Papaya finance: on a mission to open a web3 SaaS market and bring creator economy on-chain.
Integrate our open source protocol and trigger new revenue opportunities for your business on the blockchain
For those who don’t know it yet, Papaya.finance is an open-source protocol that aims to optimize cryptocurrency transactions by leveraging the power of its unique smart contract, written under the expert guidance of software engineer Anton Bukov, co-founder of 1inch.
Our smart contract allows the streaming of tokens on multiple chains, making subscription-based services on-chain convenient and efficient.
Imagine any SaaS with a freemium business model featuring monthly subscription tiers, or a platform that involves micro-payments for paid content and services. Thanks to the unique infinite scalability feature of the Papaya Protocol, it’s not only possible but also convenient to run these directly on-chain.
SaaS, DAOs, launchpads, DeFi protocols, creator platforms, and any project that deals with recurrent or bulk payments can immensely benefit from it. Papaya Protocol makes their money flows significantly more efficient while opening a new array of revenue channels.
Key Elements That Make Papaya Protocol Stand Out
In our protocol each stream operates at a fixed speed, transferring a set amount of tokens from one account to another every second. Accounts can have multiple streams. We track the total speed of changes for each account.
We are a stable system state that means that some streams have constant speeds. For each account, we record the total speed of all incoming and outgoing streams. Knowing an account’s total speed allows us to easily calculate its new balance without examining each individual stream. The formula is simple: old balance + (speed * time).
This explanation outlines the core idea and effectiveness of the system.
- Streams have constant speeds.
- Accounts track the total of all incoming and outgoing speeds.
- This total enables cost-effective balance calculations.
For example, Netflix has a billion subscribers. With our protocol, collecting their subscription would cost just 1 cent, unlike the current model where Netflix processes monthly claims from everyone paying multiple fees.
The Papaya protocol is not just a tool for recurrent crypto payments; it also revolutionizes the creator economy and opens up a new market for SaaS in the Web3 ecosystem.
Creating a new SaaS market for web3 services
We are free and open source, but the smart contract includes a function to set up fees, allowing those who use our smart contract to monetize in this way.
Think at on-chain analytics, community gamification tools, crypto publishers, and growth tools; the Papaya protocol will facilitate the development of new SaaS models specifically designed for Web3.
Flexible Revenue Models:
SaaS providers can leverage the discretionary fee feature to create tailored pricing models, offering flexibility in how they charge for their services. This can include tiered subscription levels, usage-based pricing, and more.
Decentralized Infrastructure:
Web3 services built on the Papaya protocol benefit from the decentralized nature of blockchain, enhancing security, reducing reliance on central authorities, and ensuring data privacy.
Enhanced User Experience:
With seamless integration and minimal gas fees, Web3 SaaS providers can offer a smoother and more cost-effective experience for their users, making blockchain services more accessible and user-friendly.
Interoperability:
The protocol’s compatibility with various blockchain platforms enables SaaS providers to create interoperable services that can interact with different blockchains, broadening their utility and appeal.
Bringing the creator economy on-chain
Expanding Social Media Platforms:
The Papaya protocol enables social media platforms to facilitate monetization for their users through recurring crypto payments. This allows platforms to support artists, writers, influencers, and other content creators in establishing a reliable income stream directly on the blockchain.
Direct Support from Fans:
Fans and supporters can subscribe to their favorite creators’ content or services using cryptocurrency. This direct support eliminates intermediaries, ensuring that platforms can provide a larger share of revenue to creators.
Transparent and Immutable Transactions:
All transactions are recorded on the blockchain, providing transparency and immutability. This builds trust between platforms, creators, and supporters, as every payment is verifiable and cannot be altered.
Global Reach:
By leveraging cryptocurrency, social media platforms can enable creators to reach a global audience without the limitations of traditional payment systems. This inclusivity expands their potential market and audience base.
To Conclude
The Papaya protocol is a groundbreaking solution that revolutionizes the landscape of recurrent crypto payments. It seamlessly integrates the creator economy into the blockchain and paves the way for the emergence of a new SaaS market tailored for Web3 services.
In essence, the Papaya protocol is not just a tool for handling recurring payments; it is a catalyst for broader blockchain adoption and the growth of decentralized financial systems. By enriching social media platforms with powerful monetization options and supporting the creation of cutting-edge web3 SaaS models, Papaya is expanding the horizons of what is possible in the blockchain space.
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WAGMI 👉🏻 papaya.finance!
