Streampay

Streampays are Layer One immutable scheduled payments, once a streampay is set it cannot be undone, although there are two ways to fund the streampay, either with funds frozen in the streampay neuron itself that cannot be unlocked or with an owned account. Streampay can be setup for a single payment in years to come or a set schedule of payments over time, with set amounts, or percentage of balance and more options.

When you create a streampay you will need to set the variable options, the ones highlighted in red are required. You will also need to set the percentage to be sent if using a percentage based distribution streampay, which will appear once streampay type has been set.

•   Streampay Type - Specific set amount or percentage based distro
•   Block Frequency - how many blocks between payments
•   ANNE ID Benefator - recipient account must have Alias and ID set
•   Funds Source - Owned acoount or streampay neuron fund
•   Max Payments - Max number of payments to be sent
•   Min Payment - Minimum amount paid for % distro streampay
•   Min Start Block - Enter a future block to start the streampay

The below example will walk you through the steps to create a streampay.

Start by clicking the launch button on the Annode and select Hypergraph Wallet.

Once logged in, click the streampay button. You can also click the Annkh icon in navbar.

Click New Streampay, give it a name and then click the create new streampay button

The streampay window will appear and the first selection you need to make is the type of streampay distobution, either a specific amount to be paid each payment or a percentage of balance. For simplicity and ease of understanding we will select a specific distro for the streampay example. Click the red Streampay type button and select the desired distribution type from the dropdown selector and then click the select this button.

Next click the red Block Frequency button and enter the desired block frequency. The minimum number of blocks between streampay payments is 10800 blocks, which equals 2 weeks based on 2 minute blocks. Once you have entered the block frequency, click the make ghost relon button.

Next click the funds source button and select the streampays source of funds. In this example we will select "the fund" which is the streampay neuron itself. Once the streampay has been created, it will then also need to be funded, and the funds will then be irrevocably frozen. This creates an immutable and unstoppable streampay that cannot be undone under any circumstance, once it is set and funds are locked, there is no going back. The other option is to set "Owner account" funded, which means your account will fund the streampay but you still have control over your account, so it is still possible to end the streampay by moving all coins from the funding account.

For this example, we will set a maximum of 10 payments, once the 10 payments have been completed, any remaining funds locked in the neuron will be returned to the funding account. Click max payments, enter the number of payments then click the make ghost relon button.

Next Add the Benefactors to receive the payments, this can be a single or multiple recipients. For this example we will select the main ANNE account, simply click ANNE-ID of Benefactor, search for or select the recipient ID, then click the select this button.

Next for this example, we will select a minimum starting block of 500,000, this will start the streampay on the chosen block height of block #500,000. Click min start block enter the desired block height for the streampay to start then click the make ghost relon button.

In This example, as we have chosen a specific amount distribution we will need to set that specific amount, which is set at the minimum 10,000 ANNE coins for this example. Click specific anne coins each cycle, enter the payment amount, then click the make ghost relon button.
Note: If using a % based distribution, you would need to enter the percentage to be sent, which would then calculate the amount to be sent at each payment.

Now this example is all set, you can review the details of the streampay. If there are any mistakes, click the delete ghost button, otherwise once reviewed you can proceed by clicking the update ghost to ANNE chain button. As you can see below, the example streampay is set to:

•   Specific Amount Distribution
•   Block Frequency to send a payment every 10,080 blocks
•   Streampay Source is the streampay fund
•   Total of 10 payments maximum
•   The Benefactor is A.N.N.E
•   The Streampay will start on block #500,000
•   Will send 10,000 coins each payment

Now simply click the confirm button to broadcast your streampay transactions.
IMPORTANT: As the funding source is the streampay neuron itself, after the streampay transactions have been confirmed, the required funds will need to be sent to the streampay neurons, where they are irrevocably frozen and cannot be unlocked once sent.

Now the streampay transactions have been sent, the screen will look as show below. As you can see the streampay balance is zero, once the streampay transactions are confirmed, go ahead and click the fund & freeze button to fund the streampay.
IMPORTANT: You MUST wait for the transactions to be confirmed before funding the streampay.

Now enter the amount to fund the streampay neuron. The example below you can see we will fund the streampay with 101,000 coins. Once you have entered the funding amount, click the project streampay button, to view the projected payment schedule.
Note: This step is not required if using owner account funded distribution.
IMPORTANT: You will need to fund the streampay neuron with sufficient funds to cover all payments and fees to ensure all payments are sent. You can add more funds later, and any remaining coins will be returned to sender when the streampay is complete.

Review the streampay payment schedule, confirm everything is correct then click the Fund & Freeze button. As you can see in the exmple the streampay will start at block #500,000 and the first payment will be sent at block #510,800.

Click confirm to send the funding payment, once confirmed the streampay is set.
IMPORTANT: For neuron funded streampays, at this point the streampay cannot be undone.

Streampays are immutable scheduled payments on Layer One, once a streampay is set it cannot be undone, it cannot be cancelled manually. However there are conditions that will end the streampay, these are the only reasons a streampay will end.

• A % based distro fund has insufficient funds to meet the minimum payment amount.
• A Specific based distro fund has insufficient funds to meet the specified amount.
• The set maximum number of payments have been fulfilled.

Note: If a streampay is setup with Owner account fund You will still have control over that account, if all coins in that account are moved, resulting in insufficient funds to fulfill the streampay, the streampay will end. This differs to Streampay funded streampay, where the streampay keyless neuron is funded after creating the streampay, where those funds are irrevocably frozen to fund the streampay till it ends.

This is a new feature that was developed recently and added to Layer One, but is yet to have the GUI app developed. What this feature does is allow a user to create a special IID owner account funded streampay however they would like, set with a future start date. To make explaination easier, we will assume this future date is 1 year ahead, Once the IID streampay has been created, the IID streampay will be scheduled to start in 1 years time. If at any time during that 1 year period, the creator of the IID streampay broadcasts a proof of life transaction, the IID streampay will reset its schedule and reschedule the IID streampay to again start in 1 years time. Each and every time a proof of life transaction is broadcast, the IID streampay schedule will reset. This will allow for movement of coins in the event of ones death or if the IID streampay creator becomes incapacitated or is unable to access their account for whatever reason. This ensures you can move coins to your loved ones after such an event, without any manual action being needed by anyone, and nobody will need access to your current private keys or seeds.

IMPORTANT: The proof of life transaction will be a specific transaction connected to a the IID streampay, your account simply being active will not have any impact on the IID streampay schedule, you will need to broadcast a specific POL transaction, but do not worry we will have a simple button for you to press and then you simply confirm the transaction broadcast.

Note: This SPECIAL IID streampay is not yet available, you will not be able to extend normal streampays this way, although you can manually move all coins and create a new streampay.