We are excited to announce our collaboration with Transak. This partnership provides the first-ever direct on-ramp to a Layer 3 blockchain, marking a significant step towards eliminating friction associated with engaging with Web3 applications.
We’ve implemented an innovative fiat-to-smart contract system, allowing users to purchase crypto using Transak One directly on our Muster Layer 3 blockchain, which utilizes Arbitrum Orbit technology. This initiative is the first of its kind, enabling players in Cosmik Battle, our Web3 enabled game, to purchase Etherium and immediately use it to acquire assets in the game’s marketplace – without having to bridge it themselves.
Furthermore, this serves as an example of how Dapps can easily and affordably offer transactions directly on Layer3 with Transak One, without a native on-ramp solution.
“Our partnership with Transak marks a breakthrough for the whole Ethereum ecosystem. By combining cutting-edge account abstraction and Transak onramp services, we are able to offer the cheapest and most straightforward way for users to get crypto on a wallet they can use immediately. Our collaboration does not require locking up liquidity or complex infra deployment, it works at scale and is available for any blockchain willing to onboard better.”
Jerome de Tychey, Founder and CEO of Cometh
Layer 3 blockchains enhance transaction processing within decentralized applications (dapps) by focusing on the application layer. These blockchains provide interoperability, user interfaces, and additional services, facilitating the connection of different blockchains and making the technology more accessible and functional for users and developers.
However, onramp solutions are required because users cannot easily convert fiat currency into cryptocurrency. It is a costly and complicated endeavor for a layer 3 builder to integrate an orbit chain with an onramp. And without it, users must purchase crypto elsewhere, which is then sent to their wallet – and then bridge it themselves – a process that deters all but the most hard core web3 users.
Therefore, any dapp deployed on a layer 3 blockchain without a native onramp lacks a straightforward method for users to buy and immediately use crypto on a peer-to-peer marketplace. This has considerably hindered the usability, accessibility, and growth of Layer 3 blockchain solutions.
However, this integration shows how they can enable users to purchase Crypto without having to make a large investment in an onramp – paving the way for a better user experience and removing another friction point associated with purchasing and transferring digital assets across layers.
This partnership addresses the significant challenge faced by dApp developers and Layer 3 blockchains by providing a direct on-ramp through automated interactions at the protocol level. Employing this new fiat-to-smart contract It enables a single transaction from fiat to Muster. And, users simply wait for their crypto to become available without needing to take any further actions.
The entire transaction is completed in under two minutes. Here is a step by step overview of how it works:
Cosmik Battle – A better user experience for Marketplace
Cosmik Battle is a web3 game developed by Cometh and deployed on Muster, our Layer 3 blockchain. Players can accumulate, purchase or exchange cards with other players on a blockchain enabled marketplace.
Prior to this integration, players were only able to make an in-game Ethereum purchase to acquire new cards. IF they wanted to acquire cards from their peers on the secondary market, they were forced to purchase Ethereum in layer 2 Arbitrum and then bridge it themselves on Muster.
This was because Cosmik Battle was deployed on Muster, Cometh’s own layer 3 blockchain which did not have an onramp solution. Read more info about Cometh’s Muster & Layer 3 https://blog.cometh.io/layer-3-explained/.
Now, thanks to the Transak integration, players can purchase Ethereum with a credit card and use it to purchase assets from other players in the game’s marketplace.
Watch this video to see how a player in Cosmik Battle can purchase Ethereum and immediately access it in their account.
Looking Ahead
Cometh is committed to developing solutions that push the boundaries of blockchain technology. Our collaboration with Transak is just one example of how we’re innovating to make digital ownership and blockchain interactions more accessible and user-friendly. We are excited about the future possibilities this partnership opens up and look forward to continuing to lead the way in blockchain technology innovation.
About Cometh:
Cometh is a leader in the blockchain industry and web3 development platform that enables builders to easily and securely embed web3 capabilities into their games and apps. Cometh products include SDKs for an embedded biometric wallet, marketplace and an NFT checkout. Cometh has also built several Web3 enabled video games including Cosmik Battle.
About Transak:
Transak is renowned for its Web3 onboarding and payments infrastructure solutions for dApps and Web3 games. Their platform allows developers to integrate API-driven fiat-crypto onboarding solutions, enabling users to buy cryptocurrency using familiar Web2 payment methods.
