LlamaPay Arrives on Fantom
Web3 has revolutionized commerce by facilitating micropayments, allowing employees to receive pay for their labor in real time—not twice a month.
With DeFiLlama’s LlamaPay, employers can now automate their payroll processes and incorporate real-time payment streams. Already trusted by multi-chain teams Yearn and Beefy, LlamaPay has now been adopted by native Fantom ecosystem protocols such as SpookySwap, Morpheus Swap, and Solar Protocol.
“LlamaPay streamlines contributor pay in effortless fashion,
forcing devs to actually do something rather than spend their time tracking payroll.”
– Morpheus Swap
Now, you can receive your payment in the same way you work: in real time. LlamaPay allows employers and protocols to automate transactions, streaming them by the second. Recipients can then withdraw these funds in real time, starting the moment the payment stream is created.
“As an employee on the receiving end, it’s been great.
The funds are available whenever I want to withdraw them and I don’t have to worry about if or when I’ll get paid.
For the team itself, it’s been a huge weight lifted and it’s reduced a lot of unnecessary friction.”
– Owen Palmer, Business Development at SpookySwap
How Solar Protocol Reclaimed Their Technical Resources
Prior to switching to LlamaPay, Solar Protocol used their own salary distribution contract they had built in-house.
The Struggle
Their previous salary distribution contract required arduous maintenance, particularly when adding new tokens or employees—it often meant one or more of their smart contract developers had to stop working on the core project for at least a week.
Using their own contract also introduced security vulnerabilities. It was real money on the line, so they had to spend time and resources researching possible exploits and edge cases in which money could get stuck.
Those weren’t the only aspects that sidetracked their developers away from working on the core technology.
In addition, because the contract didn’t have a front end, it introduced confusion for the rest of the team as to how much they were getting paid and when. This also applied to the person dispersing the funds, who wasn’t versed in smart contracts or how to interact with them.
To mitigate this, the Solar developers had to build an interface to visualize certain aspects of the contract: the amount of tokens to distribute, how much each wallet was set to receive, and more.
LlamaPay to the Rescue
With LlamaPay, all of these issues went away.
Even with the custom front end they had previously built, the Solar Protocol developers were still reliant on the contract owner manually sending the funds each week, and it took them an entire week of developer resources just to get the contract up and running.
With LlamaPay, it took them five minutes to set up all the streams and send the money to the contract.
Even when they came across an issue with the integration, they weren’t alone—the Solar developers contacted the LlamaPay team and resolved the issue within twelve hours.
Now, payments are automated, the rest of the team has full insight and visibility into when and how they’ll get paid, and Solar Protocol’s core development team can focus on what they do best: building their own product.
About DefiLlama
DefiLlama is the largest TVL aggregator for DeFi (Decentralized Finance). Their data is fully open-source and maintained by a team of passionate individuals and contributors from hundreds of protocols.
Their focus is on accurate data and transparent methodology.
They track over 800 DeFi protocols from over 80 different blockchains.
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