Smart Transfers
Leverage the power of Programmable Payments
Overview
Smart Transfers provide real-time, automated payment processing capabilities that offer innovative methods for designing payment solutions. This feature caters to various agreements and interactions between different parties, making it ideal for managing payrolls, pay-per-use models, micropayments, and advanced contractual agreements.
Pulsar Money is the go-to solution for managing these type of agreements, freelancers services, and contractors work. Your employer can seamlessly implement pay-per-second, pay-per-use, and other customized payment models for you!
Getting Started with Smart Transfers
Step 1: Access Smart Transfers
Navigate to the Smart Transfers page and click on “Create.”
Step 2: Configure Your Smart Transfer
Cliff Release Amount: Specify the percentage of the total amount to be released upon the first payment.
Vesting Transfer Release Frequency: Set the rate at which the amount is released. Options include every second, minute, day, week, month, bi-monthly, quarterly, or yearly.
Stream Options: Choose to create a stream that is either cancellable or immutable. Refer to the FAQ section for examples.
if a stream is cancelled, the following scenarios apply:
Before the start time: The entire deposit amount is returned in full.
During the streaming process: The Smart Contract calculates the amount that has been streamed and returns the unstreamed portion.
Step 3: Select Recipients
Pick as many recipients as needed or import a .csv file with the recipients.
Step 4: Confirm and Send
Check the agree-to-terms box and send your smart transfer!
Features of Smart Transfers
Automated Transfers
Schedule and automate on-chain transfers, including recurring payments, batch transfers, and conditional transfers based on predefined criteria that you can express in a vesting payment.
Enhanced Transperancy
Utilizes smart contract technology to ensure high levels of transparency. Everything is being recorded on-chain and you can validate the exact tx that have been performed.
Customizable Parameters
Customize transfers with various parameters such as time schedules, conditions for execution, and recipient details.
Real-Time Tracking
Track the status of your transfers in real-time with detailed information and updates directly on the Pulsar Money explorer.
Example of Smart Transfers benefits in the case of Payrolls
For Employers
• Simplifies payroll processes, making the distinct transfer action paperless and seamless
• Saves time and money with automated payment scheduling
• Ensures transparency and efficiency in payroll management while everything is recorded on the open blockchain ledger
For Employees
• Provides a clear and transparent payment process where they can track real time the funds allocated to them, the funds claimed and all further parameters having an outlook on the future
• Offers flexibility in receiving payments based on predefined agreements
• Ensures timely and accurate compensation for services rendered as the transfers can be done thorugh micro payments even on a pay second basis
Smart transfers are live on MultiversX and they're coming soon on Starknet.
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