Please describe your proposed solution

How do you perceive the problem you are solving

A user only needs to provide their IBAN and a wallet address. After the first transfer, the wallet address will be assigned to the holder of the bank account. Transactions below 1000€ do not necessitate a Know Your Customer (KYC) process. Upon successful registration, users receive transfer details along with a unique personal reference code. This reference remains valid indefinitely and can be used from any bank account registered in the user's name.

Once fiat has been transferred to our specified bank account, various checks—including anti-money laundering measures and personal verification—are conducted. Upon successful confirmation of fund receipt, we promptly proceed to purchase ADA tokens on a centralized exchange. Subsequently, we securely transfer the purchased tokens to the user-provided address. In cases where discrepancies arise during checks, such as mismatched bank account holder details, the amount is refunded. If the transaction exceeds the KYC limit, the user is notified via email and requested to complete the KYC process. Failure to comply results in the amount being refunded.

Your reasons for approaching it in the way that you have

Our platform empowers users to buy ADA easily through bank transfers, eliminating the complexities and barriers associated with centralized exchanges. We offer this service with a small fee, ensuring that users maintain control of their private keys and don't need to place permanent trust in a third party. This allows purchases to be made conveniently and securely, anytime and anywhere.

Who will your project engage

Our aim is to cater to a wide spectrum of users, spanning from novices to experts.

• Novices: We aim to alleviate their apprehensions about self-custody, a crucial aspect that we're dedicated to guiding users through.
• Current users: Our goal is to provide a streamlined method for Dollar Cost Averaging (DCA) in ADA via automated standing orders, all within the realm of self-custody.
• Experienced users: Our intention is to empower them to introduce their families and friends to the crypto world effortlessly, incorporating the concept of self-custody.

Our vision extends beyond user accessibility, as we also seek to offer ecosystem projects a chance to directly market their products through our affiliate program and public interface.

• Projects like Book.io can facilitate direct purchases of $BOOK or their tokens through their platform using SEPA, eliminating the necessity for users to pre-purchase ADA from exchanges.
• Wallets like Begin, Vespr and/or Eternl can seamlessly integrate our services into their interface, simplifying ADA purchases for their users.
• Affiliates will receive a share of the revenue generated, with specific details forthcoming, encompassing various models.

How you will demonstrate or prove your impact

Our daily and monthly volume will be a reliable indicator to visualize our impact.

Explain what is unique about your solution, who will benefit, and why this is important to Cardano.

• Our approach streamlines access to the ecosystem by eliminating the necessity for central exchanges.
• Leveraging the widespread familiarity with bank transfers significantly reduces the entry threshold.
• Conduct transactions of up to 1000€ per user daily without requiring KYC.

Please define the positive impact your project will have on the wider Cardano community

SEPA credit transfers are a user-friendly and convenient method for the masses. The ability to buy ADA directly into your personal wallet via bank transfer offers an excellent opportunity to attract a whole new customer base. Users do not need to register with a crypto exchange and familiarise themselves with how it works.

We transform a regular standing order into a convenient method for Dollar-Cost Averaging (DCA) investments in ADA. With Instant SEPA, users can make spontaneous purchases around the clock and the process will be completed within a few minutes.

For projects, the integration of our service as a payment method is potentially an interesting way to gain new customers. Customers can pay for any offered service using their bank account, without having to have ADA or a credit card on hand.

We will gather anonymised, publicly accessible statistics on our sales volume. These statistics will help us further tailor the service to meet user needs and offer customers insights into ADA investment trends using our service. Regular publication of these statistics, once the service is available to the public, will provide ongoing insights into the service and its usage patterns.

What is your capability to deliver your project with high levels of trust and accountability? How do you intend to validate if your approach is feasible?

Andreas, boasting over 15 years of experience as a software developer, has already crafted the prototype over the past few months. Throughout the prototype's development phase, he actively sought out partners to allow him to maintain full focus on its refinement.

Tim Heidfeld, hailing from IAMX and holding the title of Certified European Financial Analyst (CEFA), brings his expertise in finance and identity to the forefront. His role is crucial in ensuring our operations comply with legal standards.

Andreas and Tim harmonize effectively, collectively possessing the diverse expertise needed for the development of a high-quality product.

What are the key milestones you need to achieve in order to complete your project successfully?

Milestone 1: Milestone outputs (Exchange)

Bank account monitoring ensures incoming funds are processed promptly, typically within a few minutes. Transfers are categorized based on their reception, guiding the subsequent actions.

Valid transfers prompt the purchase of the requested asset. By milestone's end, the ADA/CNT amount for the customer is determined, or alternatively, the transfer is flagged for reversal.

Acceptance criteria

After funds are deposited into our bank account by the customer, it is promptly determined the amount of ADA to be disbursed or if the funds need to be refunded.

Evidence of milestone completion

A video showing two instant SEPA transfers:

a) a valid transfer that triggers an ADA purchase and displays the final ADA amount

b) a non-assignable transfer that's marked for a refund

Milestone 2: Milestone outputs (Money Flow)

In the second milestone, we will complete the entire cash flow process, from transfer to disbursement and repayments.

To ensure fast payout, we need to have fiat on the exchange as well as ADA on-chain. The quantities are monitored and automatically adjusted as required.

In addition to milestone 1, the customer now receives the ADA in his wallet or receives a refund.

Acceptance criteria

Once the deposit has been settled, the customer receives their desired asset in their self-custody wallet within a few minutes.

Evidence of milestone completion

A video showing two instant SEPA transfers:

a) a valid transfer that triggers an ADA purchase and pays out to the user's address.

b) a non-assignable transfer is refunded to the customer

Milestone 3: Milestone outputs (Account Management)

In this milestone, we'll establish the required user administration framework for our scenario.

Users will have the capability to provide personal information, including their name, address and/or email address. After providing an email address users will be able to sign-in by email or wallet connections.

Users will be able to add additional addresses by verifying their ownership.

Acceptance criteria

• Users can sign-in and -up to our service by wallet connection
• Users can provide their personal information (at least an email address)
• Users can sign-in by email
• Add wallet addresses by verifying ownership

Evidence of milestone completion

• An URL to the API documentation and a client key to access it
• A video demonstrating all acceptance criteria

Milestone 4: Milestone outputs (Web App)

In order to provide convenient access to our service, we are developing a web application. Once this milestone has been completed, users will be able to sign-in via a website, manage their account, create orders and view previous transactions.

Acceptance criteria

• Publicly available web application to access the service
• Available features: sign-in, user management, order management, transaction history

Evidence of milestone completion:

• A link to the web application
• A video showing how to sign-in, change user details, create an order and check transaction history.

Final Milestone: Milestone outputs (Legal)

In the final milestone, we will clarify the legal hurdles in order to make the service available to the general public.

Acceptance criteria

• Users are allowed to make real payments to buy ADA by bank transfer.

Evidence of milestone completion

• Fully working and publicly available web app and api.
• Project Close Out Report and Video in compliance with Project Catalyst Fund12 rules.

Who is in the project team and what are their roles?

Andreas Osberghaus (CEO of Rampy)

Software developer

https://twitter.com/mrgrauel

Tim Heidfeld (CFO of Rampy)

CEO IAMX https://iamx.id

Certified European Financial Analyst (CEFA)

https://www.linkedin.com/in/tim-heidfeld/

Please provide a cost breakdown of the proposed work and resources

As of the beginning of May, the price of 1 ADA is $0.45. Our funding request of ADA 200,000 is allocated over the next 6 months and is broken down as follows:

Development:

Cost: $10,000 per month (Approx. 134,000 ADA)

Purpose: To ensure the security and robustness of our platform, which is critical for the trustworthiness of Rampy.

Note: Andreas switches full-time to Cardano

Legal Advisors:

Cost: $30,000 to $50,000 (Approx. 66,000 to 112,500 ADA)

Purpose: To offer a regulatory compliant solution

Note: We cover some of the cost

Contract Work:

Cost: $15,000 to $20,000 (Approx. 33,000 to 44,000 ADA)

Purpose: The MVP needs a good user experience. To achieve this we need the help of designers and ux experts.

Note: We cover some of the cost.

Server & Services:

Cost: 500$ per month

Note: We cover the cost

For a period of 6 months: 200,000 ADA

We aim to overcome regulatory challenges by leveraging a liability umbrella from Germany. While we are unable to disclose specific details at this time, we are engaged in discussions with multiple providers and are optimistic about reaching an agreement to launch the service within this year

How does the cost of the project represent value for money for the Cardano ecosystem?

Rampy's budget is carefully planned to ensure maximum value for the Cardano ecosystem. The costs are aligned with industry standards and are essential for delivering a high-quality, secure, and user-friendly fiat on-ramp for Cardano. Here’s how the project represents value for money:

Alignment with Industry Standards:

Development: The cost for development is significant below industry rates of $120 to $180 per hour. Given the complexity and potential risks associated with combining traditional banking with crypto, this is a necessary investment to build a robust and secure service, protect users and uphold the good user experience of the Cardano ecosystem.

Return on Investment for the Cardano Ecosystem:

Enhancing Accessibility: By simplifying buying ADA, Rampy will attract more users to the ecosystem, expanding the user base and increasing the overall value of the network.

Innovation: The development of Rampy involves innovative approaches, contributing to the overall technological advancement within the Cardano ecosystem. The emphasis on security also builds trust and reliability, critical for long-term growth.

Cost-Effectiveness and Efficiency:

Efficient Budget: Each element of the budget is carefully allocated to ensure that we are maximizing resources for development and security.

In summary, the budget for Rampy has been carefully crafted to deliver value, ensuring that every ADA spent contributes significantly to the development, security, and growth of the Cardano ecosystem. The project not only aligns with industry standards in terms of costs but also promises substantial returns in terms of technological advancement and user growth.

After the launch of the MVP, the plan is to expand the service. The next steps will be to buy native tokens, sell them and build a business solution that can be integrated into wallets.