Chiss Protocol ❄️

Permissionless on-chain FX market for seamless earning, borrowing & affordable global trade. Built on @avax 🔺

[Chiss Protocol ❄️ @ChissProtocol]

Two years ago we set out to build a new money layer for FX markets on Avalanche.

Today we want to talk about;
✦ what we actually shipped,
✦ what we decided, and
✦ where everything goes from here.

↓ 🧵

[Finna 🟢 @FinnaHQ]

The team behind @ChissProtocol is now fully here.

18 months of infrastructure work. A full FX dApp live on @avax Fuji. One clear-eyed decision to put everything behind the product already in the market.

@FinnaHQ. Stablecoin rails for Africa. We are just getting started.

[Chiss Protocol ❄️ @ChissProtocol]

The Chiss chapter is closed. The mission continues.

Follow @FinnaHQ for what comes next!

10/

[Chiss Protocol ❄️ @ChissProtocol]

Two years ago we set out to build a new money layer for FX markets on Avalanche.

Today we want to talk about;
✦ what we actually shipped,
✦ what we decided, and
✦ where everything goes from here.

↓ 🧵

[Chiss Protocol ❄️ @ChissProtocol]

To the Avalanche ecosystem, everyone who tested the dApp, gave feedback, supported the vision, or believed in what we were building:

Thank you. The work was not wasted. It became the foundation for something stronger.

The @Avax relationship continues through Finna.

9/

[Chiss Protocol ❄️ @ChissProtocol]

@borjaneira_ Collateralizing non-USD stables with a more global asset, gives them a better chance of breaking through, structurally, yes?

[Chiss Protocol ❄️ @ChissProtocol]

@aadith_gbd @0xcoconutt This won't be happening.
One reason, why local stablecoins will blossom.

[Chiss Protocol ❄️ @ChissProtocol]

@maybeltr @0xcoconutt Another important angle to consider.
As non-USD stables grow, global USD stables would have to penetrate regulatory firewalls to find adoption in different regions.

[Chiss Protocol ❄️ @ChissProtocol]

@echulshin @0xcoconutt You make a good point ser.
Very possible to start to see a pattern where local stablecoins depeg from the underlying fiat, as a result of more sell or buy pressure (if price is not anchored by FX oracle data).

[Chiss Protocol ❄️ @ChissProtocol]

@artemis There's this Russian ruble-pegged stablecoin, that seems to be garnering massive supply, Ya heard?

[Chiss Protocol ❄️ @ChissProtocol]

@borjaneira_ @paddi_hansen Another interesting narrative.
Users seem to not fancy regulated stablecoins or regions.

USDT thrives over USDC, in value parking, because of this.

Can non-USD Stables emerge without heavy regulation on it? This is a critical consideration.

[Chiss Protocol ❄️ @ChissProtocol]

@basq0x Zoom out! 🔍

[Chiss Protocol ❄️ @ChissProtocol]

@ajbanon Another angle. ❄️
Regulatory defence against dollarisation.

[Chiss Protocol ❄️ @ChissProtocol]

@njokuScript Well, said.
Inflation hedge, is just one Utility (and USD is not the best at it.)

Cross-border payments are another.