Core Concepts

To understand how MoniPay achieves gasless, non-custodial payments, it's helpful to understand a few core concepts.

1. MoniTag

A human-readable payment identity. Think of it like an email address for payments. Instead of sharing a complex address like 0x4a3b...7f2e, you just share @alice. It's registered once and belongs to you forever.

2. Gasless Transactions

Normally, every action on a blockchain costs "gas" (paid in ETH or BNB). MoniPay uses a Relayer Network that pays this gas on your behalf. You only ever need to hold the stablecoin you want to spend.

3. EIP-712 Typed Data Signing

When you authorize a payment, the app creates a human-readable message (e.g., "Pay $10 to @coffee_shop"). You sign this message locally with your private key. This signature is what the relayer uses to prove to the smart contract that you authorized the payment.

4. Meta-Transactions

This is the technical pattern where a third party (the relayer) submits a transaction to the blockchain on behalf of a user. The user's authorization is embedded in the transaction data.

5. Invisible Wallet

Your private key is generated on your device, encrypted with your PIN, and never uploaded to any server. You get the security of a hardware wallet with the ease of a mobile app.

6. Settlement

The moment the blockchain confirms the transaction and funds move. On MoniPay's supported chains, this happens in under 2 seconds.

7. Agentic Commerce

Financial transactions initiated and completed by AI agents autonomously. MoniBot is our implementation of this, allowing agents to "read" social intent and execute payments.