[TIP-011] Integrate Kado’s On/Off-Ramp Into the THORSwap Ecosystem, and Funding Incentivization Subsidies for Launch.

🔗 TIP-011

THE PROPOSAL

If passed, this proposal will grant Kado team 40,000 $THOR to integrate Kado's on/off ramp into THORSwap UI/UX.

The additional tiers of the grant proposal will go directly to subsidizing the on/off ramp transaction fees for vTHOR holders (when connected to THORSwap) which are normally ~2.5%.

Tier 1: 80,000 THOR = the first $800k in on/off ramp volume will have no fees

Tier 2: 200,000 THOR = the first $2m in on/off ramp volume will have no fees

Tier 3: 400,000 THOR = the first $4m in on/off ramp volume will have no fees

NOTE:

Each voter may select ANY number of choices, top 2 ranked choices will be executed.

ie. Allocate 40K $THOR to Kado for integration AND grant 400K $THOR in fee incentives to ensure the first $4M in on/off ramp volume on THORSwap will have no Kado transaction fees for $vTHOR holders.

Summary

A two part grant funded from the Community Incentive Fund:

Part 1: 40,000 THOR Grant to facilitate integrating Kado’s on/off ramps into THORSwap’s UI/UX. This will enable users to swap from fiat <> any asset supported on THORSwap. Part 2: 80,000-400,000 THOR Subsidizing transaction fees (for $vTHOR holders) for the launch of the feature to provide free on/off ramping for initial volume.

Abstract

If passed, Kado’s on and off ramps will be integrated directly into the THORSwap UI/UX, allowing users to swap their crypto in their wallet into fiat in their bank account, or swap the fiat into crypto. Additionally, we’re proposing subsidizing the transaction fees for vTHOR holders to incentivize users to use the new feature and as additional vTHOR utility.

Motivation

The ability to go from crypto in your wallet to fiat in your bank account has been a missing piece of the puzzle for THORSwap users, and has required the continued use of centralized exchanges. By integrating Kado into the THORSwap ecosystem, users can buy and sell $THOR, $BTC, $USDC, and ~6,000 directly to and from their bank accounts in over 150 countries (https://www.kado.money/supported-countries).

Benefits

By integrating Kado into the THORSwap ecosystem, users can buy and sell $THOR, $BTC, $USDC, and ~6,000 directly to and from their bank accounts in over 150 countries (https://www.kado.money/supported-countries).

Drawbacks

Users will have to create an account with Kado and complete a KYC process in order to connect their bank accounts. Note: this will be a completely optional feature to use - if users do not wish to use Kado’s service, they will not have to create an account or complete KYC.