Kash - all-in-one station for the Defi platforms Kash - The perfect combination of Terra (LUNA) UST, Mirror Protocol and Anchor Protocol
Posted by Jack Vi on Apr 2nd, 2021
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In a very short time, the Terra ecosystem has conquered users with very intelligent steps. Terra not only creates a Layer 1 platform like Terra (LUNA) blockchain that developers can use to build their projects, but also launches end-to-end applications for users like Mirror Protocol or Anchor Protocol.
Projects "sponsored" by the Terra Ecosystem have achieved some success. What if Kash could combine the power of such applications? Read the articles below to learn more about the potential of Kash.
CONTENT OF THE ARTICLE
The piece of Kash in the Terra ecosystem
What is kash The problem that Kash will solve for the user?
checking account
saving account
Investment account
Advantage and partner of Kash
The Effects of Kash on the Terra Ecosystem
Summary
The piece of Kash in the Terra ecosystem
In the previous article I described the Terra Ecosystem in the article on Saturn Money. You can find and read it here. Today I'm going to talk about Kash and the piece of the project in the Terra Ecosystem.
Since Terra's inception, Terra’s strategy has been very clear: it is to create foundation apps and partner with many of the big players in the market to get the community back on their platform. Thanks to this, Terra doesn't have to spend time and effort building from scratch in a short period of time, but it still has quality projects on its foundation. Currently, the layers in the Terra ecosystem can be divided as follows:
Layer 1: Terra Blockchain.
Layer 2: anchor protocol, mirror protocol, TerraUST.
Layer 3: Spar Protocol, CHAI and coming here is Kash.
Kash is an application that works on Layer 3 and will be the platform that combines the power of the three most potential financial applications of the Terra ecosystem today, namely Anchor Protocol, Mirror Protocol and TerraUST.
For more information on the projects in layers of the Terra ecosystem, see Coin98 Insights.
Photo source: Coin98 Insights
What is kash The problem that Kash will solve for the user?
To join DeFi, users currently need a lot of work, from switching from fiat currency to stablecoin and further choosing the appropriate Defi platforms to join. During each such time, users have to go through countless unnecessary operations and incur a lot of fees. Not only is this inconvenient for users to participate in DeFi, but it is also a major obstacle for the community who are not yet aware of decentralized funding.
Because of this, Kash was born as an all-in-one station for the Defi platforms in the Terra ecosystem. Kash defines itself as a decentralized banking application that connects the traditional economy with the decentralized one.
Once you start using Kash, three types of financial products are used by default:
checking account
The current account is a Terra UST product. With the checking account, users can pay and do business with anyone anywhere. Upon registration, users will receive a completely free debit card at a location supported by Kash.
saving account
The savings account is a product of the Anchor Protocol. With the savings account, users can now interact on the DeFi market without having to worry about currency devaluations when they receive interest rates of up to 20% on UST. This is an impossible interest rate for users as currently traditional banks are maintaining negative interest rates or if there is interest the term must be up to 1 year, while Anchor users must have it. Can be withdrawn and used at any time.
Investment account
The investment account is a product of the Mirror Protocol. For me this is the most interesting product not only from Kash, but also for the Terra ecosystem. Everyone who enters the financial market is very interested in investing. So how great would it be if users with Kash Investment Account could invest in stocks, fund certificates and bonds right in their decentralized banking application?
Advantage and partner of Kash
Kash has a huge edge in the market when it comes to helping Kash's colleagues. First, it is the Terra ecosystem where Kash can leverage the power of very successful infrastructure and products from platforms such as Terra UST, Mirror Protocol, and Anchor Protocol. In addition, Kash is the first project to be funded through an audit by Terraform Capital - Terra Ecosystem Development Fund.
Next up is Intellabridge Technology Corporation, a company that specializes in delivering decentralized financial solutions to the marketplace with the advantage of a source of customers from large traditional financial institutions around the world. This helps Kash build a user community of large financial companies and institutions.
The Effects of Kash on the Terra Ecosystem
It seems that the Terra ecosystem is taking very smart steps when it comes to combining existing products and targeting users first, rather than just building the platform. Because of this, every application from the Terra ecosystem has a large number of users.
When the trio of Anchor Protocol, Mirror Protocol and TerraUST opens an unlimited portal in the decentralized financial market through which to invest, borrow money, save money, etc., Kash is a bridge for users looking to get into DeFi. My concern is not just that the community already knows DeFi and participates in it. What interests me is the potential of the community, unknown to the power of decentralized finance. What if only a small portion of your cash flow went to DeFi?
Summary
In my opinion, Kash is an application that is relatively similar to Swipe. An electronic wallet is also potential. What is special, however, is that Kash knows how to use the best products on the platform and integrate them into its application so that users can pay, invest and save in one platform.
I think that with such a strategy, Kash will successfully reach many users in one day.
Please look forward to Kash! Translation from: https://coin98.net/kash