We discovered that the three main reasons a lot of business owners and individuals are yet to accept cryptocurrency as a valid means of payment are because:

  1. Most of them are not knowledgeable about cryptocurrency
  2. They are afraid of the volatility
  3. They don't know which token to accept

Here's how renipay solves these three problems:

  1. Individuals do not need to have knowledge about cryptocurrency and blockchain before they can use renipay, yes users do not need to have a crypto wallet
  2. All tokens are converted to a stablecoin immediately, as such, the risk of losing their hard earn money to the market volatility is eliminated, Users get the exact amount paid by their client/customer
  3. Renipay allows Client/Customers to make payment with any token of their choice, as long as it has enough liquidity and can be swapped immediately to a stablecoin

What it does

It allows businesses and individuals to register and have their own special payment link to accept payment in cryptocurrency from anywhere in the world

How we built it

Renipay was built using Reactjs for the frontend, Nodejs on the backend while the smart contract is written in Solidity

Challenges we ran into

  • Creating liquidity on the swap contract
  • Accepting native token as a means of payment

Accomplishments that we're proud of

  • We were able to implement a swap function to automatically swap tokens to a stablecoin
  • We were able to create the complete MVP in a short amount of time

What we learned

  • We learnt about how the swapping contracts works
  • We also gained more understanding on the ERC20 token standard

What's next for Renipay

  • Add more functionalities
  • Allow users integrate how API directly into their website and online store
  • Testing and auditing
  • Launch on mainnnet
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