At the Atom Accelerator DAO (AADAO), our mission is to propel the Cosmos Hub forward by supporting unique projects that drive innovation within its ecosystem and bring the user experience to a whole new level.
In line with that mission, we’re thrilled to spotlight one of our grantees, Kado, and their innovative work in transforming the fiat onboarding experience for the ATOM Economic Zone (AEZ).
Introducing Kado
Kado is pioneering the development of payments infrastructure for Web3, aiming to ease adoption by simplifying access to cryptocurrencies. Their comprehensive suite includes On and Off-Ramp Widgets/APIs, and Fiat to Stablecoin Settlement Flows, all tailored for Cosmos assets.
On top of this, Kado is enabling new, innovative onboarding flows in Cosmos to reduce friction and streamline buying and selling tokens directly to Cosmos appchains, leveraging on-chain liquidity, IBC, and partners such as Osmosis, Noble, Circle, Axelar — and now the AEZ.
While other crypto on-ramps exist, they often fall short of providing a seamless Web3 onboarding experience. Kado’s approach not only addresses this gap but pushes the boundaries of what is possible. In an effort to further enhance the fiat onboarding experience for chains in the ATOM Economic Zone (AEZ), the AADAO has granted Kado $80,000 USDC.
Projected Impact
Prior to Kado, users faced a multi-step process to onboard fiat in the AEZ, involving centralized exchanges, fees, and multiple IBC transactions. With Kado now in place, it removes all these steps, enabling users to instantly move directly between their bank accounts and AEZ Consumer Chains in one seamless transaction.
Moreover, as more Consumer Chains are deployed in the AEZ, integrating payment and ramp services for each chain was becoming increasingly challenging. Kado’s unique structure allows it to efficiently support all Consumer Chains via its “on-ramp to on-chain liquidity” flow.
Finally, Kado is also providing OTC desk functionality, enabling large transactions of AEZ assets to reduce on-chain slippage and liquidity issues. This facilitates larger volumes entering the ecosystem and encourages more builders and users to join, thereby increasing liquidity and fostering a flourishing ecosystem.
All this to say, adding Kado support for the AEZ helps foster a vibrant ecosystem, drive value accrual for ATOM, and boost developer interest in the Hub.
A Cosmic Collaboration
Leveraging AADAO’s grant, Kado can accelerate the development and implementation of these fiat onboarding innovations. The collaboration focuses on the following key milestones:
- Grant accepted: Start development work;
- Noble USDC on-ramp to top priority chains: Neutron, Osmosis, dYdX, Kujira Provenance;
- ATOM/stATOM onramp to Neutron, Osmosis, Kujira, and a Noble USDC off-ramp from Neutron, Osmosis, dYdX, Kujira, Provenance;
- ATOM off-ramp from Neutron, Osmosis, Kujira, and onboarding/fee incentives.
We’re thrilled to share that Kado has already completed milestones 1-3, and is now on the last stage of milestone #4, coordinating with AADAO on “onboarding/fee incentives”. With all this progress made, users across the globe can already use traditional payment methods to buy ATOM and stATOM on Osmosis, Kujira, and Neutron via Kado’s app, and more!
Looking Forward
As we look forward to the positive impacts from this grant and its achieved milestones, we are excited about the potential of Kado’s initiative to reshape the fiat onboarding experience within the AEZ. AADAO remains committed to fostering innovation and supporting projects that drive the growth and success of the Cosmos Hub.
With Kado’s transformative solutions and our support, we are confident that the future of digital assets in the AEZ will be both seamless and impactful, paving the way for greater adoption and value creation within the Cosmos ecosystem.
Discover more about Kado on their website or follow them on X to keep up with the latest grant milestones.
Are you driving value to the Cosmos Hub?
Funded by AADAO, Kado is making major waves in the AEZ, putting your experience with the Hub first!
Are you building a project that could help drive value for the Hub? If so, be sure to check out our Funding Themes and apply for a grant today.
About the Atom Accelerator DAO
Atom Accelerator DAO (AADAO) is a governance-mandated DAO of the Cosmos Hub. We have been formed and mandated to drive value for the Cosmos Hub & ATOM, supporting initiatives that either directly create economic impact or produce value that can drive its growth. From this, our current primary mandates are public grants and venture grants.
Atom Accelerator’s venture arm, strategically invests in promising early stage web3 founders and startups both within and outside of the Cosmos Hub’s ecosystem. Offering expertise, guidance, and support as experts within the Cosmos ecosystem while driving value towards Atom.
In 2023, we deployed $3.8 million in grants to 39 recipients – resulting in, among other things – a $22m USD airdrop to the Community Pool, an AEZ Accelerator program to expand the AEZ, a successful hackathon with 42 project submissions bringing innovations to the AEZ – and many other key initiatives. Read about them in our 2023 Impact Report.
