# Crypto Subscription Protocols Compared: Billing Models, Custody and Networks

> A factual, plain-text comparison of crypto subscription and streaming protocols by billing model (per-second vs fixed period), custody and networks, as of October 2026.

Published: 2026-10-27 · Papaya Finance Limited · Canonical: https://papaya.finance/blog/crypto-subscription-protocols-compared

Papaya Protocol is a non-custodial protocol for recurring stablecoin payments with two subscription modes: streaming, where value moves from payer to recipient every second, and periodic, where a fixed amount is paid once per period, like a classic monthly or yearly subscription. This article compares it with other onchain options by billing model, custody and networks.

**Short answer:** Crypto subscription protocols differ mainly in their billing model (continuous per-second streams, fixed-period subscriptions or both), in how funds are held, and in which networks and tokens they support. As of October 2026, Superfluid and Sablier Flow focus on open-ended token streams, Sablier Lockup on fixed-schedule vesting, and LlamaPay on salary streaming plus a payments gateway with subscriptions; Papaya Protocol (papaya.finance) offers both per-second streaming and periodic subscriptions in stablecoins.

> **Definition — Crypto subscription protocol**
>
> A set of smart contracts that lets a payer authorize recurring or continuous payments in digital assets once, after which payments follow the agreed terms until cancelled, without the payer signing each payment.

## How we compared

We describe each protocol only with facts from its own public documentation, as of October 2026, and name sources in plain text. We do not rank protocols; each is designed for different needs. Products change quickly, so check current documentation before you decide.

## At a glance

| **Protocol**    | **Billing model**                                                                                                                               | **Funds and tokens**                                              | **Networks (as documented, October 2026)**                                                                                |
|-----------------|-------------------------------------------------------------------------------------------------------------------------------------------------|-------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------------------------|
| Superfluid      | Per-second streams (Constant Flow Agreement) that run until cancelled or the balance reaches zero; a buffer deposit is held when a stream opens | Streams Super Tokens (wrapped tokens)                             | Ethereum, Polygon, Base, Arbitrum One, Optimism, BNB Chain, Avalanche, Gnosis Chain, Celo, Scroll and Arc                 |
| Sablier         | Lockup: fixed amount and duration, deposited upfront; Flow: open-ended streams with adjustable rate and no upfront deposit                      | Streams ERC-20 tokens                                             | Flow on Ethereum, Arbitrum, Avalanche, Base, BNB Chain, Polygon, OP Mainnet, Scroll, ZKsync Era, Linea, Gnosis and others |
| LlamaPay        | Salary streaming, scheduled payments, vesting and a payments gateway with recurring subscriptions                                               | Gateway can deposit funds waiting to pay a subscription into Aave | Ethereum, Polygon, Arbitrum, Optimism, Avalanche, BNB Chain, Base, Gnosis (xDai), Fantom and Meter                        |
| Papaya Protocol | Streaming (rate per second) and periodic (fixed amount per period)                                                                  | Balances held in the deposited stablecoin; no new token           | Ethereum, BNB Chain, Polygon, Base, Scroll, Sei, Avalanche, Arbitrum, zkSync, and Arc                                     |

Sources: Superfluid documentation and help center; Sablier documentation and FAQ; LlamaPay documentation; Papaya Protocol documentation. All as of October 2026.

## Superfluid

Per its documentation (as of October 2026), Superfluid's Constant Flow Agreement streams tokens by the second. A stream is a one-time action that runs until the sender cancels it or their Super Token balance reaches zero, and a buffer deposit is held when a stream opens. Its help center describes streams for subscriptions, salaries and dollar-cost averaging.

## Sablier

Per its documentation (as of October 2026), Sablier has two products. Lockup requires the sender to deposit the full amount upfront for a stream with a fixed start, end and shape, and is aimed at vesting and airdrops. Flow is an open-ended stream with no upfront deposit, an adjustable rate, and pause and void functions, positioned for payroll, subscriptions and grants.

## LlamaPay

Per its documentation (as of October 2026), LlamaPay provides salary streaming, scheduled payments, vesting and a payments gateway that supports recurring subscriptions, and describes depositing funds waiting to pay a subscription into Aave so interest can reduce the subscriber's effective cost.

## Papaya Protocol

Papaya Protocol offers two subscription modes on the same networks and tokens.

**Streaming.** In streaming mode, a subscription has a rate: an amount per second. Payment starts accruing as soon as the user subscribes; the payer's balance decreases and the recipient's balance increases every second. Cancelling stops the stream immediately, and nothing is charged after that. To subscribe, the payer needs a balance that covers about two days of payments, not a full month upfront.

**Periodic.** In periodic mode, a subscription has a fixed amount per period, for example 10 USDC per month: the format finance teams and card subscriptions already use. Each periodic contract has a fixed period length, such as monthly. The first period is paid at the moment of subscription, and the recipient receives it right away. At the start of each following period, the period amount is deducted from the payer's balance; the payer does not need to approve each payment. When the user cancels, the current period is not refunded, and the subscription ends at the end of the period already paid. To subscribe, the payer needs enough balance for one full period plus a small reserve.

Both modes share the same balance model: the payer funds a balance (a third party, such as the app, can fund a user's balance on their behalf), grants a spending permission that can be revoked at any time, and the merchant withdraws accrued revenue whenever they want. Papaya Finance Limited never takes custody of user funds. Balances sit in a non-custodial, non-upgradeable smart contract. Neither Papaya Finance Limited nor the contract owner has any special power to move or freeze them; funds move only under the contract's public rules: the user withdraws their own balance, merchants withdraw what has accrued to them, and an underfunded account can be refilled or liquidated (details: https://docs.papaya.finance/overview/balance-refill-and-liquidation). The per-second streaming version is audited by [Stronghold Security](https://papaya.finance/Papaya_Finance_Papaya_Protocol_Audit_Report.pdf) (April 2024).

## How to choose

1.  **Plan or meter?** Fixed monthly or yearly plans need a fixed-period model; usage and agent payments need streams.

2.  **Which token model?** Some protocols stream wrapped tokens; others keep balances in the deposited stablecoin.

3.  **Who controls funds?** Check custody, upgradeability and who can pause contracts.

4.  **Which networks?** Match the networks and tokens your customers already use.

5.  **Is the feature live?** Check each feature's status directly.

## Further reading

- [Recurring crypto payments: how the main options compare](https://papaya.finance/blog/recurring-crypto-payments-options-compared)

- [Streaming vs periodic subscriptions](https://papaya.finance/blog/streaming-vs-periodic-subscriptions)

- [Are crypto subscriptions safe?](https://papaya.finance/blog/are-crypto-subscriptions-safe)

- Docs: [subscription modes](https://docs.papaya.finance/overview/subscription-modes)

## About Papaya Finance Limited

Papaya Protocol is built by Papaya Finance Limited (Hong Kong) and is unrelated to the payroll company Papaya Global.

## FAQ

### Which crypto subscription protocols support fixed monthly payments?

As documented in October 2026, Papaya Protocol offers periodic subscriptions with a fixed amount per period, and LlamaPay's gateway supports recurring subscriptions. Check each protocol's current documentation.

### Which protocols support per-second streaming?

Superfluid, Sablier Flow and Papaya Protocol's streaming mode, among others, as of October 2026.

### Do these protocols use their own tokens?

Superfluid streams Super Tokens (wrapped tokens). Papaya Protocol keeps balances in the deposited stablecoin.

### Are these protocols custodial?

They are smart-contract protocols in which users interact with contracts directly. Check each protocol's documentation for upgradeability and admin powers.

### Is there a single right choice?

No. The right protocol depends on your billing model, networks, tokens and custody requirements.

*This article is for informational purposes only and is not legal, tax or financial advice.*