Telepay.cc

Screenshots

Problem Statement

Telepay: A Telegram micro-payment app that simplifies blockchain complexity.Why did we built it?We aim to compete with centralized exchanges that currently dominate the crypto micro-payment market.How?Simplify blockchain complexity (streamline self-custody, abstract fees, and unify networks).Automatically provide access to USD DeFi yield on top of micro-payments.Leverage Telegram's massive user base to challenge centralized exchanges.

Solution

Telepay: A Telegram micro-payment app that addresses the 3 main challenges of blockchain complexity.Self-custody Abstraction: We simplify self-custody using Nillion (https://docs.nillion.com/storage-apis) to store the user's private key in a trustless manner. This makes it accessible only with your Telegram initialization data signature.Gas fees Abstraction: We streamline gas fees using a relayer contract that verifies the user's signature and sends transactions on their behalf.Networks Abstraction: Various L2s and blockchains have fragmented the ecosystem, giving centralized exchanges an advantage. We've deployed a router contract system across popular networks and integrated the Circle bridging protocol CTTP. This allows us to simplify the concept of networks for deposits and withdrawals within the app.Yield generation: We use CTTP to provide our users access to USD DeFi yield on their balance, currently achieving 14.43% through Euler lending.Telegram Distribution: We leverage Telegram's powerful social features and wide distribution to gain organic traction, aiming to challenge centralized exchanges in the payments space.Easy Deposits with ENS: To enhance the user experience for deposits, we've implemented a feature that assigns each Telegram user an ENS subname. This integration uses ICAN domains and CCIP read functionality (for example:fricoben.telepay.cc).