Payments
Last updated
Last updated
Paystream allows you to configure predefined settings for payments, including start time, amounts, schedule, and more. Begin by going to paystream.io/payments. Ensure your wallet is connected, then click Create New
The form consists of selecting a payment type. Paystream supports four payment types for various use cases. Read Payment Types determine the appropriate option.
The payment token is the asset used to pay employees. In V1, only USDC is supported, but more tokens will be available soon.
If selecting Contract Payment or One-Time Payment, you can set a cliff amount, which is a portion of funds released at a specific time.
Example: If a freelancer contract is $1000 and is divided into $600 at the start, $200 in the middle, and $200 at the end, the cliff amount is $600. This setting is optional, and equal distribution can also be chosen. you can also set cliff amount as percentage.
The payment duration sets the contract period. You must specify the value and unit (e.g., 1 year, 12 months, or 4 quarters).
The unlock schedule determines how frequently payments are released. For example, an employee on a weekly wage will have payments released every week for the contract duration. So for this 'weekly' can be set as the duration.
Specify the date and time when the contract should begin
Token Amount
The total amount deposited into the contract. For now, fixed-period contracts require the total amount to be deposited upfront but this can be topped up (depending on the payment type)
Recipient Wallet:
The wallet address where payments will be sent. A wallet icon allows selecting employees to prefill the form. Visit Employees to learn how to add employees.
Recipient Email (Optional)
Used for recieving payment alerts
Before proceeding, review all contract details carefully
Important: Once a contract is created, some settings cannot be changed. Additionally, some contracts are non-cancelable depending on the payment type, so read the details carefully before finalizing.
