YaraPay

YARAPAY

Yarapay is a simple, easy-to-use, and secure application for managing your digital assets. It allows you to send and receive payments, pay bills and manage your assets in a secure way.
Yarapay seeks to increase the adoption of the Ethereum blockchain in Nigeria.

Features

- LOGIN WITH WALLET - Users who already possess a wallet (EOA) can login into the app by connecting their wallet.

- CREATE ETHEREUM WALLET WITH PHONE NUMBER - Yarapay leverages account abstraction (EIP 4337) to create wallet addresses and match them with users' phone numbers.

- SENDING DIGITAL ASSETS TO PHONE NUMBERS- With Yarapay, you can send money to any phone number anywhere in the world.

- SENDING DIGITAL ASSETS TO WALLET ADDRESSES -  Users can send digital assets to any Ethereum wallet address (EOAs etc)

- RECEIVE PAYMENTS - With Yarapay, users can receive payments by sharing a QR CODE, phone number or generated Wallet addresses

- OFF RAMP FOR DIGITAL ASSETS - Users convert digital assets to FIAT

- PAYMENTS WITH DIGITAL ASSETS - Users can pay for their electricity bills, buy airtime, pay internet bills and so many more with their digital assets

- VIEW HISTORICAL TRANSACTIONS -  Yarapay utilizes THE GRAPH to listen to transfer events and use the data returned to create a view of each user's past transactions

TECH STACK

Goerli Ethereum: Yarapay is built on the Ethereum blockchain, specifically using the Goerli testnet for development and testing.

The Graph: The Graph is used to efficiently query and index data on the Ethereum blockchain, which is crucial for viewing historical transactions.

Solidity: Solidity is smart contract programming language

Next.js: Next.js is framework used for building the UI.

TypeScript: 

Biconomy SDK: Biconomy is a tool used to for account abstraction

Circle Payout API: Circle is used for fiat conversions.

GITHUB LINK

https://github.com/Dayo-Adewuyi/YARA_ETH_ACCRA 

DEMO

https://www.loom.com/share/bbc864612fa543e99017a5235ed48668?sid=03c12988-7c2e-4a92-84ea-3215a90c71e8

LIVE LINK

yara-eth-accra.vercel.app

ROADMAP

- INTRODUCTION OF USSD (Unstructured Supplementary Service Data)

 - PHONE NUMBER VALIDATION

- PUBLIC LAUNCH
- INCREASE USSD COVERAGE TO MORE COUNTRIES IN AFRICA

BUSINESS MODEL

User would be charged 1% of transaction value + gas fees with a cap of 10 cedis/naira for transfers.
A 1% charge for bill payments and other services offered.

The value of the Nigerian USSD and Payment Collection Industry is over $1bn (source: https://nairametrics.com/2021/04/15/mobile-ussd-transactions-surge-by-82-6-as-covid-19-spurs-mobile-adoption/#:~:text=Mobile%20transactions%20in%20Nigeria%20%28mobile%20%26%20USSD%29%20surged,released%20by%20the%20Nigerian%20Inter-Bank%20Settlement%20System%20%28NIBSS%29.)

we aim to get 10 per cent of the market share in every African market and also push the product globally because our product features are useful everywhere in the world as it solves a major UX issue bedeviling the Crypto Industry.