Payment Protocol

The core of fund management and payment settlement on the blockchain, ensuring security and transparency.

Account System

User Payment Account

• Each PAYDAO Card has an independent payment account (Contract Account).
• Users deposit stablecoins to this account.
• Deductions are made from this account during payment.
• Private keys are stored in the PAYDAO Card, giving users full control over funds.

Merchant Collection Account

• After initialization, the POS Terminal creates a collection account (Contract Account).
• Each POS Terminal has its own collection account.
• Receives stablecoins paid by users.
• Merchants can withdraw to an external wallet address, which is unique and cannot be changed once bound.

Incentive Mechanism

Every payment on the PAYDAO network automatically mines $PAY tokens — distributed in real-time to users and installers based on transaction activity. The earlier you participate, the higher your reward rate.

Token Distribution Rules

• Automatically triggered based on transactions.
• As the overall transaction volume of PAYDAO increases, the token generation speed will halve periodically.
• User receives: Transaction amount × Incentive token emission rate × User incentive ratio.
• Installer receives: Merchant withdrawal amount × Incentive token emission rate × Installer incentive ratio.
• Tokens arrive in real-time, can be viewed and withdrawn at any time.

Security Mechanism

Contract Security

Contracts are audited by professional third parties, safe and transparent. (In progress)

Authorization Mechanism

Payment terminals require a registered Authorization Card to function.

Payment Security

Although payments can be completed without a password, the payment protocol ensures payment security end-to-end.

Withdrawal Restrictions

Only supports withdrawal to a specific merchant wallet address, which cannot be modified once bound.

Account Recovery

Lost payment cards support reporting loss. Users can recover their account via email.