Instant + Free USD On-Ramps on Flux

Blue recently came out of stealth on CoinDesk with its $3.2M seed round. We’ve been building an on/off-ramp solution that we believe would help drive liquidity to Flux’s money market.

Our product allows users to access their fiat bank account on Flux with just one click. This unlocks a user’s largest source of liquidity, making it available on Flux through a stablecoin called USDCash. USDCash is an ERC20 token that is connected to a user’s bank account through Plaid and other 3rd party integrations. When a user purchases USDCash on-chain, there is a USD deduction from their fiat bank account. This eliminates the need to on-ramp through CEXs or providers like MoonPay or Transak that can typically carry hefty fees.

If a user wants to lend 500 DAI but does not have any DAI, they could click a simple call-to-action button on the Flux Finance application that allows them to instantly on-ramp 500 USDCash and atomically swap 500 USDCash for DAI. In the background, we’re capturing $500 USD from the user’s bank account via ACH transfer, minting them 500 USDCash (backed by the $500 USD ACH pull), then swapping USDCash for DAI in a USDCash/DAI pool.

Instant + Free
We’re using new technology on our backend that allows us to offer instant ACH transfers for the end user, making the on-ramp process instant. This differs from on-ramping providers today that rely on pre-funding and typically take anywhere from 30 minutes to 3 days to capture USD payment. Additionally, we’re offering 0% fees for all on-ramps because we have an alternative source of revenue in the form of USD reserves that sit at a qualified custodian (a portion of reserves are invested in short-dated US Treasuries, similar to the business models of fiat-collateralized stablecoins). Below we have outlined how Blue compares to competitors.


  • Flux can drive more liquidity to the protocol by connecting user’s bank accounts to lend-borrow pools
  • Users can on-ramp instantly with no fees
  • First-time on-ramp requires a KYC/AML check & Plaid onboarding flow
  • All on-ramps from fiat require 2FA authentication (irrespective of the amount)
  • Uniswap recently made a similar integration with MoonPay (stats below on how we compare to other on-ramps)
  • Our website is - we have completed security audits with Halborn and Verilog and the implementation would be a JS SDK that has been audited with code available for inspection by anyone

Blue MoonPay Transak
 Fees  0% (cards)
0% (ACH)
 4.5% (cards)
1% (ACH)
3.99% (cards)
0.99% (ACH) 
 Speed  Instant (ACH) ~30 mins (cards)
2-3 days (ACH) 
 ~3 hours (cards)
2-3 days (ACH)
 KYC  Yes  Yes  Yes
 Tokens  Any (via trade routing) <100 tokens   <50 tokens

What we’re asking for
We’re looking to integrate with Flux as a widget in the top corner of the frontend (similar to Uniswap’s MoonPay integration) through a JS SDK. This will give users convenient, free, and instant access to their fiat bank account liquidity while on Flux Finance.


Smart stuff, sounds similar to Monerium EURE in europe.

Can you make any kind of assurances or covenants regarding the fees for on and offramping?

There have been past deals like this for frontends, with promises of low or no fees, yet they have later on evolved into high fee rent-capturing on/offramps.

If the no-fee model is ingrained in your business, then surely you’d have no issue committing to providing the on/offramp service on Flux Finance for free for say 3 years?


Thanks very much for taking the time to write this proposal. Some initial questions that come to mind are;

  1. $500 deposit would need several months to cover the gas fees. Would a minimum deposit size of for example $10k help protect retail investors?
  2. Does the USDCash / DAI pool exist?
  3. Are there any jurisdiction limitations?
  4. Does Blue have money transmission licenses?
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Will it work for US citizens only?

Thank you for your response!

To provide an update, we’re still ironing out some of the legal obstacles before we can launch this product. We’ll keep you in the loop and let you know as soon as we have any updates.

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