The Peer-to-Peer Onchain Offramp is a revolutionary decentralized application (dApp) that enables users to securely and seamlessly exchange cryptocurrency assets with each other. The platform utilizes a combination of cutting-edge blockchain technologies to facilitate fast, efficient, and trustless transactions.
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Chainlink Functions:
- The project leverages Chainlink functions to access external data, ensuring real-world information is available on the blockchain.
- This integration enhances the security and reliability of the offramp by enabling smart contracts to make informed decisions based on reliable data.
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Gnosis Safe:
- Gnosis Safe is utilized to provide users with secure multi-signature wallets.
- It enhances the security of the offramp by requiring multiple parties to confirm and approve transactions, reducing the risk of unauthorized access or fraud.
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Polygon (formerly Matic) for Account Abstraction:
- The implementation of Polygon's Layer 2 scaling solution improves the user experience by significantly reducing transaction fees and speeding up transaction times.
- This account abstraction layer helps eliminate the need for users to hold specific cryptocurrencies for gas fees, making the offramp more user-friendly.
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Worldcoin:
- Worldcoin integration allows for seamless cross-chain transactions.
- Users can exchange various cryptocurrencies, regardless of their native blockchains, fostering interoperability and expanding the offramp's usability.
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XMTP for Messaging:
- XMTP (Cross-chain Message Transfer Protocol) is used to facilitate communication between different blockchains.
- It ensures that transaction information is relayed accurately and promptly between the parties involved, enabling efficient cross-chain asset swaps.
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Monerium for Banking:
- Monerium's e-money solution bridges the gap between digital assets and traditional finance.
- By integrating Monerium's e-money capabilities, the offramp can support fiat currency conversions, making it more accessible to users who prefer to transact in traditional currencies.
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Users sign up for the Peer-to-Peer Onchain Offramp using their Gnosis Safe multi-signature wallets, ensuring secure account access.
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Through the integration of Chainlink functions, users can access real-time external data, such as asset prices, to make informed trading decisions.
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Transactions are executed on the Polygon network, benefiting from its account abstraction features, reducing gas fees and improving transaction speeds.
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The offramp allows users to exchange various cryptocurrencies across different blockchains using Worldcoin's cross-chain capabilities.
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XMTP facilitates communication between different blockchains to ensure seamless asset swaps and transaction verifications.
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Monerium's e-money solution enables users to convert their digital assets into fiat currencies for easy withdrawal and access to traditional banking services.
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Decentralized: The offramp operates on a decentralized network, eliminating the need for intermediaries and enhancing user trust.
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Secure: Gnosis Safe's multi-signature wallets provide an additional layer of security, safeguarding user funds from unauthorized access.
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Fast and Cost-effective: Utilizing Polygon's Layer 2 scaling, the offramp significantly reduces transaction fees and speeds up settlement times.
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Interoperable: Worldcoin and XMTP enable cross-chain compatibility, allowing users to trade assets from different blockchains seamlessly.
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Fiat Integration: Monerium's e-money solution bridges the gap between digital assets and traditional finance, expanding the offramp's use cases.
- Frontend uses ReactJS
- WorldID is used for sybil protection when Merchants onboard
- Safe module serves as escrow and Safe Offramp/Onramp kit used to process EURe transactions
- Chainlink Functions are used for the banking related API calls
- XMTP is used for merchant & buyer communication
- Polygon was used for deployments.