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Project Overview
by starburst
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June 27, 2023

PLS Onramp to increase adoption of PulseChain

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On-ramps to blockchain, which refer to the various entry points or mechanisms for users to access and interact with blockchain networks, play a crucial role in driving the adoption and usability of blockchain technology. PulseChain’s only on-ramp at launch was participation in the sacrifice, which took place 666 days before the mainnet launch. Now there are quite a few choices, but PLS Onramp comes with its own PLS on-ramp solution that is easy, trustless, and doesn’t require KYC or registration.

PulseChain on-ramps

Participation in the PulseChain sacrifice phase guaranteed users PLS by sacrificing coins like ETH, XMR, BTC, EOS, LINK, and many others. After the mainnet launched, the only users with PLS were those who sacrificed or those who had lots of ETH. 1 ETH was converted automatically to 1 PLS, but after a while, 1 PLS wasn’t enough to make a transaction. People started their OTC trades to get some PLS, other were gifting PLS, or they started coming up with different faucet solutions like GasBridge, PLSFaucet, and others. Exchanges like Kanga or Safe Trade brought PLS on board. After a few days, the official PulseChain Bridge launched, and things got much smoother, allowing for assets to be exchanged between Ethereum and PulseChain. PLS Onramp comes with their own solution now where users can swap not only ERC-20s but also assets from other chains like Bitcoin or Monero, for example.

Why on-ramps to PulseChain are so important

On-ramps provide a user-friendly and intuitive way for individuals, including those without extensive technical knowledge, to enter the blockchain ecosystem. They lower the entry barrier by offering intuitive interfaces, simplified processes, and educational resources. Most of all, though, they allow users to enter and use a new chain, which isn’t possible without getting the gas coins for transactions. Every action has a cost, and having the possibility to exchange assets the user already owns for PLS is crucial. 
The basic on-ramp is the bridge with Ethereum, but true adoption is when anyone can buy PLS with fiat like USD, EUR, etc. Fiat to PLS conversion functionality is vital in bridging the gap between traditional financial systems and blockchain, allowing users to enter the ecosystem by leveraging their existing fiat holdings.

On-ramps are important because they contribute to increased liquidity within the blockchain ecosystem. They provide channels for users to acquire and trade cryptocurrencies, bringing more participants and capital into the network. This liquidity is essential for vibrant markets, efficient price discovery, and fostering innovation in decentralized finance (DeFi) applications.

What is PLS Onramp

PLS Onramp is a solution built by the MaximusDAO team, which is also the creator of Gas Bridge. They partnered with LetsExchange to create a solution for PulseChain users. LetsExchange is a multicurrency exchange that has been on the market for over 10 years already. By using the PLS Onramp platform, people can now exchange a total of 3821 coins and tokens from different chains to PLS. If you own XMR, AAVE, BTC, BNB, MATIC, or any of the listed tokens, you can easily swap them to PLS within minutes and with just a few clicks. This platform is completely anonymous, non-custodial, and has the lowest possible fees. With this kind of on-ramp, the flow of users from-to all the blockchains is very easy, and adoption can start kicking in.

How does PLS Onramp work

PLS Onramp is very easy and intuitive to use. No registration is needed, and you don’t even need to connect your wallet to their platform. Here’s how it works:
  1. Choose a coin or token you want to exchange for PLS and enter the amount to send
  2. Paste in your PulseChain receiving address
  3. Add a destination tag (memo, message, etc) if required but for PLS it isn’t
  4. Enter and apply a promo code if you have one. Your bonus will be added to the total amount and displayed in the “You get” field
  5. Select between a fixed or floating rate and click “Let’s Exchange”. A fixed rate excludes slippage for 30 minutes, a floating rate may fluctuate.
  6. Confirm the transaction. If all the details are correct, click “Accept”
  7. You can add a refund address to which the funds will be returned if something goes wrong during the exchange process. You can also add your email address if you want to get a notification about the status of your exchange.
  8. Confirm
  9. Send the exact exchange amount to the deposit address. You can scan the QR code or copy the address. Make sure to add a destination tag if required.
  10. Request a receipt if needed; you can also sign up to track your exchange history
Nothing in this article or website is financial or taxation advice. For advice on these matters, please contact a registered professional adviser.

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