DePay launched on Solana
Jun 22, 2023
Solana-based payments are now available for Shopify & WooCommerce merchants, WordPress administrators, DePay Payment Links and existing custom integrators who are using DePay. This integration with Solana unchains a high-speed, low-cost, and environmentally efficient alternative for P2P wallet-to-wallet payments, featuring any-to-any token conversions.
Solana stands tall as the latest blockchain DePay integrates into their protocol and platform. With its blinding speed and nominal transaction fees, Solana is an irresistible addition to DePay’s ecosystem. Solana’s rapidly expanding developer and user base make it an essential choice for furthering DePay’s reach and adoption.
Since the conception of DePay’s Web3 payment protocol, Solana represents the most significant drop in transaction costs: from about 20 USD per transaction on the Ethereum network, to 0.30 USD on BSC, to 0.01 USD on Polygon and now to mere fractions of a penny with Solana.
“At Single, we’re seeing more and more creators realize the value of merging Web3 technologies into their e-commerce efforts. The ability to accept crypto currencies as payments is a crucial step to accelerate adoption. We’re thrilled to see DePay introduce this capability into the Shopify ecosystem and can’t wait to see how our customers use the technology.” - Tommy Stalknecht, CEO & Co-Founder, Single.
Benefits of using DePay
Wallet-to-wallet: Non-custodial payments (P2P).
Instant Cashflow: Received payments are settled and available for businesses in real-time.
On-the-fly conversion: 100% decentralized token conversion as part of the payment transaction via Orca, Solana's leading decentralized exchange.
Unmatched token acceptance: By using DeFi, DePay grows the amount of accepted tokens by a hundredfold.
Multichain: Your customers can send crypto payments on different blockchains in parallel.
Configure incoming tokens: Receive the tokens you want while letting your customers pay with tokens they hold in their wallet.
There is more...
For more insights, checkout our Twitter announcement thread: https://twitter.com/DePay/status/1671749648158019587
Solana is a high-performance, layer-1 blockchain designed for crypto apps scaling today. Leveraging a unique consensus algorithm called Proof of History (PoH), Solana is capable of processing upwards of 50,000 transactions per second (TPS), making it one of the fastest blockchains in existence today. This immense speed, coupled with nominal transaction costs and an environmentally friendly design, distinguishes Solana as a game-changer in the blockchain world.
DePay pioneers Web3 Payments by harnessing the power of DeFi. Promoting the mass adoption of blockchain-based payments, DePay combines the foundational concepts of decentralization and interoperability with cutting-edge Web3 technologies.
Single is an app for Shopify that helps brands and creators better monetize their business through memberships, music & video content, Web3 digital collectibles, and actionable analytics. The company's core belief is if you’re creating digital content, you should be selling it directly to fans or using it to sell other products. Learn more at single.xyz.