Application: OmniRamp

[Doordashcon]

Project Abstract

OmniRamp redefines fiat-to-crypto transition through a secure, decentralized peer-to-peer (P2P) onramp/offramp trading protocol. Combining on-chain governance, cross-chain interoperability and privacy-first infrastructure to create a non-custodial marketplace that eliminates reliance on centralized exchanges (CEXs), empowering users trade fiat and crypto assets directly.

Grant level

• Level 1: Up to $10,000, 2 approvals
• Level 2: Up to $30,000, 3 approvals
• Level 3: Unlimited, 5 approvals (for >$100k: Web3 Foundation Council approval)

Application Checklist

• The application template has been copied and aptly renamed (project_name.md).
• I have read the application guidelines.
• Payment details have been provided (Polkadot AssetHub (USDC & DOT) address in the application and bank details via email, if applicable).
• I understand that an agreed upon percentage of each milestone will be paid in vested DOT, to the Polkadot address listed in the application.
• I am aware that, in order to receive a grant, I (and the entity I represent) have to successfully complete a KYC/KYB check.
• The software delivered for this grant will be released under an open-source license specified in the application.
• The initial PR contains only one commit (squash and force-push if needed).
• The grant will only be announced once the first milestone has been accepted (see the announcement guidelines).
• I prefer the discussion of this application to take place in a private Element/Matrix channel. My username is: @_______:matrix.org (change the homeserver if you use a different one)

[github-actions]

CLA Assistant Lite bot All contributors have signed the CLA ✍️ ✅

[Doordashcon]

I have read and hereby sign the Contributor License Agreement.

[Doordashcon]

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[PieWol]

Hey @Doordashcon ,

thank you for the well written application. I like your concept of a decentralized on/off ramp. Since you are both members of the fellowship I'm sure that you got the necessary expertise to pull this off. Sadly our grants program doesn't focus on ramp efforts. This is mostly done by velocity labs through their DeFi Infra & Tooling Bounty. Did you already know about their program? I highly recommend to get in touch. I'm sure they can provide very valuable feedback on your product vision.

To my understanding you are somewhere in between both of these programs as most of your work will focus on technological development. I'll ask more colleagues for a review. Let's see what they will say. Thanks for your patience.

[Doordashcon]

Hey @PieWol,

Thank you for the thoughtful feedback and for highlighting Velocity Labs’ DeFi Infra & Tooling Bounty. We weren’t previously aware of it, but after reviewing, we see synergies with our decentralized on/off-ramp vision.

While we’ll absolutely engage with their program for future collaboration, our current proposal focuses on the infrastructure needed to bootstrap the protocol, which—according to the Web3 Foundation guidelines—we fit into.

This project is distinct from existing ramp solutions in its emphasis on decentralization and compatibility with Polkadot’s cross-chain ecosystem fit.

By developing and open-sourcing these components early, we aim to gather community feedback and ensure alignment with broader ecosystem priorities.

[Noc2]

Thanks a lot for the application and all the effort you put into this. We discussed the application internally and decided not to go ahead with it. The main reason is that we think that there is a huge competition regarding on-/off-ramps at this point (including P2P-focused initiatives), and it will be very difficult to be successful without having important partnerships. Independent of it, we wish you all the best for your project. Let us know if you have any questions.