21 terms
Splitting
The everyday words of sharing costs in a group.
- Spliz (the app)
- Spliz is the group expense app that splits the bills and actually settles them. Trips, flatshares, dinners, events: everyone adds what they paid. Once the required approvals and funds are in place, every balance clears in a single transaction, in USDC on Base. Your money stays in your wallet until settlement.
- Net balance
- A net balance is what a person has fronted minus what they consumed, across the whole group. Positive, they are owed; negative, they owe. Settling means bringing every balance back to zero.
- Split
- A split is the rule that says how much of an expense each beneficiary takes: the same share for everyone (equal), a weight per person (shares), or a fixed amount (exact). Spliz supports all three, plus a draw.
- Draw
- A draw is a split where one person, picked at random by the app, takes the whole expense. Nobody stakes anything; the odds are equal and the result is visible to the group.
- Joint account
- A joint account is a shared bank account where money is pooled. Spliz is not one: everyone keeps their own money, and only the settlement moves from one person to another.
- Money pool
- A money pool collects money before an expense. Spliz does not collect upfront: one person fronts the expense and the group pays them back at settlement.
- Settle
- To settle is to bring every balance in the group back to zero in a single money movement. With Spliz, that is one transaction in USDC: everyone is paid, or no one is.
The money
What you actually send and receive.
- USDC
- USDC is a stablecoin issued by Circle, designed to track one US dollar and backed by dollar-denominated reserves. Its market price can vary, and its value in euros follows the exchange rate. Spliz uses USDC for settlement.
- Stablecoin
- A stablecoin is a digital token pegged to a stable asset, usually the US dollar. Its value is designed to stay flat, which makes it suitable for paying people back rather than speculating.
- Base
- Base is an Ethereum Layer 2 network with low transaction costs, built by Coinbase. Spliz settles on Base, which is why a settlement clears in seconds for cents.
How Spliz works
What happens when a group settles.
- Atomic settlement
- Atomic settlement clears every balance in a group in a single transaction. All balances move together, or none do, so there is never a state where some people are paid and others are still owed.
- Settlement vs tracking
- Settlement is the act of actually moving the money to clear a balance. Tracking only records who owes what. Spliz settles, it does not stop at a running tally.
- A Spliz
- A Spliz is a shared expense group for a trip, a flatshare or a night out. It records what everyone paid and each person’s share. It is not a bank account: payments require the necessary approvals and funds.
- Relayer
- A relayer is the service that submits the settlement transaction and pays the network fees. Because Spliz runs a relayer, users never need to hold the network's native token to settle.
- Gas
- Network fees (also called gas) are what it costs to process a transaction on Base. On Spliz you never pay them yourself: the relayer covers it, so you only ever sign.
- Guest mode
- Guest mode lets someone join a Spliz and take part without creating an account. They sign in later, when it is time to settle, and their place in the group carries over.
Your money stays yours
Why Spliz never holds your balance.
- Non-custodial
- Non-custodial means the service never holds your money. Funds stay in your own wallet, and nothing moves without your signature. Spliz cannot freeze, pool, or move a balance on its own.
- EIP-712 signature
- EIP-712 is an Ethereum standard for human-readable typed-data signatures. Spliz uses it to collect the required approvals of the exact balances before settlement. It is a signed consensus, not one person deciding for the group.
- EIP-2612 permit
- An EIP-2612 permit is a signature that authorizes a USDC transfer without a separate on-chain approval step. It removes the extra transaction users normally pay for before a token can move.
Less to work out. More to enjoy.