes. Thank you very much. And, you know,
when I joined Mocha eight years, yeah, right, eight months ago, the thing that solved me and that made me say, OK, this is the project that
I want to contribute with, one, because it aligns with ThorChain and by proxy, it aligns
with Maya Protocol in the sense that you want to provide tools and you want to provide solutions
that are actually pushing the OG foundations of crypto or
the OG ethos of crypto, which is permissionlessness, decentralization, and, you know,
this path to financial freedom, which some people might mistake with being rich. But the freedom
doesn't come from being rich. It comes from being able to do whatever you want with your belongings, right?
If you have USD, you want to be able to spend it anywhere you want, the way you want, whenever
you want, right?
So when they told me about Mocha POS, I was like, wow, so you're using ThorChain and the assets that ThorChain supports
to let people use them in the real world. And I was like, that's the next step. And we have been
looking for a next step on ThorChain on the normie side, because I know there's a lot of financial
side happening with Ruggira and local solutions on ThorChain.
But then this translates, Mocha translates what ThorChain can achieve and bring it to the people,
like the normal people.
And then they shared with me also something
that we cannot really speak about,
but a lot of people in the community already know about
because they're part of our alpha testing session.
So when I heard that, I was like, okay, this is going to explode once we launch.
So yeah, that's me. I've been part of the ThorChain ecosystem. I was looking yesterday,
I think my first tweet about Rune or ThorChain was in 2020. So I'm not a veteran, but I know the space.
And I've been in crypto for eight years. That's basically who I am on the crypto side of things.
And I think that actually opens my mention of the launch, of when we launch, it's going to explode.
So that kind of opens the door for that topic.
So just to summarize then, Mocha is like a payment app.
So I was just, a couple of days ago,
I was at a Bitcoin meetup and we convinced
the whiskey bar called Kask in Cayman, Grand Cayman.
And we told them that Bitcoin now is payment.
But they just have a wallet of Satoshi and you just pay them over Lightning. It can just do Bitcoin.
Mocha, if they installed Mocha, not only could they accept Bitcoin, they could accept
any token that trades on ThorChain and Maya? And is there any other DEX aggregation?
I can answer that one. Let's get a little bit more technical on that part. Yes, currently
we have the way it's only working on the Mocha app right now but we are open to other wallets to
Connect to our API's they can do they can request for an API
API key for a mask and they'll be able to
Use our system or multi ecosystem and pay with that wallet. So first of all, I just want to get this clear
We're not trying to steal users from other wallets
We want the other wallets to be able to pay in all of our point of sales.
And this is good for the users and this is good for the wallets
because they can get part of the fees that the user pays for the wallet.
So it's free for them to integrate and they can also get a cut out of the transactions.
So if you have a favorite wallet out there, you don't want to use Mocha wallet.
Well, just let them know that we have these APIsis and they can integrate it and it's really simple it's three apis that they have to integrate
even a junior developer can do it and then they can now pay in every business that we have so
that's great so if you want your favorite wallet to be able to pay in that much a point of time
let them know and yes you'll be able to pay on all the tokens
that the wallet that you're paying with supports and it's supported on torturing or maya so if that
wallet that you you're using it's uh an xrp wallet and it only supports xrp but the wallet is using
or apis then you'll be able to pay Kenton,
for example, in his business and he wants to receive rune. So he'll be able to do the
swap, but the user doesn't know that there's a swap happening. They just send the XRP and
Kenton will receive the rune. And that's it. That's how it works. But then it's that example
that you were talking about they well
pay one bitcoin just because they want bitcoin and instead of using the satoshi wallet they use
the mocha point of sale they can select bitcoin as the settlement token for that business
and all the tokens that are on maya and torchain are available to pay to that business and what's
going to happen is that there's going to be a swap in the background and they will receive the bitcoin and the user will
pay with any token that they want so that's how it works and also we have some security features
because well especially with bitcoin on or some of the other slower chains and tokens uh the user
is not going to stay there for an hour just waiting for
the transaction to be successful so just the moment the transaction appears in
the block we may we mark it down as paid and if something happened in them in
the middle of the swap there the business will get the refund because on the memo of the transaction
there's a refund address that goes to the actual uh wallet connected to the business even though
it's not going to be bitcoin by at least they're going to receive the xrp in their wallet if
something goes wrong in the middle of swapping so that's also like a security picture because maybe
the user already left and well they
want to remain unknown doesn't matter the business got the value and also the value with the fee for
the swap so they can do the swap from their wallet or they can open the mocha wallet and do the swap
and get the people later on so yeah that's how it works but for the users well seamless they just pay and that's it
and if the tokens available on thort chain and maya and there's no other dex segregation going on
um at the moment we have those and we're working on chain flip and we are thinking of some others but yeah at the moment just those two the thing thing is that we need to have the centralized exchanges.
We don't wanna have any centralized exchange in the middle.
Yeah.
So like Lightning, like ThorChain doesn't do Lightning.
So you can't do a Bitcoin Lightning payment.
It'd be regular Bitcoin, right?
And so, you know, Bitcoin can be a bit slow. Now, the other other blockchains, I suppose,
are faster. How do you manage the transaction time? Like, nobody wants to take 10 minutes to pay
pay for their coffee, right? So how do you guys handle that?
Yeah, at the moment, since we're just starting and we don't have like a huge community yet
on the Mocha ecosystem, it's going to be a tough part trying to teach the user or the businesses,
but we're going to encourage them to select faster tokens. We know that at the beginning,
there's people that won't have them or want to pay pay with them but that's okay later on we we have something that we're gonna call the mocha balance and if you
are using it the business will get that balance and it's and also it's gonna be based on trade
assets in fortune and Maya so those are really fast and even though you have the user has the mocha balance
and they are start accumulating that for couple of businesses start accumulating their own
mocha balance they can start doing table with that mocha balance to their employees and then
we're trying to make like that being the main balance used all over their solutions but that
was gonna take time but yeah for but that was going to take time
but yeah for for now we are going to encourage depending on the type of business that you have
uh we're going to recommend faster tokens but maybe if you're into selling cars or maybe selling
houses maybe you can you can use bitcoin and then just uh wait for a day even for the transaction to happen. There's
no rush on there. But if you're, as you said, a coffee shop, well, we'll recommend payments
with faster chains just because, well, the type of business that you have. Later on,
maybe if Maya or Thorchain integrates Lightning, well, that will be easier and the way to go,
well, that will be easier and the way to go,
but we're not there yet.
Yeah.
You mentioned trade assets.
So like does Ruggiero and the app layer,
does that, can Mocha utilize that to do things faster?
That does the app layer help Mocha help your app?
Well, that's something that we were talking yesterday actually i was talking with
pragmatic monkey about how can we use rogera's tech and integrate it into mocha and make life
easier for everyone and there's one particular piece of tech that we can use that will help the
businesses a lot and it will help with this but I'm until that's done
I'm not gonna share it because maybe it won't happen or it's not possible and I
just don't want to do a promise about that but yeah we're already talking to
the reviewer team about that and I think we can get some advantage of that and
also bring more people into into the ecosystem there So I'm excited for that. You basically would have to...
Hey, Kent, can I interrupt you quick?
I'm sorry.
Hey, Zay, I'm covering for you on the mic.
You're transmitting sound on the space,
but I don't think you are transmitting sound
on the live stream.
It's not a big deal.
I'm helping you out,
but just a heads up, okay?
No, I can't hear anything. No, I can't hear anything now i can't hear anything can you hear me yeah i have it unmuted
here and yeah okay no worries and i'll i'll get you then we can overlay it i just want to see if
that was something we could fix real quick no big deal all right continue sorry sorry man no
so would it be like i'm imagining the way it would work is people would have to deposit
crypto into their mocha app and that would be converted into a trade asset and then
that's how it would be able to use it zay i got to say buddy your mic man the background noise
like everything is pretty bad um you can't move to a different spot hey
let me try to move somewhere else yeah just keep keep coming the questions i'm just gonna answer
i'm gonna so yeah i'm imagining if you're able to utilize Ruggiero and trade assets, people would have to deposit their credit to the Mocha app, be converted to trade assets, almost like putting Bitcoin and Lightning Network.
And then you'd be able to move the trade assets very quickly between different Mocha apps.
And so the merchant could receive trade assets like instantly.
And then whenever they're ready to cash out, they just convert the trade assets to L1s.
And yeah, does that make sense?
Yeah, that would be a really easy way to explain it.
We're trying to make some UI or something to make it easier for normies and also for the businesses.
It's kind of like lightning.
Yeah, that's how it's going to work.
But the good thing is that it's not only Bitcoin.
There's a trade asset for every token that it's supported in ThorChain and Maya.
So you can still hold your Ethereum, your XRP, your Bitcoin, everything you want.
And it's going to have the same value of the token,
but it's going to be way cheaper and faster to move it around.
Yeah.
Did it sound better here?
Maybe a smidgen.
Go ahead, Eric, did you want to say something?
Yes.
And to just summarize what Zay said,
and this is exactly how we want to like the way that we want our end user, which is going to be someone who maybe doesn't know anything about Bitcoin or blockchain or, you know, everything that we stand for.
But they want to use crypto because they know it's the future or they think it's a good opportunity to get a different market share or to maybe expand their reach.
They don't want to learn anything about how it works in the back end.
They just want to be able to use it.
So if we tell them, hey, so here's your USD.
They don't even know it's trade assets.
They don't even need to know that there's something happening in the background,
either with Regera or with the trade assets themselves.
They just want to be able to say, OK, so I have $100.
I just received $100 from the last sale.
Mocha didn't charge anything.
The user maybe used a trust wallet or maybe they used a Mocha wallet or a Thor wallet.
They don't care.
They just care that they receive the money and they are able to use it to pay their employees
or to pay their vendors, whatever.
That's why trade assets is so important or so powerful
because in the end,
the user just wants to be able to use their money.
Well, the one thing they would have to know,
they're losing custody of their tokens, though, right?
Because StoreChain would then have custody of the tokens.
They're getting, trade assets are basically a wrapped token, right?
So they're getting an IOU.
That is, I think, some, I mean, we understand that, but I wonder, I doubt the average user will understand that.
Would you try and, would that be part of your disclaimer part of your
education with onboarding people's um or are you just kind of like no we're abstracting everything
away um how yeah how would you approach that well that's a tough one but the thing is that
we are aiming for more normies than actual crypto people
So for them, they won't even know what's the difference into holding by themselves like having custody or not
So for them as long as they can move it around, that's fine
But for the people that already know what's happening and know about self custody
I think they will understand why they should use a fast token instead of Bitcoin just to pay for a coffee.
So that's kind of natural for us that we understand how the chains work.
So I think that's not going to be like a huge impediment for normies.
Yeah.
And I mean, it sounds like people are going to have their whole life savings on
the Mocha app. No offense, but it'll be like a wallet. It'll affect their cash, their spending
cash that they'll have. So it shouldn't be that big a deal. So let me ask you this, change
gears a bit. Eric, when we first met, you said you guys are working on building a community first
and getting people interested before building the actual product so that when the product is live,
then you've got access to... you've already got a community that can start using it.
How's that going? Do you have people that are ready to start downloading,
start using the app?
Do you have businesses that are ready and have been waiting?
You know, like when you guys, now that you're going live,
do you have a lot of people in the wings ready to go, ready to use it?
Yeah, so here's the thing.
And we have seen this many times in crypto,
and this is not a job at other projects,
but it's just a learning experience that when you've been in crypto for a while, you start to notice the patterns.
And we've been building Mocha for a year and a half, and I joined the team to grow the business and to nurture the community on February on february if i remember correctly uh march
probably but okay so here's the thing most crypto projects still do the same playbook of having the
product ready and then starting with very aggressive marketing with a lot of incentives
to to create this community and then they attract the the i the, I don't want to say wrong, but probably the more short-term
mindset kind of crowd.
So what we started doing when I joined was, okay, so we have the products in development.
We know how the roadmap looks.
how the roadmap looks, we have a rough estimate of when we want to launch.
We have a rough estimate of when we want to launch.
So why don't we start building awareness and gaining some organic mindshare
and letting people join our Discord or Telegram or maybe just follow us on X.
The X account is completely organic.
I know it's not flashy.
We don't have tens of thousands of followers,
but each and every follower we have
it's that they are following us because they got interested in mocha one way or another right
so uh by joining a lot of spaces and this was actually a um uh the the strategy relied a lot on
helping promote thor chain and at the same time saying yes and we are also building
Mocha on top of ThorChain and that's how we got into XRP spaces, Bitcoin Cash spaces, a couple of
Zcash spaces and the way that we're building the community is not like this is the Mocha community
and this is ours, so to speak.
What we're doing is,
okay, so you're part of the ThorChain community.
We're building something that helps ThorChain.
Oh, you're part of the XRP community.
Well, perfect.
We have a use case for you through ThorChain
that Mocha can leverage it, right?
So we are not trying to be this this this this project or this company that wants to to I don't know the word hurdle.
No, like to claim all of this community and say, oh, these are hardcores.
No, no, no. You can keep your XRP community and do your spaces and all of that.
And you're just part of Mocha and you know what Mocha is doing.
is part of Mocha and you know what Mocha is doing. And it has worked a lot. It has worked for us
very well because we join a lot of spaces throughout the week and they all know that
we are already part of their community. And they welcome us with open arms because they know that
we want to work with the ecosystem, for example, on the XRP ledger, we know there's a couple of wallets that are strong
in the part of the community that we're joining.
And we are already in talks to integrate them to Mocha.
And that way, we can onboard the XRP community
to ThorChain through Mocha without telling them,
hey, you have to choose, or you have to be hardcore Mocha,
or you have to be 100% ThorChain. No, hey, you have to choose or you have to be hardcore Mocha or you have to be 100% Thorchain.
No, no, no. The real competition is outside.
It's the payment processors that have draconian fees.
It's the middlemen that charge you for every single transaction that you do.
It's the system, the banks so so to speak so it's been working great and we
currently have probably i don't want to oversell it but we have more than 30 businesses ready to
integrate on day one and we have more than 50 people who uh they have been bugging us on dms
well you're not bugging guys but they have have been swarming our DMs because they are
waiting for Mocha POS to go out so they can just go out there on their neighborhoods and start
onboarding businesses. Because the more businesses they onboard, the more passive income they are
going to generate on a long-term basis. And maybe I can tell you a little bit about how the referral system will work.
Sure. First, what is POS?
Point of sale. So, yeah.
Yeah, explain that a bit, please.
Yes, we have Mocha Business, which is the payment enabler. And that is an umbrella for Mocha POS, which is going to be the physical
solution for people to pay on businesses through any device. It doesn't use a terminal, right? So
anyone with a business, it could be a small business or a giant business, they just need
an iPad or a cell phone or a computer, they download Mocha POS, point of sale,
and they create their business in 30 seconds.
In fact, we can show you if you want,
once maybe in 30 minutes or something
when we start going into detail.
They download the app or they use it on the browser.
They create their business in 30 seconds
and they can start accepting crypto from that moment. But the person, they create their business in 30 seconds, and they can start accepting
crypto from that moment.
But the person who onboarded that business will get a small percentage of the fee that
Mocha generates through the swaps that the business is going to enable or to generate
from the user.
Let's say the user is paying with XRP
and the business wants to receive Bitcoin, right?
So there's going to happen,
there's going to be a swap in the backend
and the small fee that Torchain generates,
that Mocha generates,
a share of that is going to go to the person.
So you're going to have your normal job
and on the evenings,
you can just go out, put on your Mocha hat
and then just go like touching
door to door hey i have a solution where you can earn it like more you can if visa takes three
percent from you uh well mocha gives you a hundred percent if in in fact we don't give it to you
because it's yours mocha just enables the the the the payment and that's it, right?
And the lifetime rewards,
well, it's going to be lifetime rewards, right?
So if you onboard a business today,
it's going to generate you passive rewards forever.
And that's the key.
And that's why we don't have hype campaigns
and we are not planning on doing KOLs
and we are not planning on paying a lot of money for ads, etc.
Because we think that the organic adoption that Mocha
or the organic potential adoption that Mocha has is huge.
Because once people learn that it's lifetime rewards
and it depends on the volume that the business generates
it's a no-brainer so i'm sorry kenton i think you know a lot too is like these people are
really motivated like you know we talked and even the bch um space we did kenton and then we had eric
join later i mean when we talked to the bitcoin cash guys, just an example, we said, Hey, you know, like Mocha is coming out and you know, you're going to be able
to accept payments. And then when we explained to them exactly how it works, it's like, this is
exactly what we had in mind. We were just trying to do it on our end, but with ThorChain Maya
protocol, now we now have the ability to just have a real settlement layer where people can sell
goods and services. This is huge. And like you said, Eric, XRP, we have Stone and others.
They're ready to go.
They're getting their MoCA shirts.
They're already strategizing how to professionalize it.
They want to make sure the pitch is correct.
And if the business at the end of the day can sell goods and services by saving the
margin, not spending on the fees right on visa mastercard
and such and such that's huge and plus the people who are going to be promoting it will be making
lifetime rewards you say that's a huge incentive so we'll see how it pans out i'll kick it back to
you kenton thank you guys so it sounds like the referral program is a Mahoka witness where you and your buddy go door to door to different businesses to get people to integrate it.
And you got your uniform, you got your hats.
Yeah.
Spreading the good word.
Good word.
So, okay, I'm a business.
I'm pro crypto, but I'm a small business.
You know, as small business owners, it's oftentimes a labor of love, you
know, they barely make 50 grand a year type thing, you know, you know, free and clear.
They, they need cash.
They need to settle in fiat to pay their bills and whatnot.
They're not ready to, to save in crypto.
How do you, how do you handle that, that? That objection or that, maybe not objection,
but that hurdle for the small business? Like, okay, I accept this crypto, but now how do I
get into cash? How do I pay my bills with it? So here's the thing, and there's probably two
main answers to this question. So the first one is you can tell the business or I would tell you, Kenton, a small business owner.
So look at the news.
Look at how the world is moving.
Everyone is speaking about stable coins.
Everyone is speaking about crypto.
There are ETFs.
There are treasuries.
The future is crypto.
So you can either be early or you can either choose to move to fiat.
If you want to move to fiat, we are not going to provide you the tools to do that because
we want to create circular economies, but we're looking into potential ways that you
can do it.
Or there are many off ramps out there.
Now, Kenton, the thing is, do you really get a lot of income from crypto right now?
Or maybe it's like three to five percent of your total business.
Why don't you look at it as your way to stack crypto or as your way of, you know, TCA into what the future might be?
I'm not going to tell you to do that, but maybe you should do your own research.
Now, yeah, I know that you need cash flow, right? Well, here's your chance to use that crypto. And you remember how Denny onboarded you to Mocha and he's earning some fees from your transactions? Well, why don't you do that with your vendors? Tell your vendors if you're selling bread, tell the person who sells you the wheat,
hey, why don't you start accepting crypto?
And we can create a circular economy where everyone uses crypto
and you will earn something from your wheat provider.
Because when they do a swap, you are going to earn some commissions, right?
So you're early, right?
It's not going to be tomorrow, but in one year,
you are going to be part of a circular economy that you started and when crypto goes really really wide and it like everyone
adopts crypto you might be i don't know maybe you onboarded half of your neighborhood to mocha so
you're going to be on a spot you're not're not going to be making $50,000 a year.
You might be making twice that.
Eric, you're making it too easy for me to make fun of you.
So it sounds like an Amway pyramid scheme.
You got to get all your friends to come and buy it
and then convince your friends to sell it
and then they'll sell it.
I'm teasing.
I know that's not what you mean.
I'm teasing you.
I don't know.
It's fine.
But you're right. There's also... sorry to interrupt content good but um there's also something that we can
add to that and is that once we have our a large enough our network of businesses we can enable the businesses to sell their Mocha balance or their tokens,
transfer them to a user, and they get their fiat with no KYC. So a user can come and buy crypto
basically from all the Mocha businesses because we're going to have a map where you can find them
and you can register and say, hey, I want to sell up to 200 bucks in crypto.
I have the Moka balance.
It's 200 bucks up to that.
And I will want to receive cash.
Somebody can do that with no KYC or they can do the opposite also.
So that's a good idea that was so the the bitcoin one of the bitcoin maps i go to here in
cayman uh the guy started seven mile bitcoin so he was kind of copying bitcoin beach from el salvador
and one of the goals was to try and create a circular economy in cayman because actually it's
really difficult to buy crypto here because none of the banks allow wire transfers to or from the crypto exchanges.
And so it's really cumbersome, especially like small dollar amounts.
Like if you're talking 50, 100 grand, you can deal with an OTC desk.
It's fine.
But for the average person who wants to start with a few hundred bucks or a couple of grand,
it's actually quite difficult here.
And that was part of the goal is to try and not only just to get businesses to accept Bitcoin, but then when they want to convert to fiat, they can just, you know, sell it back to the community, create that circular economy.
And basically, you know, as tourists come in, they spend with Bitcoin and then locals can buy that Bitcoin with cash.
spend with Bitcoin and then locals can buy that Bitcoin with cash. And it's kind of a way to get
Bitcoin into the country type thing and enable people to buy with cash and everyone's kind of
happy. So yeah, I totally get it. It makes sense. Yeah. So the thing is that it needs to be like
stagger releases or thresholds of number of businesses available.
You cannot have that with only one business in the city because it won't work.
But once you have a lot of businesses working and a lot of people paying in those business, then it makes sense to do that.
The thing right now is we're aiming for people like us that already know crypto and want to get crypto.
Like Eric says, like, I know I'm going to get crypto like Eric says like I know
I'm gonna get maybe one or two payments a week in crypto when I start but I can start
saving that and do some savings for crypto just keep living in there then we get more
businesses and more users and that start getting more more normie like and then it's it starts to get easy and then
we have the mocha balance and people that don't know anything about crypto they say okay this
this works i don't know i don't know how it works but it works so it's easy like i put money into
this and then i get these us dollars and then i can spend it in these businesses and then they
realize that their favorite coffee shop now accepts that money that they have, and they start using it. Yeah, it's a hard thing to do. But I think it's
a problem for a year or two later on. And we are already thinking of that.
Have you guys heard of ether fi? You're shaking, you're nodding your head, Eric. So Ether5, for those of you who don't know, it's a credit card that you can charge with
stablecoins.
And I actually just signed up for one another day, got it approved within a half an hour,
loaded with some stablecoins.
I just went and spent it yesterday.
I got a virtual credit card, uploaded to my Google Wallet, and then I just went and used to tap. So you can, I got a virtual credit card,
uploaded to my Google wallet,
and then I just went and did tap pay.
Worked no problem.
And I have a buddy, he's been using it now for a few weeks.
It's worked everywhere so far.
Like anywhere it takes Visa.
So, and you can even do a business account as well of a business card.
And so that might be something you guys offer as a solution to these
merchants is that, okay, they accept payment in crypto,
they can settle in, in a stable coin and then send that,
they can create an ether fight credit card. You know,
at the end of the day, end of the week or month or whatever,
they can transfer their stable coin onto the ether fight credit card, you know, at the end of the day, end of the week or month, whatever, they can transfer
their stable coin onto the Etherify credit card, and then they can go spend their card, you know,
pay bills, do whatever they want on their card. And that's a way to off-ramp their crypto and
they go use it and go spend on their day-to-day. That's an idea for you guys to help these merchants.
Thanks. That's a great idea. And I think that's a good solution for it at the current state.
And yeah, we for sure need to see what is the best off-ramping solution. And if we can have
some automation with them and the less intrusive solution will be the best for for the businesses of course uh yeah but
but it's it's something that i was talking with the ruji team yesterday and we we need some pieces
of the puzzle still that are not out there yet to make that work seamlessly enough that the user only
clicks a button that says withdraw and they just receive
the bank transfer in their fiat account we are thinking of that but well yeah now that i'm
thinking about it the merchant might even be able to set up that they're receiving
stablecoin address is their etherfy credit card and so so as soon as the sale is made,
it automatically settles right onto their card.
And then they can just go spend it at will.
So that would be,
I'm trying to think from the merchant's point of view, right?
What's their friction?
What's their holdup, right?
And trying to make their life as easy as possible.
It's the last thing they need is more steps.
So yeah, that might work.
I feel pretty sure.
That might work.
That might work.
We might actually ask for your help, Kenton,
and you can set up a business
and put your Ether address for Etherify
and then we'll test it.
It might work.
Yeah, because it's just another address right and um whether it goes to your metamask address or your etherfire wallet address yeah right yeah but
remember that there's some issues uh with thort chain and i think maya has the same thing that if
you deposit to some routers you can lose your money there so if etherfi is using
routers everything goes to fees and then just stays there and you go to zero in that transaction
we need to test that like it might look like just another address but the tech in the background it's
also important so a little bit here thank you yeah but it's just a matter of testing and it might be
easy and it works and then that's a pretty nice solution
yeah yeah i there's two things with it i i feel pretty strongly stablecoin usage is going to
explode over the next few years like the us is really going to support it and push it um
and we're all going to be using it i feel like within the next 10 years everyone's going to
be using stablecoins whether they know it or not but But then the other part, I can't help but wonder is like,
I mean, is it, when it becomes that easy to spend the crypto, like, like opens EtherFi account
pretty easily. I saw the do KYC, you know, like the, you know, all my personal info and all that,
but it wasn't as onerous or as egregious as like a typical
centralized exchange does so i'm i'm just wondering if if maybe they'll clamp down on it
maybe they will support it i don't know um because if it's if this etherfire is really working and
gains traction i gotta think there'd be dozens of more wanting to copy it
and do the same.
So, and if that's the case,
it should get easier and easier and easier
for people to start expending their crypto.
And if that's the case,
it should become easier and easier for merchants
to accept crypto as payment.
So, hopefully that continues.
Yeah, I think that's the future and we're going that way.
The thing is an ideology matter because EtherFi, what needs KYC, even though it's not as intrusive,
it still wants to know who you are.
And still they are using MasterCard visa at the end to to settle to the
business and then they're paying the fees for them and maybe the the business that is currently
accepting that transaction with the only tap and pay they are still paying five percent of that
transaction just to use the system so that's what we are fighting against What why are you paying so much for this that it should be?
Almost near zero fees. Why do you need to tell who you are to spend your earned hard-earned money?
Like why should I do that and that's a matter of ideology at the end and we're fighting for that freedom and we want them to
It's fine. Like if you if you want to give your
your data away well good for me like i have no problem with that and i like google has my data
and they know who i am and well the the government does know who i am because that's how the world
we live in but we are trying to go against that trend because we're giving away so much
every day like they ask for more information they ask for more control and that's because we're giving away so much every day like they ask for more information they ask
for more control and that's what we're fighting for so i think yeah it's going to be easier to
use crypto on a daily basis every day it's getting easier there's more merchants there's no ramps but
if the way to go or the way that they are trying to make it work is just like a bridge into MasterCard and Visa
I don't think that's the way that it should go. That's my personal opinion
It works. Yeah, but then you're you're not changing the system
You're just getting the money that it's in crypto back into the system back into the MasterCard and Visa in the fiat system
MasterCard and Visa in the fiat system instead of the other here.
Instead of the other here, but it's
That is.
Sorry, I didn't mean to interrupt you.
Keep going.
No, that was the end.
Like we're trying to get the value out of those regulatory systems into crypto.
And then if what they are planning and they want us to do is go back into that and just
get the crypto and put it back into that.
That's not the way that I want to go or that I want my my children someday to go.
So that's why we are building this.
You're totally right.
Like the Etherify thing is just like a necessary evil.
But I think it's I think it's just it's a step towards where we want to end up, right?
So, like, for example, let's say that works.
You guys actually run with the Etherify idea,
and you're getting merchants adopting Mocha,
and they're cashing out to their Etherify card,
and you are starting to build that network of merchants and people using Mocha,
then eventually they're going to
figure out understand well wait a second we can like you said earlier we can start using mocha
we'll start settling through mocha and avoid settling on visa or mastercard and because the
merchants they they know themselves right how uh how much visa and mastercard custom and once they figure out they can start avoiding
visa and mastercard and settle with each other through the mocha point of sale app um then
they'll start doing it so the stablecoin credit card might just be a good you know um yeah yeah yeah yeah yeah yeah cool it makes sense it has to be a a entry step you
know to get them working but yeah at the end of the day just thinking about a simple ui version
of it is like do you want to put your money into ether ether 5 and it will cost you like five percent and you
want to keep it in the mocha ecosystem it's zero percent you choose so yeah i i think that's
something that can work later on cool eric we can't i or i can't hear you
hear you. I'm on my speakers on the my mic, my speakers on the
space. I can't hear you on the space.
Yeah, I can't hear you on the space either. You're on the
live stream, of course, but not in the space.
For you guys listening to the space where we're recording a
We're recording a live stream as well as doing the space.
live stream as well as doing the space. And
And trying to get, Eric was talking,
but we couldn't hear him on the space.
Okay, can you hear me now on the space?
Yeah, we can hear you.
Yeah, there you go.
Nice.
So, and here's the thing,
it also happened with fiat back then,
and it happened with credit cards back in the 90s.
The power of any currency or any new tech that gets adopted is the network, right?
Fiat has value because people accept fiat for goods and services, and there's someone backing that.
They used to back it with gold, whatever.
But yes, this is just the one of the first steps we are not the first ones trying to uh make crypto adoption but we are one of the few that wants to make crypto payments settle in
crypto uh most of the and i don't want to say 100 because there might be an outlier but we did a lot
of market research and all of the credit,
well, 99% of the credit cards
and the debit cards that deal with crypto,
they are just a glorified off-ramp
where you pay with crypto
and there's an off-ramp in the back end
and the business receives SEAT, right?
That's great because you're actually giving
a use case to crypto in general,
but in the end, that's not real adoption
because the money is leaving the system.
Well, the crypto space is...
The assets are...
The value is leaving the crypto space, right?
So what we want to do,
and that's why we hammer the term
circular economy so much,
because what's happening with fiat right now
is that there are circular economies.
They could be using rocks,
but they are using dollars
because that's what most people accept. But once people start looking at the value or
identifying the value there is with accepting crypto, they will not see a need to run back to
fiat. It might take a while, but we're basically one of the few ones that are pushing for this.
But we're basically one of the few ones that are pushing for this.
And like Zay said, it's an ideological stance.
But yes, we want to give you the tools to off-ramp.
But the point is that you learn that crypto, and we know it.
People in this space know it.
But people outside, they are going to need a bit of hand holding and a little
bit of um teaching from our side that everything we know about crypto and why it works and why
we choose to live in crypto and we work like all of us we we basically spend 16 hours a day doing
crypto stuff so we just have to share that that vision with the people who are just trying to
make a living and how they can make a living in a better way right yeah yeah i think that's one
of the things that's when i try to figure out timing wise like were you on ramp to crypto crypto
but then you don't need to off ramp right and it becomes truly circular and i think the arguments
you make to the average person are not that hard i I mean, right. Everyone's seen a bank run on TV in various countries, various circumstances and
say, you know, if that happens here, it happens to you. Well, you are your own bank. You take
custody of all your funds. If you've got $20,000 in the bank, well, that's an IOU. Essentially,
it's a permission form of using your money with Mocha or blockchain, right? You are in control. You'd
never have to worry about losing access to that. It's literally yours. And I think that's going to
be the big selling pitch. And maybe it's going to be a really harsh example. Maybe it's going to be,
because we did have recent, like a lot of bank failures. What was that a few years ago? Not in
the United States, but I think in other places as well. I mean, I think it's going to take just a few catalysts where it's like a big wake up call,
where you have people who are stuck in the fiat side, they're unable to transact,
they're unable to live. And then you have people who have moved over to the blockchain side,
and they have absolutely no problem. It's hard to figure out. It's a lot of ambiguity there when
that transition takes. But I think it's coming because, as we've said, the advantages are quite clear.
maybe even longer. And I'm sure you, and everyone has experienced this.
You go to a restaurant with your friends, you know,
if there's more than five of you, 10 of you,
and you're splitting the bill, you know, the waiters, you know,
annoyed kind of split the bill with 10 different people or they won't split it.
And then everyone's arguing for, you know,
half an hour trying to figure out who owes what.
And then nobody takes into account the tax or the tip.
And so somebody's always short
and someone's got to pay extra. And if you pay for me, I'll Venmo you. I'll pay someone cash,
pay someone the cart. It's just a total nightmare to pay a restaurant bill with a group of friends
for everybody, right? The us and the waiter. And I'm like there's gotta be a solution i it blows my mind that some
tech guy has not figured out an app to to simplify all this where we the bill can come on to you know
we can all order whatever bill can come to the table and we can all like i know there are some
apps like like splitwise and tab and stuff like that, but they're still a bit cumbersome.
You can't really pay through them.
There's got to be a way that, you know, have an app where, you know, it's connected.
Now, I was thinking like connected to Venmo, your bank account, whatever.
But you can have it supported by crypto where you could, you know, this bill shows up to your table and you suck what's yours and whatnot.
And it goes because paid automatically.
Like, you understand what I'm not being very eloquent in my solution, but you understand what I'm trying to say.
Have you guys thought about this? this. And like, I feel like that would be like something that's how you, in my opinion,
this is how we get a crypto point of sale system into merchants is when, when you're solving a
real problem for the merchant, not just selling them on crypto, but like, how are we making your
business better? So you can go to a restaurant and say, listen, this is a nightmare for your waiters. We've all dealt with this.
This is going to solve it.
And you support crypto.
What are your thoughts there?
Any comments?
Yeah, I am smiling and laughing because when you were saying all of this, I was like, okay, so here's the thing.
And Zay will be the perfect person to answer this.
But I'm going to prelude that.
Zay has this roadmap on his mind, and we took some time to put it into paper and see how things go and establish deadlines, milestones, etc.
And Zay comes from product, right? So he has, the thing that you just
mentioned is basically, well, we already have a solution for this. And we, of course, we cannot,
well, I want it, but I can't share what the other app is. But if you think that the crypto payments part is cool, the other app, it closes the loop and it makes people be able to pay tabs.
Well, Zay, I don't want to spill the beans.
So why don't you expand on that?
Yeah.
So the thing is, we've thought exactly about what you're talking about
Kenton exactly the same solution because we know that once Mocha has a
really good network of businesses and users each product that we have it's
basically gonna become its own thing like it's gonna become its own solution
it's some meaning company and it will have its own benefit in mind and for
the point of sale specifically we've thought about that and this is the first part of it this is the
first version this is okay you are allowed to charge people with uh crypto and the good thing
is that it's way cheaper than using these and massacre so that's the first
thing that's gonna be free for the businesses and that's how it works then we can add in have a b2
or a b3 or then we can have something called the mocha restaurant point of sale and that's
specifically for restaurants and then we put all these amazing things and then you pay a subscription for that and then now you can use all these amazing software that is
natively integrated or we can work with current softwares for restaurant and let them use the
mocha point of sale or the mocha api and charge with that and then we can integrate with there's
a lot of things that we can do but specifically what you said kenton it's something that it's on the roadmap in paper on the office
in mexico for the other app that we for sure would like to disclose it and talk to you more about and
then we can be here in some months from now in this space now only talking about that app i know you're gonna love it
sorry but i cannot share more about it but i i can assure you you're gonna love it and
it's it has that in mind so yeah yeah yeah and there's gonna be accounting there's gonna be uh
you know uh split tabs where we're gonna to have username-based transactions
and stuff like that.
But, man, when I saw the POS draft,
well, not draft, we already have this
and it's going to go live on the release,
which we'll talk a little bit about that in a bit.
But when Mocha Point of Sale goes out,
restaurants will already be able to set...
Oh, Eric, we lost you.
We lost you on the space, Eric.
Oh, I thought it was my internet.
Yeah, sorry.
Someone's spamming me with calls.
Sorry about that.
All the restaurants that want to incorporate Mocha,
the Mocha witnesses are doing a good job right now.
Okay, so there's this restaurant.
They create their own business account and then the
waiter just scans a qr code on the pos and then they get their own tab and they can charge people
from their phone or from an ipad whatever and and you can have 15 waiters with custom tips
ready to charge customers for for their uh for their meals and And this is already on V1.
So the focus is 100% consumer app
where we are solving the needs of the business,
the restaurants, the stores without...
So it's not a bare bones solution.
It's not just a QR scan.
We're going to give the ability to the business to customize pretty much everything.
So, yeah.
I got a question.
Can we, go ahead.
So we come out with multiple primitives.
I know you can't discuss them all, but is that all going to revolve around the MoCA token?
Can you disclose that at least?
Or will there be a separate infrastructure?
Every piece of revenue that Mocha generates,
it's not going to go to the team.
It's going to go to the token.
We still have to disclose all of the details,
but yeah, all of the value that mocha generates will go to uh to the
ecosystem not to the team of course the team will have some some stake on that but we don't make
money if mocha doesn't make money yeah so so um just just to be super clear so you guys will be
making more you know more things more um primitives more things all of that you know there's mocha point of sale blah
blah blah blah that will also be connected to mocha as well that's right yeah all of our value
all of the value generated from the ecosystem is going to go to to to the ecosystem back through
the token there's not going to be another token there's not going to be more emissions it's a hard cap uh we're not going to come up with another token we're not going to come up with um
oh yeah so this revenue goes here but this revenue goes goes to the treasury or whatever no
um from day one they they has this this mindset of the only way that we win is if we make everyone win.
And it actually brings a little bit back to what you said, Kenton,
about the pyramid scheme and all of that.
You know, the cool part is that the rewards are not coming
from the platform's activity that we are incentivizing.
It's coming from real-world economic activity.
So it's real world earnings
that are already happening in the outside.
And we are just funneling that value
into crypto, into Thorachain, into Mocha.
So we don't have to incentivize people.
Oh, you have to go buy groceries
because that gives you rewards.
No, people are going to buy groceries either way they they're just going to have to choose if they do it with fiat or with
crypto and the rewards are going to come from that so it's not an incentivized or um what's the word
the antonym of organic it's not a synthetic um activity it's not something that, I don't know, let's say from a perpetual perspective,
you encourage people to do leverage on your platform because they know there's an airdrop
coming and the money comes from either a VC or comes from the economic activity that you're
incentivizing. Once the incentive goes away, the people go away because there's no incentive anymore but uh
in this case the incentive is real economic activity that's already happening and that's
never going to go away so yeah it's it's it's so exciting man because the market i think if i
remember correctly visa and mastercard just those, they handle like $30 trillion a year.
Like just bringing 1% of that volume to ThorChain would be huge.
We'll take it.
Yeah.
So, yeah, I was totally just teasing about the referral program.
I mean, you definitely need one, 100%, right, to help with adoption.
You know, I'm trying to figure out a referral program for Thor chain, you know, we need to figure something out too. So absolutely. So I was just thinking about this, I keep coming at it from the angle, you know, how do we convince the merchant? How do we, you know, now I'm thinking, okay, but what a second, what if the merchants are on board, but they have a hard time convincing their customers to use Mocha?
And so is there a way for the merchants to motivate their customers?
And I was just thinking, can they have a points program, like air mile points or whatever, so that if I'm a dry cleaner and I tell everybody to use Mocha,
they're going to collect points to get 10% off or something.
Yeah, go ahead.
I want to answer that one.
Yeah.
Well, there are many things that really incentivize the users.
One of them, and I think that's going to be the biggest one,
is the app that you're going to know about after this meeting, because I'm going to tell you, Kenton, so that you know what we're talking about.
But the other one is the revenue sharing of the fees with referrals.
It's another incentive, because then if you can to know that you're going to get money every time Eric does a purchase, then you're going to make him use it because it's money for
your lifetime. So that's another one. But how can the business incentivize it? First of all,
if they don't have any usage, we don't charge them anything, first of all. So even if they
have the system there and they have the app on their phone and nobody goes to the store and ask for paying with crypto, that's good.
We're not charging for the business like, oh, you got to pay every month 50 bucks just for having the system.
So that's something they have to worry about.
At least that's good, especially at the beginning when we are trying to get more people on board.
on board but since they are saving three percent five percent one percent if they get paid in in
mocha instead of these are mastercard they can do that like they can say well i'm still charging that
three percent in my price right now because i'm not losing so i'm gonna still gonna charge that
but i can offer a discount to the users if they pay with mocha
if i'm paying five percent fees with card i can go at three percent discount if you pay with mocha
i'm still saving two percent but i mean incentivizing the user to do it so that's something that they can do if they really want to bring more people into the system they can do it
system they can do it also we are talking with uh some uh chains and some tokens that they want to
be part of the mocha ecosystem and see how can we do something together and maybe there can be like
also a cash back that it's gonna be shared with the token or the chain and mocha and then we we instead of charging uh 50 bips we charge uh
uh well we charge the 50 bips but the referral go back to the to the user you know so it's like a
cashback if you pay with a specific token because they are paying us for that so we we can do a lot
of incentives for bringing them there uh there's also things that we can do,
like if Mocha is getting the 50 bips,
we can do maybe there's this chain of coffee shops
that is really big and we really want them on board
of the Mocha ecosystem.
We can tell the business, hey, be part of it.
And then for the first year,
the Mocha part of the fees will be shared with you.
And now, like MoCA is the referrer for that business for one year because we made the calls and we had the reunions and the meetings,
so we're basically referring the business.
But we were telling, I'm going to share those fees with you for a year.
for a year so that's also revenue that they are gonna save up it's a little mark
So that's also revenue that they are going to save.
wise and at the end what we want is incentivize the use of the system through the users and through
the businesses we need both like there there's no like there's no businesses without users and
there's no users if they cannot spend their their value somewhere. So we're thinking a lot of it.
Everything that I just shared is something that we have brainstormed about.
It's not set in stone.
And for sure, I know that your community is great,
and they can share lots of ideas of how we can make this work.
We accept ideas.
Just tweet something and tag us, and for sure we can see if that can
happen as long as we keep the values that we have and the ideas that we have and something that i
think we haven't said in this in this space is that we since we are trying to invite the wallets
and and merchants and any wallet that you want even if they don't support mocha or oh i mean port chain or maya if they don't support it it's okay they can use it even if they don't
have natively that in their system because we are generating the memo for them so they can do the
transactions but since we want them to be part of it uh we we really want to give them that tools.
Like I think you mentioned Stone earlier.
He asked for videos and marketing material
and a lot of things for the business,
like something as simple as a sticker on the window.
Like we accept crypto here.
People's going to ask, how am I supposed to pay with crypto?
Like, can I pay with Satoshi wallet?
They might, they might not like, yeah, we're thinking of many, many things that we can do.
So if you have ideas, please share.
You got to have the sticker for the window.
That's right.
So like going back to that cask, a whiskey bar here in Cayman,
they put on a, we accept the coin sticker on their window and like people notice it,
you know,
they,
and so yeah,
yeah.
You got to do something like that.
And like,
you know,
you know,
the crypto crypto community in general is usually pretty supportive.
Right.
you know,
like people will go out of their way to use a business that supports crypto.
Right. So they should, the business their way to use a business that supports crypto.
So the business should want to advertise to try and get that business.
Yeah, and the community is everything right now.
Since we're in the early stages, we really need the support of the community for this to work.
We can spend millions in marketing, but at the end of the day, the people that already have crypto is the one that's going to pay with crypto because that's how it is. And if you really think that what we're building, it's interesting and it's something that we need out there, be part of it.
You have a really good motivation for doing it. Imagine you want to go to your
favorite coffee shop and they don't accept Mocha and you want them to do it. Well, instead of
seeing it as a bummer, oh, they don't accept Mocha, see it as an opportunity. Oh, nobody's
come here and offer Mocha. I'm going to be the one. And every time they get a transaction,
well, I get money. So instead of seeing it as, oh, well, sorry, I'm going to leave and I'm going to be the one. And every time they get a transaction, well, I get money. So instead of seeing it as, oh, well, sorry, I'm going to leave and I'm not going to pay here.
Well, onboard them. It's free for them.
So we have a lot of benefits for the business compared to the traditional MasterCard and Visa solution.
So that's also powerful marketing way to do it.
And we're going to have those videos in the website further. I think by next
month, they're going to be there. It's going to be marketing material and it's going to be
onboarding material for businesses and also some onboarding material for users. So yeah,
please help with that. And I know it's something that you can actually get a living out of it eventually if you do like the
right businesses in the right now uh patriot anything else we open the floor here for speakers
for guests that come up i don't see anybody requested anything else you want to talk about
one thing i could think of was i just thinking of ideas of just how like the big that was thinking
of the sticker right i'm thinking of the qr code and i'm thinking i was thinking you know maybe maybe your taxi driver's listening
this right now you know what i mean how do you how do you promote this thing and get that revenue i
was thinking i don't know what you think about this this is me just thinking on the fly but if
you had a qr code it would send you to the mocha like a mocha to download but the first thing they
would see is a video that just plays right away
explaining exactly what it does in an efficient quick way and why it's better than the conventional
system but on that but you still the person who has a qr code like it's your own qr code they still
get the credit if they download the app and start using it i don't know if that's possible but i'm
just trying to think of a way like the moment where someone you know they they take the they take the bite they bite it
right how you would convert them to immediately understand why this is better than what they're
using now like i'm thinking about business owner you know i accept money cash visa mastercard
obviously you know immediately tell them why is this better why you should download it why you
should promote it you know um that's what i'm thinking but uh
i don't know how you feel about that but i'm just trying to think of like from like like kenton
said and you said like from the from the business's perspective like why they how they would
convince people to use it and the person who's promoting like me how you would get a business
onboarded immediately but yeah really really cool guys but yeah we can open it to questions i think if if you guys have nothing else i think we've been pretty thorough unless
um eric if you want to put up on your live stream any you know any shots of the of you know the
interface or anything like that while we're talking in the background so when we upload the
live stream you know people have something to look at um but yeah
know people have something to look at um but yeah
yeah 100 and um i don't know if um so for example i mean i kind of want to share so
people can create their wallet in under one minute and then they can create their referral
coded under in under 20 seconds and then they create their business under one minute and then they can create the referral code in under 20 seconds and then they create
their business under one minute as well. I kind of want to share that because it's ready. Like I said,
we are 99% ready for launch, but I don't think the space will be able to see it, right? So it might,
I'll just put it in the background then yeah we can you know we're
gonna upload the the live stream later and you know what i mean then then yeah well you guys
can have that you can use this material or whatever for sure to to help promote it but uh yeah i mean
you guys are really close uh super exciting and again congratulations i know zay i don't even know
how you even are alive right now i know you you've been working really, really hard. Your whole team's been working really hard. Eric
is always out there promoting. So, you know, kudos to you guys. Very excited to see this
get off the ground 100%. Thank you. Thank you for those kind words. Yeah, it's been tough.
I've been awake for more than the necessary hours i think but yeah i i'm supervising
everything personally i really want this to be what you deserve uh i think that it's important
for crypto to have a good user experience especially since we're aiming for normies we really need to
have a way for them to understand what they're doing even if they don't know
what they're doing I don't know if that makes sense there's there's this thing
and Alex I think was the one that shared this thought with me and he says when i go to a restaurant i just want to go sit rest and eat
like have a a chill meal and that's it i don't want the chef to come out and drag me into the
kitchen and show me how he does everything and look look this is how we put it in the oven and
this is how it comes out and this is, like when you go to a restaurant,
you don't expect that.
You just want it to work, like order and get the food and eat.
And that's it.
And that's what a lot of, uh, of the decentralized crypto ecosystem does.
Like they want to show you all the tech behind and they want to tell you like,
Oh, look, this is happening.
And this is happening.
And the normies don't, don't even know a lot of the terms that we have here.
So that's what I am checking on our app.
Like, how can we make this simpler?
And how can we make this smoother?
And for the launch, that's what I'm expecting.
Like, I want to have a good product.
I want to have something that when you see it,
you can understand from the get the get-go like you
download the app and you know what you're seeing uh i want to have something that is reliable yeah
so so i'm checking that and eric is just uh showing right now here in and you'll you'll
space you'll be able to upload it but he's showing how to create the wallet and maybe he's gonna go and create a
business later on but yeah uh i i don't know if kenton or you have have seen the the point of sale
but i show it to the ruillera team some of the people that were in the meeting i gave my phone
to one of them with with the point of cell open and it was interesting to see him start
using it without me explaining how it worked and he he really knew how to use it from the get-go
so he was intuitive and it's hard to do that with crypto like how can i make crypto work without
being like a a mess of of different options and and different types of transactions and all of that
all these tokens out there all these different type of memos transactions chains uh whatever
like even even torchain has streaming swaps and have trade assets and secure assets and native
tokens and a message deposit and all these things and but the user doesn't want to know that they
don't want to see it so yeah i don't know if this makes sense but it's hard to make it simple
that's uh i think i feel like that's the key for mass adoption making it simple and once it's
you know everyone's i know i think feel like that feel like that's the, that's the missing piece
in crypto right now.
Yeah.
Yeah.
Yeah.
Go ahead.
Go ahead and explain what you're doing, Eric.
Eric, can't hear you on the space.
I can't hear you on the space, brother.
Eric, you, on the internet. space i can't hear you in space brother eric you on me i can't hear you eric
what's going on guys well i don't know if he's showing it's a very beautiful layout
can you hear me now yep yeah sorry I have like a hundred tabs open uh okay yeah so what I did was just
um I created a wallet uh I created a referral code and then I created a business and now I'm
gonna use the wallet the referral code which isream. I'm going to create another wallet and I'm going
to use that. Let's create a new wallet. And you know, what Zay was saying is that you, oh, sorry,
I forgot to use the referral code. Yeah. So HelloStream. But the thing is, the launch is almost ready.
It's 99% ready.
But like they said, we only have one shot at letting people onboard businesses and onboard their friends and say, hey, this is a payment application using crypto.
using crypto, you should use it, right? We only have one shot with consumer apps, especially
You should use it.
because people are used to web two or traditional companies launching things and they might be
buggy, but not, they are usable, right? So right now we are on that stage where, like I'm showing
you right now, things work, we just need to polish them a little bit better, which is not going to
take long so that the end user, which is, which could be your mom or it could be your cousin,
they can use it seamlessly.
And I think that, like Zay said,
the main thing that we owe the ThorChain community,
which has been very supportive with us,
is to bring the best version of Mocha out there on the first run so yeah yeah no one no one cares
about when your launch date is like a new person being introduced to mocha they could not care less
when the launch day is their first impression is going to be literally the first time they
see the app and whether or not they want to use it right Right. So yeah, take some extra time to make sure it's just
a sleek, you know, smooth onboarding process. Because like you said, you only get one impression,
right? That's it. One first impression. And that is so, so important where it's just really like
low cognitive burden, very intuitive. You make your wallet, you connect it, you, you know, you,
you figure out what settlement currency
you're going to be, blah, blah, blah, blah, blah. Yeah. Get that down and then you guys
are ready to rock and roll. Cool, guys. We have any, anybody want to come up to the stage
and speak? Eric just created a...
Oh, sorry. Sorry, Tenson.
Good. I'm just inviting anybody listening
if they want to come up, ask questions, anything, any comments.
I don't see anybody requesting.
So if you have requested, I apologize.
Yeah, please do.
Another bug in spaces.
But yeah, go ahead, Eric.
But, yeah, go ahead, Eric.
Eric is now opening the point of selling the web version.
Can you hear me?
Yeah, I can hear you.
It's for people in the space to know.
We have a live stream video call going.
So Eric is sharing his screen and showing us some stuff from the Mocha POS.
his screen and showing us some stuff from uh from the mocha pos
let me see if it works from
yeah i'm unmuted let me see if it works from my camera from my desktop camera to scan the the qr code
QR code.
Let me check.
Okay, scan QR code.
Yeah, I need to.
Yeah.
It's a scanning.
I saw you on the camera from the QR code.
But let me try to explain to everyone here in this space what's happening right now.
So Eric opened the Mocha app in the web browser so that he can share the screen right now.
And he created two wallets
he created first one wallet and then he created a referral code from that wallet then he created a
new wallet a brand new wallet and when he created that wallet he placed the referral code from the
first wallet there so now the the second wallet is linked to the original one and every time that
wallet creates a transaction for paying in the POS the original wallet will get
part of the fees for that and this doesn't mean that the transaction will
be more expensive for the user because we're always gonna charge 50 bits what
it means is that mocha wheelchair
part of the 50 bips that is for mocha to the original referral so that's how it works then
he's going to create a business he actually created the business and he is trying to open the
mocha point of sale and he's going to scan QR code that it's on the wallet that he generated
the business with the point of sale can be used the mocha point of sale can be used on on a web
browser can be used on the Android can be used on iOS so if the business already has a phone there
or a tablet they can use it there.
Or if they don't have a computer, they can use that.
They can go through the browser or they can do it with an ADVAC.
Once they scan the code to link to the business, that's everything they know.
And that's everything they need.
Because the point of sale doesn't have any information any private
information of the original wallet what it does is that it only has the
addresses of the business so there is no risk of keys being stole from a
business or the Wi-Fi of the business because they don't know that they don't
have them in the point of sale once they scan and they they are
linked to the business the point of sale opens a window where it asks for a pin code so that you
can lock the point of selling in case you have a tablet that it's available for everyone in a
restaurant for example they just pass there so that nobody's like clicking it and and just doing something
with the tablet so you can lock it down and have a a custom theme for it you can also have multiple
accounts in one tablet or in one device this means that if you want to have accountability of who's
the waiter of each transaction that you're doing you can do that that. We call them orders. So you can know which waiter in a restaurant
did which order and you can change and everyone can have their own pin and the admin can reset a
pin for any waiter and they can see all of them. They can create new waiters. They can delete a
waiter from the device and all of that can be done from the point of cell one once you have access to the point of cell you have your pin and you unlock it
you will see a window where you see like a pin pad and you can it looks like a
keyboard a numeric keyboard you just type in the number that you want to
charge you can add a custom tip or one of the predefined and then you you you hit continue and the code without your call
you can pay with the mocha wallet or any other third-party wallet that supports
the mocha ecosystem and that said the business real-time knows if you paid and
they can even see the the transaction status in the mocha explorer so that's what he's doing right now and if you go back and
see the live stream you'll see what what happened here i don't know if it was clear enough
that's pretty clear i actually have a question i kind of want to go with the kenton theme a
little bit here let's say okay we got kenton's store here and um let's say i'm a gold and silver um dealer right and um i you know that's something
that i want to sell and i want to use mocha as a way right to sell gold and silver um does the
does the app have the ability like because you know gold and silver, the price fluctuates every day, you know, and
does it have an ability to tap in to like a third party, like, you know, API or something
that would track the value of the spot value of gold and silver?
And then, you know, Kenton could set like a parameter, like, you know, charge this percentage
above or below or something like that.
Is that something that we currently, that would currently happen?
Not at the current stage remember right now this is the v1 and what we are enabling them to do is basically replace for the same features of the credit card point of sale you know the
credit card terminal that they have that's the same thing that you're doing here currently you cannot set products we are going to have that on the b2 and we're working on enabling like
custom buttons with products and enabling to have prices and maybe something like that what you're
asking but this version of the point of sale is basically the credit card terminal but for crypto
is basically the credit card terminal but for crypto
gotcha okay yeah i was just i was just playing with ideas here um i know you know this is
obviously just going live but uh this is really really cool you guys i'm really digging it i love
it um and uh yeah it seems pretty intuitive to me how it works out i'm excited to see this thing and
uh you know work in real time uh did you have
anything you want to add to this content at all or anything no i think i'm pretty good i'm i'm
i'm getting tapped out for questions
okay um if anyone else wants to come on stage uh now's the time to to request um but you know
this is pretty clear I'm excited to get
this live stream out so people can see it very very cool guys very happy like I
says been a long time coming but yeah I don't I don't know if you want Eric to
do something like simulate a lot of purchase or something like that like hey
I'm in a restaurant and I want to pay my tab
I don't know maybe he can do something like that
So that the users have a reference a point of preference of how it would work
or maybe from the side of the business or the or the manager of the business and he can show you what the manager can do
like I don't know if you want to ask him something like that or like
keep something like that or like that that might be interesting for the stream
That might be interesting for the stream
yes i can do that i i just find it i i kind of want to show um okay so
well you're gonna watch with the camera but i need can you i need buttons i I don't think on this wallet I have.
Wait a second.
Let me just send some small funds.
I'm going to pay with.
Okay.
It's going to take a little bit because I have to send funds to my Mocha wallet.
Or I can just show you. No, it's not gonna be complicated.
Some funds here.
Well, the wallet, you know, the seed phrase was,
oh no, we're the only ones that can see the live stream.
So we're safe, nevermind, sorry.
No, no, no, but he's gonna use his wallet,
he's gonna use the wallet that he has on his phone
to pay for a qr code and see
how it looks on the point of sale uh that i think that's what he's gonna do yeah it doesn't matter
if the if the seed phrase for these demo wallets it's out there like you can have it yeah it's
just gonna be five bucks or something i'm gonna open okay i'm gonna send usgt to okay tron might be fast oh no tron
is not on okay um why don't you use rune yeah no but i'm on a mexican um okay yeah i'm a bit so so i have some funds too don't worry um i don't know uh there's no
questions like while eric does that i don't know if somebody has a question or ideas we we can also
do a lot of ideas on on the space people here just raise your hand request to come in and speak
no we don't have any is it okay to see
hello yes yeah hi guys um i literally uh just stumbled upon Mocha Wallet four days ago. I joined the Discord today. I thought it was an interesting platform. But I do have maybe one or two questions. And this is with regards to ecosystem partnership. in your conversation was the part where you were talking about onboarding people onto the,
you know, the ecosystem. And of course, this is very, very difficult, especially in Web3,
because you don't know what to expect. But myself and our team, we've been trying to build a
decentralized P2P platform, because we realized that this is a, when I say P2P here, I mean
Fiat to crypto and crypto to fiat platform that is a wallet agnostic.
And we're thinking since the Mocha wallet is this intuitive, it wouldn't be a bad idea to have it as the, how should I say, the flagship wallet that actually onboards people onto the P2P platform.
people onto the P2P platform. And I was wondering if maybe, because right now it's all EVM,
but I do have my reservations of EVM chains and whatnot. But I do feel that if Mocha is the
front end of our P2P platform, that adds to both our platform as well as the Mocha wallet ecosystem.
And I was wondering if there was an avenue where this could actually be carried further down the line,
if it makes any sense to you guys.
Yeah, for sure. Hit us on the DMm or through the discord you can open a ticket and we can talk and discuss how we
can benefit from your tech and we need to see how can we have a like an easy integration and if it
makes sense for sure we can do it and if there's something from our side that we can make easy to
integrate on your side what we're building of course we can we can
work with our then remember the more the more wallets or the more products using and then being
part of the mocha ecosystem it's better for us it's better for for the businesses and it's better
for the users so if if it's a fit we can do it for sure uh if it's not a fit uh we can talk about how can we make it work but
yeah we're not close to that the other uh we really want people to integrate our tech and
and make it available everywhere like all over the world okay since that's the case i will open
a ticket and uh yeah we'll carry the conversation from there. Thanks for the opportunity.
No, no, thank you for being interested in what we're building and yeah, that's how community grows.
All right, guys, should we start wrapping it up? Are you going to be able to finish this for us, Eric?
Yes, I just sent funds to my wallet.
I'm just waiting for them.
I tried the fastest one on this platform, which is AVAX.
So I'm just waiting for it, and I'll'll scan the QR code and the payment will show up.
And yeah, just to be clear, I'm going to receive cacao or rune, depending on...
Okay, so if it's AVAX, it's going to be rune. Yeah.
Just waiting for the funds let me explain why he says that he's gonna get a cacao rune um since we're using both maya and torchchain to enable more
interconnection and different ways to pay um the business needs to choose one main token to settle in Maya and another token
to settle in in the fortune so that's how you can pay with all of the available tokens if he pays
with one token that it's only in fortune he will do a swap and he will he will receive the main token that he choose on the fortune
ecosystem so for example if his main token for the Thor chain is rune
that's how he
Said the the primary token in in the settings of the wallet and the business
Well, he's paying our backs then he will receive room at the end
So so that's how it's working on
the background the good thing is that the user doesn't know that and they will just see that
they have all these tokens that they can pay with and they can choose the one that they prefer so and Kenton and that is I think we are going to have a lot of demos reported in real businesses
soon we are ready talking to the partners that we have and we're gonna put it there and teach
them how to use it and and do some life testing and we can share those videos to you and if you
think that it's it's of interest of your community you can help us sharing in eggs and we can share those videos to you and if you think that it's it's of interest of your
community you can help us sharing in eggs and they can start seeing how how fast and how easy it is
yes and i do have the thought now so you can see on the live stream the qr code i'm gonna
let's see so i am here I'm gonna tap scan
No, that's a swap. Sorry about that. Yeah
One seven
I don't think you're sure you're not sharing your your wallet screen there
So I think they're not seeing that
but but it's okay eric we we can share the videos later on with with the team
canton i don't know if you want to start closing this up uh yeah i think we should um unless we
give eric another are you almost ready there eric you almost done? No, it's giving me,
oh yeah, the fonts are frozen yet
because they need a couple of confirmations,
so I cannot use them.
Yeah, I think it's better if we wrap it up.
Okay.
Yeah.
We'll just share the stream later.
Yeah, when you get, yeah.
So, okay, so you're not,
when do you think you're gonna
be able to to launch you're hoping it would be today what uh you guys have a better idea on the
timeline when you have everything done yeah as eric mentioned earlier uh we're we're doing like the final testing and and i'm just really picky about really specific things
that i think they're really important for the user so there's a few of those i don't think we
can go past this week like it has to be somewhere next week uh i'm not gonna say that it's gonna be
on tuesday or wednesday but somewhere next week it's going to be
because we're almost there just the final details that i think are really important for for the
users and i really want to give you the best experience and also if people here are really
trying or planning on going out and onboarding businesses i want to give you the right tools to
do it so i don't want to give you a worthy platform that then you're going to be
struggling trying to show the business how it works.
So because that's something that you're putting your word and your name in front of.
So I want the platform to support that and give you that support and you feeling
comfortable using it.
So that's why I'm really, really picky about that working perfectly that's great so uh so you said about a week then you
hope to be done yeah yeah yeah for sure yeah okay got it well great guys looking forward to it
thanks for coming up um yeah denny do you wanna give your notes in front of you wanna wrap this up
Yeah, Denny, do you want to give your notes in front of you?
Do you want to wrap this up?
Yeah.
Yeah.
Before Denny wraps us up, we're going to be in Core App Blockchain Week and then on Token 2049.
So if someone from the Thor chain or the my community are going to be there, make sure to hit me up.
Would be cool to meet up.
And we might be giving a couple uh i don't know i
don't even know the word in english but we might be giving out a couple of it's not a conference
you know well workshops or uh you know when you speak to 50 people not 500 but yeah we will be
presenting mocha in a couple of of spaces um on uh token 2049 so great i'll make sure to record that
yeah i'm so bummed you know i wanted to go something personal came up i can't go so i'm
just like so devastated to me but uh you know definitely gonna try and get to get to meet
especially those bitcoin cash guys because i know they're really interested so very good job you guys
super super excited and yes zay when time comes, you guys release those demos,
please share them to the ThorChain, because we're more than happy to push Mocha, because you guys
are literally, it's ThorChain volume. It's not Mocha volume, it's ThorChain volume, and MyA
Protocol volume too. So it is in our interest to have the success of the Mocha. And if it is
successful, it is literally one of the best
marketing pitches where thor chain my protocol has created a new point of sale application with our
raw infrastructure with people what they're able to build on top not only just regira but really
the sky's the limit guys so yes absolutely give me those demos as soon as possible i'm going to share
them like crazy um okay guys we're gonna wrap it up
here um so next week i am so excited for this kenton we're gonna have hans from rujira so all
you ruchi kids out there and thor chads that really love our hans brother you guys have to be
ready for that we might i don't know kenton if we're gonna have we we were thinking about maybe
having a little side space with that certain individual two days after that i don't know, Kenton, if we're going to have – we were thinking about maybe having a little side space with that certain individual two days after that.
I don't know if that's confirmed yet.
Oh, yeah.
Ray Yusuf.
Yep.
September 29th, I believe, Monday.
September 29th.
Perfect.
Yeah.
Yeah, so Kenton's going to have a little extra treat for you guys.
He's putting in the time, as he always does, so keep an eye out for that.
And then after the Uber Deb, Hans is on 27th,
the next week we're going to have the Uber Deb Chad Bareford again. So we're going to see some
updates of a lot of questions for that. So we'll definitely guys, you want to check that out.
And then the week after that, October 11th, I am planning on having the Litecoin community come
and they're going to be telling us what they're doing. We're going to let them know what we're
building, not only on Thor chain,, you know, Rujira.
And then, of course, Mocha, of course,
is free to come in and talk about that
because at the end of the day,
it's all ThorChain material, right?
So, okay, guys, I think that's going to wrap it up.
Thank you all so very much.
Please, if you're listening to the recording of the space
or live, please share it.
We have so many amazing things going on.
So incredibly bullish.
With 3.11 going live, what? We got many amazing things going on. So incredibly bullish. With 3.11 going live,
what? We got so many things going on. It's so incredible. I'm very, very happy. Thank you,
Mocha, for giving us your time. And yeah, if you guys ever want to do a separate space or live
stream, just DM me. I'm available. I love, I just really want to get Mocha out there. This is such an
important technology. Again, my congratulation goes to you. You guys are doing the right thing
by waiting to make sure that it's a smooth experience. That's 100% true. So do not at all
feel like you're making a mistake. You're being Nick Picky Zay, you're doing well. So again,
thank you guys very, very much. And thank you to all the listeners this has been a wonderful space
and we'll catch you so much guys thank you for having us here
see you guys Thank you.
