Swapay : Crosschain Transafers - UCG Aplication

Astar Initiatives dApp staking applications
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Hello, Astar community, my name is Sergio and I am representing the whole Swapay team. Mainly I create this post to show you our project.

Swapay was born from the hackathon of ETH Cinco de Mayo, Mexico, where Astar gave us their support in advice and mentoring, also, we were winners of the first place :smiley: in the DeFi track.

@Juminstock provided us with their support during the hackathon by offering advice on various points

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We want to improve our product and make it a scalable application within the Astar zkEVM ecosystem. Here we present our project:

Swapay is a tool that allows users to make immediate payments through a payment link, where users decide which cryptocurrency to use to collect and pay, to avoid having to make an external swap due to not having the cryptocurrency where the payment is requested.

  • The way it’s going to work

  1. The beneficiary user enters the Swapay platform and selects the option generate payment link.

  2. In this interface to generate the payment link, the beneficiary enters the debtor’s email, selects in which cryptocurrency they want to receive their payment, defines the time in which the payment must be made and finally enters the amount to be paid.

  3. The debtor user will receive an email from Swapay showing the collection information, the debtor connects with his wallet so he can make his payment.

  4. The debtor selects the cryptocurrency with which he wants to pay and makes the payment.

  5. Swapay shows the debtor user the summary of their payment showing the commissions to be charged.

  6. Once the Debtor agrees, payment is made.

  7. The beneficiary user receives a payment confirmation email.

  8. And with this last the collection and payment flow in Swapay ends.

Business model:

The business model is based on charging a commission of 0.05% for the transaction amount.

For more information you can consult the following link : https://www.canva.com/design/DAF_hsWZFE8/eDcdj28bEDMUHGotappQvw/edit?utm_content=DAF_hsWZFE8&utm_campaign=designshare&utm_medium=link2&utm_source=sharebutton

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Interesting idea. I would like to ask some additional questions.

  1. Who are the direct and indirect competitors of the project? What are the strategies for attracting users from these competitors?

  2. What are the specific numerical goals of the project?

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Thank you for your application. Payments is one of the key solutions and expected areas of crypto.

  1. You are talking about payment with any crypto asset, what kind of architecture will the flow proceed with? I would like to know the flow as a system, not the user flow.
  2. In addition to the above, an image of the UI would be helpful.
  3. What is the roadmap?
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Welcome to Astar @SergioAguilr :grin: I’m happy to see more and more dApps coming to Astar.
I have a couple of questions :

  • How many members does the Swapay team consist of? Can you provide a history of previous experiences?
  • Who is the target? Who do you want to make pay with crypto?
  • How do you want to encourage users to switch to using your dApp instead of using other services?
  • Do you intend to publish a roadmap with deadlines and objectives to be achieved during 2024?
  • On the development side, which blockchains do you want to integrate in addition to Astar zkEVM? Do you already have any other kind of collaborations?

I’m curious to learn more about Swapay, I’ll wait for your response :smile: :handshake:

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Welcome. Glad to see you here and really like the idea, but I would love some more information regarding the architecture and how you plan to built this :).

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Hello @SergioAguilr,

Well done on winning the ETH Cinco de Mayo Hackathon and it’s great to see your interest in building on Astar’s network! :clap:

If you’d like to apply to the Unstoppable community grant program, you can consult the program here and you can create a proposal in this discussion.

You can take example from this proposal or from this template in our doc.

Good luck!

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@SergioAguilr and his team spent two full days building and validating their idea during the ETH Cinco de Mayo hackathon, but they still need to finalize some details with their project, which is why they are applying to the UCG program.

They have my support because they made the effort to build on the Astar zkEVM network, I wish them a lot of success!

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Welcome to Astar! Your project sounds interesting.
You mentioned it will be deployed on Astar zkEVM, but it might be better to deploy it on Astar EVM because the gas fee for Astar EVM is lower than that of Astar zkEVM.
Payment service generates many transactions, so I think gas fees become an important factor.

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Very good idea, Bao! It’s a vital thing to keep in mind when fully building the tool. @SergioAguilr keep an eye on this comment.

2 Likes