Bulla’s off-chain invoicing offers cost relief, makes web3 business easier
It’s no surprise that transacting on Mainnet is expensive. In 2023, the average cost of the simplest Mainnet transaction fluctuated between $3.70 and $1.01, according to YCharts,* a website that tracks crypto cost data. This means that web3 contractors, devs and consultants doing frequent transactions could be earning less because of the high cost they incur paying gas fees.
At Bulla, we feel your pain, which is why we developed our new off-chain invoicing feature. With off-chain invoicing, you can use Bulla to invoice someone off-chain so they can pay you on-chain, maintaining on-chain seamlessness while reducing the overall cost of the transaction.
Building out Bulla Finance
This new feature, created in response to users’ requests, is one of several new features that Bulla Network is rolling out to enable a wider range of functions for web3 businesses.
How it works
As seen below, when creating an invoice on Bulla, you are given the choice between on-chain and off-chain. When you send an off-chain invoice, your client gets an invoice emailed to them.
The client can then click on the “Pay Me” link and execute payment.
Below is the email received by your client.
When your client hits “Pay Now,” they get a request to approve the transaction and then the transaction shows up on their Bulla Dashboard as seen below.
As part of the sequence, Bulla sends a confirmation email back to you once the client has paid.
Bulla is enabling web3 business
In addition to off-chain invoicing, Bulla’s latest features include the Bulla Explorer, a more robust web3 dashboard to simplify and organize your on-chain chaos, FrendLend, a p2p lending app, and custom payment links, which allow users to set up tip-jar and crowdfunding capabilities. Bulla is also working on offering proprietary lending pools which would enable on-chain invoice factoring, among other functions.
As I’ve said many times, credit is the foundation of all business, and being able to generate credit on-chain using Bulla Finance will enable web3 businesses to scale and really leverage the blockchain for some of its most powerful uses. This functionality is really why we created Bulla Network, and so I’m really pleased we can finally offer it.
BullaNetwork is a revolutionary new Web3 accounting protocol that, through its dApp, BullaBanker, allows users to quickly and easily conduct personal and commercial transactions on-chain.
*(https://ycharts.com/indicators/ethereum_average_transaction_fee)
