At the end of the day of the Baltic Honeybadger 2022 conference, Jack Mallers, CEO of Strike, virtually took the stage and proposed an interesting model to create a sustainable model of paying the devs of open source wallets. Open-source projects are notoriously hard to fund, often relying only on donations of some form, or creating paid tier, but it sounds like Mallers is cooking a solution - video recording (explanation starting at 7:46:20).
With the explanation being somewhat cryptic, here's the decyphered version:
Strike will pay any open-source wallet devs every time their wallet is used to make a payment to Strike enabled terminals.
This is the most interesting question and Mallers build up the arguments to this point throughout his talk.
Strike wants to incentivise devs to bring users to Strike enabled sellers.
Let's break the argument down:
It turns out, according to Mallers, the same situation is happening in the current banking system. Visa and Mastercard pay the bank (like Chase) on each transaction to bring in the customers to the merchants. That's where a big part of the ~3% card payment margin goes. To get more detail watch the video of Jack explaining the incentives.
Mallers mentioned a solution where wallet can share the payment pre-image with Strike servers, Strike servers confirm that that was indeed payment they just received on one of the terminals and then the Strike server will immediately pay out some % sats to the wallet dev.
This was only painted in broad strokes, so we will have to wait for the actual solution. As you can imagine there are multiple ways to solve this technically and we should pay attention aspecially to the privacy aspects of the solution.
The model that Jack Mallers hinted at actually provides incentives structure that's aligned to fund the open-source wallet projects. It's in the interest of Strike to do so. Strike will earn more money if they do. The best open-source wallets will earn the most money too. Strike wins, developer wins, Bitcoin wins.
The question this brings is - what about other projects? Do those have the same incentives? Does Stacker News have incentive to share some sats with wallet devs that encourage users to use Stacker News?
OFC we will have to wait and see.