Custodial vs Non-custodial wallet and about their scheduled payment

General
1

Is there auto debit of the amount from the non-custodial wallet like perawallet is possible ?

2

how would you like auto debit feature to work?

solutions might be

  1. Periodic payments (you can setup cron job to make the payments (generally not supported by any non custodial wallet, but you can export mnemonic and feed it to your cronjob))
  2. escrow accounts … if you want your service provider to take automatically some money from your account, you can send it to the escrow where only he can take it from

Or does the “auto debit” mean that you should get some algos automatically?

3

hi scholtz , can you give any idea about how we can use the logicSig signature delegation with the non-custodial wallets to sign a teal logic to use the recurring payments from non custodial wallets , ,
first let me know , is it possible ? and if possible then what is the way of using it ?

special thanks for your last response

4

hi

logicSig or smartSig (synonyms) is just the approval program which can let some set of accounts be able to take money from that specific account… hash of smartsig is the address of the escrow account. if anyone deposit it to that account any of allowed parties are able to take any assets from that account by signing with smartsig (there are many ways how to code the smartsig, this is one example)

if you create cronjob that takes money from this smartsig escrow account, you can do recurring payments…

there is no blockchain which allows time trigger transactions according to my knowledge, so you must use offchain app eg cronjob to trigger the onchain transaction

5

Hi scholtz,
Thanks for your last response .

Few questions I have

1- Once we have generated the logicSig for the delegation approval , what are limitations of using it?
2- Once we done the delegation , then what would be the next step to do the suture payments without any intervention of the private key of the user.
3- When I am passing the secretKey of the User to sign the LogicSig() then , we are getting error when I am passing the logicSig to sign the transaction istead of passing the secret key of the User . can you give the solution of it ?

6

@scholtz Typo is corrected