Open Collective
Open Collective
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Retrospective 2023
Published on January 10, 2024 by Xavier Damman

What did you accomplish during 2023? How did you use money?

App

  • We released the first version of the Citizen Wallet for iOS, Android and web.
  • We introduced the concept of vouchers to easily onboard non web3 people to your community token.
  • Each community can now have their own “paymaster”, a crypto account they can top up to subsidize transaction fees.
  • We have released https://live.citizenwallet.xyz as a PWA to enable communities and merchants to follow transactions of their community currency as they happen on the blockchain.


Technically

  • We adapted account abstraction to make it work without a bundler that requires privileged access to a full node (to make it work on the CELO blockchain). 


Communities

We are actively working with 5 communities and we regularly participate in various events to test on the ground the Citizen Wallet and get direct feedback:

See all reports on the various on the ground activities we are doing to test the Citizen Wallet on https://citizenwallet.xyz/reports 


Fundraising


Money raised

We raised a total of $99.9k in 2023 (+ $1300 of income):

Grant applications

We filed a couple of grant applications. We hope that some of them will bear fruit in 2024:

More info about our fundraising and current balance on https://citizenwallet.xyz/funding 


Expenses

  • $40k in salaries for Kevin and Xavier (+$8.8k unpaid salary for Xavier, by lack of funds)
  • $1.5k on infrastructure (AWS, StackUp, QuickNode)
  • $2.3k on travels / conferences

What challenges did you face during 2023? What did your Collective learn? How did you change or grow? 

  • It’s much easier to raise money for a startup than for a digital public good
  • It’s a pain to manage crypto donations and fiat. We have funds on Open Collective and in various multisigs. We are sad to see that our fiscal host in the US (opencollective.foundation) is now stopping crypto donations.
  • We wish we could pay for our infrastructure costs using crypto
  • It took us much more time than expected to make the Citizen Wallet work on CELO, because of the lack of support for such a tier 2 blockchain (but it’s where most of our funding comes from…).
  • It’s not enough to build the tech. It’s about the community. We can’t compete with the ease of use and level of integration of PoS (Points of Sale) and touchless payments offered by Apple/Google Pay. We have to compete on a different level (community benefits).

What are your plans for 2024? Anything exciting coming up?

  • Integration with monerium.com for easy onramp/offramp in Europe.
  • Integration with Stripe.com for enabling communities to offer an easy onramp.
  • We hope that some of the grant applications we filed in 2023 will bear fruit 🤞
  • Have a good end-to-end story (e.g. Brussels PAY? Regens Unite Market Place?) to showcase deploying a currency in a community.