DePay: A decentralized payment protocol that simplifies crypto payments.
Accept & Perform Crypto Payments
DePay simplifies and improves your crypto payments.
Built on decentralized finance.
AbstractFrom payment widgets to professional seller dashboards, decentralized credit cards, and the DePay Wallet.
Current payments within the decentralized web are rudimentary and inefficient. Users are often forced to exchange their cryptocurrencies and tokens on third-party exchanges before they’re able to make payments. On those exchanges, users are faced with complicated signup procedures or are required to have a minimal level of technical understanding. This creates unnecessary effort and higher transaction costs that ultimately need to be absorbed by the user.
Existing payment solutions don’t take advantage of the fact that users might already have tokens or cryptocurrencies of value at their disposal and that those assets can be exchanged in realtime as part of the payment transaction. DePay aims to make it easier for everybody to accept and perform crypto payments through the implementation of efficient and simple-to-use decentralized payment solutions, developing new products and services that create a positive and lasting impact on the industry. The DePay payment protocol works with all exchangeable asset classes contained within a user’s crypto wallet. With its implementation, we increase the number of available cryptocurrencies and tokens eligible for payment by more than a hundredfold.
By facilitating current and future decentralized exchanges, DePay always ensures the most cost-effective way to perform payments. This is achieved by routing payments through the least costly exchange in real-time while the payment is being performed. DePay’s payment solutions will include payment execution, various payment subscriptions, tokenized payrolls and associated loans. These solutions will lead to the creation of a payment-focused DeFi wallet and a credit card that allows users to pay for real-life goods.
Payments can be made with either existing crypto wallet balances, tokens, or future payroll collateral. Now is the perfect time to build a payment protocol on top of the groundwork that decentralized finance delivered in 2020.
Basic Products; Depay Payment: When it comes to receiving payments within the decentralized web, the DePay Payment solution is unmatched and a leader in the industry. For both buyers and sellers, the solution is easy to use and seamless to integrate. For sellers it allows any crypto token to be requested as payment, and for buyers, it will continuously scan and calculate the most cost-effective way to make a payment using the tokens in the buyer's wallet.
For example, where a seller requests to receive 100 USDT for a service or product, the buyer would only need to use the DePay Payment button. Once executed, the widget will automatically scan the buyer’s wallet for all exchangeable assets of value.
Should the wallet not contain the required amount of USDT but contain a sufficient amount of ETH, the widget will automatically suggest using ETH instead.
The DePay Payment Protocol (the smart contract) would then automatically swap the buyer’s ETH to USDT and then send the requested 100 USDT to the seller. All of this happens in a single, real-time transaction.
As long as there is a decentralized exchange pair or decentralized market maker with enough liquidity for the individual assets, the payment will work with all combinations: ETH/ETH, TOKEN/TOKEN, ETH/TOKEN, and TOKEN/ETH.
Whilst the initially suggested route is the most cost-effective (as calculated by the widget), the user is not obliged to use the suggested option. The widget will also allow users to select any other exchangeable asset within their wallet as a means of payment.
DePay TokenSaleThe DePay Payment components also provide other common use cases. DePay’s scan and cost-effective routing can also be utilized by DApps to sell tokens to users directly.
DePay SwapSimilar to DePay TokenSale, DePay Swap is another version of DePay’s scan, routing, and cost-efficiency technologies. DePay Swap will be delivered as a standalone browser plugin in the future, but can also be used by other DApps to allow exchanging crypto-assets as part of their application.
DePay WalletDePay plans to fully integrate the previously mentioned products into a payment-focused crypto wallet. The development and distribution of the DePay Wallet makes sure that the usage of DePay’s protocols and basic products are not dependent on DApp developers’ efforts to onboard DePay within their applications.
COMING SOON!As an example, the DePay Wallet will allow users to make use of the DePay Payment widget even on DApps or websites which have not integrated DePay themselves. This is achieved by detecting that the user plans to perform a blockchain payment and offer the most cost-effective payment option.
DePay Credit CardsPublic adoption to utilize crypto payments for real-life goods (products) will take time. In order to accelerate and facilitate this adoption, DePay plans to launch a decentralized crypto credit card. This will be facilitated by existing crypto credit card white-labeling programs and will be connected to DePay’s decentralized payment protocol.
DePay Tokenomics
NameDePay
SymbolDEPAY
Total Supply63’000’000 DEPAY
Final Total Supply32’000’000 DEPAY
TypeERC20, OpenZeppelin with token burn and vesting extension options.
Contracthttps://etherscan.io/token/0xa0bEd124a09ac2Bd941b10349d8d224fe3c955ebAllocationAll tokens stored within the token contract lock-up mechanism can be considered locked until they are released to the team. The token contract allows for the lockup time to be infinitely increased but will not allow for the lockup time to be decreased. Similarly, the token contract allows for the burning of DEPAY tokens that have not yet been released to the team, and it does not allow for the total supply of the DEPAY token to be increased.
Interesting Facts About DePay;
- DePay’s subscription technology facilitates recurring payment execution when utilizing the payment processor example: monthly payments just like you do with your card on Netflix now you can do that with crypto
- Do you know what Depay holders will have ownership of?
>DePay protocol governance
>DePay basic products
>The protocol fee switch
>The DEPAY governance treasury
- DePay aims to make it easier for everybody to accept and perform crypto payments through the implementation of efficient and simple-to-use decentralized payment solutions, developing new products and services that create a positive and lasting impact on the industry
- Depay burn (the buyback and burn program) will ensure the stability of the token price and create more demand for the token
- Depay is the new stage of payment solutions, No sign up needed and very secure
- Did you know that all unused staking rewards will be burned? Means if single individuals do not claim the rewards for themselves, due to the burn at the end of the staking program (Sep. 2021), all tokenholders benefit (due to the reduced final supply).
- DePay has a high fraud-proof mark because it is a fully P2P transaction system with no need for a middle man.
- There is no hidden transaction fee with DePay making it the most attractive option for all transaction parties.
DePay is listed on:UniswapCoinGeckoCoinMarketCapBlockfolioFor More Info visit:DePay BlogTelegramLinkedlnRedditDiscordGithubYoutubeEtherscan
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Topic: [ANN] DePay: A decentralized payment protocol that simplifies crypto payments. (Read 586 times)