# The State of Fiat On-Ramps for Layer 2s by Thijs Maas | Devcon Bogotá - Channel: [Devcon](https://streameth.org/devcon) - Date: 2023-10-09 - Duration: 07:40 - Topics: Science & Technology - Watch: https://streameth.org/watch/yt-sf7vsB8Q-wg - YouTube: https://www.youtube.com/watch?v=sf7vsB8Q-wg ## Description Visit the https://archive.devcon.org/ to gain access to the entire library of Devcon talks with the ease of filtering, playlists, personalized suggestions, decentralized access on Swarm, IPFS and more. https://archive.devcon.org/archive/watch/6/the-state-of-fiat-on-ramps-for-layer-2s/ In this talk, Thijs Maas, the CEO of Onramper, shall share unique insights into the fiat on-ramp market for layer 2s, using data on fiat on-ramps. We shall demonstrate the gaps in current layer 2 on-ramp coverage. Speaker(s): Thijs Maas Track: Layer 2s Keywords: fiat on-ramps,fiat gateways,research Follow us: https://twitter.com/efdevcon, https://twitter.com/ethereum Learn more about devcon: https://www.devcon.org/ Learn more about ethereum: https://ethereum.org/ Devcon is the Ethereum conference for developers, researchers, thinkers, and makers. Devcon 6 was held in Bogotá, Colombia on Oct 11 - 14, 2022. Devcon is organized and presented by the Ethereum Foundation, with the support of our sponsors. To find out more, please visit https://ethereum.foundation/ ## Transcript foreign [Music] I'm the founder and CEO of unramper and you can imagine my interest now let's go through some Basics what is on-ramp so an on-ramper is not a party like coinbase coinbase is broker as a wallet as an exchange we will Define fiat on-ramp here as a third party that offers a API or widget for one they're not sure so that's parties like the ones 12 as big as in space uh moonpay probably being market leader and each of these on-ramps is good in different things right um You might recognize some names examples great southeast Asia transact this local payment methods as well Moon Bay tries really well and does really well and quite a lot and credit cards us now the question is how do you judge Fiat on-ramps so there's three main components here number one is fees quite obvious quite intuitive won't die of too much into now the second one reach reaches how many countries there's a Fiat on-ramp sport how many Fiat currencies how many cryptocurrencies how many payment methods and the third one which is sadly overlooked a lot is success rate a lot of Fiat on-rem transactions actually fail so you need to have the right Fiat on-ramp that will actually make a transaction work in the right region now I'm from onewember we are a Fiat on-ramp aggregator that means that we work with these parties we aggregate them all we put them all in a single API in a single widget and then we offer that to the apps wallets exchanges Etc you see the interface there this is the widget now in that users can select amount of crypto they're buying fiat currency cryptocurrency payment method and we figure out who is actually cheapest right here you see it's transact but you can see that the fees actually can differ quite a lot right when it comes to reach or actually if I go back a slide so this is choosing the on-ramp based on fees that I just said success rates is also important drugs [Music] foreign [Music] if you can read it how many on-ramps actually support assets on that layer two so right now the one with the most support is polygon which arguably there too or not um and after that orbitrim who we just heard from as well as then optimism CK sync and some of the other ones notably some of these layer twos don't even have Fiat owner yet right so for users the only way to actually get there is buy crypto somewhere else and then Bridge which we discussed is not a great way to do it so some conclusions and probably the most popular layer 2 for on-ramps this is a multiple metrics that we track obviously as aggregator we get a lot of data in across all of these on-ramps across all of the people that integrate on ramper so they're most popular in transaction volumes number of on-ramps and supported assets because one thing is a on-ramp actually supporting buying of has its own layer 2 but then second question is which assets how many assets and you see even with the biggest ones we see a very low range of assets being supported so it's really early days now it's miles better still than a year ago but we're not there so what then and what is on-ramper's role within it now we care about improving this because simple reason for that is this is usually the first thing a retail user has to do right and often sadly these transactions fail often these tokens are not supported so in any way we can help out we want to help out so when it's about the support of tokens there's multiple ways that we actually do help out layer twos and projects built on top of layer twos one is obviously we have the relationships with all of these different field on-ramps so we can help in improving the support for their two base assets whether that's you know the more regular ones if you're going to use DC Etc or more specific assets however that is per project right that's not very quick in that sense not very scalable because it requires our human effort to work with you together of course we're willing to do that but we've also built a better way now this better way is essentially taking this concept of hey you still have to buy cryptocurrency with Fiat first with credit cards or local payment methods and then you still have to bridge it but what if we make this into a single flow and sure if we can buy crypto let's say ethereum on a main layer and then Bridge it over to layer two then still we only have one asset so what if you can then instantly also in the same flow merge the swap on the decks so that's what we've built that is what it looks like I see that my time is up you can wrap up in 30 seconds right so that's what it looks like it's a flow that allows the user to go from Fiat to any acid on layer 2 if we want to make that work even through a bridge and a um the X transaction now the bridge is hidden on the back end here's an overview of the bridges and exchanges Nexus that we already support now we haven't been able to aggregate all of this ourselves this is made possible by the beautiful and great people at Levi um and yeah if there's anything that we can help you out as layer 2 as project only layer 2 as Dex on layer 2 to make buying any asset possible with cryptocurrency then yeah reach out at thisamper.com or Twitter or Telegram Applause [Applause]