[AIP-59] Enabling fiat onramp for direct purchase of $AURA on Onramp.Money

Proposals
1

Author : @Agilan - Agilan - BD and Partnership incharge with Onramp.Money

Summary
Adding $AURA to Onramp Money enables instant fiat buy/sell of $AURA through instant payments and bank transfers. All transactions are on-chain and this increases the on-chain holders of $AURA.

Background
Enabling fiat onramp for $AURA eases the access of the tokens on the protocol. Onramp Money has over 120000 users and we would be pushing our crowd to learn about Aura Finance. The increase in on-chain holders adds credit to the growth of the community, token value as well as eases the use of $AURA within the protocol. This would be a great step into global expansion and growth for $AURA.

Proposal
Onramp Money is a fiat to crypto payment platform (https://onramp.money). Onramp is willing to open fiat onramp option for $AURA by listing the tokens in our platform and sharing API to integrate a widget (Hosted mode/Sandbox mode). We are live in 13 regions now viz INR-India, TRY- Turkey, AED-Dubai, MXN- Mexico, EUR-Europe, VND-Vietnam, IDR- Indonesia, NGN- Nigera, BRL- Brazil, COP- Colombia, KES- Kenya, CLP- Chile, PEN- Peru - currently live plus the regions we will go live by the end of the year - South Africa, Philippines, Rwanda, Ghana, CFA Franc. We would enable all fiat pairs for $AURA. Onramp Money is integrated within Metamask and we would be more than happy to enable the purchase of AURA on Metamask through Onramp Money.

We would also work on marketing campaigns (on requests - Airdrops or AMA), announcements and tutorial videos on how to deposit $AURA through Onramp Money.

The users would have to login through mobile number and complete a 2 min KYC process (we handle local KYCs). Once the KYC is done, the users would have enter the amount of AURA they would like to buy, select the fiat they want to pay with and paste their AURA wallet address. Local Instant payments can be used to make the payment and AURA will be sent to their wallets within a minute or two. This would be a better way to skip the tedious purchase processes from CEXs and get hands on $AURA within minutes. Each and every transaction is on-chain and can be traced on the explorer.

Docs: https://docs.onramp.money/onramp/user-flow

Our recent similar partnership: https://kaspa.org/

Specification
Upon approval, an Onboarding form is to be filled by Aura Finance (any contributor can do it) and a fee of 25000 USDT would be requested to be deposited by Aura Finance to list AURA and enable all the fiat pairs. API will be shared with the secret key to the email id used in the Onboarding form buy AURA contributors which is to be used to integrate the widget in the app/website.

Voting
The voting would be a single choice format. Voting can be “for” or “against” this proposal. Voting “for” this proposal signifies support to enabling direct purchase of $AURA using fiat through Onramp Money’s website and under the Aura Finance app.

4 Likes
2

Thanks for the proposal! We’ve already begun the voting round for this week, so we’ll move this to Snapshot next week.

For reference, here’s the original temperature check as well. [Temperature Check] Adding Aura to Onramp Money and Enabling fiat buy/sell of $AURA - #9 by Contributor

And as noted on the original temperature check, internal community support for this doesn’t appear to be that high for this proposal, but if there are any contributors or community members on your end that would like to chime in as well, everyone is free to utilize this forum and make comments.

2 Likes
3

Thank you for the support. I am here to resolve any queries related to the proposal as well as support on any front related to fiat onramps. Looking forward to opening up a great partnership run with Aura Finance :))

4

Can you kindly post the link to the voting page on Snapshot here once it is live? Thank you

1 Like
5

I think this is a great idea and I support adding AURA to Onramp Money. This would make it easier for new users to access AURA and join the Aura community, as well as increase the liquidity and exposure of AURA. Onramp Money is a reputable and user-friendly platform that supports fiat on-ramp and off-ramp for various crypto assets, and I think it would be a good fit for AURA. I also like the idea of enabling fiat buy/sell of AURA, as this would reduce the friction and fees involved in acquiring AURA. I believe this proposal would benefit both Aura and Onramp Money, as well as the wider DeFi ecosystem.

1 Like
6

Sounds good, and yes, we’ll drop a link here when it’s posted.

1 Like
7

Hi @Jackma , thank you for your support. I am elated that you are using Onramp Money already :))
We would be more than happy to make this proposal work and add AURA to our platform to enable the ease of purchasing AURA for you :))

8

Thank you very much :))

9

https://vote.aura.finance/#/proposal/0x0095bb756c22202e04d4af6e92e66a5871b2c4dab4573871b7f5dd93bfeda89a

1 Like
10

Going to vote against Aura paying $25,000 to prop up a generic-seeming fiat onramp startup.

1 Like
11

Hello @AuraMaxi.eth , We do have room for negotiations :)) I would be able to get in some discounts for Aura Finance around this :))