Cask Protocol recently expanded its recurring money flows on the Avalanche network. The expansion allows communities and dApps to accept recurring cryptocurrency payments.
As an EVM-compatible smart contract chain, Avalanche’s C-Chain (Contract Chain) can support thousands of transactions per second. It proposes low fees and sub-second finality, providing an ideal framework for releasing dapps.
With such features, choosing Avalanche emerged as a natural choice for Cask. Ever since its inception in 2020, Avalanche has been expanding its portfolio with dApps. These apps can now use Cask’s payment solutions for accepting recurring payments.
Mike Machado, Cask Protocol’s Co-Founder, talked about the recent development. According to Machado, Avalanche offers quick and cost-efficient services with an active developer community.
Since Cask is laying the roadwork for the future of recurring crypto payments, it needs the help of partners like Ava Labs. Since the network shares a similar vision as Cask, the partnership will prove to be fruitful, added Machado.
Cask is looking for the following functionalities in EVM chains:-
- Stablecoin Yield: Yield-generating protocols like Beefy Finance help users to earn yields on the Cask balance.
- Smart contract automation: Avalanche uses Chainlink Keepers to ensure recurring money flow transactions can occur.
- Oracles: Chainlink price oracles on the network offer the required data feed on Cask assets.
- Quick and cost-efficient transaction costs: Such perks are expected by modern users.
- On-ramps: Fiat on-ramp unifies the process for customers to access services. Users can access fiat onboarding directly to the Cask wallet via the Transak integration.
Cask acts as a decentralized non-custodial protocol that manages recurring money flows. Its functionality focuses on NFT subscriptions and payment flows between users and service providers.
Using Cask, providers can create custom plans with the terms of the recurring payment agreement. Since every subscription revolves around NFTs, providers can also choose the quantity and transferability status between parties.
Features like automated Web3 discounts are also available on the platform. This feature assesses users’ on-chain activity to formulate discounts. Thus, its addition to an expansive network such as Avalanche is certain to create a substantial buzz in the market.