Jarvis Network x Superfluid: streaming payments for jEUR and other Jarvis Network’s stablecoins are now live on Polygon

We are excited to unveil that Jarvis Network’s synthetic Euro (jEUR), Swiss Franc (jCHF), and British Pound (jGBP) stablecoins are now supported on the Superfluid protocol on Polygon! Jarvis Network’s jFIATs are designed to keep their peg and to be highly liquid, which makes them suitable for on-chain trading, yield, payment, and remittance. Superfluid unlocks multiple new use cases for jFIAT, from real-time payment to real-time investing.

Streaming payments

Streaming payments are different from making recurring payments.

• In a recurring payment, the payer sends money to a recipient at regular time intervals. Salaries, rent, or subscriptions are usually paid once every month for example.
• In a streaming payment, the payer sends a constant flow of money to the recipient. Instead of receiving a salary once per month, an employee would receive their salary by the second.

Streaming payments are real-time payments! Recipients of a streamed payment would receive a token whose balance grows at each block, translating into a pleasant visual effect: in the case of the jEUR, the recipient of the stream would see their jEURx balance growing in realtime!

jEURx is a wrapped token that can be redeemed at a 1:1 ratio for jEUR on the Superfluid Dashboard. It can also be sent to other addresses or used as collateral in other protocols.

Superfluid Enables Real-time Finance

The Superfluid protocol was created to help developers push the boundaries of programmable money and enable an era of “real-time finance.” To leverage Superfluid streams, developers build “Super Apps”: smart contract applications with custom logic/behavior that allow a whole new set of features by leveraging real-time assets transfer. For example, Ricochet exchange allows users to set up a real-time DCA strategy (Dollar Cost Average), allowing them to buy a token continuously, every second in a stream. This means you can swap jEUR to ETH in real-time, as you receive your salary.

Superfluid + Jarvis Network + Mt Pelerin + Polygon: the perfect use case for salaries!

Starting from today, DAOs can use Superfluid’s new primitive to pay their contributors in real-time with jEUR, jGBP, and jCHF. Companies and their employees can also leverage streaming payments

Jarvis Network’s jEUR, jGBP, and jCHF can be off-ramped for their fiat equivalence using Mt Pelerin’s Bridge wallet at a 1:1 ratio, and directly from Polygon. Mt Pelerin will be supporting the off-ramping of jEURx, jGBPx, and jCHFx without needing to unwrap them, allowing the real-time payment of salaries with the possibility to withdraw them into one’s bank account without any fees.

Since last June, all Jarvis employees are paid using jEUR and Mt Pelerin. Starting from next month, some of them will be paid every second by streaming jEUR with Superfluid on Polygon.

About Jarvis Network

Jarvis Network is a set of protocols and applications on EVM-compatible chains to bridge legacy and decentralized finance (DeFi). Its mission is to build an infrastructure layer that can be leveraged by anyone to develop use cases facilitating the adoption of DeFi, and to build applications to onboard the next billions of users. Its first protocol, Synthereum, pioneers an innovative and capital-efficient manner to issue and exchange synthetic fiat currencies called jFIATs, thanks to a fully on-chain Forex market. jFIATs are stablecoins designed to be usable: they keep their peg, are highly liquid, and are scalable.

About Superfluid

Superfluid is an asset streaming protocol that has the power to describe cash flows and execute them automatically on-chain over time in a non-interactive way. Superfluid streams are programmable, composable and modular. The first cash flow types allow constant streams of value and one-to-many distributions. All streams are settled at the same time, based on block timestamps. No capital is locked up, and all inflows and outflows are netted in real-time, drastically increasing capital efficiency.

SOURCE:
Medium