One transaction. Four gears. Wallet, Bulletin Board, Nostr, Notification Bot—working together.
María (Madrid) sends €100 to Elena (Caracas).
Isabel (Barcelona) provides BCH passively. Carlos (Maracaibo) cashes Elena out.
Total elapsed: ~4 h (most is Elena’s decision delay)
Total cost: €0.90 (0.4 % seller + 0.5 % merchant) vs. €5 (Western Union)
María opens the app, enters Elena#142, specifies €100. The app resolves Elena’s Cash Account on‑chain and creates a covenant template (€100 worth of BCH, 7 % buffer, 24‑h timeout).
The app then queries the bulletin board for BCH sellers accepting Bizum in the EUR→VES corridor. It finds three passive sellers. María chooses the cheapest: Isabel (0.4 %, good rating, Bizum).
María’s app sends an encrypted Nostr request (“Need payment details for covenant xyz789”) to Isabel’s bot. The bot validates the covenant, generates a unique reference (Elena#142), and replies with the bank details (Bizum phone number, concept, amount €100.40) in under a second.
María sees the payment instructions, taps “Open Bizum,” and pays €100.40 instantly.
Isabel’s Android notification listener detects the BBVA message (“Recibido 100,40 € … Concepto: Elena#142”), parses it, and matches it to the pending covenant. The bot creates a funding transaction locking €107 of Isabel’s BCH, signs it with limited covenant keys, and broadcasts it. Total processing time: ~2 seconds. Isabel is at work, completely unaware.
María’s app confirms the covenant is funded. Elena receives a push notification: “María sent you €100 in BCH.”
Elena’s phone buzzed four hours ago; she now opens Asgaya and taps “Claim BCH to Wallet.” The covenant releases the BCH to Elena’s address; the unused buffer returns to Isabel. Elena now owns the BCH.
Elena chooses “Cash Out” (she needs bolívars today). The app queries the bulletin board for BCH buyers near Caracas. It finds Carlos’s Grocery (0.8 km, 0.5 % spread, open). Elena selects it.
Elena walks to the store. Carlos’s bot has already detected her sell covenant and pre‑filled a cash‑out screen. Carlos counts 398,000 VES (400k VES less 0.5 %), hands it to Elena. Both sign on their phones. The covenant executes, sending Elena’s BCH to Carlos.
Elena then buys groceries worth 300,000 VES from Carlos’s store.
Carlos’s triple‑dip from this one visit:
Carlos’s wallet now asks: “Stabilize this BCH?”
Carlos chooses H€ (he knows EUR/VES rates, easier mental math). The app:
If pool exhausted: Carlos keeps BCH (graceful degradation). Existing H€ holders unaffected.
Carlos now holds stable EUR value. When he needs VES for rent next week, he sells H€ to another merchant or customer at current EUR/VES rate. Zero BCH volatility exposure.
Elena could have kept the BCH or spent it directly at the store. The end goal is that enough merchants accept BCH directly so recipients never need to cash out.
| Step | Duration |
|---|---|
| María creates covenant & pays | ~2 min |
| Isabel’s bot funds covenant | ~1 min |
| Elena claims BCH to wallet | ~2 min (after 4 h delay) |
| Elena walks to Carlos’s store | ~10 min |
| Cash exchange & shopping | ~8 min |
| Total active human time | ~12 min |
| Party | Out | In | Net |
|---|---|---|---|
| María | €100.40 | (remittance delivered) | –€100.40 |
| Isabel | €107 BCH locked | €100.40 fiat + €0.40 fee | +€0.40 |
| Elena | 2k VES spread | €100 worth of BCH → 398k VES | +€99.50 equiv |
| Carlos | 398k VES cash | 0.2564 BCH + 2k spread + 60k sales | +€12.4 equiv |
Total fee: 0.9 % vs. Western Union’s 5 %.
If Elena had spent BCH directly at the store (Option B), total fee would have been 0.4 % (Isabel’s seller fee only).
When recipients spend BCH directly at merchants, Asgaya has succeeded.
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