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Cask Protocol now Live on Avalanche

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Cask Protocol now Live on Avalanche, the recurrent money flow protocol Cask is extending its capabilities to Avalanche.

Cask Protocol now Live on Avalanche, whether you are a dApp, NFT projects, or community on Avalanche you are now able to start accepting recurring crypto payments or contributions.

To make the Cask protocol recurring money flow magic happen, they look for EVM chains like Avalanche that have:

  • 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 their integration with Transak, users can onboard fiat directly to their Cask wallet.

What can you do with Cask on Avalanche?

Cask is a decentralized non-custodial protocol for managing recurring money flows. Their flagship functionality focuses on payment flows (NFT subscriptions) between Providers and users. Providers create plans that specify the terms of the recurring payment agreement such as how much and how often.

Providers can also offer automated web3 discounts based on a user’s on-chain activity. Discounts can be triggered if a user holds an NFT from a defined collection or hold the minimum number of a specified token. Discounts based on NFTs will open up new opportunities for communities and brands to engage their users with ways to earn NFTs before receiving a discount.

Stablecoins serve as the foundation for all of Cask’s regular cash flows, which are all expressed 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.

For those who want an easy way to accept recurring cryptocurrency payments on their website, Cask offers a web3 checkout widget that can be quickly added to any webpage.

For developers who wish to integrate recurring money flows to their dApp at a much deeper level, Cask offers a robust web3 payments SDK, which includes extra features such as network functionality, which allows dApps to collect a portion of fees generated from transactions.

About Protocol

Cask is a decentralized non-custodial protocol for managing recurring payment agreements (subscriptions) between a consumer and a provider in addition to generating yield on held funds. Cask provides both consumers and providers greater assurances than traditional recurring payment processing systems

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SOURCE:

https://blog.cask.fi/nft-subscriptions-and-recurring-money-flows-go-live-on-avalanche-4a672ec150

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