Proposal Discussion - AssetX Bounty for Coinstore On/Off Ramp Integration (3500 DOT)
Posted by: Gabe / AssetX
Date: March 18, 2025
Proposal Overview:
The team and I at AssetX are excited to propose a new initiative to enhance the Polkadot ecosystem by establishing an on/off ramp for Asset Hub DOT tokens on Coinstore. Coinstore is a Top 40 Centralized Exchange on CoinGecko & Top 50 Exchange on CMC and will bring new users to the Polkadot ecosystem.
To support this integration, we are requesting a small spender bounty of 3500 DOT to incentivize and fund the development of this infrastructure. This discussion aims to gather community feedback before submitting the proposal to OpenGov for a vote.
Details of the Proposal:
Type: On/Off Ramp (via Centralized Exchange)
Deliverable: Integration of an on/off ramp for DOT tokens on Coinstore, enabling seamless fiat-to-DOT and DOT-to-fiat transactions.
Small Spender Bounty Size: 3500 DOT (DOT EMA7 Price ( USD ): $4.26; Number of USD: $14,895.77 based on March 18, 2025, DOT price)
Timeline: Development and integration expected to be completed within 3-4 months following bounty approval, with regular updates provided to the community.
Ecosystem Benefit: This integration will bring several key advantages to the Polkadot ecosystem, such as;
While Coinstore is not yet as large as exchanges like KuCoin, its rapid growth and focus on emerging markets make it a strategic partner for expanding Polkadot’s reach. This bounty will incentivize Coinstore to prioritize DOT support, mirroring the success of prior integrations with CEXs and on/off ramps. Comparison to Previous Bounties
To provide context, here are examples of similar initiatives previously funded by the Polkadot ecosystem:
KuCoin Integration
_Type: Centralized Exchange
__Deliverable: Asset Hub integration with USDT deposits/withdrawals
__Child Bounty Size: $63,000 USD
__Ecosystem Benefit: Improved stablecoin liquidity and accessibility via a leading CEX.
_Status: Completed in March 2024.
Ramp Network Integration
_Type: On/Off Ramp
__Deliverable: Asset Hub integration with USDT, USDC, and DOT support; future direct-to-parachain on-ramps.
__Child Bounty Size: $60,000 USD
__Ecosystem Benefit: Simplified fiat-to-crypto access and scalable infrastructure for parachain support.
__Status: Delivered in April 2024, with parachain ramps in progress.
_
Our proposed bounty of 3500 DOT is modest in comparison, reflecting Coinstore’s current scale and the focused scope of enabling DOT on/off ramps.
However, the potential impact on user adoption and ecosystem growth remains significant. Next Steps & Commitment Upon approval of the bounty, AssetX will collaborate closely with Coinstore to ensure timely delivery of the on/off ramp functionality. We commit to providing regular progress updates to the community and aim to complete the integration by July 30, 2025], pending OpenGov approval. Should additional features (e.g., USDC, USDT Token support) become feasible, we will explore these in coordination with Coinstore and the Polkadot community.
Call to Action: We invite the Polkadot community to share feedback, suggestions, or concerns regarding this proposal.
Your input will help refine the initiative before it proceeds to a formal OpenGov vote.
Let’s work together to make Polkadot more accessible and user-friendly for all!
Thank you,
Gabe & the AssetX Team
Website: https://asset-x.io/
DEX: https://app.asset-x.io/
Telegram: https://t.me/DotAssetX
X: https://x.com/DOTAssetX
Github: https://github.com/AssetXdot
Polkassembly: https://polkadot.polkassembly.io/user/AssetX
Grill: https://grillapp.net/24973?ref=24973
Polkadot Forum: https://forum.polkadot.network/u/steak-king/summary
Discord: https://discord.gg/rhQtprMSMr