DePay – An Advocate for Truly Seamless Web3 Crypto Payments
The internet is going through another paradigm shift with Web3, enabling a human-centric and privacy preserving future via a system of peer-to-peer networks without the need for third parties. Cryptocurrency is often part of the conversation for Web3, and DePay is positioning itself to become the leading decentralized payment protocol with a focus on inexpensive, immediate, trustless exchange of any cryptocurrency right on-chain.
DePay is a fully decentralized, any-to-any token, multichain payment protocol built on top of existing DeFi liquidity protocols such as Uniswap and PancakeSwap. DePay allows integrators to easily offer crypto payments to their customers and calculates the most-cost effective payment routes for users by converting multiple tokens already in their wallets.
Tokens or cryptocurrencies readily at the users’ disposal should not go to waste or lying around waiting to be transferred through a costly process. DePay takes advantage of those assets that can be exchanged in real time as part of the payment transaction, making it easier for everybody to accept and perform cryptocurrencies in a user-friendly interface. In other words, DePay simplifies crypto payments.
Speed and Efficiency
DePay sees that vendors and sellers often have to go through additional token conversions on various exchanges, creating unnecessary friction, wasting time and adding up fees, ultimately ending up missing out on a lot of potential revenue. This is unfair to those who welcome the mass adoption of crypto, and they should be able to pay without detours and without being concerned if a payment processor prefers a certain blockchain over another.
DePay is the only 100% decentralized payment solution where users do not have to sign up, can forgo the middle-man, and have every payment go directly into their wallets. For integrators, DePay is also super simple to integrate, which is basically just a small library with some lines of code, and voila! – people can officially start accepting payments on their website or dApp.
The platform connects token ecosystems for instant, permissionless, and secured transactions to commit to the way blockchain technology was intended to work: peer-to-peer. Its any-to-any token payment conversion outperforms existing payment solutions by a landslide, enabling more than 40,000 tokens across Ethereum and BSC to be used as means of payment. This is an unprecedented level of interoperability.
DePay’s ability to automatically scan a user’s wallet, detect and suggest the most cost-effective payment route in real-time is unrivaled. It can run through the connected wallet to look for all tokens of value, filter them by availability of DEXes, precisely calculate the most economical way of paying, offer that route as a means of payment and guide the user to interact with the blockchain to perform the payment. Its tools convert cryptocurrencies at the drop of a hat (within the same transaction), and send the requested cryptocurrency to the payment receiver. Even though 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 available and exchangeable asset within their wallet to pay.
Currently, DePay is routing anything-to-anything payments through existing decentralized exchanges like Uniswap or PancakeSwap, raising the number of accepted cryptocurrencies in the Web3 ecosystem by a thousandfold.
On top of that, it is offering an entire product suite all in the context of crypto payments, like donations, subscriptions, sales, swaps, payroll, credit etc. And there are many other procedures that DePay can simplify, for example Launchpads, Staking Pools, and NFT Exchanges
A Wide Range of Products
DePay strives to create a positive and lasting impact on blockchain and change the finance world as we know it. Through embracing efficient and simple-to-use decentralized payment solutions, developing new products and services, DePay can help people realize the significant benefit of decentralization for payments as it aids in the prevention of fraud, reduces regulatory intervention, and promotes financial efficiency by allowing peer-to-peer transactions without the need for a third party.
The majority of DePay’s products are presented to end-users in the form of user interface components (widgets). These are based on the latest technologies (e.g. Facebook’s React). The products are hosted on InterPlanetary File Systems (IPFS) in order to ensure end-to-end decentralization.
First, let’s look through the DePay Basic Products package. The star of this show is DePay Payments, a widget that is free and simple to integrate into dApps and websites, requiring only a few lines of drop-in code. The complicated steps to complete payment are decluttered down to an automated, two-click procedure interface that eliminates the need to send buyers off-site to another probably unfamiliar DEX to get the required cryptocurrency — a process that frightens crypto beginners and increase the chance of users abandoning ship.
The company also has many other products in development, most noticeably is DePay Sales, which lets buyers directly purchase the dApps’ own tokens. The rest includes DePay Swap, DePay Subscriptions, DePay Wallet, DePay Credit Cards, DePay Payroll and DePay Credit.
Second is the DePay PRO bundle, which is how the company plans to monetize its products. This is a premium subscription-based product of professional applications built with Ruby on Rails, deployed within an advanced architecture in order to ensure optimal performance, stability, and availability for businesses. DePay PRO offers an all-inclusive payment dashboard with tools like filters, search functionality, and analytics, as well as customer profiling data, invoicing and financial reporting tools, data export capability, and integration with mainstream products like CRM platform Salesforce. Businesses would either need to pay DEPAY tokens monthly or stake a bigger amount one time to unlock those features.
DEPAY is the native token of this protocol.
Token name: DePay
Token ticker: $DEPAY
Network: Euthereum and Binance Smart Chain
Type: ERC-20 and BEP-20
Total Supply: 63,000,000 $DEPAY
Final Total Supply: 32,000,000 $DEPAY
– powers and unlocks the overall DePay PRO ecosystem, with utilities across various payment products and services
– grants ownership of the DePay protocol governance, DePay basic products, the protocol fee switch, and the DEPAY governance treasury. DePay plans to hand over all protocols and basic products to community governance in 2023.
– used for staking
Additional future utilities of the DEPAY token will constantly be discussed in the community and the governance.
DePay Token Utility Overview
Based in Zug, Switzerland, the DePay core team consists of the Holy Trinity of Crypto: Engineering, Growth, and Finance, representing each of the core members.
– Sebastian Pape, who started developing software at an early age and studied computer science and interaction design. He has extensive experience building applications for big IT companies serving millions of users while also leading technical teams by example. Sebastian started building on Ethereum in 2018 and in September 2020, Sebastian had the idea to build a payment widget on top of DeFi and implemented the first beta version of DePay at the ETHOnline hackathon in October 2020.
– Alexander Paul, a growth hacker with over a decade of experience in SEA, SEO & Digital Analytics. He founded his first Crypto related business in 2014. He was responsible for managing seven-figure advertising budgets whilst implementing one of the world’s largest Content Marketing projects.
– Aleksandar Mladenovic, a chartered accountant with Deloitte in December 2006, supported by a brief secondment in Boston during Q1 2007, who has more than 13 year of experience in credit risk business analyst supporting numerous regulatory driven project initiatives across various top tier banks.
In the long-term, DePay plans to enable all NFTs to become means of payment and expand to all major blockchains in the foreseeable future.
Visit DePay to find out more:
Website | Twitter | Youtube | Telegram Channel | Telegram Group
The DePay whitelist on BSC is currently open and drawing huge attention. DePay wants to begin executing a deeply thought out and well-prepared IMO and expanding to Binance Smart Chain is a key and fundamental strategic step in order to attract new partners, integrators and token holders.
Writers’ opinions are solely their own and do not constitute any financial advice, investment advice or trading advice.
BSC Army strongly recommends that you do your own research and seek professional advice from a financial advisor where appropriate.