Harper Reed (@harperr) • Hey
A normal person doing normal things
Publications
- 🚀 Galactic Story Time!
**tl;dr: we are launching a personal offramp at skyteller.xyz - check it out. We will prioritize lens users!**
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🦩Some of you have asked for an update on galactic and what we are up to. Here is the story!
🚀 In late 2021, we fell head over heels for off-ramps. We looked at the market and noticed that folks was focusing on on-ramps but not a lot of folks were focusing on off-ramps. This was our chance!
🤖 We dove deep into debit cards and even built a self-custody one in early 2022. Our team had launched PayPal's first debit card, the Venmo card, and built Venmo infrastructure, so we knew what we were doing.
🤝 We locked in some fantastic partnerships and nailed down the legal perspective on our product. Bank approval came quickly, and we got card network approval too.
👷♂️ We spent the summer building out the product and getting it ready for launch. By the time the program was approved, we knew we had something truly awesome on our hands.
💼 We started finalizing details with our partners for KYC, swap, insurance, and more. Everything was looking good until FTX happened...
🔍 We double-checked with our partner, and they said they were bullish on our use case. We hired a fantastic Chief Compliance Officer to make sure we were doing everything by the book.
🗓️ We set our sights on a November 2022 launch date, but our partner and partner bank said they needed to wait until Q1 2023 for an audit by the card network. So, we waited.
📞 We spoke with the card network, and they said everything was fine. But when our partner and partner bank came back, they presented us with some unexpected challenges.
🔧 We worked tirelessly to fix the issues, but then our partner said they just didn't want to work with crypto companies. Our program was canceled after nine months of integration. Womp womp.
🔍 We didn't give up though. We found another bank that was excited to work with us. Unfortunately, they hit the pause button on all programs until they could figure out what was going on in crypto.
💡 That's when we realized that a self-custodial debit card program wasn't feasible at the moment. But we didn't want to stop building off-ramps, so we put our thinking caps on.
💰 We came up with a neat product that lets anyone get an Ethereum address that connects to their bank account. It allows you to seamlessly off-ramp anything from ETH into fiat, like magic.
💸 For example, if you send USDC/ETH/etc. to harper.skyteller.eth, it'll be deposited into my personal bank account. It's that simple!
🙌 There are so many cool use cases for this product. You can add your off-ramp address as your NFT marketplace royalty address and have your royalties deposited directly into your bank account.
💰 You can set up a payment splitter and have this ETH account be one of the addresses for pushing 40% of your crypto earnings to your fiat account for taxes.
🍕 You can even add it to your ENS address (harper.skyteller.eth) and have people pay you directly in USD to cover fiat expenses (like pizza!). Your parents could set it up too, and you could send them crypto to appear in their bank account like magic.
🤯 This may be the first composable off-ramp! The possibilities are endless. We're launching this product over the next few weeks, and we're excited to share it with you.
📝 You can sign up for the waitlist at skyteller.xyz. We'll be prioritizing lens users, so join us on this crazy journey!
(thanks to our amazing investors including the awesome @stani.lens)
- Anyone want to share their opml with me?
- lens reflection is a very interesting way to build use. would love it if farcaster also had reflection.
- living that lens life
- hello