In TradFi, we’ve come to rely on being able to easily subscribe to services, auto-invest, schedule peer-to-peer payments, and more. On web3, these types of transactions have been cumbersome to set up for developers. And for web3 users, they have relied on making manual transactions, which are inconvenient and, as a result, frequently forgotten.
There is a clear need for an automation layer for moving money on web3 that is convenient, secure, cost-efficient, and accessible. Until users have simple automation they have come to rely on, it will severely limit the adoption of web3. For this reason, Cask Protocol has focused so intently on building a common good protocol empowering money flow automation that will serve as a foundational layer for web3.
The Cask team has enabled two new automated money flows that include auto-investing on decentralized exchanges and sending recurring peer-to-peer payments on Polygon.
Auto-investing on DEXs
Cask released a simple, convenient, and cost-effective way to make recurring purchases of cryptocurrencies on decentralized exchanges (DEXs). Auto-investing on DEXs allows anyone to automate their crypto investing and dollar-cost average (DCA) into those cryptocurrencies they want to buy regularly.
Scheduled peer-to-peer payments
Cask’s new Peer to Peer money flow enables anyone to effortlessly send stablecoins to friends and family on a recurring basis from a non-custodial wallet. Whether you need to send funds to split bills, pay contractors, or help out family, the peer-to-peer money flow makes it simple to automate sending stablecoins on a schedule. Peer-to-peer money flows can be sent to any Ethereum address, and the recipient can access and transfer their funds from their Cask wallet anytime.
Why Polygon? Polygon’s scaling solutions have seen widespread adoption with 37,000+ applications that prioritize performance, user experience (UX), and security which will help with the mass adoption of the Ethereum platform. Polygon fully supports the Ethereum Virtual Machine (EVM) and WalletConnect. Fast transactions and low gas fees provide a great user experience. These features and benchmarks on Polygon allow Cask providers to offer a wide range of automations at a low price.
Enabling money flow automations Polygon will allow builders, creators, and communities to generate revenue and help the web3 ecosystem grow and onboard the next 1B users.
Cask’s money flow automation makes it easy for users, projects, and protocols to set up recurring transactions on Polygon. Ready to auto-invest in crypto on DEXs, accept recurring payments, or automate peer-to-peer payments? Try the Cask dApp.
Cask is a decentralized non-custodial protocol for powering money flow automation in web3. Money flows include NFT subscriptions, auto investing (DCA), recurring peer to peer payments, and automatic decentralized protocol interactions. Cask believes that automation is key to web3 adoption and is committed to building additional automations to bring value to web3. Learn more at https://www.cask.fi.
Polygon is the leading blockchain development platform, offering scalable, affordable, secure and sustainable blockchains for Web3. Its growing suite of products offers developers easy access to major scaling solutions including L2 (ZK Rollups and Optimistic Rollups), sidechains, hybrid, stand-alone and enterprise chains, and data availability. Polygon’s scaling solutions have seen widespread adoption with 37,000+ decentralized applications hosted, 1.6B+ total transactions processed, 142M+ unique user addresses, and $5B+ in assets secured. Polygon is carbon neutral with the goal of leading the Web3 ecosystem in becoming carbon negative.
If you’re an Ethereum Developer, you’re already a Polygon developer! Leverage Polygon’s fast and secure txns for your dApp, get started here.
Source : Coinwire