Dear Kusama community,
This is Zhixi Zhang from Interlay. We propose a bounty program aimed at helping Kusama parachains integrate fiat on-ramp support for their native assets with Banxa, one of the leading providers in the space.
Please visit discussion post regarding this bounty via this link.
Currently, acquiring native parachain tokens has been identified as a significant obstacle for new users in the Polkadot and Kusama ecosystem, and many parachains are seeking solutions to incorporate an on-ramp service. However, integrating on-ramp services can be challenging for parachains due to high costs and extensive liquidity requirements. Meanwhile, in order to integrate parachain tokens, service providers face barriers such as limited token volume and restricted exposure to DeFi solutions.
After conducting extensive research and interviews with various on-and-off-ramp service providers, along with numerous conversations with different projects in the ecosystem, we decided to work with Banxa, a leading payment service provider, to bring to you a bounty program that aims to provide an affordable on-ramp service tailored for Polkadot and Kusama assets.
This bounty program is intended to help as many parachains as possible in establishing easy and secure solutions for native token on-ramp, thereby improving the user acquisition process for the ecosystem as a whole. Please take a look at the full bounty proposal, we would love to hear what you think!
Bounty Cost: $10 500 per parachain
Total requested budget: $105 000 USD of KSM
*Note: Native USDT onramp support is now available on Statemine and can be integrated. Onramp support for USDC and other stablecoins will be added once liquidity channels are in place.
Bounty Curator Candidacy
The selection of administrative curators is crucial for the success of the bounty program. This announcement presents the candidates for the curator position who, upon approval, will oversee the "Parachain Assets Onramp Support" Bounty Program. The bounty will be curated by a Multisig. It is suggested that the curator committee receives a reward to compensate for their time and effort in this initiative.
The selection of curators is carefully designed to represent all parties involved in this bounty. For more context, please visit the Bounty Curator Candidacy Proposal, which provides information on the curators' backgrounds, responsibilities, and the reward scheme.
**Multi-sig account: **
Alexei Zamyatin, Co-founder of Interlay
Jonathan Dunne, CTO of Talisman
Ryan Dinh - Head of Business Development of SubWallet
Irvin Cardenas: Co-founder and CEO at OpenDive Technologies
Jakub Greguš, Jakub Gregus, Co-founder of HydraDX & Basilisk
Interlay has proposed a bounty program to help Kusama parachains integrate fiat on-ramp support for their native assets with Banxa, a leading payment service provider. The program aims to provide an affordable on-ramp service tailored for Polkadot and Kusama assets. The bounty cost is $10,500 per parachain, and the total requested budget is $105,000 USD of KSM. The bounty will be curated by a multisig, and the selection of curators is carefully designed to represent all parties involved in this bounty. The curators' backgrounds, responsibilities, and reward scheme can be found in the Bounty Curator Candidacy Proposal.
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