Having access to the existing banking system is the biggest problem all crypto companies in the world are facing. Cashaa has solved it. Yes, you heard it correctly. Crypto-related businesses are underserved by banks and our goal is to create a hassle-free experience for any business wanting to join the crypto revolution.
Cashaa went live with UK current accounts with limits up to 1 Billion GBP of incoming funds through its FCA regulated partners. In less than 100 days after the platform went online, 562 businesses have registered on the platform to be on-boarded and herewith leaving their existing traditional banks.
This solution would have never been possible without our community members. As Cashaa is progressing with its product and became more than just a whitepaper written during the ICO boom of 2017, we decided to share our success from the business customers with all the CAS holders.
Cashaa Banking platform users can choose three different plans to enjoy the benefits of the Cashaa ecosystem and the staking reward. Starting from 50,000 CAS (Smart Value), 500,000 CAS (Premier) or 1,000,000 CAS (World Traveller). Staking started for products on 8th April 2019, but we had to pause on 7th July to start the CAS (BEP2) distribution. The staking will be again resumed on 10th August. The users interested in Cashaa’s personal account can stake based on their requirements.
As a UTILITY token, CAS enables its holders to access the Cashaa ecosystem:
- Access Cashaa’s crypto banking services with Mastercard.
- Full UK current account (like your regular bank account), we will just not shut you down for crypto activity.
- Up to 50% discount on exchange fees for converting fiat to crypto and vice-versa.
- Access to airdrops, seasonal discounts, trading competition and earning referral income.
- 25% of the fees collected from businesses will be shared with the Personal Users.
As we became one of the few companies in the industry with a working project, CAS utility is more than just staking tokens. We have decided to reduce the staking period from 12 months to 3 months to enable more people to access our services. However, ongoing staking is required to get the discounts and benefits. Once the user account is active it will remain active with the standard fees without any staking. Only 1,000 accounts will be given every month starting from Jan 2020 based on the date of staking.
|Burn||Bonus Distributed to Personal Users|
|First, 4 quarters (20%) starting from July 2019||5%||15%|
|Upcoming quarters until 100 Million CAS are burned (25%)||7%||18%|
|After 100 Million CAS are burned (25%)||0%||25%|
If, for example, between June and September, Cashaa collected a total fee of 2 Million CAS and had 20 Smart Value, 10 Premier and 2 World Traveller subscribers. The distribution will be as per the table below.
|The fee collected from businesses||Burn||Bonus Distributed to Personal Users|
|100,000 CAS||300,000 CAS|
|Smart Value||Premier||World Traveller|
|Plan Stake Amount||50,000 CAS||500,000||1,000,000|
|No of User Staked||20||10||2|
|Total Stake by plan||1,000,000 CAS||5,000,000 CAS||2,000,000 CAS|
|Total Stake Amount||8,000,000 CAS (8 Million CAS)|
|Distribution per User||1875 CAS||18750 CAS||37500 CAS|
* Reward per user = ( Bonus distributed to Personal users / Total stake amount ) x User tokens on Stake
Smart Value user= (300,000/8,000,000) x 50,000 = 1875
Premier user= (300,000/8,000,000) x 500,000 = 18750
World Traveller user= (300,000/8,000,000) x 1,000,000 = 37,500
Distribution date list:
|Period||Distribution and burning dates|
|1st Jul – 30th Sep 2019||3rd Oct 2019
*For users who stake between before 30th August will get the share from the fee collected from 1st – 30th September 2019.
|1st Oct – 31st Dec 2019||9th Jan 2020|
|1st Jan – 31st Mar 2020||2nd Apr 2020|
|1st Apr – 30th Jun 2020||2nd Jul 2020|
|1st July – 30th Sep 2020||8th Oct 2020|
|1st Oct – 31st Dec 2020||7th Jan 2021|
* More confirmed dates will be added later to this list
Rules and terms of STAKING:
There is a minor change in the staking process. As we have moved to the Binance chain, we decided to leverage some of the advanced features which can bring transparency in the staking process. Once this system is implemented, staked tokens will be publicly visible on the Binance chain. However, this will have no impact on those users’ benefits who have already made their stake. Please read carefully to know what you have to do based on your staking date.
- Staking will be done on the Binance network and all the stakes will be publicly visible on the Binance blockchain. Our developers are making sure that the staking process will be made very easy, without any complication.
- Users can choose the period to stake between 3 – 24 months, from their Cashaa account.
- Staking must be done before the first day of the quarter to become eligible for the benefit of the quarterly distribution. E.g. to be eligible for staking for the period of 1st July – 30th September you must have staked the tokens before 1st July 12:00 PM BST.
- The minimum staking period to activate your banking services is reduced to 3 months.
- To qualify for the waitlist for the banking services, your staking period must be until 31st Dec 2019.
- Staking for the complete quarter is mandatory to get the quarterly reward. The tokens will automatically get unlocked on the last day of the stake quarter.
- As per community request, we have updated the window time to renew the last stake, the window will last till the end of the 3rd day of every quarterly month. You need to have a minimum of 0.1 BNB to complete the process. Users can choose to stake for a longer duration to not miss the deadline. E.g.: Your last stake will get free on 30th DEC 30.12.2019 00:00:00 UTC, the deadline to stake again is until 3 Jan 23:59:59 UTC.
- Users who have already done staking using ERC20 tokens must log in and use the new staking option to get eligible for the staking period of June – Sep 2019 after 10th August. There is no change in reward structure, it is only required because CAS has moved from ERC20 to BEP2. We apologize for the inconvenience.
- Staking will be resumed for the next quarter on 10th August 2019.
I have made my stake before 1st July 2019, what do I have to do?
If you have staked your CAS for 12 months to get the banking services we thank you for your patience and your trust in Cashaa. We are glad to announce the following:
- Your stake will be now released on 31st Dec after which you can choose to stake again to get the quarterly rewards.
- Your place on the waitlist for your Cashaa account remains unchanged for you to become an early adopter of the next generation banking system.
- You are already qualified for the July – Sept 2019 staking benefit.
What happens if I stake on or after 1st September?
- Now you only have to stake until 31st Dec (1 quarter) to activate banking services into your Cashaa account.
- You do not have to wait 12 months for the release of your stake.
- You will be waitlisted for your Cashaa account and become an early adopter of the next generation banking system.
- You will be subscribed for the Oct-Dec 2019 staking or longer, depending on the period you have selected. Your stake will be released on 31st Dec, or you can choose to stake for a more extended duration to get the quarterly bonus every quarter.
I did not pay attention to Staking due to Chain migration news, can I still get any reward for the July-Sept period?
- You can stake before 30th August to get the reward share from the Fee collected between 1st Sept — 30th Sep. The users who stake after 30th August will be considered as part of the next cycle (Oct-Dec 2019).
Please remember that there are users who staked their tokens before 30th June to get the stake and product benefit from the start, on 8th April. Please do not raise a helpdesk ticket to know your reward status. Read this document carefully and follow the terms and conditions to understand your eligibility.