Stellar Community Fund

By Unalivio

Unalivio Stablecoin payouts

SCF #16

$82.4K

Legacy v4.0 Award

Awarded

Unalivio is a payments method that allows migrants to pay families’ bills from abroad with stablecoins, increasing sales for SMEs

Products & Services

We will be building the “Unalivio earnings payout system (UEPAS) for USDC on Stellar”; in short the UEPA is the method in which small and medium businesses will be paid in USDC for the goods and services provided to end users with migrant families (example: Venezuelan migrants). The system resembles a bill payout system except: The person paying the bill and the person receiving the bill are in different countries; At the moment of settlement the merchant gets paid in USDC, on soroban, via a smart contract that automates and controls payments. This system solves problems for the three key stakeholders in our cross-border-payment scheme: Migrant abroad: Is able to pay for their family’s needs back home, and doesn't have to pay an enormous fee for the cross-border txn. Also knows their money is going where it needs to go (the SME business). Family back home: Their bills are paid by their migrant family members abroad. Small business: Improves income as they received extra sales, paid in USDC, a dollar backed stablecoin which also is used to store value giving the business more flexibility in inflationary countries. The Soroban component works as part of our payments architecture: The process starts with a business registry, displaying a range of clinics, and products from within those clinics. We start with hospitals & pharmacies then expand into other services. Next step is the payment, which happens through integration with a cash-in gateway, and crypto conversion (Moonpay or more efficient solution). The ecosystem is managed in an internal admin panel, similar to an "Uber for drivers" where caregivers (clinics) sign in and provide the needed KYB to be accepted into our marketplace. Initial sign ups will be handled with a Business development team, where the Unalivio BD team, vets, and signs up more clinics, labs and care providers. After having the cash in system and service ecosystem ready, we deploy the smart contract on Soroban: 1) Soroban’s contract will serve as a part of the back end infrastructure to automate payments, eliminate human error in crypto addresses input, & minimize the need for trusts of administrators when input amounts. In short, the Soroban contract works as an automated, transparent treasurer. 2) Recipient's Stellar wallet(s) are registered including services, costs, and payment amounts for a payment to be triggered for their services. 3) Once a threshold is reached, the smart contract is triggered, and a payment is made to the defined wallet. This allows for automation and serves for a trustless, efficient, accurate, automated way to perform payouts and settlement, while combining the benefits of low cost transactions that are transparent, enabling improved KYC possibilities for all parties involved. 4) Once per cycle, an administrative report is created, and can be confirmed with the smart contract for added transparency and external audits for administrative, KYC and other purposes.