What is Avici (AVICI)?

Deep Dive

1. Purpose & Value Proposition

Avici targets the disconnect between crypto ownership and real-world spending. Traditional crypto cards often require custodial wallets or lock funds, but Avici’s self-custodial approach lets users spend directly from their wallets while maintaining private keys. Its Visa cards work at 100M+ merchants, and virtual bank accounts enable fiat deposits via Wire/SEPA, auto-converted to stablecoins.

The project positions itself as a gateway for decentralized finance (DeFi) adoption, with plans for onchain credit scores and privacy-focused transactions (Avici Docs).

2. Technology & Architecture

Avici operates across Ethereum, Polygon, Optimism, and Arbitrum, allowing users to collateralize assets from multiple blockchains. When funding a card, crypto is locked as collateral, and transactions deduct from this balance in real time. The system uses decentralized price oracles to calculate collateral value and automates liquidations if collateral ratios fall below thresholds.

Recent upgrades reduced top-up times to 10 seconds for 10,000+ tokens, leveraging cross-chain swaps and Visa’s payment rails (Avici Tweet).

3. Key Differentiators

• Non-custodial design: Unlike competitors like Crypto.com or Binance Card, Avici never holds user funds.
• Multi-chain support: Collateral can be posted from Ethereum, Solana, and other chains.
• Community governance: 100% of protocol fees and upgrades are governed by AVICI token holders, aligning with its “by the people” ethos (Avici Tweet).

Conclusion

Avici reimagines banking by merging self-custody with mainstream payment networks, prioritizing user ownership over convenience. While its collateral model introduces complexity, it eliminates reliance on centralized intermediaries. Can Avici scale its infrastructure to rival traditional fintech while maintaining decentralized principles?