Galeon
UnitPay is a decentralized payment system
Created on 24th June 2025
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Galeon
UnitPay is a decentralized payment system
The problem Galeon solves
Stablecoins are fragmented — and disconnected from real-world spending
Although stablecoins like USDC, USDT, and regional tokens (e.g., MXN stablecoin) are widely adopted in the crypto space, they face two fundamental issues:
1. Lack of real-world utility
Most stablecoins remain confined to on-chain use. Users can’t easily spend them for everyday needs — from shopping to transfers — because most merchants don’t accept crypto.
2. Multi-chain, multi-token fragmentation
The same stablecoin exists across different chains (Ethereum, Solana, Tron), and different countries issue localized stablecoins. This leads to payment fragmentation, inconsistent merchant settlements, and high integration overhead for developers.
Challenges I ran into
One major challenge we faced was verifying off-chain fiat payments (e.g. PayPal) in a trust-minimized, on-chain-compatible way.
Most Web3 payment protocols rely on user input or centralized backends to confirm off-chain actions — which breaks the trust model. We needed a way to connect external payment confirmations to smart contracts securely and automatically.
To solve this, we designed a flow where:
• LPs submit payment reference IDs (e.g. PayPal order ID)
• Our off-chain service verifies payment status via APIs
• The verified result is relayed back on-chain through a public callback
• Funds are only released once the verification passes
This allowed us to maintain decentralization while integrating real-world payment systems. We plan to generalize this into a broader intent-verification framework that supports other payment methods like Stripe or bank transfers.
Tracks Applied (1)
Onchain Finance
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