over budget
StablePay - replace StableCoins
Current Project Status
Unfunded
Amount
Received
Received
$0
Amount
Requested
Requested
$57,700
Percentage
Received
Received
0.00%
Solution
We propose a smart contract that conducts a payment in ADA, but recomputes it at the current exchange rate from an oracle. Putting such a transaction on Cardano, a user can ascertain the price.
Problem
Most contractual payments stay denominated in fiat currencies. We need a payment solution denominating payments in fiat, but without financial risks of StableCoins.
Impact / Alignment
Feasibility
Auditability