PyREX

The On-Chain Forex Payment Provider with Autonomous Agent Settlement project aims to improve cross-border payments by leveraging blockchain technology and Autonomous agents for faster, cheaper, and more transparent currency exchanges. By using stablecoins, Autonomous agents, and PayPal integration, this solution addresses the gap in everyday and micro-forex payments along with high fees, slow processing, and poor exchange rates. The problems we are mainly targeting are

1. Unavailability: Certain merchants don't accept International Payments or Crypto Card Payments, mainly the small businesses.
2. High Fees: Forex cards and international payment platforms charge high fees.
3. Poor Exchange Rates: Users face unfavorable rates for currency conversion.

Solution: This platform introduces an on-chain forex payment settlement that removes intermediaries and provides real-time, transparent, and cost-effective payments. The system uses PYUSD as the base currency, with Autonomous agents ensuring the best exchange routes for users and vendors.

Tech Stack Overview: Frontend: React Native for the mobile app (cross-platform) and React for the HeroPage (web entry point). Backend: Express.js combined with PostgreSQL for handling API requests, managing the orderbook, and storing transaction data. Database: PostgreSQL is used for managing payment intents, orders, reservations, and settlements. Payment Integration: PayPal is integrated to allow users to pay in USD, which is then converted into the platform's stablecoin (PYUSD). Blockchain Execution: Solidity for smart contract development and deployment on Polygon’s x402 blockchain to handle on-chain transaction settlements. Authentication: SELF Protocol ensures secure user authentication using Zero-Knowledge Proofs (ZKProofs) for privacy-preserving identity verification.

How Components Work Together: Frontend (React Native + React): Handles user interactions for payments, transaction tracking, and order status on mobile and web platforms. Backend (Express.js + PostgreSQL): Manages the core logic of user requests, orderbook, Autonomous agent operations, and stores all transaction-related data. Autonomous Agent: The Autonomous agent uses data from PostgreSQL to match user payment intents with vendor orders, determining the best route for stablecoin conversion. Payment & Blockchain (PayPal + Solidity + Polygon): PayPal processes user payments in USD, which are converted to PYUSD. Solidity smart contracts on Polygon handle the on-chain execution of stablecoin conversions and payment settlements. Authentication (SELF Protocol): Users authenticate securely using ZKProofs, ensuring privacy and compliance with KYC regulations.