PayFi

Inspiration

In the digital age, influencer marketing has become a powerful tool for brands. However, managing collaborations and ensuring fair payments can be challenging. We were inspired to create a solution that brings transparency and trust to these collaborations.

What it does

PayFi is a smart contract platform that securely manages payments and engagement metrics for influencer collaborations. It automates the escrow process, ensuring funds are only released when agreed-upon metrics are met, powered by Chainlink oracles.

How we built it

We built PayFi using Solidity for smart contracts and integrated Chainlink oracles to fetch real-time engagement data. The project is deployed on the Ethereum Sepolia testnet, and we used Foundry for development and testing. We used NextJS to build the frontend and Supabase for the database

Challenges we ran into

One of the main challenges was accurately retrieving and verifying off-chain data for on-chain use. Integrating Chainlink oracles and ensuring the security of the smart contracts were also significant hurdles.

Accomplishments that we're proud of

We're proud of successfully integrating Chainlink oracles to automate the verification process and creating a robust smart contract that enhances trust and transparency in influencer marketing.

What we learned

Through this project, we gained a deeper understanding of smart contract development, Chainlink oracle integration, and the complexities involved in creating secure and reliable decentralized applications.

What's next for PayFi

The next step for PayFi is to expand its capabilities by adding support for more engagement metrics and integrating with multiple social media platforms. We also aim to deploy on the mainnet and enhance user experience with a friendly UI.

Built With

• chainlink
• nextjs
• solidity
• supabase