PayStreams
Get Paid As You Create Value with Live PYUSD Payment Streams, Secure, Stable, Customizable, and Supercharged with Smart Contract Hooks
Demo
About
The problem it solves We wanted to follow the same vision of PayPal: re-imagining digital payments and financially empowering people. We started from one reflection: Today most employees or service providers (freelancers, etc) create value and get their pay only at the end of their contract duration. What if you get paid as you create value? We wanted to provide a trusted, decentralized, and safe environment for both parties. Also some people may have trouble waiting until the end of the month to get their salary, PayStreams fix this by providing them their salary as they create value. So we decided to create the PayStreams protocol, 100% built during the hackaton, leveraging PYUSD's stability and security and liquidity, to provide peer-to-peer live money streaming service. This approach walks into PayPal essence since we are bringing the same digital payment vision operated by PayPal on web2 but here on web3. PayStreams can be used to stream salaries, rewards, vest tokens, and generally make crypto payments much more accessible. Additionally, PayStreams isn't your regular protocol that does just what it's built for. It was developed with extensibility and innovation in mind, right from the beginning. PayStreams uses a set of hooks which allows users (both streamers and recipients) to invoke custom logic during various events in the lifespan of a stream. This opens up a wide array of possibilities, where developers can build plugins on top of the PayStreams protocol 👀 to further extend the streaming service. Some common examples include: 1) A payment splitter plugin where once PYUSD is streamed, it can be split among multiple recipients. This allows a streamer to stream to multiple users without creating and managing dozens of streams (example we made on app ) 2) A plugin to bridge PYUSD to Solana. The possibilities and innovation with plugin are potentially endless. Bonus: Aitor, one of our team member made a Security report for Paystream contracts, link avalaible on links
How it's made
Challenges we ran into 1. Issues with integrating hooks: Hooks are the innovative point in our protocol, and thinking of how to intgerate them securely without gas griefing issues was one of the challenges we ran into while developing the contracts. 2. Issues on the frontend integration: Displaying live stream data correctly was a tough nut to crack since the data from the contracts needed to be transformed correctly.