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.