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Next update : 1 month, 2 weeks ago | Last updated : 1 month, 2 weeks ago



{"ops":[{"attributes":{"background":"transparent","color":"#000000"},"insert":"We're abstracting away Ethereum to provide borderless banking and financial services your grandparents would feel comfortable using."},{"insert":"\n\n"},{"attributes":{"background":"transparent","color":"#000000"},"insert":"The Problem"},{"attributes":{"header":2},"insert":"\n"},{"attributes":{"background":"transparent","color":"#000000"},"insert":"Ethereum and Dai enable anyone in the world to access borderless banking and financial services, but there's a few hurdles making these functionalities inaccessible to the average non-crypto user:"},{"insert":"\n\n"},{"attributes":{"background":"transparent","color":"#000000"},"insert":"It's hard to understand what cryptocurrency is and how it works"},{"attributes":{"list":"ordered"},"insert":"\n"},{"attributes":{"background":"transparent","color":"#000000"},"insert":"Private key management, using wallets, and sending transactions can be complicated"},{"attributes":{"list":"ordered"},"insert":"\n"},{"attributes":{"background":"transparent","color":"#000000"},"insert":"Converting from fiat to Dai to Chai/cDAI/etc. takes too many steps"},{"attributes":{"list":"ordered"},"insert":"\n"},{"insert":"\n"},{"attributes":{"background":"transparent","color":"#000000"},"insert":"Our Solution"},{"attributes":{"header":2},"insert":"\n"},{"insert":"By abstracting away the cryptocurrency aspect of each issue, we can build an app with both more functionality and a better UX than a regular bank. This will work as follows:\n\nUsers will login with "},{"attributes":{"link":"https://app.tor.us/"},"insert":"Torus"},{"insert":", which provides an easy to use key management experience that feels like a familiar, web2-like experience."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Meta-transactions will be used to avoid requiring users to obtain Ether for gas and to provide Venmo-like transfers between users"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"All user funds will be held in "},{"attributes":{"link":"https://chai.money/"},"insert":"Chai"},{"insert":" (ERC20 wrapper around Dai earning the Dai Savings Rate) by default."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Each user will have their own receiving address, which converts any Ether or tokens received to Chai and sends them to their Torus wallet. Not only is this a nice feature for crypto-savvy users, but it enables the use of fiat on-ramp providers that only support Ether."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Users will have the option to convert from Chai to other investments to increase their yield."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"All account values will be displayed to the user in their local currency, instead of being denominated in cryptocurrency."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\nProgress"},{"attributes":{"header":2},"insert":"\n"},{"insert":"\nWe began as a centralized solution to get things up and running and collect user feedback, and are in the process of moving to a non-custodial architecture. \n\nThe initial, centralized model is live on the mainnet at https://floatify.net and can be used today"},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"Development on the updated architecture is in progress and we are aiming to begin beta testing by the end of January."},{"attributes":{"list":"bullet"},"insert":"\n"},{"insert":"\nFeel free to reach out on "},{"attributes":{"link":"https://twitter.com/UseFloatify"},"insert":"Twitter"},{"insert":" or "},{"attributes":{"link":"https://discord.floatify.net/"},"insert":"Discord"},{"insert":" with any questions, comments, or feedback!\n"}]}

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