Partnerships
Last updated
Was this helpful?
Last updated
Was this helpful?
Ramps demand any amount of token minted through to be collateralized which can be expensive but no worry, they also enable you to accept partners.
A ramp owner that wants to raise his/her ramp's mintable amount to 100k tEuros for instance will need up to 125k tEuros worth of the native token of his/her ramp's blockchain locked inside a bounty attached to the ramp.
To get that amount, the ramp owner can signal a need for partners by updating the ramp's maximum partner value from 0 to something like 4. That way if there are 4 people willing to contribute 25k tEuros on average each and the ramp owner can also contribute 25k tEuros, then they will be able to raise the ramp's mintable to 100k tEuros.
To do so, the ramp owner creates a bounty with 25k tEuros worth of native token locked inside and attaches the bounty to the ramp.
The partners will also create a similar bounty and partner with the ramp.
To attach a bounty to your ramp, you first need to create the bounty which you can find a guide on how to do . Make sure you input the Ramp Helper 2 contract's address in the Claimable By field. The Ramp Helper 2 contract's address should be available at the bottom of the pop-up that you use to create your bounty.
The next step is to add some native tokens to your bounty; in our case, we are going to add 25k tEuros worth of the native token of our blockchain.
After your bounty has been created, go back to your ramp's control panel menu, click on the Update Bounty button, fill in your bounty ID, and validate the operation.
Congratulations, you've just attached a bounty to your ramp, you should see the mintable value of your ramp (which is the amount of tokens it is capable of minting) raise to about 80% of your bounty's locked value minus any previously minted tokens plus any previously burnt tokens.
You can only partner with a ramp under two circumstances:
The ramp has recently become undercollateralized due to a depreciation in value of the native token of the blockchain. You can sort the ramps in descending order of their total number of under-collateralized token markets or by revenue
The ramp is looking for new partners and has raised its maximum partners count to above its current number of partners. You can sort the ramps in descending order of their maximum partner counts or by revenue
Once you've spotted a ramp that you would like to partner with, make sure you've created a bounty according to the steps above.
Once you've created your bounty, go into the control panel menu of the ramp you would like to partner with and click on the Partner button. Input the ID of the bounty you've just created and validate the transaction.
Congratulations! You've just partnered with your ramp. You should be able to see the changes reflected in the parameters' section of the ramp. We can see that bounty ID 46 which is our partner's bounty is listed as a partner bounty ID. We can also see that the Paid To Partners variables lists its share of the ramp's revenue to be 50% since its bounty holds the same amount of the tokens as the ramp owner's bounty (#45).
Any revenue generated from the moment of partnership until the partnership's end will be shared 50-50 between the owner and the new partner unless more partners come in or one of the bounty's balance changes.
Whether you are the owner of your ramp or just a partner, you can claim your share of its revenue by going to the control panel menu and clicking on the Claim Revenue button
Input your bounty ID and validate the transaction to claim your revenue.
Keep in mind that when the ramp adds a new partner, all the partners' shares are recomputed and any unclaimed revenue is considered claimed so in case you are the owner of the ramp, make sure you advise all your partners to claim their shares of revenue before you raise the maximum partners' variable.
