What is StablePay?
StablePay is a decentralized payment platform in the Ethereum network secured by Smart contracts. StablePay allows you to send any tokens (ETH and ERC20s) and the receiving person gets a stable coin pegged to the USD (DAI).
Which are the uses cases for StablePay?
StablePay allows you:
- Send or receive donations/tips to open source projects in Github/NPM in DAI.
- Add a tip/donation button to your blog or content for accepting DAI instantly, your followers/readers can choose to pay with any token, you get DAI.
- Send a personalized link to request payments via URLs that are safe to share on social apps, email or any other channel.
- Integrates to your favorite wallet.
- Track your sent and receive transfers in your personalized dashboard.
- Get your DAIs instantly deposited to Compound to start earning interest immediately as soon as you get paid. (coming soon)
- Get notifications on payments to your email or phone (coming soon).
How does StablePay works?
When you want to make a transfer with an ETH or an ERC20 token, StablePay checks the token requested for transfer and using an off-chain query we find the most suitable swapping provider out of our supported list (Uniswap, Kyber) and select the best match given criteria like liquidity, best price, etc. This selected provider it's then feeding into the contract as part of the transaction the user signs to send the transfer. This off-chain calculation is meant to lower gas costs for users of the platform. Since the contracts support multiple providers a user could feed manually any provider without the off-chain component as well.
Are the smart contracts audited by any independent security company?
Yes, the smart contracts are being audited by Quantstamp. After the audit process is fully complete we will be publishing the report and results of the audit.
Is StablePay safe? What is the risk?
We are fully a noncustodial platform thanks to the power of Ethereum’s smart contracts if the transaction is unable to finish for some reason, all funds are reverted back. In this case, you would only incur the gas costs and your funds will stay safe on your wallet. We do take security very seriously so we have implemented several measures and best practices to minimize the risk of funds being lost.
- Our code is being audited by Quantstamp.
- Our contracts don’t hold any user's funds after the transaction has been finalized.
- Our platform will cap payments to a safe amount on launch as we test out the platform on mainnet. This amount will increase progressively after launch.
With all that said we like to note that there will always be risks with technologies like smart contracts, so usage of this platform falls entirely under the user's risk.
- Our contracts are upgradable and pausable.
Can I cash out to Fiat my DAIs with StablePay?
We plan to support several integrations with partners that handle fiat off-ramps so our users can cash there DAIs and tokens to fiat. (coming soon)
What is Ethereum?
Ethereum is a global, decentralized platform for money and new kinds of applications. On Ethereum, you can write code that controls money, and build applications accessible anywhere in the world.
- You can find a good in depth explanation here.
What is a Stable Coin?
A Stable Coin is a cryptocurrency that is pegged to another stable asset. On launch we will support DAI which is pegged to the US Dollar.
What is an ERC20 token?
ERC20 tokens exist on the Ethereum platform. The native currency on the Ethereum network is Ether. ERC20 is just a standard that specifies how these tokens work. This is a good video explaining them more in depth. here
What are the official channels of communication?
Official announcements are done using our official social accounts:
StablePay ask for personal or payment information through Direct Message.?
StablePay will never ask any customer/user for personal or payment information through Direct Message. Please, verify our official channels of communication.
Why do I need to enable tokens for payment?
To send a token, the user must enable the token to allowance permission StablePay Smart contracts to move your token.
How is the exchange amount calculated in the checkout page?
We use an off-chain calculation that takes into account several criteria like liquidity, price, etc; out of the underlying swapping providers, given the selected token for payment, current prices and availability on supported dexes and gas cost of the transaction.
Can I get paid on different addresses?
The button widget is configured only to use one address. You can generate a different widget with different addresses and add them to your GitHub repo or website. We recommend that you use only one to keep better control of the transactions in your dashboard. We plan to add an aggregate dashboard and more support for addresses depending on the user’s feedback and feature priorities.
Can I configure my payments to be received in Ether or other tokens?
At launch will be supporting only DAI as receiving token, but we will add support for more tokens soon based on the user’s feedback.
Do you plan to support sending or receiving Bitcoins?
For the time being Stablepay will be focused on the Ethereum network and the tokens supported within the network, mainly Ether and ERC20s. With that said on launch, you’ll be able to pay with WBTC which is a token that represents bitcoins on the Ethereum network and soon after launch will enable support to receive WBTC tokens as payment coins.
Can I pay with my favorite XYZ ERC20 token using Stablepay?
We support most of the ERC20 tokens that have liquidity on our swapping providers (Uniswap and Kyber). If your favorite token is supported you will be able to use it with Stablepay. If your token is supported and you have trouble making payments with it send us an email to firstname.lastname@example.org .
How can I verify whether an ERC20 token is supported or not by StablePay?
Here is the full list of tokens we currently support for payments. (list coming soon).Or send an email to email@example.com
if you are interested in a specific token you don’t see
What is the cost of using Stablepay?
Users making transfers through Stablepay will only incur the gas costs of the transaction. For users that intend to receive payments, configuring the widget and signup to the dashboard is free as well. All DAI payments to DAI payments are free of fees. If the paying user chooses any other token than DAI we charge a small service fee of 0.5 % of all amounts received. In the future, we plan to explore other funding models.
Can I receive my payments or donations directly to Compound?
Yes, we support receiving your DAI transfers supplied into Compound
for you. We plan to support more loan protocols in the near future.
What other swapping providers do you plan to support?
The platform has been designed to be flexible enough to add support for many more DEXes and swapping providers, we will be asking feedback to our users to decide which providers make the most sense to integrate next. There are plans for 0x, air swap at the moment, but these may all change depending on priorities for other features.
Is StablePay open or decentralized?
Currently, the StablePay platform can be accessed by anyone like any other protocol on the Ethereum network.
The plan is to publish the backend code that supports the platform to be used and deployed by anyone and keep the option open to use your own APIs or use our existing API backend.
Fees are currently set for everyone using the platform and the admin address is controlled by the StablePay team while we improve the platform and continue improving it for all users.
As a long term plan we will explore options that would best suit the platform and our funding model, we are considering DAOs as a possible governance model, but priority number one is to improve and extend the platform.
How is StablePay funded?
MakerDao provided a small grant to develop and launch, for the most part, we are a self-funded team and open to other funding options. If you want to help with funding, please contact us at firstname.lastname@example.org
How can I help the project
If you are a developer our contracts are open source and would be open to any PRs or improvements from the open-source community.
If you are not a developer we also accept help with documentation, any promotion you can send our way and grants.
If you are a user interested in using our service, we value very much your feedback, comments, and suggestions. You can send us feedback report issues to email@example.com
We also accept donations through our own widget here
Any amount is welcome which helps us whit our operational costs and our coffee :P.
Anything else you can contact us directly at firstname.lastname@example.org
What do I need to user the widget button on my Github repo or website?
You only need a valid Ethereum wallet address
that you use to start receiving your payments and configuring the widget button generator, no sign up required.
Do I need to sign up to configure the widget?
You do not need to be signed up to configure your widget, but you do need a valid ethereum wallet address that you control to get your funds. You can sign up for our dashboard here: https://stablepay.io/dashboard
if you want to check your received/sent transactions.
How can I configure the widget for my Github repo?
To configure your widget follow these steps:
- Click the bottom “Get started” in StablePay home page or click here to take you to the form page.
- Select the type of widget you can select “Donation” or “ payments.
- If you selected “Donations” widget type, this will give you the option to add amounts of suggestions.
- Recipient Address: Add your Wallet address to which transactions can be sent. If you don't have a wallet, you can create one. See here how to create a wallet address.
- Name: Add the name to identify who a Donation or payment was made.
- Callback URL: This will be returned to your website when a successful transaction takes place. For example “ https://example.com/success/”
- Select the theme for your widget. Whenever you select the button will automatically switch the theme or you can easily configure your button theme.
- Select the code that was generated with the information you added. Select the code that best suits your website and paste it into your HTML code web page
What do I need to configure the widget for my website?
You will need
- Wallet Address: To which transactions can be sent.
- Name: To identify who a Donation or payment was made.
- Callback URl: This will returned to you website when a successful transaction takes place.
How can I configure the widget for my Website?
To configure your widget Follow our docs here
How do I add the widget to my website?
To configure your widget Follow our docs here
Do I need to have ETH to configure the widget button?
No, you don't need to have ETH to configure your widget.
Is there any cost for setting up the widget button ?
Setting up your widget is completely open and free, no need to sign up either unless you want to track your transactions in our dashboard.
Can I change my Widget button information?
You can change your widget button information at any time by going back to the generator page and changing your data. You will need to replace the existing code in your GitHub repo or website to update it to your new settings.
Is it necessary to have experience in coding to configure the widget?
Very little or no coding experience is necessary to configure the widget for most use cases.
For a Github repo is a normal link you paste into your main Readme file.
For your website, you need a little more knowledge of HTML to paste it correctly into your site for tips and donations.
For payments, you may also need to have a callback page to return your user after successful payment.
Can I request a payment using StablePay without having a website or widget button configured?
Yes, you can use our link builder tool here
Does StablePay have any guarantees against frauds or issues with the payments?
We currently don’t support any cashback policy or fraud protection, since the Ethereum smart contracts transactions once confirmed are final and no money can be returned after that.
We encourage users to use the platform for Tips/Donations and transfers as primary use cases.
For eCommerce and shopping, although is enabled, users run into all the risks we detailed above both for merchants and customers. There is no possible enforcement the platform can make to return stolen funds and locked out fraudulent websites.
The users are entirely responsible for their usage of the platform and no fraud protection or chargeback style of policy is possible as of now with Smart Contracts since this is digital money being exchanged directly.
As we improve the platform we plan to make eCommerce payments more robust and safe for both parties involved. If you want to try out the eCommerce payments please contact us directly at email@example.com
and we can help you with your specific case.
What is the StablePay Dashboard?
The StablePay dashboard shows you an overview of your historical transactions either received or sent over time. The dashboard is organized to hold important information from each of your transactions. You can track dates, times, transaction hashes, amount received or sent and links to view your transactions on etherscan not unlikely most payment platforms you may be used to on the web. Sign up here
for your dashbord
How can I access the Dashboard?
You need to sign up here
to be able to login and access your dashboard. This feature is completely opt in, and you can configure your widget button without signing up. The dashboard is additional convenient feature to track your transactions and also soon you can get notifications on them directly to your email or phone.