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What Is LlamaPay? The Multi-Chain Protocol That Is Booming

ButHow do you get there? LlamaIs it possible to enjoy this positive attention while you are at work? WhoTheir services? MostWhat are these services, and more importantly, why should you use them? It’s about time to dig in and see what LlamaPay is all about.

What Is LlamaPay?

OneVery important use case LlamaSalary is pay. InIn this case, the receiver may withdraw the funds at any given time. AsAs a result, manual transactions are no longer possible.

LlamaPay is available!

LlamaPay automates salary txs, streaming them by the second so employees can withdraw whenever they want and you don’t have to deal with sending txs manually.

Go to https://t.co/ubfi4wE5nd to use it now!

Features 👇

— LlamaPay (@llamapay_io) April 30, 2022

TheyLaunched on April 30, 2022. InIn just 46 days, they were able to reach a TVL value of $2.4 million. That’s because, in a short timeframe, they became popular. PlentyMany protocols already use their services. ForDeFi is one example. Llama, AaveOr Yearn. 

What Is LlamaPay? The Multi-Chain Protocol That Is Booming 3

SourceDeFi Llama

Moreover, LlamaAll EVM-compatible chains accept pay. ThereforeAll contracts will have the exact same address across all chains. AlsoOther protocols offer time-limited streams. ThisIt is where LlamaPay is different. TheirStreams have an indefinite duration. YouYou only need to add the money.

AsAnybody can trigger your withdrawals if they are able to get a result. ThisIt’s a good thing! ItYou must ensure that your funds are available. OnOn the other side, tHeir competitors are SablierSuperFluid. HoweverThey also offer stream payment platforms which can punish you for not topping up. YouLoss of funds can lead to the need for a new stream.

In addition, LlamaPay offers a way to pay off your debt. If you forget to top up, you don’t lose any funds. You also don’t have to set up a new stream. YouOnly one debt can be incurred. NextYou have paid off your debt when you deposit money. The stream continues. 

InYou can stop depositing if you want to end the stream. The payee can now withdraw until there’s no more balance. However, if you pay a deposit, you can’t withdraw it. OnlyThis can be done by the payee.

What Is LlamaPay? The Multi-Chain Protocol That Is Booming 5

Source: LlamaPay website

LlamaPay Gas Fees

The LlamaPay gas fees are 3.2-3.7x lower than their competitors. YouYou can access LlamaPay as a default App Gnosis Safe. ThisThis smart contract wallet runs on Ethereum. It’s mostly used to manage pooled DAO funds. 

TheHowever, the most remarkable feature is that it is completely free to use. ThereThere are no fees. FurthermoreThey promise they will remain free for all time. Also, tHe protocol does not contain a token. BewareScammers offer tokens for purchase!

LlamaPay Roadmap

TheirThe roadmap is easy. CurrentlyThey are also working to improve the UX. InThey are also collecting feedback from the community. There’s a V2 in the making. ThisThis will include, among others:

  • TheGet a return on your inactive money.
  • DCA with a salary
  • StoringStreams as NFTs

PrivateUse streams Zero-Knowledge ProofsThey are also in the works.

gm Anteans! TimeYou can also find another explanation here [email protected]_io frens built a cool payment streaming protocol which eliminates the need to e.g. An employer can make recurring manual payments to each payee! LlamaPay basics, in picture form: 👇🧵 pic.twitter.com/gxbgfN7tlj

— Ante Protocol AF ⚙️ (@AnteFinance) June 3, 2022

Conclusion

LlamaPay is a simple, yet powerful multichain protocol. ItIt automates payments, and is gaining attention. It’s a new project with a high potential to grow. It is a free protocol that can be used without token. CanIt is always so easy and simple. OrIs this too much to ask for?


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