Cask, the recurring money flow protocol, is expanding its capabilities to Avalanche to allow dApps and communities to accept recurring crypto payments.
Avalanche’s Contract Chain (C-Chain) is an EVM-compatible smart contract chain with thousands of transactions per second, sub-second finality, and low fees, making it an ideal platform for launching decentralized applications such as Cask. Since its launch in 2020, the Avalanche ecosystem has rapidly expanded and matured with various dApps that could use Cask’s payment rails for accepting recurring money flows.
- Smart contract automation — Chainlink keepers on Avalanche ensure that recurring money flow transactions keep happening.
- Stablecoin yield — Yield-generating protocols such as Beefy Finance allow users to earn a yield on their Cask balances (soon).
- Fast and inexpensive transaction costs — It’s what users expect.
- Oracles — Chainlink price oracles provide the necessary data feed on Cask assets.
- On-ramps — While not mandatory, having a fiat on-ramp streamlines the process for users to subscribe to services. With the integration with Transak, users can onboard fiat directly to their Cask wallet.
All of Cask’s recurring money flows are based on stablecoins and are denominated in $USDC. However, users can deposit, withdraw and fund payments with any of the stablecoins supported by Cask including USDC/DAI/USDT. Cask chose to use stablecoins for all money flows because they are open, accessible, inclusive, and have minimal volatility.
Cask is a decentralized non-custodial protocol for managing recurring money flows in web3. The Cask mission is to onboard web2 payment agreements into non-custodial alternatives in addition to providing web3 with sustainable business models. Cask is also building ways to interact with various web3/defi protocols automatically.
The Cask wallet acts as a combined checking and savings account. Funds are transferred into a yield-bearing account, and then those funds are usable in automatic money flows.
All information on the article is for reference only, this is not investment advice. Hopefully, the information that Avaxholic has gathered in the article will be useful to you.
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