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;

• Improved Accessibility: Coinstore, as a centralized exchange with a growing user base, will provide an additional entry point for new users to join the Polkadot ecosystem via DOT token transactions. This aligns with the ecosystem’s vision of broadening access to its native assets.
• Liquidity Boost: By enabling fiat on/off ramps for DOT, this initiative will enhance liquidity and usability for both existing and prospective DOT holders, making Polkadot more competitive in the broader crypto market.
• Scalable Infrastructure: Partnering with Coinstore strengthens the network of service providers supporting Polkadot, offering a scalable and user-friendly solution for fiat-to-crypto conversions without requiring users to navigate complex processes.

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