Project Summary PayX, developed for the ScrollVortex Hackathon, enhances Non-Fungible Tokens (NFTs) particularly ERC6551 TokenBoundAccounts (TBA) and digital wallets, providing users with greater control and security over their assets. Users can mint unlimited NFTs, each associated with multiple wallets. Wallets have specific restrictions, ensuring proper fund allocation and utilization.
Minting NFTs: Users can mint any number of NFTs, allowing for diverse asset representation within the blockchain.
**Wallet Restrictions: **Each wallet is subject to restrictions:
Admin-Only Deposits: Only administrators can deposit ETH into wallets, ensuring centralized control.
Owner Controls: NFT owners can send ETH to specified addresses within a defined timeframe. Failure to do so results in locked funds, withdrawable by administrators.
Problem Solving PayX addresses the challenge of ensuring proper utilization of donated funds.Since the money can only be sent to allocated address and in definite interval , hence the money given as donation can only be used in quality work.(like clothes shops,groceries in a city.)
Video Description:
In this video demonstration, we showcase the functionality of PayX:
Admin Deposit: The admin address deposits 30 ETH into the central PayX contract.
Creating Wallets: Two wallets, w1 and w2, are created within a single NFT.
Fund Transfer: The admin address sends ETH to wallets w1 and w2. These funds can only be sent to specified addresses and only after a certain time, as indicated by the wallet restrictions.