Gabriel here, co-founder & COO of cede.store, the first non-custodial CEX on-ramp solution for DeFi apps
Introduction
- Right now, you have 3 ways to onboard liquidity:
- Use a bridge
- few solutions (especially for non-EVMs)
- slow, high gas fees
- smart contract risks
- only for assets already on-chain
- Use a FIAT on-ramp
- custodial
- need to do a new KYC
- high fees (2%-5%)
- → target newbies that bring only small liquidity (not making a chain’s TVL or volume)
- Withdraw from a CEX
- we know the majority of the crypto liquidity is within CEX
- almost all DeFi users have a CEX
- users have liquidity already onboarded on CEX that is never “working”
- CEX also provides access to far more networks than all on-chain bridges
- So on the most relevant entry point to DeFi, there’s no solution to facilitate CEX to blockchain transfers
- That’s where we enter the game
- Use a bridge
Value Proposition
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Cede.store is the first non-custodial CEX on-ramp solution for any dApp/chain foundation/browser wallet.
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The goal is to help any player incentivize their users to transfer their CEX assets to DeFi.
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We can do that because we can pseudo-anonymously associate CEX accounts with a DeFi address, therefore, we can reward a user on-chain for off-chain actions.
Identify which DeFi users deposited assets on which network, from which CEX, which tokens, and which quantity will allow our partner to design fully personalized and accurate incentive campaigns, by rewarding the users who deserve it the most: the ones bringing real liquidity, that wasn’t on Metis ecosystem yet.
The idea would be to run incentive program campaigns to reward users when they move liquidity from CEX into the Metis ecosystem!
Metis <> Cede.store video demo
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Users can currently transfer from Binance, Gateio, OKX & Bitget to Metis using cede.store
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Feel free to explore our Presentation Deck (available here & at the end of the proposal) to get some examples regarding our previous campaigns.
Uniqueness Factor
- A dApp can keep the whole user experience within its interface for a transfer from CEX to Metis.
- The user doesn’t have to open his CEX interface and worry about copy-pasting the right destination address.
- In addition to that, we stay fully non-custodial because the CEX access keys of the users stay within the device of the user to comply with DeFi values.
Benefits for Users
- A quicker & cheaper way to fund his wallet
- After partnering with Metis Foundation and potentially dApps building on Metis Ecosystem, benefit from rewards through incentive campaigns! The more you transfer from CEX to Metis, (and potentially to the dApp integrating our widget), the more rewards you will earn
- Start earning exclusive rewards from our partners and be ready for a specific reward program launch on Cede’s side…
Benefits for Metis Ecosystem
- Cover the privileged liquidity entry point to Metis and bring new liquidity on-chain that would otherwise probably stay in CEX
Media
- Twitter: https://twitter.com/cedelabs
- All our social links: cede_labs | Twitter | Linktree
- Direct contact: Telegram: Contact @GabrielBegazo
Roadmap
As mentioned, Metis is now natively supported in cede.store extension.
We are happy to explore other additions if the proposal is approved and explore specific grant opportunities.
Summary
Cede.store is a browser extension that allows users to interact with their CEX assets on any dApp while keeping DeFi values of self-custody and wallet UX.
The goal is to help Metis ecosystem, which means any dApps, wallet or projects seeking for more liquidity, users or trading volume, to incentivize their users to transfer their CeFi assets to on-chain.
The idea would be to run some incentive program campaigns to reward users when they move liquidity from CEX into Metis ecosystem, as we can track and share this data with you (which CEX, which amount and to which DeFi address)
To clarify where cede.store stands on the ecosystem, have a look to the following diagram:
Official Links: Website, Docs, Audits, etc.
- Website: https://cede.store
- Docs: https://docs.cede.store
- Audits (Pen test with Hacken, we’ve got 10/10 security grade): cede.store/Cede Labs PT Complete Report.pdf at main · cedelabs/cede.store · GitHub
Additional information:
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Presentation Deck Metis <> Cede.store: CEX liquidity Initiative Proposal - Grant Metis - Cede_store - Google Slides
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Current metrics (in total, with all of our supported ecosystems):
- 24 partners (Beginning of January: 6 partners)
- $2.5M total transferred (Beginning of January: $0)
- 1450 users (Beginning of January: 371 users)