Stellar Community Fund

By Upesa (formerly utoken)

Utoken

SCF #28

$28.4K

Legacy v5.0 Activation Award

Awarded

We provide a platform to pay for services using USDC and EURC

Products & Services

The Utoken app, through a simple user interface, will allow users (anyone with a stablecoin like USDC in their wallet) to pay bills like data subscriptions, and services using stablecoin.

The problem The app addresses the issue of Utility for stablecoins beyond remittance and cross-border payment.

Functionalities The app offers two distinct functionalities which are:

Bill payment which covers common utility services like airtime, data subscription, savings etc. and Service payment like gig payment for freelancers and NGOs.

For bill payment we will make the following available using USDC and EURC on Stellar:

Airtime purchase Buy data subscription Pay electricity bill Pay for cable TV Buy Gift Card

For services users will be able to:

Donate and support public service/goods through our simple application interface Freelancers can create a gig link they can share and get paid

How it works This is how a user will use the Utoken web app to settle their bill using USDC in their wallet:

The user visits the website and launches the Utoken web app The user connects any of the supported Stellar non-custodian wallets like Exodus using SimpleSigner The user chooses a location and the service they are interested in paying for e.g Data Subscription The user enters the amount they want to pay, their service ID e.g Subscriber number and the stablecoin of their choice to use The user initiates payment and signs a transaction request which is done through Simplesigner The transaction is approved in the connected wallet after which the user is redirected to the Utoken app. The transaction involves sending the token of choice (USDC) from the user's Wallet to the Utoken multi-sig address on the Stellar Blockchain Bill is initiated from the app and the transaction status is shown to users Bill payment is done and the user gets notified through their service provider. For example, they receive a top-up notification from their local telecommunication company

This is how a user will pay for services:

The user visits the website and launches the Utoken web app The user connects any of the supported Stellar non-custodian wallets like Exodus using SimpleSigner The user selects the gig button or donate button They search for a service provider of their choice and click on it The user enters the amount they want to pay and some relevant info for communication The user initiates payment and signs a transaction request which is done through Simplesigner The transaction is approved in the connected wallet and the user is redirected to the Utoken app. The transaction involves sending the token of choice (USDC) from the user's Wallet to a multisig address for payment splitting or escrow service. In the case of gig, the service provider (the freelancer) gets notified with the gig link which can be used to request release of funds. The user (paying for the service) can also release funds using the gig link.

Target Users The product targets:

Crypto natives Freelancers Traders Investors NGOs offering public goods

How we use Stellar We will use the Stellar blockchain to process payment transactions from a user We will leverage Stellar Anchor to off-ramp and settle web2 service providers We will build an escrow service powered by Stellar Soroban

Requested Budget

$28.4K

Team

Boyejo Oluwafemi (founder and product manager):

Boyejo is a trained mechanical engineer turned product manager with a strong passion for the real-world application of blockchain technology. He was a freelance engineer for over 4 years before co-founding the Wasset Protocol, former CTO of Novus X LLC, and has led several projects, including Inclusive Blockchain for Africa (https://dfmlab-1661264159599.hashnode.dev/all-you-need-to-know-about-inclusive-blockchain-for-africa-ib4a).

LinkedIn: https://www.linkedin.com/in/hardwareguy/

Ray King (Frontend and mobile application developer)

King is a talented front-end and mobile application developer. He is a highly skilled full-stack developer adept in JavaScript, Ruby, Solidity, TypeScript, and Node.js. He has worked on several blockchain projects, including Wasset and Beam. He is also an instructor at the Blockchain Innovation Hub.

LinkedIn: https://www.linkedin.com/in/king-ray/

Owolabi Bassit (Backend developer)

Backend engineer at Wasset with over three years of experience. His experience spans building server-side applications with Node.js, Express.js, MongoDB, Amazon Web Services (AWS), and PostgreSQL.

LinkedIn: https://www.linkedin.com/in/bassitowolabi/