Cask Protocol’s recurring money flows are now live on Aurora! Whether you are a dApp, NFT projects, or community on Aurora you are now able to start accepting recurring crypto payments or contributions.
Aurora is an EVM-compatible smart contract chain on the climate-neutral Proof-of-Stake L1 NEAR Protocol. With a high throughput, rapid transaction finality (~2 sec), and low gas fees (~$0.02) makes it an ideal platform for decentralized applications such as Cask. Since Aurora’s launch in 2021, the ecosystem has grown to include 150+ dApps that can benefit from using Cask’s payment rails for accepting recurring money flows.
What can you do with Cask on Aurora?
Cask is a decentralized non-custodial protocol for managing recurring money flows. Their flagship functionality focuses on payment flows (NFT subscriptions) between Providers and users. Providers create plans that specify the terms of the recurring payment agreement such as how much and how often. Since all subscriptions are NFTs, a provider can also decide whether they are limited in quantity or whether or not they allow transferability between parties.
Providers can also offer automated discounts based on on-chain activity. Discounts can be triggered if a user holds an NFT from a defined collection or hold the minimum number of a specified token. Discounts based on NFTs will open up new opportunities for communities and brands to engage their users with ways to earn NFTs before receiving a discount.
All of Cask’s recurring money flows are based on stablecoins and are denominated in $USDC. However, users can deposit, withdraw and fund payments with any of the stablecoins supported by Cask including USDC/DAI/USDT. Cask chose to use stablecoins for all money flows because they are open, accessible, inclusive, and have minimal volatility.
For those who want an easy way to accept recurring cryptocurrency payments on their website, Cask offers a Web3 checkout widget that can be quickly added to any webpage. For the user subscribing/contributing to a service, they can deposit funds into their Cask wallet as a funding source for the recurring payments.
For developers who wish to integrate recurring money flows to their dApp at a much deeper level, Cask offers a robust crypto payments SDK, which includes extra features such as network functionality, which allows dApps to collect a portion of fees generated from transactions.
With the bear/build market in full effect, it’s more important than ever for creatives, DAOs, dApps, and NFT projects on Aurora to consider adding money flows. Doing so will help web3 projects not only survive, but thrive.