It is now practical to stream salary in crypto across the globe, thanks to the Ethereum-based payment protocol Sablier. The latest development, the DApp platform has added support to interest-bearing tokens to allow users to earn passive income.
Passive Income Through Interest-bearing Tokens
According to an announcement made today (January 16, 2020), Sablier stated that the platform has integrated synthetic USD (sUSD), CHAI, wrapped ETH and wrapped BTC as streamable digital currencies. The development will enable users to earn income in interest-bearing assets.
For instance, holders of sUSD can easily transfer their tokens to other users with synthetic assets such as sXAU (gold). Consequently, users can get paid in a currency that they can easily invest in other assets. The addition of CHAI token is especially exceptional. With CHAI, users can receive their income in an asset that generates interest. It works in a similar way as earning income in the U.S. government treasury bills.
For those who might be unaware, CHAI is wrapped DAI such that users can choose to hold their DAI tokens in CHAI and let it generate interest without locking up a portion of their funds. The CHAI token balance remains constant, reflecting the amount of DAI deposited. On the other hand, the CHAI price increases based on the value accumulated from interest. CHAI holders can convert back their tokens to DAI through their native interface or utilize Uniswap to change it into ETH.
Timely Payments Will Boost Financial Security
While payment applications are many, nearly none of them serves a variety of use cases. Most of such applications mainly offer one-time payments in a cost-effective and fast manner.
Sablier is offering a solution to a problem that exists in the entire payments industry. However, its utility goes far beyond than crypto payments. The Ethereum-based payment protocol is a brainchild of Paul Razvan Berg.
Streaming Salary in Crypto
For firms that are looking for employees, Sablier’s innovation guarantees the security of funds by simply streaming their worker’s salary in crypto within a given period. For example, instead of giving an employee a lump sum payment at the end of the month, the company can stream a given amount per hour or per minute.
This service will also help freelancers and contractors who work on a per-project basis, staying confident that their payment will come on time. In addition to guaranteeing timely payments, streaming payments is equally applicable in rent payment, loan repayment, and many other use cases.