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Dai Card: Transact instantly, cheaply, and securely in Dai

Grant Accepts Any Token

Last Update: 1 week, 4 days ago

CATEGORIES

Defi Wallets

CLR MATCH ROUND 6

413 DAI

CURRENT MATCH

ROUND

556 DAI
57 contributors

Your contribution goes a long way!

1 DAI contribution

+ 21 DAI match

10 DAI contribution

+ 36 DAI match

100 DAI contribution

+ 48 DAI match

1,000 DAI contribution

+ 54 DAI match

Next update : 4 minutes from now | Last updated : an hour ago

Description

{"ops":[{"insert":"The Dai Card application, a simple browser-hosted wallet, allows users to transact instantly, cheaply, and securely in Dai.\nSimilar to a physical debit card, users “top up” their Dai Card balance by depositing Eth (or Dai) directly to their Dai Card address, which gets instantly swapped into Dai and represented as USD in-channel. Users can withdraw their funds directly into Eth without needing to pay gas, dramatically simplifying the “cash out” experience.\nBecause the Dai Card runs on the Ethereum mainnet in payment channels, user funds are always self-custodied and can be exited regardless of the hub’s availability. Integrating Connext’s system into custom applications is also simple, requiring only a basic knowledge of Javascript.\n"},{"attributes":{"bold":true},"insert":"Why is it called a Card?"},{"insert":"\nJust like a debit card, you can top up your Dai Card with balance and spend it everywhere through your day. We want users to think of that experience as different from but complimentary to wallets where you typically store much larger amounts and transact less frequently. This way, wallets can also easily integrate Card functionality!\n"},{"attributes":{"bold":true},"insert":"Goals"},{"insert":"\nWe created the Dai Card for a few reasons:\n"},{"attributes":{"bold":true},"insert":"To solve the difficulty of doing fast, cheap, stable payments "},{"attributes":{"italic":true,"bold":true},"insert":"today"},{"insert":", in the simplest way possible without making too many trust concessions. By abstracting away the complexity of hosting your own payment channel hub, we’ve made integrating scalable Dai payments simple even for non-crypto companies."},{"attributes":{"list":"ordered"},"insert":"\n"},{"attributes":{"bold":true},"insert":"To quickly collect user data on running a payment channel hub. "},{"insert":"Hubs require complicated operational logic to balance the cost of keeping lots of value locked up in channels versus the cost of doing lots of onchain transactions. The fastest way to figure out how to minimize those costs was to incur them ourselves; instead of experimenting with theories, we just built it!"},{"attributes":{"list":"ordered"},"insert":"\n"},{"attributes":{"bold":true},"insert":"To show the community what is possible with channels"},{"insert":". Although payment channels have fallen out of the limelight in Ethereum lately, they are still the most well understood"},{"attributes":{"italic":true},"insert":", trust-minimized"},{"insert":", and stunningly effective scalability solution that exists today. We hope that community members who use the Card will be inspired to create their own projects using payment channels and hubs."},{"attributes":{"list":"ordered"},"insert":"\n"},{"attributes":{"bold":true},"insert":"To take the first mainnet step towards building a fully decentralized, stable payment network."},{"insert":" By hosting this hub, we incentivize ourselves to distribute our costs and risk ASAP. We also make sure that the backbone of our network is in Dai — which we believe is the best base currency for what we hope becomes the underlying payment infrastructure of the internet."},{"attributes":{"list":"ordered"},"insert":"\n"},{"attributes":{"italic":true,"bold":true},"insert":"Try it yourself:"},{"attributes":{"italic":true},"insert":" "},{"attributes":{"italic":true,"link":"https://daicard.io/"},"insert":"https://daicard.io"},{"insert":"\nThanks for supporting our works. We appreciate your little effort.\n"}]}

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