How does it work?

The Bulla Protocol is currently deployed on Polygon, Gnosis Chain (formerly xDai), Celo, Avalanche, and RSK.

There are two ways a user can create a Bulla Claim token.

  1. Via the BullaBanker interface.

  2. Via the BullaClaim interface (coming soon)

  3. Directly on the smart contracts.

Bulla Claims - Technical Overview

Bulla Claims are inherently very simple. A step-by-step technical description of commerce via Bulla Claims are as follows:

  1. A user creates a claim with a creditor and debtor for x amount.

  2. A claim NFT is minted to the creditor.

  3. The debtor or any other party can pay the creditor via the claim.

  4. X amount of ERC20 tokens are transferred via the claim.

  5. The claim is closed

To expound on this: consider the following example where Alice must invoice Bob.

  1. Alice has done commerce with Bob. Alice now needs to invoice Bob for 60 DAI.

  2. Alice uses the BullaBanker interface to create a Bulla Claim for 60 DAI. The claim details are as follows:

    1. Creditor: Alice's wallet address.

    2. Debtor: Bob's wallet address.

    3. Due date: any future date (i.e. end of the month).

    4. Amount and token: 60 DAI.

    5. Attachment: an included IPFS hash pointing to Alice's SOW, receipt, deliverables, etc.

  3. Alice creates the claim on and it is 1 CLAIM token is minted to her as a creditor. As a creditor, she can do with the NFT what she'd like; keep it and await payment, transfer it to another user or wallet, or even sell it on OpenSea to liquidate at a reduced price.

  4. Since Alice chose to send an email notification to Bob about his invoice, Bob sees this and opens BullaBanker and pays the claim.

  5. 60 DAI + a small fee leaves Bob's wallet and is transferred directly to Alice's wallet. The claim's status is now "Paid".

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