Merchants today are paying huge fees: transaction costs, forex. conversion, plus additional surcharges in the commission-led model of the merchant services industry. It is our mission to bring down the cost of doing business using electronic payments with a zero transaction fee model. We provide access to a DeFi solution that helps strengthen the financial position of merchants, projects, and independent creative producers, by allowing them to sell products and services with zero friction from the payment network.
The Atellix Network is a DeFi project that provides a payment gateway for merchants, projects and independent creative producers. Founded by Michael Frager, CEO, and Prashray Rai, CMO, we wanted to find a better way for merchants to transact commerce using the low-cost, modern blockchain systems that are now available, such as Solana and others. Our payment system, AtellixPay™, allows merchants, such as DAOs, NFT marketplaces, Ecommerce, SaaS, and more to start accepting stablecoins and Solana SOL tokens as payments.
With AtellixPay™, merchant price their orders in US dollars and are able to withdraw to USDC stablecoins at their convenience. AtellixPay™ provides automatic swapping of tokens so merchants can accept payment in Solana SOL and instantly receive the equivalent USD value in stablecoins. This process is made possible by the on-chain token exchange markets running on the Solana blockchain.
In addition to a simple and fast checkout process that can be attached to any shopping cart, the Atellix Network can also create recurring payments through our Solana smart contract. Recurring payments can be customized in our merchant portal. Merchants can create checkout links, or integrate our API directly with their store.
Over the past three years, major developments have happened in the blockchain technology that have created new ways of doing commerce which we are quite excited about. First, the launch of Solana, a blockchain that has brought down the transaction cost and energy consumption to process a transaction. Solana requires less than 1/10th of energy consumption traditional blockchain systems and is highly competitive with current offerings in the merchant payment space from PayPal, Stripe and others. Second, the growth in USDC, a fully-reserved stablecoin, with active liquidity pools, and free off-ramps on cryptocurrency exchanges like Coinbase, and Juno allows merchants to easily transfer on-chain payments to regular bank accounts.
The Atellix Network provides a fully-reserved stablecoin, Virtual USD® (symbol "USDV"), on the Solana blockchain. Virtual USD® is interoperable with other stablecoins on Solana, such as USDC, and is exchangeable with USDC $1.00 stablecoins on a 1-for-1 basis.
We are currently running a live beta of our zero fee checkout on Solana and looking to accept the first 100 merchants to pilot our software starting: Oct 1st, 2022. Projects can sign up for an account on our website (https://atellix.network). For questions, or more information, please feel free to contact us (email@example.com).