On Friday, June 29th of this week, Project Hydro will be releasing the first public release of the Hydro Pay app, in the Google Play Store, with the iOS version to soon follow. Hydro Pay is designed to be an intuitive, simple to use, mobile app, built for day to day P2P payments.
In doing away with gas fees, the app allows both crypto and non-crypto users alike, to quickly set-up and make small, every day, payments to their contacts. Project Hydro stated that “early testers included users across all demographics, from old to young, crypto fanatics to technophobes, and has gained constant praise for its simplicity and ease of use.”
The first release will be Hydro only with the live dollar value shown in-app, so users will always know what they are sending. Later releases will add additional ERC20 tokens and FIAT onboarding.
How does it work?
The Hydro Pay app is based on the idea of meta-transactions, allowing users to send payments without paying gas; however, without the Hydro Snowflake identity framework and ERC1484 ,the building of these permissionless, peer-to-peer payments wouldn’t be so simple yet powerful.
What is Hydro?
Hydro is a layer two solution built as a series of open-source smart contracts, covering authentication, identity, payments, documentation, and tokenization. The native HYDRO token is required to call functions on these smart contract and build products, and as such has multiple uses within the Hydro ecosystem.
Along with the Pay app, the Hydro team will shortly be releasing Hydro X, a global, low fee, remittance app/dApp, and Vault, a wallet with 2FA integrated directly into the smart contract.