How Cetus Protocol integrated Coinbase Onramp to onboard new customers
January 9, 2024
Context
Cetus is a decentralized exchange (DEX) and concentrated liquidity protocol built on the Sui and Aptos blockchains, serving global customers. It aims to offer users liquidity and a seamless experience to trade and swap. As Sui’s official launch partner, Cetus has established itself as one of the most popular DEXes on the network by trading volume, TVL, and number of users. In order to enter the next stage of growth and enable even more people to participate in trading on its platform, Cetus was looking for an onramp solution that would let users easily exchange their fiat for crypto.
“Our focus is to deliver the best trading experience and superior liquidity efficiency to DeFi users. Our goal is to make the experience as simple as possible.” – Henry Du, Co-founder, Cetus Protocol
The challenge
Today, the act of getting crypto and starting to trade is a multi-step, cumbersome process for new users. Users need to set up a crypto wallet, buy crypto through an exchange, connect their wallet to the DEX, and start trading. Cetus knew that users needed an easier way to get started.
The solution
Cetus found the solution with Coinbase Onramp, one of the few onramps that support SUI, which was integrated into their Cetus DEX and reduced the onboarding process to just a few easy steps. Users can now simply enter their payment method information into the Coinbase Onramp widget integrated within the Cetus DEX web app to purchase crypto and start trading.
Coinbase Onramp is built with Coinbase’s security best practices, so traders can use it with peace of mind. Coinbase handles all KYC, fraud claims and customer support. Plus Coinbase Onramp offers users low fees and industry-leading execution.
“We have a high bar for security, and the Coinbase brand gave us the confidence to try their onramp service. We believe that Coinbase’s crypto native experience also resonates with the mindsets of web3 teams. They are a trusted and robust onramp that is important to our future expansion by making it easier to onboard new users.”
This document and the information contained herein is not a recommendation or endorsement of any digital asset, protocol, network, or project. However, Coinbase may have, or may in the future have, a significant financial interest in, and may receive compensation for services related to one or more of the digital assets, protocols, networks, entities, projects, and/or ventures discussed herein. The risk of loss in cryptocurrency, including staking, can be substantial and nothing herein is intended to be a guarantee against the possibility of loss. Reward rates listed herein are estimates, are not guaranteed and are set by the protocol and remain subject to change. Actual rate of rewards earned may vary significantly and may be zero. This document and the content contained herein are based on information which is believed to be reliable and has been obtained from sources believed to be reliable, but Coinbase makes no representation or warranty, express, or implied, as to the fairness, accuracy, adequacy, reasonableness, or completeness of such information, and, without limiting the foregoing or anything else in this disclaimer, all information provided herein is subject to modification by the underlying protocol network. Any use of Coinbase’s services may be contingent on completion of Coinbase’s onboarding process and is Coinbase’s sole discretion, including entrance into applicable legal documentation and will be, at all times, subject to and governed by Coinbase’s policies, including without limitation, its terms of service and privacy policy, as may be amended from time to time.
