How on-chain Forex can help onboarding more users

Everything in crypto/DeFi is around the US Dollar (liquidity, yield etc.). That is a bad UX. But it is very complicated to challenge the US Dollar hegemony. In TradFi, Forex is used as a ramp to access foreign securities liquidity. In DeFi and crypto in general, on-chain Forex could be used to access USD's liquidity and yield! In TradFi, derivatives Forex are used for hedging currencies risk. In DeFi, on-chain derivatives Forex could be used to earn yield with USD while keeping exposure to any other currency. Therefore, on-chain Forex can scale liquidity and yield for any non-USD stablecoin! We have built an on-chain Forex market allowing to swap without price impact any non-USD stablecoins (EUR, CHF, BRL, CAD, NGN etc.) for USDC. This is used for onboarding user from any country (buy EUR stablecoin with EUR, and then leverage USDC liquidity to swap them for any asset) or for remittance corridor (send EUR to CAD, or CHF to BRL etc.). We will soon start building derivatives to hedge one's exposure to the US dollar, allowing to generate yield from any currency. We also partnered with Mt Pelerin for having a non-KYC 0-fee 1:1 fiat on and off-ramp. We will come to ETHcc with a gasless burner wallet and distribute jEUR (or jFRF, French Franc) to participants, that they can convert for real EUR or buy ETH with it.

SPEAKER

Pascal Tallarida

EVENT

EthCC[5]

Date

7/19/2022

CATEGORY

dApps & UX/UI

TYPE

Talk

LANGUAGE

EN

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