Managing payments and invoices with Request on Fantom
We’re constantly finding ways to support our rapidly-growing community of builders and users in the Fantom ecosystem.
One of those ways is to integrate tools that can help address core needs of various project teams, and their users. In particular, we saw the need for project teams to easily manage and keep track of their payments made on the Fantom Network.
That’s why in August 2021, we announced that Request Finance’s fast and simple app to generate, track, and pay invoices was made available to the rapidly expanding community of users transacting on Fantom.
Request Finance allows users to easily keep track of the payments being sent and received over time, and even reconcile the data to accounting software like Xero and Quickbooks.
By connecting directly to the wallets of users’ accounts on Request, project teams also no longer have to copy and paste individual wallet addresses to make payments.
With Request, you can confidently pay to hundreds of different wallet addresses in just a few clicks.
“We’re delighted to report that the use of the Request Finance app has scaled with Fantom, which has been one of the fastest growing protocols in the industry”, said Christophe Fonteneau, Head of Business Development and Partnerships at Request Finance.
Since Request’s launch on Fantom at the end of August last year, the number of unique Fantom wallet addresses has grown 440% to reach 1.9 Million. Total value locked (TVL) on the network has grown by an astonishing 1,248% to reach $9.2 Billion.
Through this period, the Fantom Foundation has relied on Request Finance to manage payments to its expanding team of employees and contractors.
“Request Finance has greatly helped reduce the Fantom Foundation’s operational overhead. It has made working with contractors, grantees, and many others incredibly easy and efficient”, said Michael Kong, CEO of Fantom Foundation.
Similarly, projects flocking to Fantom for its low-fees, and fast transaction finality are increasingly using Request Finance to streamline invoicing, and support their DAOs’ treasury management through integration with multi-sig wallets like Fantom Safe.
To support the growing list of projects deploying DeFi protocols, NFT platforms, and more on Fantom, we offer here a handy, step-by-step guide illustrating how to issue and pay invoices on the Fantom network.
How to create and send an invoice on Fantom with Request
- Log in to your Request account
- Click on the “Create an invoice” button
- Add/Select the client for the “Your client information” field
- Leave the “How do you want to receive funds?” field with the default option: crypto, the payer pays in crypto
- Click on the “More” button (ellipses icon) next to the list of cryptocurrencies
- Next, click on the “All networks” field and select Fantom
- Then choose the payment currency you wish to receive as funds on the Fantom network
- Set your invoice currency which will depend on the payment currency chosen in the previous step*
- Add the rest of the details for your invoice: item description, quantity, unit price, discount, and tax
- Review and check that your invoice number, issue date, and payment due date are correct.
- Click the “Create & Send” button to generate and send the invoice
*What is the invoice currency? This is the currency that your invoice will be issued in and can be different from the payment currency which you’ll receive as funds. For example, you can have the invoice currency as USD (fiat) while receiving funds in FTM as the payment currency. You can also set both the invoice and payment currency as the same currency such as in FTM.
How to pay an invoice on Fantom with Request
- Log in to your Request account
- Click on “Received Invoices” on the sidebar menu under Invoices
- Next, select the invoice you wish to pay
- Click on “Pay now”
- Select a wallet
- Proceed with payment following the instructions from your wallet
- When payment is successful, the status of the invoice should change to “Paid”
About Request Finance
Request Finance is a suite of financial apps helping companies, DAOs, and freelancers easily manage their crypto invoices, payroll, expenses, and other payment requests in a compliant, professional and secured way. Send and receive payments in 60+ cryptocurrencies and stablecoins, 10+ fiat currencies, and 10+ blockchains. Payments can be settled in cryptocurrency while denominated in fiat like USD or EUR. Track, verify, and organize all your payment requests in one dashboard. To learn more about Request, visit Request.Finance
Fantom is a fast, scalable, and secure layer-1 EVM-compatible platform built on a permissionless aBFT consensus protocol. On Fantom, transactions are confirmed in 1 second and cost a fraction of a cent. Speed, low transaction costs, and high throughput make Fantom ideal for DeFi applications and real-world use-cases.