ic2p2ramp

ic2p2ramp

IC2P2Ramp is a decentralized protocol designed to facilitate the seamless onramping and offramping of digital assets by integrating the Internet Computer (ICP) with Mantle and other EVM blockchains.

Created on 2nd June 2024

ic2p2ramp

ic2p2ramp

IC2P2Ramp is a decentralized protocol designed to facilitate the seamless onramping and offramping of digital assets by integrating the Internet Computer (ICP) with Mantle and other EVM blockchains.

The problem ic2p2ramp solves

IC2P2Ramp addresses the challenge of seamlessly bridging the gap between fiat currencies and cryptocurrencies across different blockchain ecosystems. Traditionally, converting fiat to crypto (onramping) and crypto to fiat (offramping) involves multiple steps, centralized exchanges, and significant trust issues. IC2P2Ramp makes this process easier and safer by providing a decentralized, secure, and user-friendly platform that integrates the Internet Computer (ICP) with Ethereum and other EVM blockchains like MANTLE and OP. Users can now manage their digital assets efficiently, enjoying real-time exchange rates and robust transaction verification, all while maintaining control over their funds without relying on centralized entities. Our innovative solution leverages secure HTTPS outcalls, on-chain API communication, and real-time exchange rate retrieval to provide a robust, user-friendly platform for managing digital asset transactions. With IC2P2Ramp, users can easily convert fiat to crypto and vice versa, ensuring a smooth and efficient experience in the decentralized finance ecosystem.

Challenges we ran into

Cross-Chain Communication: Integrating ICP with Ethereum and other EVM blockchains required understanding and adapting the robust evm-rpc canister that can handle the intricacies of different blockchain networks. I overcame this by implementing an EVM RPC canister from another starter kit and building it up by keeping an eye on the official evm rpc canister.

Secure Payment Verification: Ensuring the security and accuracy of payment verifications with external services like PayPal was critical. I tackled this by using HTTPS outcalls canister to make secure API requests and implementing comprehensive verification logic to validate transaction details.

Real-Time Exchange Rates: Providing accurate and up-to-date exchange rates for various cryptocurrencies and fiat currencies was essential for user trust. I integrated the Exchange Rate canister to fetch real-time rates and used efficient caching mechanisms to maintain performance. Nevertheless, the calls that the canister does to the external APIS does not work in local in my case.

Handling Payable Transactions: Managing payable transactions on the Ethereum blockchain required precise handling of smart contract interactions and gas estimations. I tested and optimized our smart contract functions to ensure smooth and error-free transactions.

Tracks Applied (7)

Extending Ethereum with ICP

IC2P2Ramp integrates the Internet Computer (ICP) with Ethereum and other EVM blockchains. By leveraging the unique capab...Read More
Internet Computer

Internet Computer

Best DeFi project

IC2P2Ramp is an innovative DeFi project that seamlessly integrates with the Mantle network to provide a robust and user-...Read More
Mantle

Mantle

Best Infra/Tooling project

IC2P2Ramp is a cutting-edge project that fits perfectly into the Mantle: Best Infra/Tooling Project track by providing e...Read More
Mantle

Mantle

Best UX/UI project

IC2P2Ramp is designed with a strong focus on providing an intuitive and seamless user experience, making it an ideal can...Read More
Mantle

Mantle

Decentralized Community Resilience Award

IC2P2Ramp is a decentralized protocol designed to empower communities by providing seamless onramping and offramping of ...Read More

Ethereum Innovation for Sustainable Futures Award

everages Ethereum's core capabilities and developer tools to create a sustainable, privacy-preserving, and interoperable...Read More

Prototype a Superchain Superpower

IC2P2Ramp is a pioneering project that leverages the capabilities of the Optimism network to create a powerful and seaml...Read More
Optimism

Optimism

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Cheering for a project means supporting a project you like with as little as 0.0025 ETH. Right now, you can Cheer using ETH on Arbitrum, Optimism and Base.

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