Introducing Suberra: Recurring Payments Protocol for Web 3.0
Recurring payments are an integral part of modern commerce. We make regular payments for subscriptions, rents, and investing strategies.
In the last few years, subscriptions commerce have exploded in popularity. We have subscription services for everything from news to music and even shavers. Consumers like subscription models because they don’t have to pay upfront, and businesses prefer it because it gives them more revenue and guarantees recurring revenue. A subscription model introduces stability in price and experience for both merchants and consumers, nurturing more long-term relationships.
Other recurring payments exist too. In the non-crypto world, recurring payments are easy and common. You can set up regularly scheduled transfers on your internet banking app to pay rent, authorize merchants to charge your credit card for your Netflix subscription, and even set up recurring deductions from your bank account into your Robo-advisor app. However, the experience is far from ideal in crypto.
To make a transfer on the blockchain, the user will have to sign a transaction. There isn’t an easy way for dApps to “deduct” from your account every regular interval. Thus, many crypto subscription commerce either allow a huge upfront payment for an annual subscription in crypto or fall back to relying on credit cards for their subscription revenues.
Meet Suberra
Suberra Protocol is a Recurring Payments Protocol that builds software to move money between users. Suberra Protocol consists of smart contracts deployed on Terra, making it possible for users to transfer money to another user periodically without Suberra touching the funds in between.
When we first started, we began with a brief introduction to the problems that Suberra is trying to solve.
Since then, we have made progress and developed the product. Here’s what users can expect soon when we launch:
- 🔄 Subscriptions: Suberra helps businesses set up their subscriptions quickly to start receiving recurring revenues. Smart contracts store the business logic describing how much the product is and how frequently charges should be made. Suberra provides a hosted checkout page for your customers to complete the subscription registration just like how businesses are used to with Stripe and Paypal. Subscribe to services from Delphi Digital, Coinhall, and Kado. More merchants are coming soon.
- 👥 Peer-to-Peer Recurring Payments: Set up a recurring payment instruction to regularly pay any address money. Ideal for use-cases where payments are one-to-one, such as payroll, rent, or retainer fees.
- 💰 Smart Wallet: Your personal, non-custodial smart contract wallet allows you to segregate your funds from your main account. Funds in this account are deposited into Anchor Protocol, earning yields passively while you spend time on things that matter more. Think of this as your Checking Account or Revolut Card account and why you want to keep it separate from your main Savings Account.
- 🤖 Automation: Once you set up your instructions to transfer or subscribe, our bots run behind the scene to execute the tasks in the background. Our contracts allow bots to easily query and perform work and claim their fees for doing so.
Our product is nearing launch, and we are just getting started. We look forward to launching many new product features that allow richer use-cases. Imagine the following:
- 🏛️ DAOs that can pay out members salaries and rewards automatically without the administrative hassle;
- 🚀 Dollar-Cost Averaging: Not sure when to buy? Set up a standing instruction to make market order tokens at regular intervals. Time in the market beats timing the market.
- ↪️ Automatically redirect some of your Anchor Protocol Yields to an address linked to your favorite Crypto Debit Card or support your favorite creator.
We will be looking to launch next month. Please follow us for more updates!
- Twitter: https://twitter.com/SuberraProtocol
- Website: https://suberra.io
- Telegram: https://t.me/suberra_protocol
