Introducing Polxpay — A Secure Payment System For Crypto Freelancers

3 min readMar 15, 2024

Greetings Polylastic community,

The 2024 year is now in full swing, and Polylastic is thrilled to unveil new products aimed at simplifying crypto solutions for all. While our Polylastic Index remains pivotal, we’re expanding our offerings to cater to everyone from novice traders to established enterprises. In the ever-evolving crypto landscape, Polylastic is steadfast in its mission to lead the charge toward mass adoption.

In today’s digital age, freelancers play a crucial role in the global workforce, yet concerns over payment security and transparency persist. Enter our blockchain-based smart contract system, Polxpay, designed to tackle these issues head-on. By ensuring fair and timely compensation for freelancers, we not only safeguard their interests but also uphold customer trust.

Polylastic’s smart contract system streamlines payment processes, ensuring freelancers are duly compensated for their expertise. With payments locked in based on agreed terms, uncertainties surrounding delays or disputes are eliminated. Moreover, our system guarantees fairness for both freelancers and clients; in case of work interruptions, funds for completed tasks are promptly released to freelancers, while the remaining amounts are returned to clients, bolstering trust and reliability within our ecosystem.

How Does It Work?

Our smart contract system operates on a simple yet effective principle: Time Worked = Money Earned. When a freelancer begins a job, the contract locks in the payment based on the agreed hourly rate and the estimated time for the project. This amount is securely stored in the contract until the work is completed.

What If The Work Is Paused Or Stopped?

In the event that the work is paused or stopped, the system ensures fairness for both parties. The money corresponding to the time the freelancer has already worked is immediately released to them. The remaining amount, corresponding to the unused time, is returned to the client. This ensures that freelancers are paid for their work done, and clients only pay for the time worked.

How Does POLXpay Benefit POLX Holders?

In gratitude for our dedicated community, Polylastic extends its appreciation by rewarding POLX holders for every transaction conducted through our payment system. Through our innovative model, Polylastic allocates a small fee of 0.5% of all Polxpay transactions to be airdropped directly to POLX token holders every quarter, offering them a consistent passive income stream.

Furthermore, an additional 0.5% of transaction fees are earmarked for the maintenance and expansion of the Polylastic ecosystem, ensuring its ongoing development and sustainability. This dual-pronged approach not only incentivizes active participation but also cultivates community engagement and creates long-term value creation for all stakeholders involved.

Why Choose POLXpay?

The Polxpay smart contract system provides unmatched benefits, encompassing security, transparency, and fairness. Security is guaranteed as the contract securely locks in payments, ensuring that funds are safeguarded and disbursed according to the agreed terms. Transparency is upheld as both parties have visibility into the locked-in amount, time spent on the project, and the corresponding payment owed. Additionally, the system ensures fairness by compensating freelancers for their work in the event of project changes, while protecting clients from being charged for unworked time. These features collectively make our smart contract system a reliable and equitable solution for contractual agreements.

Closing Thoughts

Polylastic offers a game-changing solution for freelancers and clients alike, ensuring fair payments, transparency, and community engagement. Join us in revolutionizing the freelance economy and unlocking the full potential of Polylastic’s payment system! Stay tuned for updates regarding the status of Polxpay, including a first look at the user-friendly interface and important dates!

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