asgayapedia

Asgaya: A Bitcoin Cash Adoption Engine

đź“– Unfamiliar terms? See the glossary for definitions.

Send €100 to Venezuela for €0.50 instead of €5. No company. No custody. No KYC. Just five components working together.

Mission: Make Ourselves Unnecessary

Asgaya is a cheap, user‑friendly fiat on/off‑ramp for people and businesses underserved by both banks (5‑8% remittance fees) and crypto exchanges (complex UX, KYC, unavailable in many countries).

But the real goal is Bitcoin Cash merchant adoption. Every remittance creates demand for BCH‑accepting merchants, rewards them with a 0.5% spread plus product margin (~30% on the sale of products and services during the cash-out), and offers an escape hatch from hyperinflation. When merchants accept BCH directly, Asgaya becomes unnecessary. Success means we disappear.

The Five Gears

Gear What it does
⚙️ Wallet Where users hold BCH and establish identity (Cash Accounts replace phone numbers)
⚙️ Bulletin Board Where buyers and sellers find each other (NFTs on the BCH blockchain — anyone can read)
⚙️ Nostr How they coordinate payment details (encrypted P2P messaging)
⚙️ Notification Bot How it runs automatically (the killer feature — set and forget)
⚙️ Stability Layer How merchants protect against volatility (H€/HAu tokens backed by AnyHedge)

A Complete Transaction (€100 Spain → Venezuela)

  1. Wallet: María opens her wallet, enters Elena’s Cash Account (Elena#142).
  2. Covenant: MarĂ­a creates a covenant (smart contract) specifying the terms.
  3. Bulletin Board: The app queries the blockchain and finds a seller accepting Bizum.
  4. Nostr: MarĂ­a selects a seller and receives the payment instructions.
  5. Notification Bot: The seller’s bot detects María’s Bizum payment and funds the covenant.
  6. Recipient: Elena gets a notification and can claim BCH to her wallet or cash it out at a local merchant.

Cost: 0.5% (€0.50) vs 5% (€5) via Western Union.
Time: 5 minutes–4 hours vs 1–2 days.
Trust: The seller never locks BCH until paid. The sender has legal recourse if the seller ghosts.

There Are Only Buyers and Sellers

Role What They Really Are
Sender (MarĂ­a) BCH buyer (buys from seller to send)
Recipient (Elena) BCH seller (sells to merchant for cash)
Merchant BCH buyer (buys from recipient)
Trader Both (buys and sells for arbitrage)

The entire system is a bulletin board where buyers and sellers discover each other and execute trades via covenants.

Why It Works

Payment‑First Covenants. The seller’s bank notification acts as a notary; BCH moves only after payment is confirmed. Fraud is criminal, and personal payment information is traceable.

Volatility Buffer. Seller locks 107% (€107 for €100 trade). The 7% buffer absorbs typical daily swings. Unused buffer returns to the seller.

On‑Chain Bulletin Board. Listings are NFTs on the BCH blockchain. No central server to shut down. Anyone can read, anyone can post.

Notification Bot. Once the seller posts a listing, the bot watches the blockchain and bank notifications. No manual intervention needed — scale without effort.

The Merchant Problem: Post‑Cashout Volatility

After Elena cashes out at a merchant, that merchant holds BCH. If they need to convert to VES for rent in two weeks, they’re exposed to ±20% monthly volatility. Lose 15% once, they quit.

Solution: Optional stability tokens backed by pooled AnyHedge contracts.

Two Stability Options

Token Pegged To Why Merchants Choose It
H€ (Heuro) Euro Familiar unit, easy mental math, quick conversion to VES
HAu (How) Gold (XAU) Maximum protection, hedges ALL fiat inflation (EUR + VES), universal value

Mechanism:

  1. Merchant receives BCH from covenant cashout
  2. Wallet asks: “Stabilize as H€, HAu, or keep BCH?”
  3. If H€/HAu chosen and pool has capacity:
    • Creates standard AnyHedge contract (merchant shorts BCH vs asset)
    • Bull pool provides long side (leveraged BCH exposure)
    • Mints stability tokens (30‑day auto‑renewing)
  4. Merchant holds stable value, trades it for VES when needed

If pool exhausted: Falls back to BCH delivery. Existing tokens still tradeable. System degrades gracefully.

Why gold oracle is best: 24/7 global trading (LBMA, CME, COMEX), centuries of price history, $12T market cap (manipulation‑resistant). More reliable than any fiat/BCH pair.

Phase 0 capital: €3K unified pool (approved assets: H€, HAu). High merchant velocity (weekly VES conversion) means low capital lock. Supports ~80 merchants initially.

The hook: Merchants come for remittances (0.5% spread). Stay for stability (hedge hyperinflation without trusting banks).

Why Bitcoin Cash?

Low fees (~€0.002/tx), fast settlement, native covenant support (CashTokens), and a permissionless, global settlement layer. We chose BCH because it earned our respect.

Status: Phase 0 (Pre‑Launch)

Launch corridor: Spain → Venezuela (EUR → VES) — Q3 2026.
Current: Documentation in progress; stability tokens (H€/HAu) design validated.
Validating: Does the 7% buffer hold? Will merchants adopt stability tokens? Can bull pool scale?

Authors: Suso + Claude Sonnet 4.5 (Coordination) + TightDS (DeepSeek)
Updated: 2026‑06‑28

🏠 Home 📖 Glossary

In this section:

Related sections: Implementation · User Journeys · Why This Design? · Unknowns

This site is open source. Improve this page.