TransacX is an innovative on-chain mandate payment protocol designed to efficiently manage periodic transactions in both ETH and ERC20 tokens. This protocol introduces automated micropayment capabilities to Gnosis accounts, enabling seamless recurring payments for various services and applications. TransacX can be utilized for subscription-based models, such as those employed by traditional service providers like Netflix, Google, eCommerce subscriptions, and a wide range of web3 applications, including budgeting, accounting subdao funds, and more. It empowers both payers and payees with the flexibility to control micropayments, allowing payers to withdraw funds in case of unsatisfactory services and payees to suspend services when payers are unable to meet their subscription obligations.
Traditional banking systems offer mandate and credit payment solutions for managing recurring transactions. TransacX addresses the need for similar functionality within the crypto and blockchain space. It streamlines the process of making small, frequent payments by providing an on-chain solution that can be easily integrated into various applications. This not only simplifies crypto payments but also opens up opportunities for new use cases, such as non-custodial decentralized savings accounts (DSAs) and dollar-cost averaging (DCA) strategies.
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Automated Micropayments: TransacX enables automated, periodic payments in both ETH and ERC20 tokens, making it suitable for various subscription-based models.
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Flexible Control: Users have the authority to stop micropayments if they are dissatisfied with services or if the payer is unable to fulfill the subscription requirements.
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Integration-Ready: TransacX is designed as a proof-of-concept (POC) that can be easily integrated into other projects and applications, offering a scalable solution for managing micropayments.
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Multi-Chain Support: Future developments aim to expand TransacX's capabilities to support multiple blockchain networks and token transfers, making it even more versatile.
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Wallet Recovery: The ultimate vision of TransacX is to unify payments and wallet recovery, simplifying the crypto experience for users.
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Non-Custodial DSA: TransacX can also serve as a module for Dollar-Cost Averaging (DCA), providing a non-custodial solution for managing cryptocurrency investments.
TransacX leverages the power of blockchain technology to automate recurring payments. It allows users to set up mandates for periodic transactions, ensuring that payments are made on time and without the need for manual intervention. This opens up possibilities for a wide range of applications, from subscription-based services to decentralized finance (DeFi) strategies.
We welcome contributions from the community to help us improve and expand TransacX's functionality. Comment or open PR is required.
Our roadmap includes plans to enhance TransacX by adding support for multiple blockchain networks, improving user interfaces, and exploring new use cases for automated micropayments.
For any inquiries or feedback, please contact us at contact@TransacX.com.
Thank you for your interest in TransacX! We look forward to revolutionizing the way micropayments are managed in the crypto and blockchain space.