🛠️Technical Specifications

Summary of Functions

LockPay Locker

1. Functionality

   • Creation of Custom Lockers: LockPay enables businesses, projects, and brands to create their own customized lockers tailored to their specific use cases.

   • Locking Duration Flexibility: The lockers offer the option to lock up digital assets for a specific duration of time, allowing businesses to provide time-bound services or benefits.

   • Multiple Unlocking Options: LockPay supports unlocking assets at multiple durations of time, providing businesses with flexibility in defining access periods for their users.

   • Staking Verification: The locker contract has the capability to verify if a user's wallet address is staking the specific token being locked. This feature enables businesses to offer discounts or additional benefits to users who hold and stake the token.

   • Discount Application: When a user's wallet address is detected to be staking the locked token, LockPay applies a discount to the transaction, enhancing user incentives and engagement.

   • Configurable Parameters: Businesses can easily configure various parameters, including contract name, price, discounts, early withdrawal penalties, automatic rollover amounts, and auto-unlock durations, to tailor the lockers to their specific requirements.

LockPay Direct Payments

1. Functionality

   • Creation of Direct Pay Addresses: LockPay allows businesses to create direct payment addresses to accept a wide range of cryptocurrencies as payment for their products and services.

   • Flexible Cryptocurrency Support: The direct pay option offers businesses the ability to select from a comprehensive list of supported cryptocurrencies, providing customers with a wide range of payment choices.

   • Seamless Payment Process: The direct payment process is straightforward, enabling customers to initiate a secure and direct transfer from their wallet address to the designated wallet address of the business, facilitating quick and hassle-free transactions.

   • Crypto Payment Adoption: By incorporating direct payment functionality, LockPay promotes the adoption of cryptocurrencies as a viable and efficient payment method for businesses, fostering a more inclusive and decentralized economy.

Referral Program Integration

1. Functionality

   • Referral Capabilities: LockPay features a referral program that businesses can leverage to incentivize users to refer others to their services or products.

   • Enhanced User Acquisition: The referral program encourages user acquisition by rewarding existing users for successful referrals, helping businesses expand their customer base.

   • Customizable Referral Terms: Businesses can set their own referral terms, such as referral bonuses, rewards, or discounts, to align with their marketing strategies and goals.

2. Technical Implementation

   • Smart Contract Architecture: LockPay utilizes smart contracts to implement its functionalities, ensuring transparency, security, and immutability of transactions.

   • Decentralized Infrastructure: The underlying blockchain technology employed by LockPay offers a decentralized and tamper-resistant platform for asset locking, payment processing, and referral program management.

   • Interoperability: LockPay can be integrated with various blockchain networks, enabling businesses to leverage different blockchain ecosystems and enhance compatibility with existing infrastructure.

   • Scalability and Performance: The technical design of LockPay focuses on scalability and performance optimization, ensuring efficient handling of transactions and user interactions even during periods of high demand.

By combining these technical specifications, LockPay provides a comprehensive solution that empowers businesses to implement secure asset locking mechanisms, accept cryptocurrency payments, and leverage referral programs to drive user engagement and growth.

Smart Contract Functions

Locker Functions

1. createLocker(): This function allows businesses, projects, and brands to create their own lockers. It takes input parameters such as contract name, price, discounts, discounts for staking, early withdrawal penalties, automatic rollover amounts, and auto-unlock durations. The function deploys a new locker contract with the specified parameters.

2. lockAssets(): Users can call this function to lock their digital assets in a specific locker. They provide the token address, lock-up duration, and the amount of tokens to be locked. The function verifies if the user's wallet address is staking the token and applies any applicable discounts.

3. unlockAssets(): This function allows users to unlock their assets from a specific locker. Users provide the locker contract address and the amount of tokens they wish to unlock. The function ensures that the lock-up period has expired before allowing the assets to be unlocked.

4. getDiscount(): This function checks if the user's wallet address is staking the token associated with a specific locker. If staking is detected, the function returns the applicable discount for the user.

5. setReferralProgram(): Businesses can utilize this function to set up a referral program for their lockers. They specify the rewards or benefits for successful referrals, encouraging users to refer others to the LockPay platform.

6. getReferralCode(): Users can call this function to retrieve their unique referral code, which they can share with others. When a referral signs up and utilizes the LockPay platform, the user who provided the referral code may receive rewards or benefits.

7. setEarlyWithdrawalPenalty(): This function allows businesses to set the penalty for early withdrawal of locked assets. They specify the percentage or amount to be deducted as a penalty in case a user chooses to withdraw before the designated lock-up period expires.

8. setRollover(): Businesses can utilize this function to set the automatic rollover functionality for lockers. They specify the duration for the auto-rollover, ensuring that users' assets are automatically locked for an extended period if they do not manually unlock them.

These functions form the core functionality of the LockPay's Locker smart contract, enabling businesses to create customizable lockers, allow users to lock and unlock assets, apply discounts for staking, set up referral programs, penalize early withdrawals, and implement automatic rollovers.

Direct Pay Functions

1. createDirectPay(): This function enables businesses to create their own Direct Pay addresses. It allows them to specify the accepted cryptocurrencies from a provided list. Once created, customers can make direct payments to the business using any of the supported cryptocurrencies.

2. makePayment(): Users can call this function to initiate a payment to a specific Direct Pay address. They provide the chosen cryptocurrency, the recipient's Direct Pay address, and the amount of tokens or coins to be transferred. The function facilitates the direct transfer of funds from the customer's wallet to the business's designated wallet address.

3. getSupportedCryptos(): This function returns a list of the supported cryptocurrencies for a specific Direct Pay address. It provides customers with visibility into the available payment options accepted by the business.

4. setReferralProgram(): Similar to the Locker functionality, this function allows businesses to set up a referral program for their Direct Pay addresses. They define the rewards or benefits for successful referrals, encouraging customers to refer others to use the Direct Pay feature.

5. getReferralCode(): Customers can call this function to retrieve their unique referral code associated with a Direct Pay address. By sharing their referral code, customers can earn rewards or benefits when new customers make payments using the Direct Pay feature and provide the referral code.

6. setDiscount(): This function enables businesses to set discounts for specific cryptocurrencies or payment methods within their Direct Pay addresses. They specify the discount amount or percentage, encouraging customers to use certain payment options.

7. setConversionRate(): Businesses can utilize this function to set the conversion rate for different cryptocurrencies within their Direct Pay addresses. This allows them to determine the equivalent value of each supported cryptocurrency and maintain accurate pricing for their products or services.

The Direct Pay functionality in LockPay provides businesses with the capability to create their own payment addresses, accept a variety of cryptocurrencies, set up referral programs, apply discounts, and customize conversion rates. Customers can make direct payments using their preferred cryptocurrencies, fostering a seamless and efficient payment experience for both businesses and customers.

Referral Functions

1. setReferralProgram(): This function allows businesses to set up a referral program within their LockPay system. They define the rewards or benefits for successful referrals, such as discounts, bonus tokens, or exclusive access to certain features. The referral program incentivizes customers to refer others to use LockPay, thereby expanding the user base.

2. getReferralCode(): Customers can call this function to retrieve their unique referral code associated with their LockPay account. By sharing their referral code with others, customers can earn rewards or benefits when new users sign up and perform specific actions, such as making payments or creating Lockers.

3. getReferralCount(): This function returns the total number of successful referrals made by a specific customer. It allows businesses to track and reward customers based on the number of successful referrals they generate.

4. getReferralRewards(): Businesses can use this function to retrieve the referral rewards earned by a specific customer. It provides visibility into the rewards accumulated by customers through successful referrals.

5. withdrawReferralRewards(): Customers can call this function to withdraw their referral rewards from their LockPay account. The rewards are transferred to their designated wallet address, providing customers with the ability to redeem their earned benefits.

The referral functionality in LockPay enables businesses to implement and manage referral programs, empowering customers to refer others and earn rewards. By leveraging the referral system, businesses can drive user acquisition, foster customer loyalty, and create a network effect that contributes to the growth and success of the LockPay ecosystem.

LockPay Additional Admin Functions

1. lockFunds(): This function allows users to lock a specific amount of funds in their LockPay Locker for a defined duration. The locked funds cannot be accessed or withdrawn until the lock duration expires.

2. unlockFunds(): Users can call this function to unlock their locked funds before the specified lock duration ends. However, there may be penalties or fees associated with early unlocking, depending on the lock settings defined by the business.

3. getLockedBalance(): This function returns the current balance of locked funds in a user's LockPay Locker. It provides users with visibility into the amount of funds they have locked up for various purposes.

4. extendLockDuration(): In cases where users want to extend the lock duration of their funds, they can utilize this function. By calling this function and specifying the desired extension period, users can prolong the lock duration and maintain their funds locked for an extended period.

5. applyDiscount(): When users meet specific criteria, such as staking a particular token associated with the LockPay Locker, this function applies a discount to the transaction. It incentivizes users to stake the token and offers them a reduced price or additional benefits when using the LockPay services.

6. autoUnlock(): For Lockers with automatic unlock settings, this function triggers the automatic unlocking of funds once the specified duration elapses. It allows users to set up Lockers with predetermined unlock schedules, providing them with a hands-off approach to fund management.

7. rolloverFunds(): In cases where users want to roll over their locked funds into a new lock period automatically, this function facilitates the process. By specifying the rollover amount and duration, users can ensure their funds remain locked and extend their lock period seamlessly.

These additional functions expand the capabilities of LockPay, enabling users to have more control and flexibility over their locked funds while offering them discounts, automatic unlocking, and rollover options.