What are CHAI Payments?

CHAI is a mobile payments application that allows consumers for online payment for purchases by simply linking their bank account. In other words, CHAI is a cryptocurrency token built on top of Ethereum platform and its current price ranges around $30.80. Chai has partnered with around 15 major local banks, providing best infrastructure of a payment gateway offering both secure, reliable, fraud-resistant and convenient transactions with merchants.

CHAI promotes Terra's Blockchain technology by mitigating the challenges with legacy payment systems and offering discounted transaction fees to merchants

Below graph shows the daily total volume of CHAI Payment transactions happened in Terra over the past 6 months. We can notice that there is a significant rise in volume around second week of September.

How does these CHAI Transactions Volume changed over the past 6 months?

CHAI Transactions usually follows the below sequence of steps while making payments to merchants.

• Consumer first connects his/her bank account with Chai and does a purchase using Chai.
• Since Chai creates and manages a wallet for Consumer, Chai uses the consumer's KRW to purchase KRT and sends KRT deducting transaction fees to the Merchant's wallet.

Here is the average monthly volume of CHAI Payment transactions captured in Terra over the past 6 months. We can notice that there is a significant rise in volume around second week of September.

This graph represents the total number of Chai payment transactions recorded on Terra ecosystem over the past 6 months and it has remained quite consistent across these 6 months period.

Here is the weekly average volume of Chai payment transactions in USD over the past 6 months and can infer that it has been raised around first week of September.

Similarly this weekly average volume of Chai payment transactions in KRT over the past 6 months will also show a peak raise around first week of September.

Conclusion:

As per the above visualizations and graphs, we could see that daily volume of Chai payment transactions are high in September 2021 compared to the recent 6 months.