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project screenshot
project screenshot

Metate

Metate allows anyone to stream XOC - decentralized Mexican Pesos

Metate

Created At

ETHMexico

Project Description

The idea is to create cheap and easy ways to start Superfluid streams for XOC on Polygon. This will open up a new paradigm for payments in Mexico where finance has been stuck for a century, Metate allows workers to get paid exactly for what they work for and businesses can run their operations more efficiently. Same for other use-cases as TV or internet subscriptions, they could be paid via Metate.

The most important use-case is remittances, where 12.5 billion dollars were transferred from the US to Mexico last year alone and the average fee % taken from each transaction hovers around 10 to 14% of the transaction's value.

How it's Made

First, we decided to launch on Polygon as it is the best current alternative to building on Ethereum Mainnet due to the high gas fees. We then chose Superfluid as our go-to sponsors as we deemed it the perfect candidate for our Proof-of-Concept with Xocolatl, a decentralized Mexican stablecoin deployed by the PipilaDAO -- a group of Mexican hackers working on onboarding more Mexicans into DeFi.

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