What’s New at Verto: Fiat On-Ramp, and Wen Swap?
Verto is the heart of profit-sharing token trading on Arweave, with a team that’s responsible for some of the ecosystem’s core tools and innovations. The exchange provides markets for any Arweave PST/AR pair so users can buy ‘shares’ in Arweave projects that they want to support or profit from, or sell their rewards from early adoption or community participation.
Verto integrates Ramp Network
The introduction of a fiat on-ramp makes it possible for users to go from credit card to PST quickly, without leaving the exchange. The integration is via Ramp, an on-ramp used by Axie Infinity, Sorare and the Opera Browser to take the friction out of the usual long-winded process of buying through a CEX, withdrawing it to a web wallet, and so on.
Ramp detects the address a user is logged into Verto with, and handles the process of either a bank transfer or card payment before depositing the token into the user’s wallet. Integrating Ramp can be done in a few lines of code:
Ramp Network, along with competitor Transak, were originally onboarded to Arweave by ArDrive. ArDrive were also looking for an easier answer to the question of how to easily buy the AR necessary to use the product. The on-ramp’s fees are 0.26 EUR per swap, with a mimimum swap amount of 2.49 EUR. We covered this initial integration here along with other ways to get AR.
What else is new at Verto
The Verto Exchange’s swap function has been under maintenance since around September this year – initially suspended for issues with the Amplify gateway, after investigating potential fixes the team instead resolved to build an entirely new backend for the exchange and migrate away from the trading post model (a network of staked nodes), to one based on smart contracts.
As the murmurs of wen swap grow louder and a new #are-we-there-yet channel in the Discord is created to quarantine the barrage, we’re seeing progress ramp up rapidly.
A new commit to Verto’s js repo shows documentation for the new SmartWeave-based interface which is now being internally tested, and the interface repo‘s feat/clob branch shows the implementation of the order book view and token swap feature.
“We are almost ready, but we don’t want to release without extensive testing. We will make an announcement once it is ready”, Verto developer Marton Lederer said.
Meanwhile, Verto co-founder Divy Srivastava applied his hardware hacking skills to the fresh meme pictured at the top of this article, not to mention the pursuit of another hotly anticipated feature…
Hardware wallet integration?
The swap wen LED device was one thing, but here’s another hardware story. Divy is also working on Ledger support for Arweave, possibly as part of the ArConnect or Verto product.
Woke up yesterday morning to find @undefined_void didn't already have a Ledger despite needing one for his work.
Instead of asking for one, he created his own ("Ledger-compatible" 🤯) firmware to run on hardware he already had: https://t.co/BYN0vRciyb
— Tate Berenbaum 🐘 (@TateBerenbaum) December 9, 2021
Until we hear more, we can only make assumptions about the Verto team’s plans for hardware wallet integration. Whatever happened to the intern that ran @moreverto, anyway?