Zebec Protocol: Flow Payment on Solana ｜ Project Introduction

In our cognition, the buying and selling behavior is usually "payment in one hand, delivery in one hand", and the event occurs at a specific point in time. But all our transactions are not as simple as money and goods. If the "goods" here are concrete, it can refer to the video purchased, the music listened to, the labor paid, the return on investment...

We will find that this kind of "goods" is continuous and cannot be delivered to the hands simply at one time. So since the "goods" cannot be delivered at one time, is there a way to make the "payment" have such continuity?

A brand new payment method appeared at this time: stream payment.

As the name suggests, flow payment makes money like water, continuously transferred from one account to another, such payment behavior occurs in a specific time period, not a certain point in time. The Zebec we are talking about today is such a streaming payment protocol.

How to use Zebec

The Zebec Protocol is a continuous settlement protocol that enables instant settlement of financial transactions between parties directly through Zebec. To put it simply, you can make continuous payments to other accounts according to the time and amount you set.

It is also very simple to use, as shown in the following figure:

After connecting the wallet, find the sending interface, enter the recipient’s wallet address, and select the Token you want to pay. Currently, this project only supports SOL, USDC, and USDT Three, enter the quantity, and select the time period from the beginning to the end. The time here is specific to the minute. Click Send, and it will start streaming payment according to the mode you set.

But why do we have to use stream payment? What benefits can flow payment bring us?

The role of flow payment

For the cultural industry, flow payment not only protects the rights and interests of users, but also facilitates the distribution of benefits for the output party.

Take watching movies through the App, the current payment scenario is usually paid to watch. If it costs 10 yuan for a movie, for users, that is, I need to pay 10 yuan in advance before I can watch the movie. If I see half of it and don't want to watch it, I pay the price to watch the whole movie. But streaming payment can solve this problem. If I watch half of the movie, I only need to pay 5 yuan. That is to say, I only need to pay the corresponding money for how long I watched the movie. The whole process is automated, so that Users do not need to spend extra money, which ensures the interests of users.

For the output party, the income obtained through a movie should be distributed to the hands of various interested parties, such as investors, producers, distributors, etc. Stream payment can prevent the uneven distribution of interests of all parties. Even, as just said, the user pays 10 yuan for watching the whole movie, then the 10 yuan will be gradually distributed to the accounts of each party according to the ratio previously set by each party.

Not only watching movies, but also continuous transactions such as listening to songs, reading e-books, refilling memberships, renting, consulting, parking, etc. For users, stream payment has a very wide range of application scenarios, and For the matter of salary payment that is closely related to us, streaming payment is also a good choice.

Normally, everyone has to wait days or weeks for last month's salary. However, this problem can be easily solved through stream payment. People can obtain real-time work rewards and strive for the time cost of using funds.

For investors, stream payment is even more useful. Investors do not have to give all the funds to the investee at one time. As time goes by, the investee will gradually receive the funds for project construction. Investors can also judge whether it meets their expectations according to the progress of the project, and if not, they can terminate the investment at any time.

All parties can protect their own interests through the characteristics of high-frequency, multi-flow and fragmentation of flow payment, and solve the problems that are difficult to solve in the existing payment system to a certain extent, such as Zebec .

Zebec application scenarios

Zebec, built on Solana, enables real-time, frictionless and continuous flow of payments through Zebec, enabling businesses, employees and consumers to completely reimagine how they pay, invest and buy products or way of serving.

Zebec Pay is Zebec's first application as a low-fee payroll solution. Through it, the salary payment application scenario above can be executed. For example, if A wants to spend 50 SOL to hire B to do a 40-day job, he can pay B every second through Zebec Pay. If A is not satisfied with B's work, and vice versa, both of them can cancel at any time Stream payment, B can also withdraw the received money from Zebec.

Zebec can not only be used for remittance and collection, in addition, users can also use Zebec Pay's native financial services, such as automatic encryption investment, DeFi mining income, etc. details as follows:

1. Automatic dollar cost averaging investment: Users can automatically convert a certain percentage of their salary into top cryptocurrencies in real time and by the second. Similar to the real-time payment of wages, the mainstream currency will be invested according to the ratio set by the user.

2. Investment and liquidity mining: Users can also invest in other favorite tokens through easy-to-program smart contracts, or conduct DeFi liquidity mining to obtain income .

3. Crypto IRA and 401k Accounts: Users can allocate a portion of their salary to compliant crypto IRA and 401k accounts. (Note: Both IRA and 401k are pension accounts, which have benefits such as deferred taxation for users)

4. Free fiat ingress and egress: Users pay no fees to convert their cryptocurrencies to USD and transfer funds to their regular banks account.

What kind of changes will different payment methods bring to the Internet financial ecological environment? This proposition has attracted the attention of many well-known investors.

Project background

After Zebec Protocol announced the completion of a $5.5 million seed round of financing on November 10, it again announced on February 23 that it had completed a $15 million private placement led by Solana Ventures and Distributed Global. Not only that, but many well-known investors participated in the investment, such as Lightspeed, Alameda Research, Coinbase, OKX Ventures, Circle, Greenoaks, DST Global Partners, Goldentree, etc. Its funds are intended to be used to scale its products to support crypto adoption.

The following is its roadmap:

Zebec plans to conduct real-time aggregation, additional agreements, and hackathons in the second quarter of this year, decentralize rights in the third quarter, and establish a pledge pool, community, and DAO.

Comparison and summary

Zebec's vision is to replace the traditional financial system. Zebec's exploration of payment methods encourages different users to control their own assets in a more flexible way. The programmable nature of the protocol enables other projects to establish continuous connections with user balances, automatic payments, investments and transactions, etc., enhancing its composability , thereby creating more possibilities.

Similar streaming payment protocols include Drips launched by Superfluid, Sablier, and Radicle.

Superfluid is currently only available on the xDai and Polygon networks, and you can use wallets such as MetaMask, which are used in almost the same way as Zebec, in the form of packaging and sending.

Sablier was established earlier, it was deployed on the Ethereum mainnet, and it also developed Dapp, which is a step further than the other two. At present, there are many currencies that can be supported, including DAI, Aave, 1inch, Aleph, SAI, USDC, cDAI, cUSDC, etc. If there is no currency in the wallet that you want to send, it also supports directly jumping to the one for users to buy channel. To use it for streaming payment, you need to choose a time period to pay directly, and the time is specific to the hour, such as 5 hours, or 1 year, 2 days and 3 hours.

Drips launched by Radicle is also an Ethereum protocol. It also allows users to make streaming payments. Creators and developers can also issue and sell NFT memberships. The form is relatively fixed. Although it can also be distributed to multiple accounts, you can only choose how much DAI to send every month, and the time and currency are relatively fixed.

In general, compared with other projects, Zebec is more flexible in time, form, and combinable methods. It is convenient for enterprises to pay wages, and for investors to facilitate fund management. For ordinary users, they can choose a variety of financial services while ensuring their own interests. However, the number of currencies still has room to grow.

The composability of DeFi is booming on the chain. I don’t know what kind of surprises will be brought to us when the composability of payment is greatly improved.  

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