Suberra: Seamless recurring payments

Hi, we are the team behind Suberra, and we would like to solve the challenges of automated payments on the blockchain. Today, subscriptions within the crypto-industry still heavily rely on credit card payments. A decentralised on-chain recurring payment solution has yet to take mainstream.

Solution

Smart Wallet

Users can deposit into the smart wallet by sending tokens (such as UST) to our core contract. On the contract, users have full control of their funds and may withdraw or deposit anytime. These smart wallets are connected to a yield-generating protocol (e.g. Anchor Protocol) where the underlying collateral can be used to earn yields.

The smart contract governing the wallet enables the following innovations:

  • Recurring Payments
    Users will be able to manage all your subscriptions on a single platform, you can authorise a Merchant to deduct a fixed amount per time period. Rules encoded on the contract level ensures that only the right amount is deducted. We will provide a service to automate payment claims on behalf of merchants. As a consumer, the power always lies in your hands and you may cancel your subscription at any time.

  • Open Payment Streams
    Anyone can set up a continuous payment stream, which disburses payments slowly to a recipient over a set period of time. Essentially, a payment stream (see sablier.finance) unlocks an ever increasing token amount over time for the recipient to claim. We think that there are limitless use cases that can benefit from payment streams—payrolls, token-vesting, donations, and the list goes on.

  • Interest Generation on Funds Committed to Payment Streams
    Unlike ERC1620, we do not simply lock up the amount that is committed in the contract. Instead, we will allocate the capital to a suitable yield-generating strategy (such as connecting to AnchorProtocol) and only withdraw it when needed. This way, users can collect yields on the committed deposit in the stream. We think that this will be a great way to attract users to commit a larger amount of capital into the payment stream.

Merchant Integration

In the first product release, we will focus on subscription payments to fill the market gap in crypto today. Currently, we do not see any payment infrastructure who facilitates recurring crypto payments, and we want to address this first.

Merchants can integrate subscription payment methods by using our SDKs. A merchant dashboard for viewing their revenues and customers is also in the works.

If you are a merchant who is interested in using this product to accept recurring UST payments for your users’ subscription, we are interested to hear your thoughts as well! Please drop us a message to indicate your interest :slight_smile:

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Nice! I tried to bring this project on Terra during the latest hackathon ( Adam Finance - continuous, autonomous and trustless payroll ) but couldn’t find a teammate. If you need a front-end developer to help you, let me know :+1:

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How do i get involved ?

How are you pitching it to merchants? Is it eliminating cc processing fees?

Thank you for your question.

Benefits to the merchants:

  • Gain potentially perpetual customers (low churn since customers can deposit and forget)
  • Higher conversion by providing smaller monthly payments (opposed to a single large payment)
  • Attract crypto-savvy customers segment that prefers on-chain crypto payments (anonymity, etc)
  • Lower fees when compared to cc payments

Hey zlace, nice mockup! May I ask you for which markets you plan the merchant integration? Is it the US? Thanks!

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Hi Danku,

Thanks for your question, sorry took a while to reply, currently we don’t have a target region, we will be integrating with crypto-native services such as Delphi Digital who operate globally.