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2/15/2023

Layerswap On-Ramp Announcement

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TL;DR

The majority of gamers onboarding to web3 start by obtaining crypto through a centralized exchange, then struggle to be transaction-ready in a game environment. Moving crypto across wallets, layers, and applications can be confusing and challenging, especially for new users. Simplifying this process can help game studios convert the crypto-curious and skeptics into passionate members of their communities. 

That’s why we’re thrilled to announce that the Layerswap on-ramp is officially live on the Immutable Core SDK! The Layerswap on-ramp offers a seamless solution for users to transfer funds from centralized exchanges directly to Immutable’s layer 2 platform within minutes.

Not only do gamers stand to benefit from this release, but by offering a new channel for players to quickly and safely access crypto, studios can now tap into funds that have laid dormant on centralized exchanges as well. The Layerswap on-ramp is designed to increase revenue for game developers by making spending easier.

How does it work?

The Layerswap on-ramp feature enables users with funds on centralized exchanges to instantly on-ramp ETH, IMX, and USDC into Immutable’s platform. Partner domains will be whitelisted by Immutable so our partners don’t have to engage Layerswap directly. This provides Immutable’s partners with the ability to integrate with the fastest and cheapest on and off-ramp solution directly through the Immutable Core SDK.

  1. Users register in Layerswap and connect to the exchange where their funds are held
  2. Users initiate a transaction from their account to Layerswap’s account. This transaction is instant.
  3. Once Layerswap detects this transaction, it initiates counterparty transactions in the user’s requested destination network.

Layerswap has been running for eight months and has processed more than $100M in total transaction volume from Coinbase, Binance, and more. By supporting major centralized exchanges in regions across the globe, the Layerswap on-ramp is designed to drive more trading volume, faster purchases, and more mainstream adoption for developers building on Immutable.

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