A Beginner’s Guide to Ethereum Scaling SolutionsRead on the DeFi Pulse Blog

Key Stats

Total Value Locked24H
in USD$12.8K0.0%
in ETH4.2 ETH+4.3%
in BTC0.3 BTC+4.4%
DAI Locked12.77K DAI0 DAI
% Supply Locked< 0.01%
Most Locked$DAI
Protocol Token-

Total Value Locked (USD) in Connext

  • TVL (USD)
  • DAI
  • All
  • 1 Year
  • 90 Day
  • 30 Day
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What is Connext?

Connext provides non-custodial layer 2 payment-channel technology that enables off-chain, instant payments with low (or zero) transaction costs, helping scale the Ethereum network and paving the way for use cases like micropayments. Focusing on user experience and adoption, Connext launched its own implementation - the Dai Card - in March 2019. The Dai Card hosts an Ethereum wallet in the user’s web browser. Users can load the card with Dai (or ETH, which will automatically be swapped for Dai). Once funded, the Dai Card can be used to send instant payments to any other Dai Card holder (or non-holder via a link that sets up a Dai Card and let the recipient redeem the payment). The Dai Card currently recommends $30 maximum deposit, and the sole payment hub is currently operated and collateralized by the Connext team. Connext launched its V1.0 and the Dai Card to showcase payment channel capabilities and gather user info to improve future iterations in development. Connext V2.0 and Dai Card on V2.0 launched in Sept 2019 and Oct 2019 respectively. v2.0 runs on Counterfactual’s framework for general state channels. Connext has no native token and currently charges no fee.

How to use Connext?

The Dai Card is currently the best way to use Connext. Just visit the site and click on your generated account’s unique avatar to make a deposit. Then you can send, request, or cash out your funds. You can burn your card from the settings page.