Kado is building a world-class payment infrastructure for stablecoins and Web3 worldwide, including Kado Ramp, Kado Pay and Kado Save.
What is GIFT?
Kado builds the world’s first payment infrastructure for stablecoins and Web3. It promotes access to and use of cryptocurrencies and eliminates the friction users and businesses face when integrating with Web3.
Card payments directly on Osmosis
A native fiat ramp in Osmosis provides a simple onboarding experience for Osmosis. With Gift, customers can use their bank account or cards to purchase axUSDC or OSMO in a single transaction.
Compare that to the current at-home experience, which can take up to eight steps:
- Sign up for a centralized exchange
- Send fiat money to exchange
- buy atoms
- Please wait to meet KYC and withdrawal requirements
- Create a digital wallet like Keplr
- Send ATOM to Keplr Wallet
- Transfer ATOM to Osmosis by IBC
- Exchange ATOM for OSMO on Osmosis.
This takes a lot of time, energy and transaction costs!
Thanks to Kado Ramp, new users can now easily join Osmosis and fund their accounts with more fiat capital.
Initially, Kado allows the purchase of USDC through Axelar, the canonical bridge of Osmosis, with axlUSDC shipped directly to your Osmosis address. Then it will allow direct purchase of OSMO by bank or card.
Kado builds a payment infrastructure and connects fiat and cryptocurrency payment rails to enable seamless integration with Web3. Kado partners with digital asset custodians and publishers of stable coins such as Circle USDC to exchange between fiat currencies and cryptocurrencies.
The user experience has been streamlined to make it easier to onboard new users with a simple, familiar interface and all the mechanics that go under the hood. When a user wants to buy OSMO in fiat, Kado uses the USDC equivalent and trades in the background using Osmosis’ OSMO-USDC pool, eliminating any complexity for the user. This is a major step forward for the Web3 access experience, integrating money directly into Osmosis itself, with no additional steps for the customer.
One of the unique features that sets Kado apart from other entries and exits is the ability for users to transfer their funds directly to a smart contract. This capability opens up a whole new design space. A notable use case for average users is adding liquidity to a swimming pool MSA or the purchase of an NFT in one click, directly from their bank to the metaverse.
In addition to entering LP positions and other smart contract primitives directly from fiat, Kado provides access to all tokens listed on Osmosis. Do you want to buy STARS with fiat? No problem ! Initially, Kado will be launched as its own site (app.kado.money), with the ultimate goal of creating a widget that can be integrated into multiple sites and applications. With regard to Osmosis in particular, Kado will be directly included in the Osmosis front-end in the future.
The two pillars of Kado are access and utility. Access refers to the seamless ramp that Kado provides to Web3. To enhance the utility of Osmosis, Kado brings a comprehensive real-world payment system, including merchant payment gateways. Osmosis users will also be able to transfer their assets to their bank accounts, or spend their assets (rewards or just their assets) at many merchants. Businesses and developers can integrate Kado’s fiat<> crypto APIs directly into their UX/platform, lowering the bar for other entities to integrate into Web3.
Gift is an essential part for Osmosis to overcome adoption barriers and quickly get more users on board. This is what the future of Web3 looks like. Users don’t have to figure out what’s going on behind the curtains. Gift will make it easier for users to open and use Osmosis.
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I am convinced that the coming years will be those of cryptocurrency and the metaverse. Passionate about the Tendermint Cosmos ecosystem and NFTs, I will share my knowledge. Co-founder of Stakelab.fr