Home Crypto Trader Pro What is Sablier?

What is Sablier?

by Pragati Shrivastava
Crypto Trader News, Telegram vs SEC, what happened to Telegram ICO money, Where is the TON blockchain, cryptocurrency, securities,

2019 was a productive year for the dApp industry. In the last two months of 2019, the highest number of dApps entered the space and a record breaking 66K users were active on both EOS and Ethereum; one popular Ethereum dApp of note is Sablier.

[wlm_private “Crypto Trader Pro – Monthly|Crypto Trader Pro – Yearly|Crypto Trader Pro (Lite)”]


Sablier can be used to make payments and allocate funds at a rate that is set in advance. Sablier is a real-time finance protocol on the Ethereum Network and it sets a high bar for the user. The app was launched in June 2019 with several issues like an absence of a mobile version; it was only compatible with MetaMask; bugs crept in while keeping the payer and the recipient’s interface under the same domain. Those issue have been addressed and the new release has a better web interface and redesigned.

The dApp is now hosted at pay.sablier.finance and app.sablier.finance, which clearly makes the distinction between the web interface for streaming money and the one for receiving the streamed money. Its new features include a responsive design, integration of MetaMask, Coinbase and any other wallet. The new release supports DAI, SAI, USDC and Compound’s cDAI and cUSDC.

So how are salaries computed and distributed in Sablier?

Streams are computed as a payment rate/ second, so you don’t have to do any calculations in Sablier. Just enter your desired deposit amount and the streaming duration. Anyone, anywhere in the world can start streaming money using Sablier. Companies can use it to pay their employees continuously. After you make a one-off deposit, the contract allocates funds to employees at a fixed rate. So how is this better than traditionally distributing salaries? You can help your employees navigate a personal emergency like putting down a deposit on a new house, paying rent or just about anything else. The advantage is insurance and optionality.

How does Sabalier measure time intervals?
This dApp uses block time average as a time proxy. On the Ethereum Blockchain, blocks are broadcast once every 15 seconds or so, which makes it 4 blocks per minute. In case the payer wants money back, there is a provision for the same. It’s possible to do so, anytime before the end of the stream. Sablier is based on trustless smart contracts deployed on Ethereum Mainnet. They are audited using MythX.

Popular Use Cases

  • Payroll. Currently Sablier is ideal for paying salaries, most companies prefer using their bank account, however they are expected to slowly migrate to Sablier. Since stablecoins are gaining popularity since the crash of 2018, many have been using fiat on-ramps for stablecoins. As regulations are being drafted for cryptocurrencies and stablecoins alike, projects like Sablier are providing an extra incentive for companies to switch to a crypto-native solution and provide optionality to their employees.
  • Subscriptions Taxes and Consulting. Originally Sablier was designed to support payroll for companies, but decentralised applications can be used for many applications. Popular ones are Freelancing, Subscriptions, Taxes, Consultancy, Rent and Car parking.
  • Streaming money. Users can stream money from their Ethereum wallet through any token of their choice using pay.sablier.finance. Users type an amount, type an ENS domain and select a duration. You are then directed to a payment link and you share this with the employees whom you wish to pay. The receiving party needs a wallet.

We conclude that Sablier’s web interfaces make up a beautiful product for continuous, autonomous and trustless payroll. Sablier’s goal is to eventually help companies save on accounting, invoicing and time-stamping, where money streaming can do better. The team behind Sablier has garnered much support from the network including giants like MakerDAO.







Disclaimer
Content provided by Crypto,Trader,News. is for informational purposes only, and should not be construed as legal, tax, investment, financial, or other advice. All information is of a general nature. As always, there is risk with any investment. In exchange for using our products and services, you agree not to hold Crypto,Trader,News. Pro, its affiliates, or any third party service provider liable for any possible claim for damages arising from decisions you make based on information made available to you through our services.

[/wlm_private]

Want to read the rest of the article? Join our pro-membership and receive all of the following:

✅Access to ALL content.
✅Access to the CTN editorial staff.
✅Access to our CTN trading dashboard.
✅Access to our exclusive telegram channel where all our pro-members and editorial staff are in. 
✅Ability to request content/research material!

Join now!

Related Posts