Marionette FinTech: Payment Gateway Module & Unification of Accounting Data Using Payment Interfaces

As a forward-thinking Chief Technology Officer (CTO), you understand that interacting with multiple financial service sources is essential for every business seeking growth and success. To optimize this process and ensure accurate and efficient communication with these services, the key lies in adopting Application Programming Interfaces (APIs) as the standard communication protocol. Our software’s core mission revolves around seamlessly integrating APIs from diverse financial service providers and unifying their variable formats into a single, coherent format. This unified format serves as the foundation for our accounting engine to process essential financial data, encompassing debits, credits, assets, liabilities, expenses, and profits. In this technical document, we will delve deeper into the ‘how’ of our solution and emphasize its critical importance in streamlining financial data integration.


The Significance of API-driven Financial Data Integration:

Our software’s primary objective is to streamline the integration of financial data from multiple service providers by leveraging APIs. This approach enables us to transcend the limitations of manual data handling, minimizing errors, and enhancing overall efficiency. By standardizing the communication through APIs, we can establish a seamless data flow between our systems and various financial services, fostering real-time updates and access to crucial information.


Unifying Variable Formats:

One of the key challenges in dealing with multiple financial service providers is the diverse range of data formats they utilize. Our software addresses this challenge head-on by unifying these variable formats into a single, consistent format. Through intelligent data mapping and transformation, we ensure that disparate data structures from different APIs converge into a standardized representation. This unification not only streamlines the accounting process but also facilitates accurate data analysis and reporting.


Empowering the Accounting Engine:

Our unified format serves as the fuel for the accounting engine, empowering it to process financial data with precision. By presenting debits, credits, assets, liabilities, expenses, and profits in a standardized manner, the accounting engine can efficiently carry out its tasks, such as generating financial statements, tracking financial performance, and ensuring compliance with accounting principles.


Realizing Data-driven Insights:

The unified format of financial data enables our software to unlock valuable data-driven insights for your business. With a coherent representation of financial information, our solution empowers your organization to make informed decisions promptly. Detailed analysis and reporting become seamless, facilitating strategic planning, budgeting, and identifying areas for improvement.


Ensuring Security and Accuracy:

As our software handles sensitive financial data, ensuring security and accuracy is paramount. The API-driven approach to financial data integration adheres to industry-leading security protocols, safeguarding against unauthorized access and data breaches. Moreover, by unifying the variable data formats, we minimize the risk of data discrepancies, ensuring that the accounting engine processes reliable and precise information.

The power of API-driven financial data integration is transformational for your organization. By embracing this approach, you gain access to an unlimited world of financial services, encompassing CeFi, DeFi, TradFi, and blockchain nodes. Our software’s unified approach to data integration empowers the accounting engine, fostering unparalleled efficiency and accuracy in processing debits, credits, assets, liabilities, expenses, and profits. Embracing our API-driven solution opens up a new realm of possibilities, where data-driven insights, improved decision-making, and heightened confidence become the cornerstones of your organization’s financial success. Embrace the power of API-driven financial data integration and unlock a future of limitless potential for your business.

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Inflated Expenses and Redundant Blockchain Transactions are Caused by CeFi Services Accepting Account-based Cryptocurrencies like Ethereum & ERC20 Tokens

Centralized FinTech services and merchants accepting account-based cryptocurrencies for deposits and payments are damaging the blockchain ecosystem.

The go to practices applied by business accepting deposits and payment in cryptocurrencies like Ethereum and its ERC20 tokens are plagued with wasteful collection practices. These industry norms overload the blockchain with millions of unnecessary transactions and cost the users hundreds of millions of dollars in service and gas fees. Do you think this is a problem worth understanding and solving?

Businesses accepting deposits and payments in popular account-based cryptocurrencies like Ethereum and its ERC20 tokens are at the root of this problem, but what takes place is not intentional. They are forced to be on the dark side. These businesses need to identify and credit every single transaction that was sent by each individual client as a transfer on the blockchain. This identification process creates millions of additional on-chain transactions, overloads the blockchain and drastically increases the price of gas.

This problem is found at every level of business from community dedicated services, to enterprises like Coinbase, Changelly, Trust Wallet and Binance. If you’re already in this business, you understand this costly pain point. If you’re considering getting into Blockchain FinTech as a service provider, you need to know this. Let’s discuss what’s being swept under the rug..

Our focus is on the original and most popular account based currency today — Ethereum and ERC20 Tokens, whose gas is paid in Ethereum. It is also the most expensive currency to send on the blockchain and Ethereum’s gas price can easily cost more than the transaction amount.

When it comes to identifying and matching a blockchain transaction to the user, let’s compare the differences between Ethereum and Bitcoin. Same as with Bitcoin transactions, Ethereum issues a unique proxy address dedicated to a single user and matches any deposit made to this proxy address to the user it was assigned to.

In the case of Bitcoin, it treats the proxy address as an extension of the parent wallet, allowing it to seamlessly receive the blockchain transaction via the proxy wallet, directly into the parent wallet.

Meanwhile Ethereum treats this proxy address as a newly generated wallet and in order to collect the funds from this proxy, the service provider has to perform another on-chain transaction, paying another gas fee for the transfer.

Now if you think it is redundant to perform two on-chain transactions for collecting 1 deposit/payment, it’s even worst with ERC20 tokens. With ERC20 tokens like USDT, gas is paid in Ethereum. This means that you have to send gas on-chain to the proxy address, pay gas for this on-chain transaction and then pay gas for another on-chain transaction to collect from the proxy address.

Let’s take a look at these two cases in more detail. In these examples we use the quite low historical averages for Ethereum and ERC20 gas prices recorded in May 2023:

– ERC20 Gas Fee ~65,000 gas limit / 84 Gwei (~$9.87 USD)
– Ethereum Gas Fee ~21,000 gas limit / 84 Gwei (~$3.18)

Scenario 1: ERC20 Deposit/Payment — 2 Gas Fees

1st Transaction  –  ERC20 Token is sent by user/customer as a blockchain transaction and received on a proxy address issued by a service/merchant. (On-chain transaction with gas paid by user/customer, but cost is not in this transaction example)

2nd Transaction  –  Service/merchant sends Ethereum to the proxy address on the blockchain and pays gas for this transaction ~$3.18 gas fee.

3rd Transaction –  Proxy address uses the Ethereum it received to pay the gas and deducts the gas fee ~$9.87 to send the ERC20 Token balance on the blockchain to the service/merchant wallet.

Conclusion: The service/merchant paid $13.05 in gas fees to collect the amount sent by the user/customer. Being the most common transaction type using Ethereum to pay for gas, this cost makes stable coin cryptocurrencies like USDT a rather expensive and inefficient option for transacting on the blockchain. Accepting 1000 daily deposits/payments in ERC20 will cost your business (2023 averages) ~$397,000 per month.

Scenario 2: Ethereum Deposit/Payment — 1 Gas Fee

1st Transaction  –  Ethereum is sent by user/customer as a blockchain transaction and received on a proxy address issued by a service/merchant. (On-chain transaction with gas paid by user/customer, but cost is not in this transaction example)

2nd Transaction –  Ethereum for the fee is deducted from this amount received on the proxy address to send the balance on the blockchain to the service/merchant wallet ~$3.18.

Conclusion: The service/merchant paid $3.18 in gas fees to collect the amount sent by the user/customer. At first glance this may seem like the more reasonable solution for accepting deposits and payments, but it is not. Unlike stable coins like USDT, Ethereum price comparison to USD is in a constant up and down. This fluctuation doesn’t allow for Ethereum to be an efficient payment method. Accepting 1000 daily deposits/payment in Ethereum will cost your business (2023 averages) ~$96,725 per month.

The only business solution is to reallocate the cost for collection to the end-user by raising the price of your products and service fees. But how do you account for the ups and downs in gas prices? If you’re a FinTech service business accepting regular deposits, how do you account for the collection fees associated with deposits? How do you feel about the fact that as many as 3 blockchain transactions are necessary for every single ERC20 token deposit/payment transaction? How does this reflect on the network and price of gas?

This cycle is costly and inefficient. It overloads the blockchain with unnecessary transactions, increases the price of gas and affects every party in the ecosystem, from businesses to consumers. With limited solutions at business disposal, this trend continues to grow as more and more users are shifting their trust into digital currencies. team believes that this is a problem worth solving, but we have to approach the solution as an industry by updating existing practices, outdated software and educating the end-user on best practices. As a team, we have a partial solution today, using our proprietary stack in combination with existing opensource software. Our goal is to build intelligent solutions and educate every layer of blockchain users, from businesses to their clients. FinTech Blockchain Software Seeking Artists & Creators to Help Ukraine & Modernize Charitable Donation Space

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TuneX is proud to support on the mission to help the people of Ukraine with a modern take on Charitable Donation Space. Inspired by Blockchain technologies,’s innovative approach empowers an ecosystem of collaboration between non-profit organizations, governments, businesses, influencers and everyday people.

YOUkrainian donation platform rewards human kindness with memorabilia rewards from musicians, athletes, influencers, public figures and corporate sponsors who share the same vision of a brighter future for Ukraine.

This ecosystem of giving is looking for Artists and Creators from around the world who wish to be a part of this movement. To be a part of our evolutionary solution, YOUkrainian asks you to donate art that can be tokenized as non-fungible tokens (NFTs) or physically awarded to donors who supported the same cause your donation will sponsor.

At TuneX, we are passionate about giving back to our communities and believe that everyone should share in this responsibility. We are thrilled about this project because it uses innovative technology to help people of Ukraine in this dire time.

We strongly encourage others within our networks – both individuals and organizations alike – to join us in supporting this important cause. Together we will do more! Hackathon Sponsorship Brings Light to Ukrainian IT Team – MasterScout

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Being an IT Company from Ukraine has been brimming with challenges since the war began on February 24th, 2022. Following 10 months of attacks on civilian infrastructure, the hum of electric generators became the soundtrack of Ukrainian struggle, as team attempts to regain access to the internet and electricity.

Since the start of Covid, our team adapted to working from home offices and as our company grew in the pandemic, software developers from 6 different cities joined our team. Today’s unavailability of electricity and internet, make daily stand-ups, coding sync-ups, scheduled meetings, mob programming and a ton of other collaborative practices a sought after luxury. No electricity = no computers. No internet = no communication.

Understanding the challenges in our personal and professional lives, Co-founders of Dutch startup MasterScout, contacted us in the first days of war and offered their support. With compassion for our struggle and trust in our expertise in financial technologies, continued to book us for software development sprints and played a big role in our team’s ability to build and create.

Today, with most of Ukraine in the dark, Masterscout brings light to Team by sponsoring a Coding Hackathon, split between core software improvements and finalizing the delivery of mobile applications for iOS and Android Markets.

Masterscout is a platform that allows fans to scout the biggest talents in football, invest in their virtual shares and build a real player-portfolio. Masterscout will launch its beta release in Q1 2023

The sprint sponsorship enabled us to relocate software developers to Lviv, Ukraine, a city close to the border with Poland. In a rented apartment, powered by an electric generator and uninterrupted internet connection, team is able to do what we love doing – working together as a team and CODING!



Interesting to talk about Marionette Software capabilities because we haven’t seen any limits.

From Digital Bank foundation, 9 Quick Swap Features, Investment Platforms, Crypto and Fiat Order Book Trading to Donation Platform..

We have yet to see a use case that we couldn’t adapt Marionette Software to and look forward to new challenges!