Smart Invoice builds trust between payer and payee by creating a secure neutral channel for transferring money. The payer proves their commitment by locking money in the contract, and controls when it is released to the payee. No middle party, no leap of faith, and you don’t even have to use the word escrow if you don’t want to.
Several RaidGuild members built the current beta version of this tool for use internally in our DAO. Since that version, we have expanded its use for all of our client work and it has become an integral tool of our operations.
Our goal is to expand and improve upon the existing internal tool and create a tool of global utility that will facilitate workflow and ease of client/provider interactions for greater Web3 freelance community.
This proposal is to fund the necessary tasks to move Smart Invoice out of beta and make it more accessible to all freelancers and DAOs.
To improve the overall freelance experience in Web3, for both the freelancers and their clients.
To minimize the risk of hiring a Web3 freelancer online.
To have a safe and credible way to handle disputes without the burden of a formal written contract with an attorney and litigation.
To provide a trusted, common solution for the freelancer community.
To be a foundational pillar to onboarding talent from Web2 to Web3.
Smart Invoice does a decent job of fulfilling RaidGuild’s internal needs, but isn’t truly usable by independent freelancers.
- Several bugs discovered in beta
- Not easy to understand how to use - clients making mistakes
- Core features missing to actually be usable by the greater freelance community
- Isn’t perceived as “trustworthy” or “safe” because of current branding
- Doesn’t appeal to the greater freelance community because it’s branded like RaidGuild is - mostly for men and gamers
- Smart Invoice is a free tool, so RaidGuild has struggled funding the build-out to make it more widely accessible. Much of the current work has been done for free, and to get to the next iteration, we need to incentivize talent to prioritize working on this product instead of taking on more paid client work.
- No revenue model - it’s a free tool. Though we have discussed TVL / Factoring as an option to maintain this free tool over time, once it gets traction.
Move Smart Invoice from a beta tool we use internally at RaidGuild to a full product that’s open to every freelancer.
- Fix the bugs
- Create better documentation
- Build the common feature requests we keep getting
- Rebrand and build out a legitimate site that looks like a real product and like what most Web2 freelancers are used to (and comfortable with)
- Create a more inclusive product for freelancers of all walks of life
- Create a self-sustainable revenue model to fund the team and contribute to future improvements
- Each invoice is its own contract
- Deposits may come from any address
- Client can make deposits by milestone
- Milestone payments can be variable in size
- Custom arbitration can be set (LexDAO or any Ethereum Address)
- Client can deposit more than the total amount (for gratuity)
- Tokens accidentally sent directly to invoice can be recovered
Smart Invoice is currently used by RaidGuild for all contract work. We use our own version of it called SmartEscrow (https://smartescrow.raidguild.org/) that integrates with our existing DAO tooling.
We’ve come a long way with this free tool, but have stalled the past few months. Currently, there is no compensation for devs to continue working on the free public version. Funding will allow everyone proper incentive to accelerate building out the full product and make it a worthwhile tool for the Web3 community.
Differentiation (from other projects)
Most crypto escrow services charge a fee (1-3%) per transaction, don’t appear trustworthy (in other words, are probably scams), target large organizations, or are not built to accommodate the needs of small scale projects freelancers work on.
Smart Invoice is dedicated to be a free tool specifically for freelancers and their clients - regardless of project budget.
We are a team of RaidGuild members and apprentices:
Grant Request $
Phase 1: $52,000
Phase 2: $30,000
Total: $82,000 USD
What the Funds Are For
Immediate Fixes Needed
- Verify wallet before deposit
- Standardize the metadata JSON
- Support register and deposit in 1 transaction
- Check arbitration costs to create a dispute
- Updated documentation / help center
Common Feature Requests
- Add support for adding new milestones
- Add support for generating a PDF invoice
- Add support for other tokens as payment
- TVL / Factoring research report
- Website Design & Development
- Website Copywriting
- Website SEO
- Demo Video
Awareness / Marketing
- Direct Outreach
- Content Creation
- Interviews / AMAs
- Search Engine Optimization
Maintenance / Support
- User support
- Ongoing bug fixes and testing
Getting the word out about this free tool, and connections to anyone who might be willing to mention it to their audience / community.
Additional Resources, Links, Portfolio
Live App: https://smartinvoice.xyz/
Documentation: What is Smart Invoice? | Smart Invoice FAQ