The Interchain Lab Ep. 13 — Kado.Money (Welcome Back!)
The Interchain Lab (TIL) occurs biweekly on Fridays at 3PM ET (20:00 UTC) in the Osmosis discord lounge. On this episode of The Interchain Lab: Togg and Waterspinner from Osmosis Support Lab host a discussion with Jon and Mory from Kado to discuss recent updates since they were last on the show.
Jon: Crypto was always the most interesting thing I’d ever done… more than a year and a half ago I went full-time into crypto and have been building products for Kado ever since.
Why Use Kado?
Blockchain technology has led to the creation of a user-focused token economy — Web 3.0 — which has allowed for decentralized finance (DeFi) to emerge. Self-custody is essential for users to have complete ownership over their assets as it removes the need for third-party control. Unlike custodial entities such as centralized exchanges, noncustodial wallets (such as cold and hot wallets) allow users to have full control of their digital assets by giving them exclusive access to their private keys. Not your keys, not your crypto!
While centralized exchanges have faced insolvency and halted withdrawals, DeFi’s self-custody model limits access to the user alone, ensuring security and freedom of all digital assets. Kado aims to make it easy for both new users and crypto veterans to move funds between fiat and self-custodial crypto platforms seamlessly. By using Kado, users can remove reliance on third parties and transfer funds directly between their bank accounts and self-custodial wallets.
Mory: We are an on-ramp. As opposed to a custodial exchange, we’re not in the business of holding your assets. We’re in the business of allowing you to trade them for fiat.
With many fiat on and off ramping options, Kado sets itself apart by focusing heavily on their customers. The Kado team is continuously listening to feedback from users and building requested features. Kado also created loyalty and incentive systems to maintain and expand its userbase.
Jon: It’s really important for us to continuously engage with you as users and it’s also really important for us to think of ways to continuously incentivize your engagement with us.
Kado Updates and Alpha
A huge piece of news from Kado is the team is focused on integrating European bank transfers. They will begin with SEPA and Open Banking with more bank transfer options to follow. With some of the recent hostile crypto regulations being proposed in the United States, the Kado team is continuing to expand internationally. This will allow Kado to remain agile and dynamic in continuing to list assets and onboarding users on the global scale.
Mory: We’ve prioritized the European region as our next step but it’s with full intention that we go global.
The Kado team has also been working hard to add routers for instant finality of buying, selling, and swapping assets. This can be done from the Kado app. Mory provided a video example of how this is done and behind-the-scenes information at 21:49 of the show. Once a user is KYC’d, these transactions can now be finalized in only four minutes! The next goal of the team is to open up IBC transfers to simplify the fiat-onboarding process even further.
Jon: What this [routers] means to you as a user or a buyer is that we can now basically tap into on-chain liquidity for almost any Cosmos token through the Osmosis router.
Additionally, Kado partnered with LiFi and Squid Router to allow for asset swapping with no-KYC and instant finality. Kado will continue to work with their partners to expand upon this core engine and add more use cases. Several documents are available to developers who are seeking to expand and build upon the Kado infrastructure in their own projects.
Jon: We’re trying to build this into a way that’s easy to use, easy to integrate, and easy to build around. We’re going to work really close with different builders and partners to make some interesting use cases and the make it easy for you to do x y z.
Finally, dark mode was deployed for the app and our eyes’ greatly thank the Kado team for this feature.
Don’t Miss Out on Future Updates from Kado and TIL
Kado enables users from over 160 countries to buy, sell, and swap digital assets from 13 different blockchains including Bitcoin, Ethereum, and Osmosis. Stay updated on Kado by following their Twitter and signing up for their newsletter. Learn more about Kado by reading their research reports.
Enter the laboratory at Osmosis.zone, the first decentralized exchange powered by the Cosmos SDK and IBC. See our published lab reports at the Osmosis blog, our bench notes at Github and help plan future experiments in our Commonwealth
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