Please describe your proposed solution.
How you perceive the problem you are solving
To use Rampy, 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 900CHF or 950EUR 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 currency 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 without delay. 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 of 900CHF/950EUR, 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 and Native Tokens easily through bank transfers, eliminating the complexities and barriers associated with centralized exchanges. We offer this service with typical fees around 1%, 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 or their preferred native tokens via automated standing orders, all within the realm of self-custody, eliminating the need for manual steps through a centralized exchange.
- 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 books or their tokens through their platform using SEPA, eliminating the necessity for users to pre-purchase ADA from exchanges.
- Wallets like Eternl can seamlessly integrate our services into their interface, simplifying ADA transactions for their users.
- Affiliates will receive a share of the revenue generated, with specific details forthcoming, encompassing various models ranging from 0.1% to 0.5%.
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 900CHF/950EUR per user daily without requiring KYC.