Payments

PayFi is about creating new financial markets around the time value of money. On-chain finance enables new financial primitives and product experiences that traditional or even Web2 finance cannot.

The previous articles explored traditional payment systems and blockchain’s unique advantages, along with current challenges in crypto payments. This final installment analyzes emerging trends and innovations that could overcome these obstacles. From non-custodial solutions to DeFi integration, these developments could fundamentally reshape value transfer in the crypto age.

This article, the first in a three-part series, explores the landscape of traditional payment systems, from their historical origins to modern digital transformations.

This article will explore blockchain’s unique advantages in payments: how it opens up financial services to a broader audience and creates a transparent environment where different parties can collaborate efficiently. It will also examine the current state of crypto payments, analyzing both the challenges and opportunities in this emerging space.

The Fat Wallet Thesis suggests that as protocols and applications become "thinner," whoever controls the two most valuable resources—distribution and order flow—will gain more space. This article analyzes the arguments of this theory and examines the two revenue models for wallets: payment for order flow (PFOF) and distribution as a service (DaaS).

Near the end of 2024, blockchain payments suddenly accelerated. Many mainstream financial institutions have begun to increase their support for blockchain payments. What happened that caused blockchain payments to suddenly heat up? Will blockchain payment make a comeback and enter a rapid development track?

This article, the first in a three-part series, explores the landscape of traditional payment systems, from their historical origins to modern digital transformations. As one of the most classic narratives in Web3, GameFi is gradually shifting from “play to earn” to “play for play,” focusing more on gameplay rather than financial aspects. This article will highlight the most promising Web3 game projects in 2024 across various sub-sectors that have the potential to break out and gain mainstream appeal, much like *Black Myth: Wukong*.

This article explores the latest trends in crypto payments, specifically examining how the PayFi concept integrates Web3 payments, DeFi, and RWA to foster real-world applications of crypto assets. It also delves into the growth of the stablecoin market, the entry of traditional fintech platforms, and how PayFi is offering innovative payment solutions.

Fiber Network is a decentralized payment network built on Nervos CKB, supporting fast, low-cost off-chain transactions for multiple currencies, with special interoperability with the Bitcoin Lightning Network. Through technologies such as payment channels and HTLC/PTLC, Fiber provides efficient cross-chain payments and asset transfers.

This article makes an in-depth analysis of how PayFi (Payment Finance) combines blockchain technology and DeFi to create a new financial market. It also explores its core elements, application scenarios, and market potential, and discusses the technical architecture and challenges of Web3 payments.

Unlike the fragmented control seen in Ethereum’s ecosystem, Solana's smaller ecosystem is more agile and responsive. After the collapse of FTX, Solana made a strong comeback, leveraging its high performance, effective marketing, and diverse hardware products. PayFi, introduced by Solana Foundation Chair Lily Liu, has also become a trending topic. Looking ahead, the entire Web3 industry is gradually moving towards off-chain solutions and real-world use cases, marking a key trend for the future.