Terminology
- Off/On-Rampers: Crypto rampers
- On-Ramper: Fiat-to-Crypto
- Off-Ramp: Crypto-to-Fiat
Problem
- Accessibility: Crypto rampers may be in licensed in various countries and jurisdictions. They may not cater for all markets. KYC documents differ (optional or required). Local currencies unsupported
- Cost: Crypto ramper fees vary. Variable or fixed; depending on user location and method of payment.
- Payment Method: Lack of local payment methods:
- Credit cards: Visa/MasterCard/Amex (Maestro in the Netherlands)
- Bank transfers: SEPA, ACH but niche payment methods exist e.g. Mercado Pago in Latin America, or iDEAL in the Netherlands.
- Integrations: Developers need crypto rampers to support platform inflow (mainly) and outflow. Crypto ramper fight each other for market share (→ revenue → profit).
- Perks: referral/commission/revenue/fee sharing; direct PRs to open-source github repos
Solution
V1
- Aggregate all rampers. Filter selection by: country, payment method
- SDK or API (maybe: frontend widget to showcase or easily integrate)
- On-ramp only
- Abstract API keys (seamless integration)
V2
- Insurance credit card coverage: Controlled environment by crypto ramper to hold on-ramped funds isolated until chargeback period matures (60 - 120 days).
- Example: user on-ramps USD → USDt, and then uses USDt for whitelisted activities (e.g. lend on aave). Users can trade against whitelisted tokens like USDc or ETH, which means if the credit card is charged-back, then they can convert it back into USD.
- 4337/web3auth enabled on-ramps: session or auth wallets (no wallet required, just SSO or browser session). Could potentially partner with a smart account wallet.
- Expand product services: Add optional product services on-top of the aggregator like onramper.com. Example: Insurance coverage using like Denota or Sardine.ai. Liaise benefits between Crypto Ramper and dApp, so that dApp can choose perks that benefit them. Example: revenue sharing model.
- Add off-ramping; DIY API keys for devs (optional).