Post-Dated Crypto (PDC) Payments
Post-Dated Crypto Payments Made Easy!
PDC Finance enables users to make post-dated crypto payments, similar to post-dated cheques in the traditional finance world. Users register for the PDC Finance wallet, which has a special function to make a payment at future date.
Once the payer signed & sent the transaction (for eg.) pay someone.eth an amount of DAI 10,000 on a future date, for e.g., 15th December 2022, the following things are automatically carried out by PDC Finance Wallet,
- The receiver receives an acknowledgment of PDC payment in the form of an NFT (similar to Uniswap LP NFTs)
- PDC Finance Wallet integrates gelato bots, which pick up this post-dated transaction & watch for the maturity date (in this case 15th Dec 2022) to make the payment to the Receiver from the payer PDC Finance’s wallet. The payer need not hold the necessary balance when initiating the PDC payment. But the payer needs to make sure to maintain the necessary balance (in this case DAI 10,000) & small gas fees in the PDC Finance Wallet at the time of maturity date & time.