30 Sep New multi-chain DeFi payment protocol allows vendors to accept any token

Customers may make payments in any cryptocurrency using a completely decentralized solution, which automatically routes token swaps through the least priced decentralized exchange (DEX). DeFi

The DePay Payments widget is free and easy to add to DApps and websites, needing only a few lines of code. The decentralized financial initiative, however, is focused on the customer’s user experience. An automated, two-click payment interface avoids the need to direct customers to a DEX to obtain the necessary cryptocurrency – a procedure that necessitates some technical knowledge and increases the possibility of abandoned shopping carts.

DePay scans the buyer’s wallet once the customer hits the DApp’s “purchase” button, picking the cryptocurrency that can be converted into the seller’s desired tokens in the most cost-effective manner. It also checks decentralized liquidity pools to guarantee that swaps are possible right away.

The item or service being purchased is then displayed, along with the cost in both dollars and the chosen cryptocurrency, as well as the network fee. The DePay protocol’s smart contract conducts the swap and delivers cash to the seller in real-time when the consumer presses the “pay” button.

Customers can choose a different cryptocurrency to store in their wallet if they so choose.

DePay claims that right present, suppliers and sellers are missing out on a lot of potential money since they have to go through multiple token conversions on different exchanges, generating friction, wasting time, and increasing costs.

In The Pipeline

Along with the basic DePay Payments tool, the business is working on eight more products based on its core widget, two of which are now live: DePay Sales, which allows customers to directly purchase the DApp’s own token, and DePay Donations.

The company’s idea to commercialize its goods is DePay PRO, which comes next. The subscription-based solution will include a complete payment dashboard with filters, search capabilities, and analytics, as well as customer profile data, invoicing and financial reporting tools, data export capacity, and connection with mainstream products like CRM platform Salesforce.

DePay Swap, which offers straight token trades; DePay Subscriptions, which automates recurring payments; DePay Payroll, which can pay employees with crypto; DePay Credit, which will offer loans collateralized with tokenized subscription and payroll streams; and DePay Wallet, which will allow buyers to use the DePay Payments widget on DApps that do not offer it directly, are all products coming later this year. In 2022, DePay will launch a credit card, and in 2023, the business aims to pass up all protocols and fundamental goods to community governance.

TRADE YOUR CRYPTOCURRENCY NOW

Branching Out

DePay, which was first created on the Ethereum blockchain, has a chain-agnostic approach and is scaling onto additional blockchains as well as interchains, which connect blockchains.

Depay CEO, CTO, and founder Sebastian Pape remarked on the Blockchain Brad podcast that the firm is “incentivized to grow onto various chains because our value proposition is that we support as many digital assets or crypto assets as feasible.”

DePay has gained a lot of traction with its concept, having been chosen a finalist at 1inch’s winter 2020 ETHOnline hackathon and been featured in the CoinList Seed Winter 2021 Batch.

It has also formed some significant alliances, beginning with DAO Maker, a multi-investment platform that serves as a launchpad and accelerator for tokenized enterprises. DAO Maker’s integration with DePay Payments allows its users to invest in any token and pay for services and products in the same way. DePay is now integrated into the DeFi messaging platform iMe, which is based on Telegram open source.

DePay also includes an ERC-20 token, DEPAY, that may be used in a variety of ways. The utility is first, as it can be used to pay for DePay PRO when it opens, followed by liquidity staking and governance. Binance Smart Chain will soon get a crypto payment extension.

DePay’s solution for crypto contributions was recently presented at a United Nations meeting, and the project has collaborated with Unmarshal in order to develop a decentralized payment network.

DePay was founded in Zug, Switzerland’s “Crypto Valley,” when CEO Sebastian Pape set out to find an answer to the burning issue, “What is the missing component for crypto payment mass adoption?”

ALSO READ : DIGITAL MONEY FOR THE DIGITAL ERA- USD COIN