Stellar Community Fund

By Beans app

Beans app

SCF #21

$73.8K

Legacy v5.0 Community Award

Awarded

Beans is a non-custodial payments and savings app built on Stellar.

Products & Services

Recurring merchant payments

What it is: Set recurring payments to outside stellar accounts.

Problem & Solution: Projects on Stellar might want to offer subscriptions to users, but would need to do a lot of work to integrate all anchors into their platform. We want to offer Beans as a solution there. Outside projects can request recurring payments from Beans users via a link or QR.

How it Works & Uses Stellar: The user will scan a QR that works with the merchant check-out API we have built. This deeplinks the user to the app, here the user should confirm the proposed recurring payment. Next the app will invoke a smart contract that sets the payments.

Smart wallet infrastructure

What is is: Back-end change to better support future Soroban & DeFi integrations.

Problem & solution: As some might have seen we have done a PoC on a Blend lending pool integration into Beans. This PoC has been done in a separate environment where we cut out our current savings balance and replaced it with Blend lending pools. During this PoC, we have realized that we need to update the back-end to be better suited for integrations with Soroban. One of the key elements is that we now have currencies that are either spendable or savings currencies. However, when working with Soroban, spendable currencies like USDC, actually go into a smart contract and thus are also a savings currency. This is not how the current back-end is set-up.

How it works & uses Stellar: We will update the back-end to smoothen integrations with protocols like Blend. In the future, this will allow us to support multiple savings protocols at the same time, while that is not the case right now.

Country based recommendation

What it is: Recommend the best deposit currency and method based on location.

Problem & Solution: We’d like to incorporate location to determine the best currency/method to deposit with.

How it Works & Uses Stellar: We will fetch the users location and use that to recommend a specific deposit currency. In a future iteration we will use the location to determine the best method and anchor as well.

Send to any phonenumber

What it is: Send money to any phonenumber, even if it’s not a beans user yet.

Problem & Solution: Users want to send money to friends that do not necessarily have the app installed yet. We want to provide a way to send money to any phonenumber in a decentralized way, so that users don’t have to first ask their friends to download the app.

How it Works & Uses Stellar: We are using SEP 30 for this and have completed most of the work needed, we just need to create a flow that merges the funded account back into the original account as well as some UI changes. This work was scheduled during our previous entry, but because of the shift of focus isn’t completed yet.

QR/link check-out public API

What it is: Allow other companies to generate pay with Beans links/QR codes.

Problem & Solution: We have done a lot of work to make on/offramping very easy and accessible. We want to offer this to other ecosystem companies as well.

How it Works & Uses Stellar: We are building a public API that generates a link or QR that includes amount, currency, destination address and a webhook callback + optional memo. A Beans user scans the QR and pays with their preferred currency. The webshop now never has to know what type of transaction they have to set-up, they just generate the link and Beans will generate the corresponding transaction. Webhooks will allow the merchant to move on with the payment flow when the transaction was completed. The API is ready, next we will build a javascript SDK and set-up the documentation.