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

Last updated