Fabric

new on hypersub.xyz: monthly-recurring credit card payments

pay with a card, subscribe onchain✨

this will mint an nft to the connected address and top-up the onchain balance of time every month. details: https://docs.withfabric.xyz/hypersub/cards

enabled for the hyperactive podcast only. more creators coming soon

this is huuuge! such a novel unlock to bridge web2 and web3 legos

kudos to the fabric team on shipping this

glad stripe was able to play a role here

Risk @Stripe prev: wallets @bitski, search @airbnb | https://www.castsense.xyz/ 

nice! how does this work? does stripe handle making the fiat amount available onchain?

cypherpunk wannabe, engineer working on @frames /open-frames /opencast
https://stephancill.co.za create stories at https://stories.steer.fun

not really. you open a stripe business account attached to fabric platform. stripe handles identity verification/ tax reporting/ web2 payments 

fabric is doing the heavy lifting of syncing this state onchain 

cc: @ds who has the best context on details

Yep, that’s correct. We have a service layer which binds connect payments to onchain calls. The contract owner grants one of our agents a role which can grant or revoke time for an account on the contract. When a payment is confirmed, the agent extends time. 

There is a lot more to it, but that’s the gist.

It doesn’t work that way. A creator who enables credit card payments receives fiat in their stripe account.  From there they can get payouts to their bank, or enable USDC payouts if they wish. Hypersub is facilitating the transaction and binding it to an onchain action which grants time periodically to keep the NFT active. A refund revokes time. No onchain liquidity is required (other than agent gas budget).

how does the conversion from credit card fiat -> paying out in crypto work?