Becoming a Canza Agent

Baki is the first scalable on-chain implementation of African stablecoins designed to mitigate the scarcity of dollars in emerging markets while offering access to dollar markets with no slippage and at the most competitive rates. Our previous article discussed the trajectory of the Hawala system (an informal and traditional method of transferring money or value between individuals and businesses), its present less-serving relationship with the traditional banking system, and the endless possibilities proposed with the integration of Baki.exchange

The Baki advantage

With the existing model; Hawala agents make a buck from price movements and transaction fees when remittances occur, but as underscored in the previous article, the current fusion with the traditional banking system has its drawbacks on this model.

It is not enough that inflation eats away at idle capital (even in USD), there are transaction caps for FX transactions ($10,000 per month in Nigeria) and high transaction costs.

Baki offers a model that provides yield on idle capital; generated from trading fees while holding zTokens, and seamless swaps between on-chain African stable currencies (pegged at a 1:1 ratio) called zTokens. This provides the ability to carry out on-chain FX trades between zTokens and benefit from price movements at the best rates. Baki, like all Canza finance offerings, is an entry into the Canza ecosystem.

Every Baki Agent automatically becomes an on-ramp channel into the Canza ecosystem for businesses and individuals seeking to leverage Canza systems. The agent benefits from transaction (fiat to crypto) fees and is exposed to a wide range of Baki users and a connection of Baki agents.

How does a Hawaladar or an FX agent become a Canza Agent?

Most Hawaladars are Blockchain savvy, this is the prerequisite to becoming a Canza Agent;

At the time of this publication, Baki is on Avalanche Fuji testnet, we have provided Test-USDC to enable users to test and get familiar with our systems pre-mainnet.

• visit baki.exchange
• Claim test USDC
• Mint zUSD (at 150% collateralization ratio. Learn more) and earn commission from transaction fees
• Trade on-chain African currencies at official rates

Ensure you provide feedback on your experience with Baki on testnet, and keep an eye out for our campaign with Nodo. We are focused on building products that offer solutions to tangible problems across the African continent and we are glad to have you take these first steps with us. Follow us on our socials for product updates and announcements. You are a Canzian Agent now and we are happy to have you.