The Indra Capital Ecosystem — Part II— IndraX, YieldWallet.io and Airavat
Fiat onramps, Crypto chatbots and Staking services.
Howdy Everyone,
In Part I of this series we took a look at the core of the Indra Capital ecosystem, IndraDEX. Please give it a read if you haven’t already. In this part, we’ll take a deeper look at the other key pieces of the ecosystem, that when combined with IndraDEX, form the entirety of our platform solution.
The products that round out the ecosystem are
- IndraX, a crypto-fiat onramp and centralized exchange.
- YieldWallet.io, a staking-as-a-service provider.
- Airavat, a crypto chatbot.
IndraX
There are 2 key problems that need to be addressed in products outside IndraDEX.
De-Fi Island
While IndraDEX provides key infrastructure building blocks for a sophisticated financial system, it is only accessible to those already in the crypto world. Someone in the traditional financial world with fiat currency would have to jump through a few hoops to be onboarded into De-Fi and IndraDEX.
Significant non De-Fi value
There is a significant amount of value and important work being done outside of the key De-Fi ecosystems and Bitcoin, most notably on privacy. All of the cool stuff being built around De-Fi means nothing for some of these coins such as Monero or Decred.
IndraX is our centralized exchange (CEX) that will feature fiat-crypto onramps, spot trading, borrow / lend markets, AMMs (Automated market makers) and NFT markets and attempts to solve these problems in a few different ways:
Fiat-Crypto Onramp
The most obvious, is to provide our users with Fiat-Crypto onramps, that will allow them to exchange their US Dollars (USD) or Indian rupees (INR) for a Cryptocurrency that can onboard them into Def-Fi land: Ethereum, MATIC, Avalanche or Solana. Couple this with our fully-integrated crypto chatbot, Airavat: the user will be able to deploy these into De-Fi immediately without ever having to switch user interfaces (more on that in the Airavat section below)
Fiat-Crypto, Crypto-Crypto trading
IndraX will also support swaps of Fiat-Crypto and Crypto-Crypto, including tokens like Monero, Decred, Litecoin and others.
Liquidity staking
IndraX will support the staking of Cryptocurrencies like Decred to our staking-as-a-service provider, YieldWallet.io, by just depositing funds into custodial IndraX wallets (similar to Binance, Coinbase and others).
Additionally, we will issue staking users an equivalent amount of tokens (like iDCR or iXTZ) that are Indra Capital equivalents of Decred and Tezos, with 1:1 backing.
The idea is that a user can deposit funds and stake them, while getting access to our i* tokens that they can move around freely. These i* tokens can then be deployed into any De-Fi platform that accepts them as collateral, to execute a stablecoin borrow and yieldfarming, all while the original tokens are participating in Proof-of-stake consensus and earning rewards.
In a sense, we are introducing De-Fi concepts and liquidity to coins that may have little to no connection to De-Fi otherwise.
YieldWallet.io
YieldWallet.io is our Staking-as-a-service provider. We provide staking services for a number of high quality coins including Polygon (MATIC), Tezos (XTZ), Harmony(ONE) and Mina (previous Coda).
The problem we are trying to solve is to help passive holders of tokens who
a. do not have enough tokens to go it on their own or
b. are not technically inclined or tech savvy enough to run their own validators
We help them pool their tokens towards validators that we run to earn interest on their token investments. We take a small fee for providing the service, distributing the majority of the rewards back to the token holders.
We’ve grown organically and helped support a number of tokens. While YieldWallet.io in itself is an interesting business, the metrics could really start to take off when factoring in the delegation of IndraX custodial wallet balances to our validators. We believe this can grow our delegated capacity by 10x or even 100x.
Cloud wallets: There are a number of coins that require minimum stakes e.g. 160+ DCR ($17600) for a Decred ticket or 32 ETH ($100K+) to run an ETH validator. This is an unviable option for the small investor. However with YieldWallet.io, anyone even with a fractional ETH or DCR can earn rewards. Our Custodial wallets provide a mechanism that allows us to run ETH validators or buy DCR tickets by pooling resources.
Some metrics: To date, YieldWallet.io has over $9 million (and growing!) delegated to us across the Tezos, Polygon, Mina and Harmony ecosystems. This is completely bootstrapped with close to 0 marketing.
Airavat
In an ideal world, users should be able to perform a wide plethora of useful actions in crypto, from within the same user interface. They should not have to worry about DEX vs CEX, Fragmented liquidity, Custodial vs Non-custodial and so on. Most users just wish to be able to accomplish actions in the minimum number of steps, as quickly as possible.
Enter Airavat.
We determined that the best way to plug a user into various crypto platforms is via a chat interface. We’re building Airavat, a telegram chatbot that is fully integrated with IndraX, IndraDEX and YieldWallet.io. A couple of illustrative examples: A user with Indian rupees can
a. trade them for ETH, exchange ETH for MATIC, and then stake their MATIC on YieldWallet.io.
b. trade them for USDC or other accepted futures collateral like wBTC or ETH and open a short or long leveraged futures position on IndraDEX.
Both examples can be completed within the same UI, and within 5 minutes.
Even better, the user is interacting with 3 different services: IndraX, IndraDEX and YieldWallet.io to accomplish these actions, a fact that is completely transparent to them (as it should be).
Our vision for Airavat is to build it into a crypto swiss army knife: A multi-faceted crypto utility integrated into dozens of high quality platforms (think Aave, Compound, Sushiswap, Quickswap) enabling the provision of huge amount of liquidity and functionality to the user. We plan to integrate everything from cross-blockchain bridges, price oracles and token swaps to staking and voting functions within the platform.
Conclusion: Whole > Sum of the parts
We’ve all heard the cliche. However, we truly believe that our core De-Fi financial services infrastructure (IndraDEX) + fiat-crypto onramp (IndraX) + staking service provider (YieldWallet.io) all orchestrated together by our multi-purpose crypto utility chatbot (Airavat) will result in the delivery of massive value to all participants of our ecosystem and beyond.
Connect with us
We hope you enjoyed this post detailing our vision. Do let us know in the comments. If you’re interested in more details and participating in our token sale, please get in touch with me at gautam@indracryptocapital.io.
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Please leave your comments and questions about Indra Capital, YieldWallet, IndraX, IndraDEX, Airavat or anything else you’d like to talk about and we will be sure to get back to you.
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