What is Ramp Pools?
A couple of days ago, we launched an open beta of Ramp Instant, a delightfully easy fiat checkout system for crypto-enabled apps and wallets. Now, it’s time to shed some light on the other end of Ramp Instant — Ramp Pools.
While Ramp Instant may look like a simple checkout system for crypto, what truly sets it apart from other similar solutions is what’s happening under the hood. Aside from being extremely easy to use, Ramp Instant is also peer-to-peer and non-custodial. Every transaction is matched with a peer in the background, escrowed and released only after the payment is confirmed. But when you use it, who receives the payment for the crypto you just bought?
Peer-to-peer liquidity
In the Ramp Network system (Ramp Instant + Ramp Pools), instead of a single supplier, there’s a network of suppliers who operate independently, competing for buyers’ orders. With a single liquidity pool, lots can go wrong — things that are well beyond the control of a pool operator, like frozen bank accounts. Multiple pools ensure Ramp’s solution an additional stability layer. In a system as decentralized as ours, the risk of liquidity suddenly “drying up” is much lower, with far less impact on the end user.
Crowd-sourced liquidity not only eliminates the single point of failure but is also a way for smaller players to enter the game and get bigger exposure to casual crypto users (who wouldn’t otherwise use a decentralized gateway to crypto, but rather a first result from a Google search. With Ramp Instant, they will stay decentralized without even knowing it).
Reaching out to a brand-new type of customer is just one of the reasons why sellers would want to join Ramp Pools. Besides this, it simply pays off. Ramp Pools offers a fully automated sales platform which makes selling crypto much more like depositing it on Compound.
You lock the assets in a smart contract, set the fee and watch the money flow into your bank account. It’s passive income, all thanks to an easy-to-use, aesthetically pleasing tool which does all the dirty work for you.
Hello, is it me you’re looking for?
If you currently reside in the EU, chances are you’re our perfect fit! All you need is a bank account and some spare ETH, DAI or USDC. All you need to do is set up your Pool — create a simple account with Ramp and connect the bank account to which you want to receive payments for sold crypto. Then define the amount, margin and transaction limits, confirm all with Metamask signature and you’re good to go. When the buyer appears, the underlying crypto-asset will be locked in escrow until the smart contract receives confirmation of payment, but all you will see are fiats flowing into your bank account. Top up once and take up dozens of transactions doing exactly nothing 😎
And if you’re worried about the buyers for your crypto, stop. Ramp Instant takes care of that by partnering with some of the most exciting dApps on Ethereum, including Nuo Network, Zerion and many, many more.
Check out Ramp Pools and join in on the next Big Thing with us.
Want to add an on-ramping widget to your dApp? Integration takes six lines of code — check it out here. Our dev team is available to chat here, and if you want a more custom approach, drop us a line at partner@ramp.network. Stay tuned for more continents, more dApps and exciting news ♥️
