Calamus Finance

Calamus Finance
Features - 1
Features - 2
Demo Link

Inspiration

Currently, many platforms support payments with fiat money, which could be used for investing, payroll, purchases, etc. Nevertheless, these platforms encounter several shortcomings, including:

Most platforms do not allow periodic automation of payments. Instead, users must manually transfer the money when the work is done.
Workers always stand a risk of wage theft.
Labour hirers might risk low-quality work, for example, if payment is made in advance.
Workers have to wait for a specific date to receive/use the money, usually every month or after the contract ends.
Most platforms do not support payment with tokens.

Thus, to solve these issues, we have made use of blockchain and (the application of) tokens to create the very first crypto streaming protocol on Injective.

At Calamus Finance, we aim to facilitate the process of constant payments and token vesting transparently and securely.

What it does

Calamus Finance is a protocol for streaming cryptocurrency that operates in a decentralized manner, enabling individuals to make payments and receive them at any given time, while also facilitating automatic token vesting.

Main functions:

Payroll: Pay your employees by the second quickly. Company will have complete control over frequency, liquidity amount and duration. Cancellation is possible at any time by the payer and/or payee.
Token Vesting: Reward your team, advisors and investors with tokens automatically without any fear of foul-play
Interchain crypto streaming (coming soon): enables users to send tokens or receive payroll bidirectionally between Injective and other Cosmos chains.

Users can:

Connect their Keplr wallet with the app
Configure a payment frequency: per second, minute, hour, day, week, month or year. Most traditional companies would pay their employees by week or month.
Set start and end time of payments
Configure advanced settings like cancellation or stream transferring.
Set total payment amount
Cancel stream at any time if mutual consensus is not met.
Transfer the stream to a new recipient’s address.
Set an initial release amount at cliff date (for startup vesting).

Data from these features are validated at DApp and Smart Contract, hence minimizing human risk and improving security.

How we built it

Technologies

CosmWasm: To develop smart contracts
InjectiveLabs SDK
InjectiveLabs Wallet API
Injectived Dev tool
NextJS 12
Charka UI components
React 17 & React-Redux

Smart contract

Our main smart contract is here

Workflows

Create stream process

Withdraw token process

Top-up stream process

Cancel stream process

Transfer stream process

Challenges we ran into

we encountered multiple technical problems which take quite some time to solve:

Issue 1: The absence of documentation and the lack of source code examples to build a complete dApp on Injective have been challenging. Additionally, the sdk-ts is outdated, resulting in errors when signing transactions, such as the "funds" variable in MsgExecuteContract, which is not necessary but still generates an error. We addressed this issue by adding one Injective wei for each standard transaction.
Issue 2: The size of the Injective ecosystem, developer tools, and JS libraries is quite extensive, making it difficult to learn everything in the duration of a hackathon. Additionally, CosmWasm is more complicated than other smart contract development languages, requiring us to invest both official and spare time on weekends to write code.
Issue 3: Interchain Stream
- Our initial idea was to enable anyone using Cosmos chains to create a stream and withdraw tokens based on our smart contract on Injective. However, this idea has faced technical challenges. In CosmWasm, the IBCMsg was separated into three enums (Transfer, SendPacket, CloseChannel), and the "ibc_packet_receive" function only receives data of SendPacket. There is no way to perform both Transfer and SendPacket at once, and as a result, we have not been able to find a solution to this issue.
- We attempted to create a stream-based smart contract on Injective to transfer tokens to other Cosmos chains. While this idea is feasible, each chain has a different frontend SDK or library, and we did not have enough time to implement all of them. It would be better if every frontend SDK implemented a standard for Cosmos Chain frontend SDKs.

Accomplishments that we're proud of

Build a Money Streaming protocol on a new platform.
Overcome technical challenges to accomplish goals.
Develop technical functions so that users on Injective Network can pay, receive and vest tokens easily.
Gain a lot of in-depth knowledge about Injective & CosmWasm.