Laqira Protocol price

LQR

#1068

LaqiraPay unique features are as follows:

Fully Decentralized: All of the payment procedures are operated by a decentralized logic embedded in the blockchain in the form of a smart contract preventing any kind of manipulation in the processes.

Immediate Settlement: Each transaction processed through LaqiraPay is settled instantly, ensuring a seamless and efficient experience. This is achieved without relying on custodial services or third-party interference, providing vendors with full control and transparency over their customers payments.

Direct Payment Receive: When a customer makes a payment through LaqiraPay, the fund is delivered directly into the vendor's wallet.

Vendor Transparent Financial Statement: One of the most pivotal features of LaqiraPay, particularly from the perspective of vendors, is the implementation of dedicated financial statements within each network in the form of smart contracts. These smart contracts meticulously document every transaction conducted through LaqiraPay payment system on the vendor's payment portal. These smart contracts function as transparent and enduring records, comprehensively capturing all transactions made by the customers for future reference.

Asset-Agnostic: LaqiraPay’s asset-agnostic approach empowers customers to make payments using any cryptocurrency in an intended network, eliminating the constraint faced by other crypto payment gateways tied to specific origin/destination assets. On the other hand, the vendor receives the payment in the form of stablecoin, omitting any concerns associated with loss in value, transfer fee, exchange fee, exchange rate, etc. for an unlimited list of assets. This ensures that the vendor can implicitly accept a variety of cryptocurrencies and destroys the obstacle of the vendor 's lack of interest in miscellaneous assets in comparison to principal ones. This flexibility is made possible by LaqiraPay's adherence to a DeFi algorithm based on trusted price feeds such as ChainLink, allowing any deployed assets on a given network to be accepted for payments to any vendor.

Readily Inclusive: This particular aspect serves as an additional feature stemming from the asset-agnostic nature, an area where all other gateways, teams, and communities encounter challenges. As detailed in the previous section, LaqiraPay operates as an asset-agnostic payment system. In fact, vendors receive stablecoin after a payment by a customer, indifferent to the cryptocurrency used for the transaction. Essentially, this implies an implicit acceptance of all cryptocurrencies by vendors, as the origin asset holds no significance for them. This presents a valuable opportunity for dedicated and hardworking teams aiming to practically list their tokens on a payment portal without spending any time and effort to persuade vendors for accepting their asset. In result community of the teams can benefit from an ecosystem where they gain access to a vast array of stores offering diverse products and services in which they can spend their tokens.

Hassle Free Customer Payment: Unlike stressful and tedious procedure of traditional payment gateways that requires a customer to send a specific amount of a certain crypto asset to a specific address, through the right network, payment via LaqiraPay is just a matter of connecting wallet, choosing intended network and asset and pushing “Pay” button which is extremely practical for fast payment solution in crowded places such as hyper markets.

Automatic Valid Network Detection: LaqiraPay functions as a multi-network payment system, although the cart payment must ultimately be executed within a single network. When a customer opts to pay through LaqiraPay, they are required to select a network from the supported options and are then redirected to the portal. Within the portal, if the user is linked to an incorrect network, they are prompted to switch to the correct one. Attempting to make a payment through the wrong network results in a reversal of the request, eliminating the risk of fund loss. This feature addresses a common challenge encountered by users of other payment gateways, where assets are frequently lost due to transactions initiated in a wrong network.

Automatic Valid Asset Detection: When customers choose to make a payment through LaqiraPay, they need to select a cryptocurrency from the supported options and are subsequently directed to the portal. On the payment page, the customer only has to press the "Pay" button, and LaqiraPay will automatically deduct the chosen asset from customers’ wallet. This streamlined process serves to prevent the complications that arise from mistakenly sending the wrong asset to the destination wallet—a frequent issue faced by other crypto payment gateways, leading to various problems for both gateway’s support team and customers from time to time. This feature also prevents fraudulent customers from sending counterfeit assets to vendors.

Automatic Valid Vendor’s Address Detection: Unlike traditional payment gateways, LaqiraPay eliminates the need for customers to manually send assets to a specific address, a process that can often be stressful, error-prone, and time-consuming. Instead, customers simply connect their wallet to the vendor’s portal and press the "Pay" button. LaqiraPay then seamlessly and automatically directs the assets to the vendor's valid address, ensuring a smooth, secure, and hassle-free transaction experience.

Automatic Exact Amount Detection: Unlike traditional payment gateways, LaqiraPay eliminates the need for customers to manually insert required amount, a process that can often be stressful, error-prone, and time-consuming. On the LaqiraPay payment portal, customers simply press the "Pay" button without the need to specify the exact transaction amount. LaqiraPay autonomously deducts an appropriate amount of the chosen asset, equivalent to the cart's price, from the customer's wallet. In the event of any surplus funds after completing the payment, the excess amount is automatically refunded to the customer's wallet.

Transparent Exchange Rate: Unlike traditional payment gateways using opaque exchange rates to calculate the required amount for transactions, LaqiraPay leverages transparent, real-time on-chain price feeds from trusted providers such as Chainlink, Pyth, and others. This ensures customers are charged a fair and accurate amount for their purchases. In addition, LaqiraPay incorporates a robust stablecoin depeg protection mechanism, powered by Chainlink or other price feed providers based on the network. This feature safeguards vendors by mitigating risks associated with stablecoin price volatility, ensuring a secure and reliable payment environment for all parties involved.

Slippage: To prevent any potential sandwich attacks associated with the seamless DeFi algorithm, a slippage logic has been implemented to avoid any loss of customers' funds. Slippage also works as a price volatility protection mechanism that prevents execution of transactions when the price deviates beyond a limit set by the customer, ensuring stability and trust in the transaction process.

In-App Wallet: LaqiraPay incorporates a built-in wallet, offering customers the convenience of depositing funds for payments and withdrawing any remaining balance as needed. Additionally, vendors have the flexibility to configure their accounts to receive customer payments into their in-app wallet instead of their personal wallet, with the option to withdraw funds at their discretion. For vendors, opting to receive funds in their in-app wallet results in reduced commissions paid to LaqiraPay compared to transactions in which funds are received directly into their personal wallet.

Cashback: After completing a payment via LaqiraPay, customers will be rewarded with cashback which is directly credited to their In-app wallet. It means that a percentage of the amount spent on purchases by the customer is returned to customer’s in-app wallet. Notably, customers receive enhanced cashback benefits when utilizing the in-app wallet for payments as opposed to a personal wallet. Cashback is a financial incentive or reward program and it serves as a way to encourage customer loyalty and repeat use of the payment method.

Lottery: In every LaqiraPay transaction, a small portion of the commission is converted into LQR tokens and allocated to a periodic customer lottery event. The lottery is another incentive program designed to encourage customers to use LaqiraPay. Customers who choose to pay via LaqiraPay, are granted some lottery tickets according to their transaction amount. Collecting Lottery tickets over time during a period increases their chance to win the significant prize of periodic lottery event.

LaqiraPay provide three various payment methods for vendors as follows:

E-Commerce Plugin: This method is ideal for e-commerce and online businesses that operate on websites. Plugins for various technologies, including WordPress, ReactJS, NodeJS, AngularJS, VueJS, Laravel, Ruby on Rails, Django, and more, are being developed to ensure maximum compatibility with existing websites. Additionally, the development of these plugins will be an open-source project, inviting developers worldwide to participate and contribute.

Mono-Link: Mono-Link is an ideal method for e-commerce and online businesses operating on platforms like social media, where vendors sell their products and services or streamers perform to get donations in their profiles or channels. When a customer requests payment, the vendor can share their dedicated Mono-Link with the customer. Then the customer can click the link, insert the product price in dollars and order description, and fulfill the payment procedure, easily.

Point-of-Sale (POS): This solution is a perfect one for local and in-store vendors and merchants. Vendors need to install the Laqira POS app on their smart phones, and when customers want to pay for goods with cryptocurrency, they can insert the price in dollars or native currency (if configured) into the POS app. Then the customer can easily complete the payment by scanning the QR code displayed on the POS screen.

As mentioned previously, LaqiraPay has introduced a new and innovative lottery service as an incentive program that is fully powered by blockchain technology, ensuring fairness, transparency, and security. As a proud partner of Chainlink, LaqiraPay has incorporate their Verifiable Random Function (VRF) to design a specific for of a lottery program, completely decentralized and random.

Every time a customer makes a purchase through Laqirapay payment system, whether they’re buying a product or a service, they will automatically receive lottery tickets based on the amount they spend. Customers are granted one ticket for each $1 they pay via LaqiraPay and purchases below 1$ are not accounted. The more a customer buy using LaqiraPay, the more tickets they get, and the higher their chances of being the winner of the round.

Once the round ends, Chainlink’s secure and reliable random number generation service selects a winning ticket among all of the ticket numbers. The process is completely automated, and no human involvement is required—ensuring fairness for everyone. After the round is closed, customers can visit LaqiraHub to check if they hold the winning ticket. Winning ticket holder can withdraw the prize pool directly and instantly, all thanks to blockchain technology.