Payments are the most fundamental thing in everyday life, almost every transaction with value is a payment. Over the years there has been an evolution in these payment systems to remove the friction when doing payments. With companies such as Visa and Mastercard taking charge best payment processors in the world they all face one problem they are non-censorship resistant yet they are a major backbone of payments but...
Enter Bitcoin - When Satoshi set out to build the Bitcoin protocol he envisioned a future where payments occur on the Bitcoin network ... But we all know that never happened instead it became the digital Gold.
State of Crypto Payments today Most of the crypto payments are fragmented each serving a particular chain or only accepting a particular chain. i.e SolanaPay for Solana, NearPay for Near, and a plethora of applications enabling payments across other chains. None of these payment applications have achieved what has been done in traditional payments processors such as Visa and Mastercard. All traditional payments processors use several moving parts such as TCP/IP and UDP as networking protocols, they also use currency exchanges to facilitate different forms of settlements. Until the past few years, Crypto had no interoperability protocols that offer this messaging across different chains.
Omnipe is a cross-chain payments aggregator protocol that facilitates payments across different chains easily without having to deploy various chains in a non-custodial manner. Merchants and receiving end users can receive payments with any type of Token as long as it has enough liquidity in the receiving chain. The Merchant can also choose what type of Token they'd like to settle in the destination chain. With these, you get the features offered by payment processors such as Visa where you can spend your Dollars in Europe without having to go through Exchanges to get Euros.
Omnipe uses LayerZero as its messaging protocol to coordinate messages across different chains when a payment is done. It also uses Stargate as its liquidity protocol and Uniswap as its exchange to perform swaps. Omnipe uses Chainlink Keepers for automation and gas savings by performing bridging of funds every 30 minutes.
| Layer | stake Holders |
|---|---|
| Application Layer | payment providers(Stripe, etc) |
| Liquidity Layer | Connext, Stargate, Multichain |
| Messaging Layer | LayerZero, Nomad, Axelar |
| Transport Layer | Stargate Routers |
| Automation | Chainlink Keepers |
| Exchange | Uniswap, Match, etc. |
A merchant has to create an account on the Destination chain Settler. sol and enter the settlement token they'd like to settle in. They can then use their address as userId to receive payments on the source chains.
Integration with Commerce.js via Manual Payments. here
OmniPe Interface that allows merchants to create accounts on the Destination chain and receive payments on various Source chains.
KelBoards A Keyboard marketplace that uses OmniPe as its payment processor.
The major hurdle in building cross-chain applications is that there are no frameworks or libraries that can be used to facilitate testing and development. You also sometimes need to cater in for latency in different chains. The other challenge is the lack of interoperability between different testnet chains.
For the next few months, we will be working on a cross-chain payments protocol that will facilitate payments accross different chains Which includes adding support for non-smart contracts chains such as Bitcoin, Zcash, Dogecoin, etc via Thorchain and Catalog Finance we will be adding support for Solana and other non-EVM chains which will be the first to support truly non-custodial cross-chain payments.
A new wallet interaction will be our top priority for the next few months.
We will be adding support for new DeFi primitives such as Buy now Pay Never (BNPN) using yield farming.
We aim to form strategic partnerships with payment providers such as stripe to be their technology providers.
Settler.sol :
Mumbai
0x4547f69beC77e5f00628357A010f67032D759bEd
Rinkeby
0x8321afEa88377D34D84C45362f701094B88be11a
Receiver.sol :
Avalanche
0xDAc24DcF66F570279d6a0B96cBdD593f918ef772
Add Private key to .env file
cd contracts
./deploy.shReplace addresses in ./contracts/verify.sh
cd contracts
./verify.shThe Bankist folder holds and example of end-user applications that can be built on OmniPe
bank-checkout - A react Component that can be used to create a checkout for a merchant.
KeldBoards - An Ecommerce market place that Uses OmniPe as its payment processor.
Front-end
OmniPe - A cross-chain payments aggragetor protocol interface that facilitates payments accross different chains.
.
├── Backend
│ ├── services
│ └── tsconfig.json
├── Bankist
│ ├── bank-chekout
│ └── kelboards
├── Front-end
│ ├── omnipe-app
│ └── omnipe-landing-page
├── README.md
├── contracts
│ ├── FujiDeployArgs.js
│ ├── MumbaiDeployArgs.js
│ ├── README.md
│ ├── RinkebyDeployArgs.js
│ ├── artifacts
│ ├── cache
│ ├── constants
│ ├── contracts
│ ├── deploy-args.js
│ ├── deploy.sh
│ ├── hardhat.config.js
│ ├── node_modules
│ ├── package-lock.json
│ ├── package.json
│ ├── scripts
│ ├── test
│ ├── verify.sh
│ └── yarn.lock
└── images
├── omniPe.png
└── txanat.png