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The crypto economy deserves non-USD stablecoins. We are building the first capital-efficient DEX for onchain currencies. A new day starts now for Onchain FX.
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ViFi Labs
@ViFi_Labs
A decentralized stablecoin protocol that combines foreign currency, stablecoins & DeFi liquidity to enable businesses to realize the best FX rates at any volume
- Brazil’s FX market moves massive volume, around $8 billion traded daily. Local stablecoins could power on and off ramps, but without deep USD liquidity they stall. AMMs are not suited for this trade and here’s why 🧵
00:00 - Only 12 countries in the world use the USD as legal tender and while others informally accept USD at tourist zones, majority of people's lives are priced in their domestic currency. No BRICS country is dollarised, local stablecoins reflect everyday life for most of the world.
00:00 - We're excited to announce we've acquired @0xOneRamp ! The platform makes it easy for people to spend crypto for day-to-day purchases, blurring the gap between the complexity of stablecoins and fintech payments. Here's why 🧵👇🏽
- What if I told you that onchain FX works and could be 97% cheaper than existing onchain swap venues? In this post, we provide an overview of the ViFi mechanism design and breakdown the numbers of a swap for both the Nigerian Naira and the Trinidadian Dollar.
- Today we are pleased to release the ViFi Lite Paper! 🚀 🚀 🚀 Here's a quick thread about our core mechanism design and how they work to help users realize the full value of USD FX swaps onchain!
- Replying to @ViFi_Labs and @0xOnerampAfrica & LATAM are using crypto in a way that's massive, useful and impactful. Institutional stablecoin adoption in these regions has reached $540 billion annually, with over 60% representing institutional volume. “The OneRamp acquisition will help provide distribution and
- Replying to @ViFi_Labs and @0xOneramp@0xOnerampa leading cryptocurrency payment gateway in Africa, proving that cryptocurrency infrastructure can effectively reach new customers by making stablecoin payments to mobile money and bank accounts seamless. OneRamp has grown to operate across Kenya, Nigeria, Uganda
- Build onchain FX swap venues is what we’re all about. Glad to see more people speaking about this!
