On/off ramping dApp that seamlessly handles the end-to-end flow of moving Euro from a Bank IBAN (International Bank Account Number) to any ERC20 on any EVM chain and back (leveraging the Monerium and Li.Fi SDKs to ensure a smooth experience). The only fees that users pay are gas and bridging fees native to blockchain usage.
Background
- The Gnosis Ecosystem is developed by a world-class team renowned for launching transformative projects like Safe, Cow Protocol, Gnosis Pay, Gnosis Chain
- Gnosis' mission is to build a future where global payments are settled via community-owned, secure and open infrastructure.
- Need: Users encounter challenges when on/off ramping FIAT (especially EUR) to crypto, facing issues like poor UX, high fees, long settlement times, and lack of transparency. Hence Gnosis wanted to bring in the next-generation provider of seamless, lower fee, fast, on and off-chain ramping experiences.
- Our engagement to build uRamp with Gnosis was a natural progression of our long-lasting collaboration and shared vision.
- With over five years dedicated to developing key components of the Gnosis ecosystem, including DutchX, Omen, Safe, and completely revamping the Gnosis Chain Bridge, we've proven our role as a key contributor.
- The uRamp project represents an exciting combination of our expertise in blockchain and our commitment to advancing a more open and accessible financial future.
- LiFi and Monerium are amazing projects and teams contributing to the same goal.
It has been a pleasure bringing uRamp to live together with BootNode. Great team, professional approach, tight feedback loop and problem solving skills made project collaboration and execution predictable and enjoyable.
Stefan George
Co-founder and CTO at Gnosis
Engagement
Solution
- Together with Gnosis, we designed and built on/off ramping dApp that seamlessly handles the end-to-end operation of moving Euro from an IBAN to any ERC20 on any EVM chain and back (leveraging Monerium and Li.Fi SDK to ensure a smooth experience). The only fees that users pay are gas and bridging fees native to blockchain usage.
- Users can
- create a Web3 IBAN as part of the uRamp flow and swap EUR 1:1 for EURe, the fiat stablecoin issued by Monerium, and vice versa.
- on-ramp making a SEPA transfer to (almost) any token on (almost) any network.
- off-ramp from (almost) any token, on (almost) any network to any Bank account that supports SEPA transfer.
- The biggest challenge was to keep track of the whole flow (on and off ramp), connecting Li.Fi and Monerium process state, allowing the user to keep track of their transfers and resume at any step of operation.
- We laser-focused on providing the best possible on/off-ramp user experience. This was our primary goal.
Contributions
- UX/UI design, Front-end leveraging Monerium and LiFi, improvements to the Monerium SDK, Documentation, Promotion.
Outcome
- On/off ramping dApp PoC was delivered within 1 month, MVP within 3 months.
- uRamp brought in additional tx volume to Gnosis Chain.
- Within the first weeks hundreds of users started exploring the app and making transfers without going through the CEX experience (account creation, long time of settlements, high fees, and slippage).
- Improved Monerium SDK for a better Developer Experience.
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