PIP: A Suite of Payment Solutions to Simplify Web3 Payments

  • May 26, 2022
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PIP is a free web browser extension & also a suite of other payment products, designed to bridge the gap between the Web3 and Web2 ecosystems by allowing users to accept payments online.

Built on Solana, PIP connects scalable crypto-protocols with common social platforms like Twitter and Facebook so that billions of people can seamlessly transact value without a single party’s permission or a high intermediary fee.

Let’s take a look at how this platform plans to make a difference.

What is PIP?

Is it possible to connect billions of people with digital assets just like social platforms did?

PIP thinks so – and is making the changes a reality.

As a Web 3.0 bridge connecting the blockchain world to the web 2.0 platforms, PIP can wrap the entire web2 with crypto as well as bring billions of people to the Web 3.0 space.

Although creators can monetize their content via social platforms such as Youtube, these platforms are all siloed and have their own payment systems.

There is also no interoperability between these social platforms. PIP acts as a neutral platform that allows interoperability among social platforms when it comes to crypto activities.

Individuals have no control over their data or identity when the concentration of power is on social media platforms. In simple words, PIP is the only platform that has been disseminating value across the globe just like the internet did with information to date.

Social platforms have played a positive role in connecting billions of people globally by providing free services and using individuals as advertisement products.

If you wanted to tip a content creator or influencer for the amazing content or entertainment that they’ve created, it can be difficult.

PIP allows you to freely tip creators with your preferred cryptocurrency across any social platform such as Facebook, Twitter, Reddit, Twitch, YouTube, Discord, or Twitch through a simple platform.

In addition, PIP is also the only platform that offers such a service in the market, allowing anyone to transact crypto tokens on social networks.

Currently, PIP users are able to transact any digital assets on top of the social platforms, link social identity to crypto-ownership, and monetize their content on the web.

PIP Features

PIP has already launched some major products since it hit the world of Web3. Here are some of the ideas that PIP has made a reality.

PIP Extension

The PIP Extension is a browser extension that allows anyone to send and receive payments on any web page of the internet including common social networks like Twitter, Twitch, Reddit, or Discord.

PIP Tag

Normally, people use wallets, which require a specific wallet address or a DNS (Domain Name Service) like ENS (Ethereum Name Service), or SNS (Solana Name Service), which is associated with the user’s original wallet to send tokens to other people.

However, the Web 3.0 blockchain technology has extended the use cases to another level, so that social media such as Twitter contents (Tweets) also can become the receiver of tokens.

Leveraging Web 3.0 technology, the PIP tag is a human-readable crypto address that is linked with the alphanumeric address. Thus, users can post PIP tags on any web page.

In addition, the PIP extension will highlight the PIP tag to make payments seamlessly.

PIP.ME

This feature is a free Web3 profile to connect audiences and accept payments, providing the easiest way to create a profile link with many Web3 features. PIP.ME transactions are powered by Solana Pay, as well as support payments via Mobile wallet and QR.

PIP Creator Token

PIP users can issue their own social tokens. Therefore, they can distribute their tokens via social media platforms and provide their own utilities attached with tokens.

PIP Button

PIP Button is a payment button that can be inserted into any website via the form of a simple javascript snippet. With this feature, users with their own site can create a button with various functions such as donation, tips, or checkout.

In addition to the available features, other ones are coming soon on the platform, including:

PIP Paywall: Users will be able to impose a paywall on social media content. As such, if a user wants to charge people to read his or her writings on social platforms like Twitter or Medium, the PIP paywall can be integrated into the content to generate a paywall button for people to pay and continue reading.

PIP Card: It is especially for creators who are not familiar with crypto. They can directly purchase goods and services without conversing coins, which they received via their social media account.

Tokenomics

$PIP is the native token of the PIP platform that is used as a reward for PIP users.

Users can earn $PIP through various engagements such as creating new content, sending, and receiving with peers, as well as interacting in the PIP community.

$PIP holders are also members of PipDAO and possess ownership of the PIP ecosystem.

Moreover, liquidity providers gain rewards based on their percentage share of the overall liquidity pool. These rewards are paid in $PIP to every provider that locks liquidity.

How to Get Started With PIP?

You first have to install the PIP Chrome extension, then connect PIP with a Solana wallet by using Phantom, one of the most popular Solana wallets.

Next, you are going to create a Solana tag to allow token transfer between social platforms and Solana wallets. The Solana tag is also able to represent the user’s unique wallet address.

Don’t forget to connect your social media account like Twitter with PIP so that other PIP users will be able to connect to send and receive crypto via social platforms.

If your friend on the social platform is already a PIP user, he or she will receive your payment instantly. Otherwise, your friend must install the PIP extension and connect the Phantom wallet to claim the received crypto within 24 hours.

PIP provides a better payment experience as crypto works neutrally on any webpage on the internet while traditional payments companies are platform-driven and permission-based.

The platform is disrupting Web 2.0 payment companies like Paypal or Stripe to increase economic freedom in the world by empowering individuals.

PIP allows people to monetize their content on social platforms. As said, they can use PIP to impose a paywall on encrypted posts on Twitter or Facebook. This is how a peer-to-peer economy could be.

PIP Making Web3 Payments Happen

If the internet can be combined with crypto protocols, this could create a new economy with significant societal value.

It could help a family in the developing country more opportunities to earn money by simply connecting with people through social media amid the boom of these social platforms today.

Through PIP, anyone can send tips or pay for tasks to people around the world or to anyone that wants to join up.

As a result, in addition to connecting huge people around the world on social media, it also allows high-quality content to generate income that encourages the author’s good motivation for creation.

The post PIP: A Suite of Payment Solutions to Simplify Web3 Payments appeared first on Blockonomi.

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