Hey Aura Finance Team,
Ryan from Cede Labs, a french startup backed by GSR, Stake Capital, and DoraHack.
I am BD Lead at Cede Labs and we have developed cede.store, a Chrome extension that adopts a Metamask-style interface (same UX and non-custodial). However, instead of focusing on managing and tracking on-chain assets, it enables users to manage and track assets from various CEXs (Binance, Coinbase, OKX, etc).
Liquidity Task Force: cede.store has a feature called “Transfer from CEX” that allows your users to transfer their off-chain assets to on-chain wallet and use them on your dApp in just two clicks. It’s like an off/on-ramp solution to provide CeFi liquidity.
User retention: The new feature includes a widget for easy integration into any dApp in less than 5 minutes. This means your users can transfer their CEX assets directly from your dApp in the ‘Transfer from CEX’ section and then use them for bridging, locking, etc.
Our goal is to onboard new users on Aura dApp and boost your TVL/Volume.
Just a standard comment, Aura has no team, only contributors. Aura voters will be the final decision makers here.
Feel free to leave this Temperature Check open for a reasonable amount of time for comments (at your discretion) and if you feel that feedback is positive, edit this Temperature Check or create a new Proposal that follows the standard proposal format here: [Aura Finance] Proposal Rules and Guidelines You can see examples on other AIPs on forum as well. One comment in particular would be to pay attention to the Specification section–that is what exactly you would need the Aura DAO to take action on, as that part is still a bit unclear since it doesn’t appear that you need the DAO’s permission for integration.
Regarding the concerns you may have on the security/tech side:
cede.store allows users to connect their API key and Access key (OAuth) from CEXs to manage and track their off-chain assets. Our solution is a non-custodial Chrome extension with the same DeFi UX (we want to uphold DeFi values). Therefore, we don’t store the API keys; they are stored client-side, not server-side.
We employ the same battle-tested encryption model as Metamask and recently underwent an audit by Hacken, receiving a perfect 10/10 score. They made the announcement recently.
Additionally, we are working with Ledger’s Former CTO and Co-founder to integrate API keys in a hardware wallet, making it even more secure for users.
So, we don’t store any CEX credentials. The user maintains ownership of these.
what do you look for from aura dao? integration of the widget on aura frontend? it is not clear what users can do with that widget on aura since it is much more complicated than just “withdrawing from cex and depositing”. please specify.
Aura currently facilitates asset transfers into on-chain wallets through its bridge. With cede.store we can facilitate frictionless CEX withdrawals through a widget (5min integration) or by calling our methods, allowing Aura users to transfer liquidity from Binance directly to Metamask within the Aura Finance dApp.
Adding a “Transfer from CEX” feature in the Aura bridge would allow seamless transitions for those seeking to invest CeFi assets on-chain. Our Chrome extension simplify this process into just a few clicks.
By making migration of CEX assets smooth, Aura Finance can unlock new liquidity, users, and TVL growth. And I believe integrating these user-friendly on-ramps aligns with Aura’s goals around adoption and usability.
What are your thoughts on that? I’d be happy to hear your feedback!