Setup your First Stream

Set up a payment stream (one or many) and pay recipients by the second.
In just 3 steps, you can create your first money stream. Set up a $1 stream if you want to try it.

How do Streams Work on Coinshift?

  • Create a single stream or up to 100 streams in a single transaction
  • Approve and execute the transaction
  • The stream runs indefinitely until you choose to modify or cancel the stream
Follow the below steps to set up your first money stream.
Step 1: Click on New Transfer (highlighted in the below screenshot).
Next, select the Safe address to stream funds from.
Once the Safe is selected, click on Stream Payout.
The Safe must be on a network supporting money streams (e.g. Polygon).
Step 2: The below screen will appear where you need to fill in the following details:
  • Pay using (Token type)
  • Pay to (Recipient Name and Address)
  • Amount
  • Rate (frequency of money stream Ex- weekly, monthly, or yearly)
As streams run by the second, a month refers to 30 days and a year refers to 365 days.
You may notice a few buttons (highlighted in the above screenshot) here using which you can perform the following activities
  • Add More- to add more recipients manually by giving the wallet address
  • Add from Contacts- upload recipient details from your existing Contacts section
  • Add Batch- to stream in multiple tokens
Fill in the recipient details required for the stream. Note that you can create streams with different rates i.e different streaming frequencies in a single transaction.
Once you are done, click on Next.
While setting the streaming rate as Yearly or Monthly, put enough value in the Amount field. An extremely small amount per year or month rounding off to 0 USDC/sec, thereby resulting in transaction failure.
A page summarising the transaction will appear where you can review the streaming details.
If there are no issues found in the summary, click on Create Proposal.
Step 3: A proposal will be created. A proposal is an off-chain transaction that can be approved in any order. Once approved, the proposal will move to the on-chain approval queue. Please note that the on-chain queue is sequential (i.e. transactions need to be executed in order).
Step 4: As with any transaction on the Safe approval queue, this transaction also requires approval/confirmation from a certain number of Signers (threshold) in order to be executed.
Once executed, you'll be able to see the transaction status from the History tab.