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Spritz Community Update: November 2022

Happy Holidays, Sprites! It’s been a wild month in crypto and not for all the best reasons, but at least we have each other as Spritz continues to Build Build Build! Especially as we pave the way towards a better future, building a “bankless” world where everyone can get the full experience of DeFi while unlocking more real world value from their crypto.

This month we’re grateful for all of you who have helped us so much during our beta period to improve our app and grow our community of Web3 trailblazers. In this lookback through November, we have a lot of exciting things to celebrate, and a lot more to come next month as we evolve Spritz even more!

Here is just a taste of what we’ve brought to Spritz this month:

November 2022 community update

🛹 Spritz Off-ramp

One of the more challenging aspects of DeFi is how hard it can be to off-ramp crypto into your bank account as soon as you want to cash it out. We already support IRL bill payments directly from your wallet, so we thought “why not let our users pay themselves?”

Our goal is to make DeFi more accessible, so finding a way to help our users off-ramp is key to accomplishing that goal. We built the Spritz Off-ramp as the answer to that! Now you can off-ramp crypto directly from your wallet to your bank account without having to send it to a centralized exchange first!

Plus, all off-ramp transactions are completed quickly, and USD funds will hit your account within one business day!

⚡ Cyber Week Challenge: Earn $25-$100 (Last Day to Play)

To celebrate Cyber Week, we’re hosting our first Spritz Blitz Challenge and dishing out $100 to the top 5 users who complete the highest volume in bill pay or off-ramp transactions from now until the end of the month.

  • Top 5 users get $100
  • Everyone else will get $25
  • Minimum $2,000 in transaction volume to qualify
  • Promotion expires Tonight - November 30, 2022 at 11:59 pm EST
  • All qualifying users who complete the challenge will be contacted by Dec 2nd to confirm their reward and details for receiving their prize.

🤝 Upcoming release: Pay Others

Speaking of the Spritz Off-ramp, we’ve received a lot of requests from the community to find a way to let you pay for monthly expenses that might not be tied to a financial institution, like paying your rent payments and other peer-to-peer stuff. Just because you earn crypto doesn’t mean your landlord wants to be paid in $ETH or $CAKE.

Soon you’ll be able to pay others on Spritz using ACH bank transfer! The process will work similar to Spritz Off-ramp, and all you’ll need to do is set up a crypto to USD transfer to any bank account (not just your own), and approve the transaction from your wallet.

Stay tuned for more as we release Pay Others in the coming weeks.

💸 $10 test payment credit for Bill Pay

We know what it’s like to be unsure of a new product in Web3. One of our goals was to find a way to help you test the waters as you pay your first real world bill with crypto. All new Sprites are now welcomed into the app with the opportunity to claim $10 to put towards an initial test payment funded from their crypto wallet!

To redeem your test payment credit, just click on “Pay with crypto” from any bill card. Follow the instructions to send a small test payment and choose the dollar amount to pay. Then confirm the token to pay with and approve the transaction from your wallet. Pay $5, Get $5. Pay $10, Get $10. You’ll have essentially doubled your first bill payment, on us. Cheers!

💻 Spritz video reviews

As our community grows, we’re seeing an increase in people who want to share their experience using Spritz! We recently launched referral rewards in the Spritz app, which lets users give $20 to their friend and get $20 in return each time a new user signs up and pays their first bill with crypto.

The success of the referral program inspired us to work with more Spritz ambassadors who can share their referral links with their networks and followers. We’ve started working with several social media influencers and other content creators in the Web3 space, and have seen a lot of great content created, including video reviews & overviews like this one from James Pelton, a YouTube creator. 

We plan to work with more content creators in the future, and would love your help! Have a favorite personality you want to see us work with? Or would like to become a Spritz ambassador yourself Let us know in Discord. 😜

🐉 QuickSwap Partnership

Who doesn’t love having friends in crypto? This month we launched a long-awaited partnership with Quickswap, the leading DEX on Polygon, offering QuickSwap users a seamless experience from the QuickSwap app. 

We’re excited to work with Quickswap on this project to bring more use cases and functionality to DeFi. And we want to take you along with us as we develop new partnerships in the DeFi space. 

Let us know if you have any ideas for potential partnerships and integrations in the future, or if you have a favorite Web3 project that you’d love to see Spritz work with! Keep up with the buzz in our Discord and share your ideas with our team directly!

💜 Polygon AMA

Earlier this month our founder, Chris, did an AMA with the Polygon team. This AMA was a great opportunity to discuss the future of DeFi in relation to where the space is today, and the importance of self-custodial financial structures that allow crypto users to be in control of their assets!

Thank you so much to Polygon for setting up the event. You can check out the video below to see what you may have missed. Chris will be doing other AMAs in the coming weeks too, so keep an eye out for those and tune in whenever you’d like!

✍️ New blog content on the flow of funds using Spritz

Ever wonder how it looks inside the Spritz machine when you make a payment? We’ve created this explainer on how the flow of funds works when you pay bills (or off-ramp crypto) with stablecoins and non-stablecoins in the app.

Here’s the TLDR: When you make a payment with a stablecoin, we accept the stablecoin as payment and then send fiat currency to your bill-pay account. When you make a non-stablecoin payment—meaning payments with $ETH, $BNB, or $MATIC (or any token on those networks), we swap it for a stablecoin like USDC and then instantly issue a fiat payment to your bill-pay account all in a matter of seconds.

As part of our ongoing effort to create more educational content, you can also find articles like our Guide to Ethereum DeFi, which we also published this month! Curious about something in the crypto world? Let us know what you’d like to learn more about in Discord!

Thanks again for being a part of the Spritz community. We’ve been loving hearing from you all about what you want to see in the app, or what you want to see in DeFi in general! Keep up with us on Discord and keep an eye out for some exciting new features coming in December! 🎁

Cheers! 🥂
The Spritz Team

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