SabaPay - Decentralized Payment Protocol

Name of Project / DAO / Company

SabaPay

Application type

Grant

Proposal overview

SabaPay is an on-chain decentralized payment protocol that can be applied to many real-world business scenarios. SabaPay uses the blockchain technology and smart contracts to maximize trust and flexibility, and solves the problem that one-time crypto payment does not apply to time-based subscriptions or contracts with recurring payments.

SabaPay provides a more flexible and safer DeFi payment solution with improved privacy through its StreamPay platform and SafePay mechanism. Every payment could come with customized token rewards. All transactions are on-chain with improved transaction privacy by breaking the direct link between source and destination addresses. Every wallet automatically has an account on SabaPay and the account can be easily integrated into various DeFi yield generation platforms. Multiple transfer modes are available.

Through SabaPay’s StreamPay platform, users can send highly customized and time-based payments for subscription services, contractor services, and so on. Funds are released according to an agreed upon schedule and both parties are protected.

SafePay ensures fund availability and solves all the problems with wallet-to-wallet transfers. Funds sent through SafePay can be reclaimed if the transfer is not confirmed.

We already implemented StreamPay and SafePay features in the current version of SabaPay.

SabaPay is currently built on EVM. We have deployed the initial version of SabaPay on Ethereum Mainnet, BSC, and Harmony.

SabaPay has lots of real-world scenarios. We are working to develop SabaPay’s multiple applications running on Harmony and they are for payroll services, subscriptions, rent payments, e-commerce, and more.

We currently focus on integrating SabaPay with a point reward system on Harmony. Our partner company has over 5,000 members. We have other companies interested in getting a reward system with us that has over 50K active users. The SabaPay-Based Point System can support the organization structure and give rewards points using a branded custom token. We have already built the mobile apps which are actively used by the members. We believe Harmony’s quick transaction and low transaction cost is a perfect fit for the application.

We would need Harmony’s help to complete the code audit (the majority of our code is original and not cloned, so the audit fee is expected to be high). Harmony’s help and guidance can also speed up our deployment of the protocol and application integration with the new 1Wallet.

Deployed on Harmony Mainnet
SabaPay: 0x0E58Fd9C095665d67B394359751D368c833291bb
SabaVault:0xF6af840f650d8AbA7B06b6985BBA557481F74686
SabaAccount:0x4e66cb220ed070995360e4d4a8a6e176f9075700
SABA:0x9638a6D43c6eC92F2998134efC5DD91043df17ee
SabaStream:0xDb7b5AF06499A1125CAa70AfA2755809838c532C
SabaTransaction/SafeTransfer:0x42c6CF8482950EC473F61de5933bEAF37183c972
SabaSubscription:0x040460590Aa42C18d808652804CAAB2E85480405
SabaEscrow:0x5cEAa09466e9D07afAD7BfB25AAfb385F9684F2d

Team

We currently have a small team of developers and designers working on this projects. We are located in California.

Proposal ask

200000

Justification

$100,000 for point reward system (exclusively on Harmony) including integration, code audit, and user education.
$100,000 for SabaPay base integration and code audit

Metrics for success

Sabapay Users on Harmony especially with point reward system on Harmony in the next 6 months:
10,000+ accounts
80,000+ total transactions
15,000+ transactions per month

External links

http://www.sabapay.io/#/pay
We have related partners app already using the points system developed by our team. The details will shared privately.

1 Like

Hello, would you mind sharing the link to your project socials and GitHub repository. I would like to know more about your community and thoughts on the project from the community.

1 Like

Hello Mohan, thanks. we are still working on the projects (we are missing a defi portion and we are working on that part). The code is not audit yet so we didn’t open the source-code to make it a bit more secure when we test transfer using the protocol (we use internal git server at the moment), if you are from harmony team, we could grant a repo access to view the code.
About community, we haven’t start build one. We may do it very soon once we finish and hookup the DeFi piece of it. We will start with business community.
Thank you

1 Like

@flong I see a pretty grand roadmap in this proposal, and the scope seems intertwined with one another. Breaking this out a bit, I read these

SabaPay

  • a crypto payment system, on desktop and as a mobile app
  • EVM-based smart contract on Ethereum, BSC and Harmony
  • integrates a DeFi yield generation, earning interests
  • there are multiple transfer modes (not named)
  • will integrate with a point reward system with a partner company, and a potential future partner (not named)

StreamPay

  • is a platform able to send highly customized time-based payments
  • it can be used for recurring payments, but not necessarily

SafePay

  • provides a privacy features to decouple source and destination (mixer?)
  • has a clawback features if transfer is not confirmed

We’ll work with you to see what’s the best place to apply your focus and attention on to deliver the first set of features. My suggestion would be to break this down into phases.

Community feedback’s appreciated!

Thank you so much Jack.
We are currently wrapping up the DeFi part.
SafePay is like registered mail, not meant to be a mixer at the moment. SafePay is part of the SabaPay. Will provide our roadmap and other info.

We are currently working on a DeFi platform which helps to generate yield on the money that accumulated in the SabaPay Vault. This makes SabaPay more complete and allows SabaPay to adapt to any user scenarios.

We already deployed the SabaPay protocol, and we haven’t arranged a security code audit yet. There are several modules lined up for our implementation on SabaPay, one of them is a blockchain based rewards points system which requires low transaction cost and high performance. After the DeFi part is done, we plan to focus on this rewards points system.


The system leverages blockchain to make rewards points easier to manage and more valuable. Issuing rewards points to members and transferring points among members become more transparent. Bookkeeping becomes easier. What’s more, rewards points become more valuable because the system is flexible to convert points to various other tokens.

Once it is deployed on Harmony, the rewards points system will undoubtedly enjoy the low-gas-yet-high-performance benefit of Harmony. Two companies that have thousands of members intend to use our rewards points system.

Your suggestion and guidance of the project is very welcomed.

Based on our discussions, we’ll repurpose this grant proposal in a more specific vertical. Once you find one workstream of solutions that can be more specific and targeted, please resubmit a new proposal.

Thanks again for choosing Harmony.

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