## Summary proposal.

**Bloque** has  launched an  open developer platform to issue layer 1 VISA  debit  cards on Kusama Asset Hub.

The requested funding allows us to build on the technical foundation to issue and distribute 20,000 physical debit cards over <ins>1 year</ins> to 20,000 new and KYC’d kusama account holders. These new cards will use Asset-hub and can spend KSM, dUSD and native tokens at any point of sale. Intantly.

These users  will be onboarded through  trusted partners including: fintech platforms, construction companies, e-commerce merchants and street sellers throughout LatAm. 

We project an average spend per card of $500 per month creating a monthly volume of $10m. 

This will generate 0.2% fees on every transaction for Kusama - $20k per month. 

For developers you can issue debit cards to your users and earn up to 1.3% on every purchase they make. It’s a cost-effective, compliant, and growth aligned  way to boost your revenue while delivering real value to your community.

## Demo
[![](https://i.postimg.cc/qqLcFk8k/Screenshot-2025-07-24-at-1-59-54-PM.png)](https://www.youtube.com/shorts/mrfdBTdszSk)

## AGG presentation
[![](https://i.postimg.cc/yY1kPhW4/Screenshot-2025-07-24-at-1-51-15-PM.png)](https://x.com/TheKusamarian/status/1948171274305544209)

## TL; DR;

**Our team:**

- Founding team from YCombinator.
-  $2.5m USD Total Payment Volume to date.
- +$400k USD on moved on Kusama AH currently.
- Delivered the [#499 30% faster](https://kusama.subsquare.io/referenda/499).

**Proposal:**
-  Expected $10m USD monthly volume in AH through 20,000 holders spending $500 per month. 
- 0.2% Transaction fees to Kusama (either burned or $20k USD per month to treasury) 
- buy pressure with 0.1% purchase per debit card transaction in KSM for fees.
- Developers can earn up to 1.2% of transaction fees by launching their own branded cards 
- Opportunity for branding on the card.
- Costs are for purchasing debit cards and for developer time.
- Risk shared by Bloque team who are covering their own overhead (~$134K USD paid by Bloque,  $179K paid by Kusama).

## Costs:

#### Physical Card  Costs (107,707 USD) paid by Kusama : 60.1% of total Amount.
- **Price per card:**3.04 USD x 20,000 = +60,800 USD [(You can check it in our contract here)](https://drive.google.com/file/d/1z2tmUvMkL-3Te4HhPEyCPBZG719KTgpA/view)
-** Embossing fee:**+4,500 USD
- **Colombian VAT:** 19% = 0.19  * (60,800 USD + 4,500 USD) = +12,407 USD
- **Additional Visa Collateral:** +30K USD extra collateral for Visa processing transactions ahead of settlement. (Global)

 #### Engineering Time Costs (72,000 USD) paid by Kusama: 39.9% Total Amount.
- **Team Composition:** The project will employ 2 full-time mid engineers, to improve concurrency, security and UX/UI for the debit card platform.
- **Monthly Cost:** Each member incurs a cost of 3K USD per month.
- **Project Duration:** The team will work full-time for a period of 12 months.
- Multiplying the monthly cost by the number of team members and the duration (3K USD x 2 members x 12 months).

#### Operative team (Compliance, head finance, Infrastructure) paid by Bloque: ~134,760 USD
- **Team composition:** Head of Sales, Compliance Officer & Head of Financial operations + devops and Infrastructure. 
- **Monthly costs:** 11.230,51 USD
- **Duration:** 12 Months

## Resources
- [Full proposal document.](https://docs.google.com/document/d/1EKVbKmIPMnd0M52wUYr2VRd3un7hXfe8rozCU6PRY2M/edit?usp=sharing)
- API docs: [Authentication + Holder Creation](https://api.bloque.app/docs/origins), [Transactional Ledger](https://api.bloque.app/docs/ledger), [Card issuance](https://api.bloque.app/docs/mediums).

## FAQ
**Which regions are supported?** Mainly LatAm starting in Colombia & Mexico with worldwide availability via Passport.

**How will this API handle key material since the wallets are non-custodial?**
We use a combination of proxy accounts with defined spending limits. In addition, the “debit callback” endpoint with 3D Secure prompts users to authorize (i.e., sign) transactions—effectively meaning the user “sells” crypto to us so that we can complete the payment on their behalf. Our security model is based on Shamir’s Secret Sharing: at setup, the holder sends us one part of the secret while keeping the other part secure across multiple devices. When a transaction is authorized, the two parts are combined to complete the transaction.

**How are redemptions processed?**
Today’s redemption channels include Brale Rails (conversion across 10+ chains to USDT/USDC), a DEX liquidity pool for KSM/dUSD, and direct debit card transactions.

**Do day-to-day COP inflation swings pose a risk?**
Yes, they can. To mitigate this risk, we maintain only small COP buffers in the bank while holding most of our treasury in USD.

**How will the system mitigate potential volatility given that settlement can take several days?**
Limiting USD buffer sales to twice daily (e.g., morning and afternoon) may expose us to unexpected volatility. Ideally, we offload USD as frequently as market conditions allow. When that isn’t feasible, we rely on compensation accounts, short-term COP buffer loans, SWIFT transfers, and OTC channels to quickly convert USD into COP liquidity.

**How would a chargeback or clawback be handled?**
For same-day chargebacks—such as paying $5 with KSM for an Uber ride and then canceling—the system applies an adjustment credit by deducting $5 from the USD buffer, converting it to KSM, and crediting your account. For delayed clawbacks—like purchasing a $20 card with KSM on Temu but receiving a faulty product—we detect the issue via Visa’s invoices and balance sheets. In the next payment cycle, we net the amounts between our accounts; for instance, if we owe Visa $100 but receive $20, we pay only $80, converting the extra $20 into KSM and crediting your account.


The proposal from Código Brazuca and Polkadot Brazil aims to establish an 8 to 10-month Tech Academy focused on Polkadot technology, with the goal of expanding and adopting the Polkadot ecosystem in Brazil. The academy plans to offer a high-quality educational curriculum covering basic to advanced concepts to train 100 developers, using both online and in-person modalities.

Research.

Pk-Sk generation.

Plan & Documentation.

Key Storage.

Threshold-FHE.

Propose and approve a spend of treasury funds.

## Dispatch Origin

Must be [`Config::SpendOrigin`] with the `Success` value being at least `amount`.

### Details
NOTE: For record-keeping purposes, the proposer is deemed to be equivalent to the
beneficiary.

### Parameters
- `amount`: The amount to be transferred from the treasury to the `beneficiary`.
- `beneficiary`: The destination account for the transfer.

## Events

Emits [`Event::SpendApproved`] if successful.

#568 [Big Spender] Referendum #568

No Active Proposals