👬Rampz Automate Matching Algorithm (RAMA)

Overview

The Rampz Automated Matching Algorithm (RAMA) is the core mechanism that facilitates seamless transactions between on-rampers (buyers of crypto) and off-rampers (sellers of crypto) on Rampz. The system ensures efficient pairing by matching transaction details between both parties while maintaining a decentralized, non-custodial, and no-KYC environment.

RAMPZ AUTOMATE MATCHING ALGORITHM

RAMA Process

1. Off-Ramper Creates an Offer

• An off-ramper initiates the process by posting an offer to sell a specific cryptocurrency in exchange for fiat.

• The following details are collected and stored off-chain:

  • Token to off-ramp (e.g., USDT, SOL, ETH)

  • Amount of tokens being sold

  • Preferred payment method (e.g., Bank Transfer, PayPal, Cash)

  • Fiat currency required (e.g., USD, EUR, PHP)

• This offer remains open in the order book until matched by an on-ramper.

2. On-Ramper Places an Order

• A on-ramper (buyer) initiates a purchase order, specifying:

  • Token to buy (should match an off-ramper's token)

  • Amount they want to purchase

  • Preferred payment method (should align with the off-ramper’s method)

  • Fiat currency they will use

3. Automated Matching System (AMS) Finds the Best Match

• The AMS scans the order book and attempts to match the on-ramper’s order with the most suitable off-ramper offer.

• Matching Criteria:

  • Token type: Both must want to trade the same token.

  • Amount: The order amount must be equal or within an acceptable range.

  • Payment method: Both must support the same payment method.

  • Fiat currency: Both must use the same fiat currency.

  • Timestamp priority: If multiple matches exist, the AMS prioritizes the oldest valid offer to ensure fairness.

4. Offer Gets Matched and Transaction Initiates

• Once a match is found:

  • The off-ramper’s offer is no longer available for other matches.

  • Both parties receive a notification that their transaction has been matched.

  • The off-ramper waits for fiat payment from the on-ramper.

  • The on-ramper transfers fiat funds directly to the off-ramper using the agreed payment method.

5. Fulfillment and Escrow Release

• The off-ramper confirms receipt of fiat payment.

• The off-ramper releases the tokens, which are locked in escrow smart contracts (on-chain).

• The on-ramper receives the tokens in their wallet.

6. Completion and Record-Keeping

• The transaction is marked as complete.

• Both users can leave reviews or feedback to enhance the reputation system.

• A dispute resolution mechanism is available if issues arise.

Key Features of RAMA

• Automated Matching: No manual searching; AMS finds the best possible pair.

• Off-Chain Order Storage: Reduces blockchain fees and improves speed.

• On-Chain Settlement: Ensures security and transparency.

• Escrow Protection: Prevents fraud by holding tokens until fiat is confirmed.

• Fair Matching Algorithm: Ensures old offers get priority while optimizing liquidity.

Example Transaction Flow

• Off-ramper posts an offer:

  • Wants to sell 500 USDT for PHP via Bank Transfer.

• On-ramper places an order:

  • Wants to buy 500 USDT using PHP via Bank Transfer.

• RAMA automatically matches them based on the details.

• Off-ramper’s offer is locked from further matches.

• On-ramper transfers PHP to the off-ramper’s bank account.

• Off-ramper confirms fiat received and releases 500 USDT.

• Transaction completes successfully.

How This System Improves Efficiency

✅ Automates Matching: No need for users to manually search for orders. ✅ Ensures Fair Matching: Oldest valid orders get priority. ✅ Reduces Transaction Time: Instant matching for active buyers and sellers. ✅ Minimizes Risk: Escrow ensures tokens aren’t released until fiat is received.

This system ensures fast, secure, and decentralized peer-to-peer fiat-to-crypto transactions on Rampz.