Hello, Celo community!
Following the recent proposal to introduce the Peso Mexicano ($cMxP) stablecoin on the Celo network done by @celomexico, we’re excited to share a compelling new use case on Celo: implementing $cMxP within MotusDAO’s decentralized platform for mental health services.
We’re thrilled to introduce MotusDAO, a project dedicated to democratizing mental health services through a decentralized platform that connects psychologists and users seamlessly. This initiative empowers mental health professionals using decentralized finance (DeFi) mechanisms, enabling affordable, borderless access to therapy services. Our vision is to make MotusDAO a trusted resource that supports users through innovative economic models grounded in decentralized governance and open-source technology, with a starting focus on Latin America.
About MotusDAO
MotusDAO connects users with licensed psychologists and mental health professionals across six countries in Latin America, as well as Canada and Spain, emphasizing equitable access to quality mental health care. Our network currently comprises 71 registered professionals and over 45 active users, with potential for rapid growth as we expand our Web3-powered mental health service ecosystem. While the MotusDAO Academy provides a comprehensive online study center for mental health professionals, focusing on the development of next-generation skills and integrating Web 3.0 technologies (on going services).
The Role of $cMxP in MotusDAO’s Payment System
Integrating $cMxP into our platform offers stable, transparent, and cost-effective payments for psychotherapy sessions and related services. This integration aligns with MotusDAO’s mission to leverage decentralized technology for financial inclusion and equitable healthcare, bringing greater stability and accessibility to our users.
Potential Volume per Professional per Month
To illustrate the anticipated impact of using $cMxP within MotusDAO’s payment ecosystem, here’s a breakdown of potential transaction volumes:
- Average Monthly Sessions: Each psychologist typically conducts 15 to 20 sessions per month.
- Session Cost: The average fee per therapy session is 800 pesos (~$cMxP 800), with variations for symbolic or subsidized pricing tiers.
- Total Monthly Volume: Each psychologist could generate between $cMxP 16,000 and $cMxP 20,000 per month. This translates to approximately $800 - $1,000 USD (based on a 20 pesos per dollar exchange rate). Across our network of 71 professionals, the estimated monthly transaction volume is $cMxP 1,136,000 to $cMxP 1,420,000 (approximately $56,800 - $71,000 USD). However, it is important to mention that the dolarized payment mechanism is a crucial solution for professionals across Latin America, providing more stable income streams.
- Beyond therapy services MotusDAO’s Academy leverages $cMxP to enable seamless transactions for professional courses, enhancing continuous education and strengthening our decentralized mental health network.
Benefits of $cMxP Integration
- Financial Inclusion: $cMxP enables stablecoin payments, reducing volatility and enhancing service accessibility and stability for users.
- Cross-Border Transactions: With a network spanning multiple countries, $cMxP facilitates consistent and predictable payments, simplifying remittances and minimizing fees.
- Transparency and Trust: Blockchain-based payments enhance transparency and trust between users and professionals while enabling decentralized insurance models.
- Regenerative Incentives: Psychologists providing services to underserved communities can receive retroactive payments from MotusDAO’s treasury in $cMxP, creating a regenerative loop that rewards impactful contributions.
- Seamless DeFi Integration: Our platform offers a friendly introduction to DeFi and financial inclusion tools, such as UBI, microlending, savings, and more.
- Decentralized Mental Health Insurance MotusDAO captures Quadratic and Retroactive Funding to subsidize therapy costs not fully covered by users, creating a safety net that keeps services accessible.
Next Steps and Engagement
We look forward to collaborating with the Celo community to maximize $cMxP adoption within MotusDAO’s payment ecosystem. Our goals include:
- Engaging with community stakeholders for feedback.
- Launching pilot programs to demonstrate the efficacy of $cMxP payments in a decentralized healthcare network.
- Organizing joint events to showcase real-world applications of $cMxP in mental health services.
We invite your insights, collaboration, and support as we work to create a meaningful impact on decentralized healthcare and financial inclusion through Celo!
As well, this is also an open invitation to experience our psychotherapy service as we begin onboarding our first group of psychologists onto the Celo platform. Currently, we offer a network of primarily Spanish-speaking professionals, with a few English-speaking psychologists available as well. Remember this is Beta-testing with licensed and high quality professionals.
Thank you for your time and consideration,
The MotusDAO Team