PeerPal

Travelers in LATAM struggle to pay with crypto. Performing an off-ramp transaction is not feasible due to the absence of a local bank account. This is challenging.

Now PeerPal comes into play. PeerPal is a Peer-to-peer network for direct fiat payments.

With PeerPal, you can make payments using QR codes at any business or establishment. A cryptoexchanger takes care of converting your crypto to the local currency and facilitates the payment on your behalf, making the process easy and fast. The efficiency of the transaction is further incentivized by the cryptoexchanger, which imposes a penalty for any payment delays they can have, ensuring that it is completed as quickly as possible.

How do we do it? As a traveler, picture this: you arrive at your destination, stroll into a local shop, choose whatever you want to buy and snap the QR code, pick any of the crypto exchangers available, and they will handle the payment on your behalf (They’ll have a penalty if they don’t hurry), after, you’ll just have to accept the payment’s been made, and voila, you give the nod to the completed transaction, Enjoy your stay hassle-free.

As a user, you’ll not be required to do KYC, to become an exchanger you must be kyc’d first.

This project has different features:

1. In our two-party contract, we have the buyer and the seller. The buyer is someone looking to exchange their crypto for payment, while the seller conducts the fiat transaction to receive crypto. The Escrow structure provides security for both parties, featuring a secure deposit account. The seller can set fees to earn a profit. The smart contract, deployed on Scroll and Linea, includes the creation of an escrow where the buyer's crypto is locked, transferred to the seller upon acceptance of the order. The seller can confirm the order with a proof of transaction (an image on Filecoin). The buyer releases the escrow, with funds automatically sent to the seller once the status is marked as completed. If the sale is not accepted, funds can be withdrawn.

2. API3 - Leveraging data fee queries for quality data, ensuring market regulation without sliding into the black market.

3. WalletConnect enhances the user experience by allowing users to choose existing wallets or create one on the spot. The seamless integration of Web3Modal is simpler compared to other, less user-friendly options.

4. Lighthouse Filecoin - Striving for maximum decentralization, we can't rely on a regular database. Lighthouse simplifies the process for our disputes, ensuring a decentralized approach.

5. NounsDao provides us with friendly color schemes and assets for delivering polished products on time.