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Managed Solana Wallets
Managed Solana Wallets

Managed Solana Wallets

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Solana wallets are accessed by a private key, which grants total control over it. In web3 there is no fraud detection and no customer support in case you lose it! That means that a single private key holds total control over the funds of your business. To help mitigate this risk and to add utility, Decaf has a managed wallets feature.
 

Why managed wallets

A managed wallet unlocks the following features of the PoS:
 
Fee paying for customer’s transactions
Exiting users who may already have a crypto wallet and the right coin to pay for fees will probably not need this, but when onboarding a new user into crypto and helping them to make their first purchase, this is crucial, as they will not know that in order to execute a transaction they have to pay a fee and which is the right token to pay it in.
Existing crypto users may appreciate the nice touch, as their experience becomes seamless, not having to worry about paying a fee, and seeing a big green “free” text next to the fee amount.
NFT minting
Another nice use case this enables is minting free NFT POAPs or NFT discounts, as then they become truly accessible, being fully obtainable by anyone who just downloaded a Solana wallet.
In-Person on- and offboarding
As a merchant, offering easy on- and offboarding is essential for wider adoption, since a new user who just downloaded their wallet will not be able to acquire crypto that easily. Decaf brings a new way to onboard directly on the store itself!
Budgeting
You can create as many wallet as you want on the Decaf PoS, and assign them to a specific task! Therefore you can allocate the exact amount you want to spend on a certain service, like fee paying, NFT minting, or exchange services.
Ease of use
Decaf automates every transaction and makes the interaction with the Solana blockchain hassle-free
 
notion image
 

Enabling Solana payments

To enable Solana payments, you have to be logged in, have activated Solana payments and registered your receiving merchant wallet. The receiving merchant wallet will receive all the funds from selling products. Follow this steps to create a managed wallet:
  • Navigate to Settings > General and click on “Generate new” activate the “Add Solana Payments (USDC)” tab and enable “Allow Pay-On-Counter Payments”
  • After that, either create a new wallet with Google log-in, or paste an existing one and save the settings.
 
Enabling Solana payments

Creating your first managed wallet

To create a new managed wallet, you have to be logged in and have to have turned on Solana payments in the settings. Follow this steps to create one:
  • navigate to Settings > Wallet Management and click on “Generate new” under the “Add Solana wallet” tab
  • Fill out the name and description of the wallet. Then you’re done!
 
Creating a managed wallet
 

Setting up automatic balance alarms

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Only important if you want to pay for your user’s transaction fees!
We know you have more important matters than to worry about your fee-paying wallet balance. This is why when creating a wallet you can set up an automatic check for your wallet balance, so you can top up your wallet before running out of funds to pay for your user’s fees.
On the previous video, on the wallet creation screen you can select an email to be notified and the SOL and USDC amounts to watch out for:
automatic balance alarm
automatic balance alarm
Then, if your managed wallet balance is below the one you set, you’ll receive an email similar to this:
       automatic balance email
automatic balance email

Topping up your wallet

You can top up your wallet in various ways.
  1. Through our UI, when navigating to the wallet. You can select the blue top-up Icon and introduce the amount to top up. This will generate a QR code which when parsed by a Solana Pay compatible wallet (We recommend https://phantom.app/) will trigger a payment transaction directed to our managed wallet.
Topping up your wallet through the Decaf UI
Merchant wallet UI
Merchant wallet UI
 
  1. Through any other centralized exchange like https://ftx.com/, or https://www.binance.com

Managed wallet features

This section covers how to enable fee paying for payment transactions, NFT minting and in-person onramps (coming soon!)

Fee paying for payment transactions

To enable fee paying for the customer’s payment transactions, make sure you have created a wallet under Settings > Wallet Management that has enough funds, and then navigate to Settings > General to enable “Pay for transaction fees”
 
Activating fee payment
 
This is how customer’s transactions will look before and after having enabled fee paying:
Without fee paying
Without fee paying
With fee paying
With fee paying

Enabling NFT minting fee payment

when creating an NFT, you can choose to pay for the minting fees. (Don’t know how to create an NFT yet? Swing over to
Discounts & managed NFTs
Discounts & managed NFTs
to learn more!).
To pay for minting fees follow these steps:
  • Head over to Settings > NFT Discounts and create or edit one.
  • Fill out all the required data and watch out for the “Pay for minting fees” field. When active, you have to select a wallet to pay the fees with. Please ensure it has enough funds!
 
Creating a managed NFT
 
 

In-person fiat on and offramp

coming soon… ☕

FAQs

Which tokens do I need to pay for user’s fees?
You need the $SOL token to pay for your customer’s fees

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Did we miss something? Not to worry! Just email our support team at team@decaf.so ✌️