Exploring Chai Payments & Fees

CHAI Finance, dubbed as the Paypal with blockchain steroids, is a Seoul based mobile payments app that offers seamless payments experience for South Korean consumers & marchants. Using Chai is as simple as using a PayPal! Consumers simply add their bank account and start paying at their favourite store / website. They don’t need to deal any technical intricacies of using a blockchain / wallets but enjoy all the goodness of Decentralized Finance. On the other hand Marchants using Chai Finance pay lower transaction fees and their transactions are settled immediately through the power of Terra Blockchain. Chai is a win-win for both consumers and merchants.

In this post let us explore Chai ecosystem and see how many transactions are happening as well as how much fees are paid by merchants with the help of Flipside Crypto’s data warehouse.

Lets us start by understanding how much payments are settled by Chai Finance since its inception as well as amount of fees collected. All numbers you use in this post are in South Korean Won(KRW) currency and don’t be shocked when you see numbers in trillions!

Here is a dashboard that shows total amount of payments handled by Chai Finance since its inception as well as the Fees. Total transaction volume stands around 1.62 Trillion KRW and fees collected so far are 9.86 Billion KRW.