Stellar Community Fund

By P'aid Payrolling

P’aid Payrolling

SCF #26

$50.0K

Legacy v5.0 Activation Award

Awarded

Easy and affordable payroll with Blockchain abstracted away!

Products & Services

International payroll and disbursement of aid is expensive and slow. The SDF has done a great job in building the Stellar Disbursement Platform as a solution to this problem. However, after speaking with businesses that benefit from this solution, we have identified that as it stands, it’s too complex for them to use it. Their main issues are:

- Having to create a Stellar public key - Having to buy stablecoins somewhere - Managing private keys in a secure way without too much complexity - Requiring dev resources to set up their own instance of the SDP - Having to research potential wallet partners

P’aid is a payroll and aid distribution SaaS solution built on top of the SDP. Within P’aid, businesses will be able to:

- Create an account effortlessly without requiring dev resources - Manage private keys through SEP 30 without any complexity, including 2FA - Deposit their local currency easily directly in the UI - Preselected wallet partners based on their payout needs - Payout without having to create a Stellar wallet or buy XLM as the platform will sponsor all balances and fees - In the future: Set recurring payouts via a Soroban integration

Problems It Solves, How It Solves Them, and Target Audience: P’aid focuses on businesses that payout funds to a diverse international audience, be that companies with an international workforce, aid organizations, or web3 companies with a global development team. These companies run into high transfer costs and long transfer times. Blockchain and more specifically the SDP can help them solve this. However, we have identified that potential users still experience too many hurdles, as described above. We will abstract away things like running your own SDP instance, managing private keys, paying for minimum balances and fees, depositing funds into the platform, and in general build a UI that these businesses can understand and use.

How It Works and Utilization of Stellar: P’aid will realize a seamless user experience by integrating Stellar in the following way:

- Multi-tenant architecture built on top of the SDP: Users create an account inside P’aid and don’t need any dev resources themselves. - Fee bumps and reserve sponsoring: Users that create a P’aid account are given a Stellar wallet with sponsored reserves so that they don’t have to do this themselves. They also won’t require you to purchase XLM to pay for any fees. - Users will be able to deposit funds directly inside the UI via banking partners, integrated via SEP 6/24 or API. - Automatic wallet recommendation: Based on the geographic location of the recipients, the platform will recommend a wallet partner. No need to research this as a business yourself. - Companies will not have to manage their own Stellar public key and private keys. With SEP 30 we will offer them seamless 2FA. We are also researching account abstraction by the use of Soroban for this purpose. - Preferred currency based on the location of the business, which connects the company with local anchors to deposit funds into the platform. - Using Soroban to schedule payroll disbursements.

We will contribute to the open-source SDP where relevant. However, we will also require building our own back-end to, for example, save a business’ preferred currency, available anchors, connection between anchors and fiat currencies, deposit statuses, available Stellar currencies, etc.