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In MainContract, I need to perform an atomic transaction which includes the following:

  1. Transfer eth from Contract1 (which is an ERC20 contract) into a given address
  2. Change a state variable in Contract2

I'm having problem implementing the first part.

At present, what I have in mind is to add this in Contract1:

address public mainContract;

constructor(address _mainContract) public {
    mainContract = _mainContract;
}

function withdraw(address _to, uint256 _value) external {
     require(msg.sender == mainContract);
     _to.transfer(_value);
 }

And then to call function withdraw from a function in MainContract:

function execute(address _to, uint256 _value) external {
     require(msg.sender == owner);
     contract1.withdraw(_to, _value);
     contract2.update();
 }

But since Contract1 is an ERC20 contract, I was hoping there would be a cleaner way.

Given that I'm the owner of all contracts here, is there a way for me to directly transfer eth from contract1 to the specified address _to?

Something like _to.transfer(_value, {from: address(contract1)}) perhaps?

Thank you!

Note: The reason why I've mentioned the second part (contract2) here, is because otherwise you could tell me something like - "well, just do it from the offchain and get it over with". I need both operations to take place within a single transaction, in order to make sure that nothing else happens in between.

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Currently, there’s three main issues with recurring crypto payments or pre-authorized payments in your case.

  • Volatility. Accepting 1ETH/BTC is not suitable for any merchant. Trying to program stability into smart contracts also comes at the cost of decentralisation.

  • User Experience. Pooling money upfront into a smart contract is bad user experience and also requires you to have more money than you have on hand.

  • Scheduling. You can’t have a smart contract call itself at a later point in time.

8x Protocol aims to solve these issues through:

  • Use of stable coin such as MakerDAO to solve volatility. 1 DAI = $1 USD.

  • Usage of ERC20 approve function to allow funds to be taken directly from your wallet. Think: direct debit but for crypto.

  • Network of decentralised nodes who are incentives to trigger the payment at the time that it’s due.

We’re still developing our codebase at: github.com/8xprotocol, although you can find out more about how we’re solving the recurring/subscription crypto payments problem via the Ethereum blockchain at: 8xprotocol.com

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