Sablier Finance Deploys Payroll Streaming to Polygon and BSC
Sablier is bringing "payroll streaming" to Polygon and Binance.
By: Owen Fernau •Byte
Streaming music and videos has become a daily part of life. A “real-time finance” DeFi protocol now wants to do the same thing with money.
Sablier Finance, a protocol that streams money by the second, is deploying to Polygon and Binance Smart Chain (BSC). The deployments onto blockchains with less expensive transaction fees than Ethereum, home of Sablier’s original deployment, may expand the protocol’s customer base.
Until now, Sablier has primarily been used as a way to control vesting for teams, according to the project. With Polygon lowering fees by 676,750% and BSC by 12,000%, streaming salaries may become viable. Using Sablier, customers could receive a salary or payments denominated in DAI incrementally over the course of a month.
The idea is that streamed salaries could be an alternative to he payday lenders, which charge customers high interest rates for advances on their wages.
“mStable was a very early adopter of Sablier and has trusted the protocol to stream investor, team tokens allocation and even DAO salaries,” James Simpson, founder of mStable, a stablecoin infrastructure protocol, said in a statement. “Sablier on BSC and Polygon will enable users to access their great product without the friction of high transaction costs.”
Indeed, one of the simplest Ethereum transactions, a swap, costs over $13 even at the lowest speed recommended by gasprice.io as of Nov. 15. It will cost users $16 to make that transaction instantaneous and over $100 for a complex transaction like an instantaneous Uniswap V3 swap.
Willy Ogorzaly, head of decentralization at ShapeShift in the press release, said he’s become a big fan of streaming his outfit’s token, FOX. “Sablier’s expansion to new chains provides a much cheaper option that will open the door to smaller FOX streams which were previously cost prohibitive,” he said in the statement.