Create a Payment Contract
Tutorial on how to create payment contracts using Streamflow
Progressive unlock payments on Streamflow are an efficient, easy to use, and secure way of payroll management. The powerful and configurable features of the Streamflow app let you unlock payments to employees, freelancers, service providers, and contractors as per your requirements. Let’s go through a step-by-step process of setting up payroll contracts using Streamflow.
Step 1: Connect the wallet
Firstly, you need to visit the Streamflow app via the following URL:
Next, you will have to connect the wallet to start using the app. Streamflow supports multiple wallet providers, such as Phantom, Metamask, Solflare and many more. After connecting the wallet, make sure to switch to the "Payment" and click "Create New"
Step 2: Token and unlock frequency and start date
Now, you can choose any token of your choice for the contract as well as the duration.
"Unlock Schedule" will determine how often locked tokens in the contract are going to be released.
Next you can choose whether you want to have the contract begin immediately when it's created, or to schedule it for the future.
Step 3: Advanced settings
With Auto-Claim you can automate the need for the recipient to claim their tokens as they unlock. Instead the unlocked tokens are directly dropped into the recipients wallet. The sender will pay the fees for these transactions.
Lastly, you can select who can cancel the contract as well as who can transfer and change the recipient address.
Step 4: Recipient and amount
Next you'll need to input the amount being sent and the recipients wallet address. At this point you can also add a title for the contract to more easily keep tabs on which contract applies to which recipient. Lastly you can add an email address of the recipient, that way the recipient will recieve email notifications around the contract updates.
Step 5: Review
Next you'll land on the review page, where you can check the graph to confirm it matches your configuration expectations.
Below you'll find some key details around the contract including:
Number of recipients
Total amount of tokens to be deployed to the contracts
Streamflow fees
Below the high level information you can find all the configuration information about the contract you've created as well as our fees once more.
Step 6: Create the payment contract
Email notifications
If the recipient's email address has been added during the creation of the payroll stream, an email will be sent to the given address with all the details about the stream.
Additionally, the recipient will get notified when unlocked funds are transferred into his/her wallet.
Please keep in mind that adding the recipient's email address is an optional feature and it can only be added while creating the contract.
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