Unlimit 🛠 Unlimit Crypto Onramp, Fiat-to-XYZ with AA

foreign [Music] and it started off in the payment space right and then they expanded off into different sectors like banking as a service so an 09 in the early 2010s you know when your Ecom is blowing up when all like the online payment gateways are blowing up unlimited was actually powering a lot of them and within like lat M within aipac within Europe so we have a huge online uh we have a huge presence globally so um we do card acquiring so we accept debit and credit card payments and a bunch of currencies we have a bunch of payment methods alternative payment methods also you know your classic Apple pay cards banking rails we do card issuing um and yeah we also have a full stack bass solution so this is just an example of what I was talking about we have over 150 countries many languages bunch of payment methods and unlimit started this division of unlimited crypto within the past year and a half so the idea was to take all of the Rails that have been built over the past 15 years and apply them to the crypto game the crypto the crypto world so this is the question right like why why does this matter on and off like why is this why is this important right so I've had this as an example I'm sure a lot of you guys know this guy this is the P coin the the Bitcoin pizza guy from 2010 or the guy made the first payments probably one of the first use cases of crypto which is he bought a pizza with Bitcoin right so how how has this evolved since then right like when it comes to buying the dream to buy a cup of coffee with it with with crypto or to buy whatever you want with crypto the first step obviously you have to on-ramp so that's that's where we come in right so let me start off when you go to a store and you use your debit or credit card to buy something the question is what happens like why why is unlimited different how are we different what happens you have to understand the exact flow and I'll go through that real quick right so use the called card holder you're going to use a card given by your bank and the bank is the issuer and the issuers oftentimes are called principal members within networks like such as Visa or Mastercard I'll get to that in the next slide um so then after that the card the card holder goes to the merchant all right the merchant accepts your car payment through a point of sale system and the store has a bank relationship with an acquirer this ensures that they can accept the card and the payments so in this sense unlimit is an acquirer so we are the acquirer in that flow and then the point of sale system is going to connect to a processor which is like your fizzes or your squares and the processor's role remains as the mediator that ensures the con the conversation between the store the network and your bank go through and then the processor informs the acquirer about the transaction details the acquire facilitates that transaction by connecting to the network and ask the card and the network is there enough funds on here and then Visa speaks to that Visa or whatever card Network speaks to the bank and um with that with with those details and the bank which is the issuer they check if there's enough money and they send back a message saying either approve or decline and then the processor transmits that message back and if it's approved it's proved the money moves and goes to the right place it has to go so as you see here just simple swiping your card and like buying something there's a bunch of players there's a bunch of routes that your order has to go through so with that being said the question is how why why do we need another order off ramp why is this why is this matter so before my time at at unlimit I worked I've been working in the on off ramp space for a few years now I was at a company called wire and the wire was one of the biggest on or off-ramp players in the game similar to wire if you have a bunch of different people like moonpay transact a bunch of different people the question is how are we different pretty much what I described to you because we own the entire stack we are the processor we are the acquirer we do the settlements so we own this in the entire stack of when you put your card in 20 by crypto we own that stack meaning what does that mean it means fees are not being taken off by um that's that's an I'll be I'll be right back I'm sorry okay um whoops okay yeah so that means essentially when your card hold when you're a car loader you want to buy something it goes to that flow you're not going through your stripes your world pays you're not essentially your stripes your world play is no longer are they taking bips and fees exposing you to like FX spreads essentially when you go through us you have the entire stack in your pocket so when you go on like an aggregator like if you go on auto ramper right now you'll see we're essentially like the default provider for a lot of pairs because of what I just explained because we own the entire stack we essentially minimize the fees on for the user's end um so as I was talking about um we are a principal member of of different networks like the Visa and MasterCard um so the question is what does that mean so you have your JP Morgans a lot of the banks they're also principal members that gives you the ability to issue and do Merchant acquiring so in order to actually do that a lot of the competitors they have to do it in a hacky way right you have to get a sponsor you have to pay fees to essentially tap into the same network we're already tapped in so we're essentially avoiding fees on that end and obviously you have the processing the acquiring the settlement their fees being taken out being taken off on at every route but we essentially are able to bypass that because we own the entire stack so the question is so what right okay so what does that mean that means now that you want to go and buy this coffee up until now because you had ridiculous fees spreads I mean you're exposed to counterparty risk as well so if any of these other on or off ramps they do fraud they have chargebacks all of a sudden now their Partners or now that that on or off ramp they have to pay 50 60 70 000 a month they're exposed to higher fees because they've done chargebacks right there the counterparty risk is there that's also gets passed on to you for the sake of this for the sake of this hackathon why does it matter because now you have the ability with the lowest fees possible no longer are you spending a hundred dollars to get ninety dollars of crypto that essentially we're minimizing that as as much as as much as possible um so why is this matter in this and this is where we come to the hackathon so now that you understand essentially the premise of the technology is not you know it's not new like we're not building Rockets I think the important part is what I described it's just the why why does this even matter but let's go into the actual hackathon so we have account abstraction 101 right so these are a bunch of different projects that are building in the account abstraction space right now all right so actually we're working with zero Dev which is they provide the infrastructure for a lot of like account abstraction wallets and a lot of the functionalities but there's a bunch of other players that actually share this uh slide and and all the different players after this um within the either a telegram Group which you can I have my telegram at the end or within the actual each Global uh Discord group um so here's here's a couple of a couple of providers I'll share that later but so the question is what is what is accountabraction Right you've heard it a million times what like what does it mean right it's very simple right so account refraction is just having smart contract wallet functionality right the ability for small contracts to send and verify transactions instead of EOS like your metamask well which can't which can't do that um some more contracts power back by Power by account abstraction can be programmed with custom validation logic so essentially your wallet now becomes its own depth what is what does that even mean so let me keep going so with the account abstraction there are many functionalities that you can plug in so you have here a couple so you have gas sponsoring you can pay for your users gas fees and either you know any really any erc20 token or if but the ability to pay in really any token is a is a big thing here batching bundling multiple transactions um providing the idea of session keys right so using a login method you now have a temporary session key which is essentially your private key so that's that's a New Concept you have social recovery so if you lose access to your account you can essentially have a backup um you can um so you have upgradable validation rules you can upgrade some more contracts as I said the gas fees and different tokens and with the ability to have different plugins essentially you can plug you can pretty much create anything into these wallets um so the idea is what is the idea behind this hackathon right so the idea behind this hackathon is okay you have unlimits on ramps now combining that with the idea that you can build any logic within a wallet what can you do what does that mean imagine on-ramping into an account of extraction wallet that wallet has logical written in it saying hey when eth lands in his wallet route that to an nft Marketplace buy this nft and send it back to this wallet right so before this users had to go in and do everything they had to go in Google at an nft Market figure out gas figure out how to connect their wallet figure out how to buy this nft with this with that with this essentially where we're going now in the space account abstraction your wallet can be its owned app no longer do you really need to do anything and go anywhere you can essentially execute the logic to do whatever you want within this wallet so here's some ideas that you know you could do there's a some that I thought about but you really can do anything right so you have the ability to schedule transactions like recurring subscriptions um automatically claim rewards for mining or staking uh buying nfts as I talked about working if you're doing something related to you know potentially getting liquidated you can create logic saying hey if I ever reached a certain threshold fund my account right so this can all happen in the back you're not actively doing anything it's just pre-coded in into the wallets right um so what does this mean it's up to you it's up to you guys to figure out what it means right the ability to have your own DAP in your own wallet essentially your your wallet now becomes curved it becomes nft Marketplace it becomes anything you can really imagine it to be so here is the actual resources to get this going right so I'll pull up this right here and I'm gonna share this I'm going to share these resources within the telegram group or the Discord um so let me go here so we pulled it up refresh that so this repo essentially you can clone it and it brings this up and I made this I'll obviously I'm going to share with you guys so you can build on top if you like um so as you come in we have all these different login methods you can use one come in here you now have automatically a wall address spun up for you this wallet you can essentially add any logic anything you want within it that can execute in the web 3 world whatever you can imagine it should be but essentially and I have these two examples as what you could do so we partnered with zero Dev as I talked about um we have them in our telegram group they ever need a like chat or have a question about how it works but really you can use any account distraction platform you want but we have zero Dev already so it's makes it easy for you guys but these are some functionalities you can like pay for the gas uh bundle transactions and we have our on and off we have our on-ramp which is essentially an SDK which pulls up our Auto amp in different modes right so you have overlay embed you can go to like hosted pulls it up in a different thing in a different window we have our API endpoints you can you can actually even get the widget through an endpoint which returns back a URL um and we have our configuration endpoint so this configuration endpoint shows essentially everything when it comes to the countries that are enabled the payment methods the networks each token is on or a coin is on um the payment methods that are applicable to each jurisdiction so essentially this will be the map of how everything the possibilities of how things can link up we also have the get quote standpoint you can get the quotes get your orders that have already happened get a single order so five five endpoints right and then SDK so that the actual is nothing crazy happening here right I think the the interesting part is going to be combining this with the actual obviously the AAA wallets um and I will share this with you I will share this with everyone you can clone it do whatever you want with it um I have some more examples I'll share this as well so you have like we have this for example so this is going to be service son of okay let me pull up something so you have essentially the SDK you can essentially do whatever you want in here customize it add any param you want you'll see a change within the actual SDK um we have that and then we have the API docs as well of course we have the API docs we even provided you zero devs uh website you can make an account there it's self-serve you can just spin up a test account and just pretty much plug it into the demo app and build whatever you want with it um so yeah here are my Telegram and Discord names you can you know send me a message I'm going to be out in the back I have a table out in the back if you want to come and ask me anything at all go for it um we'll add you to the groups you know we'll give you all the resources you need to get this going and yeah that's pretty much it right there um yeah let me know if you guys have any questions any questions at all I'm willing to take questions right now if you have any thoughts ideas concerns yeah what's up man it is so yeah exactly you can choose your AAA solution I just did zero Dev because you like we've already built stuff with them it's easy like I can we have like the resources to help us but if you want to go if you know something else yeah I'm agnostic to whatever you want to choose and yeah cool I appreciate it guys