The problem Lyra solves

🛠 The Problem It Solves
Today’s payment systems — especially for government disbursements and merchant collections — rely heavily on centralized intermediaries like banks and payment processors. This creates several problems:

Slow settlements— Funds can take days to reach merchants.

High fees — Traditional payment gateways charge significant transaction fees.

Limited transparency— It’s hard to verify how funds are distributed and spent.

Geographic restrictions — Some citizens or small merchants in rural areas have limited access to banking services.

Fraud & chargebacks — Centralized systems can be abused through disputes or identity fraud.

The LYRA Payment System solves these problems by:

Direct on-chain transfers — Payments go from user to merchant instantly, without middlemen.

Low transaction costs — Minimal blockchain gas fees instead of high card processor charges.

Government-to-citizen disbursement — LYRA tokens can be distributed directly to wallets without bank accounts.

Merchant verification — Only whitelisted merchants can receive payments, reducing fraud risk.

Transparent & auditable — All transactions are recorded on the Polygon blockchain for full accountability.

Ease of use — Merchants generate QR codes; users simply scan and pay from their wallet — no bank integration required.

In short, LYRA makes digital payments faster, safer, cheaper, and more transparent — while empowering unbanked communities to participate in the digital economy.

Challenges we ran into

• hackathon time too short
• hackathon guidelines not clear
• Scaffold-Eth-2 have lots conflict with the Web 3 Auth, causing login error, finally solve