Solana Introduces Native Subscription and Recurring Payment System
Solana adds native subscriptions and recurring payments to its blockchain
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Solana has launched a new infrastructure for native subscriptions and recurring payments on its blockchain, enabling developers to implement billing solutions without centralized processors. The program, now live on mainnet, simplifies the setup of services like SaaS subscriptions and payroll through three payment models: Allowances, Recurring Delegations, and Subscription Plans.
- 01The new program, called Solana Subscriptions and Allowances, is open source and audited by Cantina and Spearbit.
- 02It supports three payment models: Allowances, Recurring Delegations, and Subscription Plans, allowing for flexible payment setups.
- 03Companies like Helius, Confirmo, and Dynamic are already integrating the program into their services.
- 04Solana claims to process more transactions than all other chains combined, with over $2 trillion in stablecoin transfers in a single quarter.
- 05The program works with both SPL Token and Token-2022, including confidential transfers.
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Solana has launched a native subscription and allowance infrastructure on its blockchain, enabling developers to easily implement recurring payments without the need for custom software or centralized payment processors. This new program, named Solana Subscriptions and Allowances, is now live on the mainnet and has undergone security audits by firms Cantina and Spearbit. It offers three payment models: Allowances, which allow users to pre-authorize spending; Recurring Delegations, enabling scheduled payments; and Subscription Plans, which let merchants set fixed pricing tiers for services. Early adopters, including Helius and Confirmo, are already integrating these features into their platforms. Solana's payment infrastructure has been operational since 2020 and is reportedly processing more transactions than all other blockchains combined, with significant stablecoin transfer volumes and low transaction fees.
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The introduction of native subscriptions and recurring payments on Solana's blockchain could significantly streamline billing processes for developers and businesses, enabling more efficient on-chain transactions.
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