[PRESS RELEASE – Sheridan, United States, 20th September 2022]
Coinshift’s native integration of Superfluid Protocol allows DAOs and web3 businesses to automate payroll with money streams, saving HR managers time and cognitive effort
Coinshiftthe leading treasury management and infrastructure platform that enables DAOs and web3 businesses to manage treasury operations securely and efficiently, is pleased to announce its native integration of superfluid Protocol (“Superfluid”) within its V2 Dashboard is now live. Coinshift’s native integration of Superfluid allows users to create, view, manage & edit real-time money streams directly from the Coinshift dashboard, enabling them to put web3 payroll on autopilot. As programmable and automatable second-by-second token flows, salary streams help treasury managers save hours in administrative labor and reduce complexity.
“We are thrilled to partner with Superfluid – a pioneer in real-time finance and the leading asset streaming protocol for EVM networks – to bring the utility of money streaming to DAOs and crypto-native businesses. Superfluid is a key part of our product roadmap going forward as we build out the foremost treasury management solution for crypto-native organizations, and we look forward to further incorporating Superfluid streaming throughout Coinshift’s treasury management workflows.” – Tarun Gupta, CEO of Coinshift
In addition to being able to start multiple streams in one transaction, web3 treasury managers using Coinshift to stream salaries can enjoy a variety of Coinshift’s best-in-class treasury management features (eg, tagging and labeling transactions for seamless accounting, adding detailed notes, the ability for non-signers to create proposals). Moreover, when starting/stopping streams via Coinshift, tokens are automatically wrapped just-in-time to keep the streams running without any intervention required from the multi-sig signers.
Salary Streaming Benefits for Crypto-Native Organizations
Reduced time & cognitive effort: Salary streams only require one transaction to start, and they flow in perpetuity until you decide to stop them – drastically reducing the time and cognitive effort of manually managing payouts every month.
Scaleable, gas-efficient payouts: You can set up multiple streams in bulk (including multiple tokens) in a single transaction, and the longer you keep your streams running, the more significant your gas savings are over the long term.
Salary Streaming Benefits for Employees and Contributors
Enhanced financial flexibility: By streaming salaries with Superfluid, employees and contributors receive their income every second as opposed to bi-weekly or monthly, allowing them to spend and invest their money in DeFi as they earn it over time.
Continual reward & incentivization: By using the Perpetual Conditional Rewards token (an UMA KPI option that streams token rewards in proportion to the condition met), employees and contributors can be consistently rewarded and incentivized for achieving certain KPIs.
“Superfluid is a ubiquitous solution for web3 value transfer, and by partnering with Coinshift, we’re making it widely accessible to a diverse range of crypto-native organizations. We’re excited for DAOs, web3 businesses, and their stakeholders to experience the benefits of salary streaming — be it enhanced treasury efficiency or capital flexibility — as they focus on building radically new technologies.” – Francesco Renzi, Co-Founder and CEO of Superfluid
Coinshift is the leading treasury management and infrastructure platform that enables crypto-native organizations to manage their treasury operations securely and efficiently. Built on Gnosis Safe and live on seven chains, Coinshift provides an easy-to-use solution for payout management, collaborative multi-signature transactions, and comprehensive reporting for Ethereum and Polygon, allowing users to reduce operational costs and save up to 90 percent on gas fees. Hundreds of crypto businesses, including blue-chips like Aave, Messari, and Polygon, trust Coinshift to manage over $1bn in crypto assets.
Superfluid is the leading asset streaming protocol that enables Web3 native subscriptions, salaries, and rewards for DAOs and crypto-native businesses. Superfluid streams transfer value in a constant flow over time between wallets in a non-custodial and permissionless manner. Superfluid Protocol can be used to describe cash flows and execute them automatically on-chain, over time, and in a non-interactive way. Money streams are programmable, composable, and modular, allowing developers to build custom applications on top of the protocol. No capital is locked up, and all inflows and outflows are netted in real-time at every block without consuming any gas. Ongoing streams can be forwarded as they are received to both wallets and applications, eliminating delays and drastically increasing capital efficiency.