Mecenas - recurring payment smart contract plugin

Today I would like to present you Mecenas, a plugin programmed by Karol Trzeszczkowski (@Licho) for creating and managing contracts for making transactions from the sender to the receiver with time and value restriction.

To use the plugin you must first download and install an excellent Bitcoin Cash wallet Electron Cash. How to use electron casch you can see in these Collin Enstad videos. Then download and install latest release (zip-file) of Mecenas.

To do it:

• Open Electron Cash with any wallet.

• Click Tools --> Installed Plugins.

• Click Add Plugin --> Select the downloaded zip file.

• Click Install --> Close.

• You should now see a new Mecenas tab in Electron Cash. It will be there for all your Electron Cash wallets.

Now you can create a new Mecenas contract (after clicking on the button you have to insert your password first).

Now you can enter the following:

• The BCH address of the recipient (protege address);

• Period how often the recipient (called protege) may withdraw the amount (in my example it is daily);

• How often the payment should be repeated (in my example 5);

• and how much BCH per payment should be paid (in my example 0,0001 BCH)

Total contract value is greater than the total withdrawing amount because 0.00001 BCH are required per each withdrawing transaction.

Now you can find an existing Mecenas contract.

How can the receiver (protege) withdraw his BCH? To do it the receiver has also to install Electron Cash and Mecenas plugin and click on "Find existing Mecenas contract". A new contract will be found.

By clicking on "Take payment from pledge" the receiver can withdraw his BCH (in my example everyday 0,0001 BCH) from the pledge address.