Timed Transactions

Timed Transactions API

Enables third parties to schedule timed transactions on the Stellar network

Summary

Our project’s mission is to accelerate development timelines and to ease implementation of the Stellar network services. This is achived by creating a second layer infrastructure with API services designed for the most common payments use cases. We will begin with timed and multiple transactions.

Goals

Our goal is to share our existing scheduling features in a public, scalable way, so that developers and wallet operators can focus on quickly turning their ideas into applications.

Our objectives are:

  1. Create an API to enable timed and scheduled transactions on the Stellar Network.
  2. Schedule a payment to be sent on a specific future date
  3. Schedule a payment to recur daily, weekly, or monthly
  4. Create an API that provides the ability to define multiple transactions with different destination addresses and different date settings.
  5. Send mass payments of various quantities and Stellar-based Asset Codes to many public keys at once or on various dates, by simple CSV format ingest.
  6. Adapt our existing scheduling services to meet the requirements of an open API.
  7. Provide the API as a non-custodian service. Secret keys are not transmitted. Signing of transactions is done by SEP-007
  8. Run and maintain a server to submit the transactions (XDRs) at the right time.
  9. Provide easy to understand documentation, tutorials, and support forums, describing the functions in detail and explaining the API definitions, structure, and usage.

Description

What does the Timed Transactions project enable users to do?

Timed Transactions enables it’s B2B users (e.g. wallet developers) to extend their use cases on timed transactions. This enables a whole range of new functionalities as e.g. escrow services.

Timed Transactions is a project of “Blue Orion” service platform. So, far we’ve developed the following value-added features, which are live on our site, blueorion.cc (but which need API’s built):

  • Timed Transactions: schedule future payments on specific dates.
  • Recurring Payments: send payments daily, weekly, or monthly.
  • MultiSend: mass distribute any quantity of any Stellar-based token, to any list of public keys, and schedule bulk token distribution with a simple CSV-file upload.
  • MyKeys: make a static URL to monitor a KeyList, a set of public keys and their balance.
  • Vouchers: redeem a 5-digit code to get a wallet pre-funded with XLM & SMART.
  • Proof of Existence: validate integrity of intellectual property by a hash on Stellar blockchain.
Why is the Timed Transactions project valuable for Stellar?

Stellar gains value from the Timed Transactions project because the API will add a new service which is not yet existing on the Stellar network. Additionally, the Timed Transactions project will enable a new range of use cases not possible before.

Further, entrepreneurs and enterprises alike will be able to create minimum viable products faster and cheaper, which enables them to validate customer adoption, and makes them more likely to launch applications based on the Stellar protocol.

Integration into other platforms and wallets?

We just recently connected with lobstr.co, a widely used Stellar wallet, satoshipay.io (micropayments) and also with stellarport.io (exchange and wallet). Our next steps are the review of their use cases and requirements on the API.

How will we spend the funds, if we would be one of the winners?

We will cover the current expenses like server and infrastructure. Second we will aim to make the project self sustaining to make sure it will be available and free for usage in the future.

If you like our project give us a like here on galactictalk, as the number of likes are the criteria to be nominated into the next round. Thanks.

Links:

Project: https://blueorion.cc/timedtransactions
Demo Walkthrough: https://blueorion.cc/documents/Blue-Orion_SCF_Demo.pdf
Direct signin with a testaccount: https://blueorion.cc/testaccount

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    Hi I just did a like on this but it still says eligible votes = 2, even after a refresh.

    Maybe it will update the tally later?

      tallship-

      Your account is too new, only votes from accounts that existed already in March count.

        smartstellar

        What's your plan to deal with failed transactions?

        It seems like there are so many ways this can fail, especially with surge pricing, and the network downtime we have experienced just this week.

            tallship- Hi, thanks for voting for our project. Yes,, as dzham writes, for this round only accounts created in March 2019 or earlier are counted. You can vote for the next round. If you have feedback on our project or have suggestions let us know :-) This will help us to know more about the requirements/usecases and further improve our product.

                dzham Hi, thanks for your feedback. You are addressing two important points

                Failed Transactions

                We implemented a retry process, so even downtimes of over an hour as we had this week can be handeled. In the worst case, if a transaction could't be submitted, you will see that on our monitoring page. See a screenshot below. For a first hand experience you also can signin on our web wallet with a testaccount: https://blueorion.cc/testaccount

                Surge Pricing/Volatility

                This is true for XLM and all non-stable tokens.

                • We still see a range of usecases with stable tokens. E.g. tokens from stronghold can enable an easy way to payout US$-Tokens worldwide with minimal costs.
                • and also with utility tokens which are purly used for internal company purposes a timed payment model can be useful.

                If anybody has more use cases let us know or also join our open meeting every month to see in detail how we work. You can contact us via contact[at]blueorionDOTcc.

                View Payment Schedules

                    bkolobara changed the title to Timed Transactions API - Schedule payments on the Stellar network! .

                    Hi all,

                    as I mentioned above, we have monthly open meetings. The next one is next Thursday, on 30th of May. Everybody who has interest in our activities is welcome.

                    Send me a note at contact[at]blueorionDOTcc to get the conferencelink. Looking forward to have you in the call.

                    International Times are:
                    20:30 IST (New Dehli, India)
                    17:00 CEST (Munich / Europe)
                    11:00 EDT (New York, USA)
                    08:00 PDT (Los Angeles, USA)

                    7 days later

                    Hi all,

                    thanks to everybody who joined our meeting yesterday. We agreed to proceed with promoting the project within the Stellar Community and also will provide specific slides.

                    Thanks for the community news from Mexico, Malta and Chicago. It was also good to hear more projects are moving towards Stellar.

                    As always, if there are questions on the project or want to join the team let us know.

                    smartstellar

                    The problem with failed transactions is that they may fail and still get included in a ledger, thereby consuming a sequence number. Now you can't retry it in a simple way without re-signing that one, and all the consecutive transactions you've set up for scheduling.

                        dzham Yes, we ran into that with our first version. We now found a solution for that without having to resign all following transactions. You can check that with any stellar account and create a schedule or use our testaccount on: https://blueorion.cc/testaccount.

                        See also a sample screenshot below.

                        I know you developed the stargazer wallet. I already installed it a while ago.
                        Are you possibly interested on a cooperation and implement our future API with your wallet?

                        View Payment Schedules

                            4 days later

                            smartstellar Is this open source? I saw your Reddit post which said it was but then theres no mention here or your site and I couldn't find the source to check out

                                tmacshaq Hi, no our service platform is not open source. If you have more detailed questions you can contact us via blueorion.cc. We are currently also running a test program, if you are intersted.

                                  smartstellar Are you possibly interested on a cooperation and implement our future API with your wallet?

                                  I think it would be more useful for me to implement support for SEP-0007, or at least parts of it, and go that route instead of a direct integration. Integrations with new APIs are always tricky, since it increases the number of external dependencies you have, and the amount of maintenance you're exposed to.

                                      dzham I also guess its good to start with SEP-0007.

                                      With that our users could sign transactions using your wallet. If you want to integrate our timed payments in your wallet you also need to transfer data to us. This would be another step.

                                        Hi all,

                                        we are announcing our next monthly meeting on Thursday, 27th of June. Everybody who has interest in our activities is welcome. Send me a note at contact[at]blueorionDOTcc to get the conferencelink. Looking forward to have you in the call.

                                        International Times are:
                                        19:30 IST (New Dehli, India)
                                        16:00 CEST (Munich / Europe)
                                        10:00 EDT (New York, USA)
                                        07:00 PDT (Los Angeles, USA)

                                        Hi all, just an update on the ongoing work. Currently we are doing some Beta tests on the MultiSend module. You find a more detailed testing description on our subreddit account: Multisend Testing

                                        If I have a subscription service can I have Stellar users subscribe and the payment will be sent automatically every month?

                                          deylandra We are working on a subscription solution. Yes, the payment will be sent automatically every month.