Contrax June 2023 Update

The Contrax Team
3 min readJun 1, 2023

The theme of this month was simplifying on-boarding to Contrax. We focused on making it as easy as possible to get started, no matter your entry point. Specifically, we launched our referral program, added no-gas one-click bridging from Polygon to Arbitrum, and a tiered KYC onramp. We are also currently integrating Front to allow users to move their crypto from any exchange to Contrax from within the app.

Give $5 and get $5 for every Referral

Contrax has launched a referral program for those who buy from our gateways. Upon purchasing for the first time, you’ll get $5 in USDC from us and also get a referral link. For everyone who clicks your link, you and they will get $5 upon purchase. This happens for all of our on-ramps.

One Click Polygon USDC Bridging

If you use Polygon or have easier access to Polygon USDC than Arbitrum USDC (like when transferring from exchanges like Coinbase), then Contrax has you covered. All you have to is send your Polygon USDC to your Contrax social wallet, and then in one click on the dashboard, bridge it over to Arbitrum, with gas covered by us! Now, you can enter and exit any farm thanks to our USDC only experience! If you have a Web3 wallet like MetaMask, you can also use this feature, but you’ll need a bit of MATIC in your wallet to pay for the bridging.

Wert Tiered KYC Onramp

KYC is one of the most annoying experiences when buying crypto, which is why Contrax has integrated Wert, an on-ramp that allows you to buy without needing to upload your ID thanks to tiered KYC. Other ways of checking KYC are used based on the info you provide and the card you use. Contrax is also adding GateFi in the coming weeks to give another tiered KYC option with more supported locations.

Oh, and since these gateways only offer Polygon USDC, we auto bridge it to Arbitrum upon purchase.

The Next Steps for Contrax🎯

These are the current goals we are working toward. If any of these speak to you, speak to us!

  1. Front Transfer from Exchanges: Why keep your crypto in someone else’s wallet while they use it for liquidity or worse? With Front, you can move your crypto from centralized exchanges to Contrax from within the app, so you can truly own it and reap the benefits for providing liquidity with it.
  2. GateFi Tiered KYC: GateFi is another tiered KYC option that has more supported location. We want to give multiple buy options since there are different ones support different locations and payment methods.

Join Our Community 🔗

Join our Discord and contribute your ideas.

Follow us on Twitter to hear updates right away.

Check out our app for yourself, here.

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The Contrax Team

Contrax provides DeFi scaling tools to new and existing projects. Check it out at www.contrax.finance