icRamp – Decentralized Multi-Chain Onramping with Bitcoin Runes, Ethereum, and ICP

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Project highlights

icRamp is a decentralized multichain P2P onramping/offramping platform that enables secure fiat-to-crypto and crypto-to-fiat trades. Targeted at global crypto users and communities underserved by centralized exchanges, it supports seamless order creation, matching, and fulfillment across Bitcoin, Ethereum, and ICP. With built-in Bitcoin Runes and Ordinals support, icRamp provides a flexible and transparent interface for cross-chain crypto economy interactions.

This is our second Developer Grant. The first version explored EVM integration and chain fusion. In this round, we’ve added full Bitcoin support with Rune transfers, UTXO management, secure inter-canister validation, and re-architected the core system for robust, scalable operation.

Web3 advantages

Unlike Web2 onramping services, icRamp does not require a trusted intermediary or centralized custody. Users maintain control of their assets and interact P2P using canister-verified cryptographic proofs and session tokens. There’s no reliance on middlemen, opaque policies, or service restrictions.

How is it built

icRamp is composed of several Rust-based canisters:

  • Bitcoin Canister: Manages UTXO-based accounting, Rune transfers, and locking/unlocking logic
  • EVM RPC Canister: Executes smart contract calls, validates on-chain activity
  • Exchange Rate Canister: Uses XRC and HTTPS outcalls for real-time asset pricing
  • Backend Canister: Coordinates orders, state transitions, security logic, and inter-canister calls
  • Frontend: Built with React and TypeScript, supports multi-wallet login (Internet Identity, Metamask, Unisat)

Architecture Diagram

Design highlights:

  • Session token-based authentication
  • HTTPS outcalls for price & Rune UTXO fetching
  • Secure inter-canister calls with validation layers
  • Persistent storage of order state, transactions, and checks against duplicates and corner cases

Internet Computer superpowers

Without the Internet Computer, icRamp’s vision would not be possible. Key advantages we leveraged:

  • HTTPS outcalls let us query public APIs directly from canisters (no oracles needed)
  • Canister composability enables clean modular design with inter-canister validation and event chaining
  • Stable memory & upgradeability means we can evolve the backend without losing state
  • Internet Identity provides a seamless auth experience with no custodial login

Together, these features let us build a truly full-stack dapp—end-to-end—from backend logic to real-time pricing, all on-chain.

Go-To-Market strategy

We’re starting small with:

  • Hackathon exposure
  • Growing Telegram & X communities
  • Live demos and walkthroughs
  • Partnering with Bitcoin & DeFi telegram groups for testing

Later phases will involve:

  • Open beta + incentivized testers
  • Onboarding local fiat P2P brokers
  • Solana integration & fiat plugin modules

Monetization

icRamp will be designed to be governed by a future DAO, where the community can vote on fee structures, integrations, and supported currencies. Monetization strategies include:

  • Order matching fees
  • Premium tools for brokers

We’re exploring these post-mainnet, after a solid user base forms.

Status of the project

:white_check_mark: Accomplished:

  • Integrated Bitcoin Runes and full UTXO-based logic
  • Implemented secure backend with inter-canister calls
  • Deployed HTTPS outcalls and XRC pricing
  • Designed modular architecture to scale new chains

:bar_chart: We’re currently in sandbox with early adopters and testing partners. GitHub is public, and the frontend is usable on testnets.

Resources

Future Plans

Next milestones:

  • Solana integration
  • NFTs marketplace
  • Community testnet launch with real incentives
  • Apply for an SNS launch + grant for fiat phase

We’re also submitting this for the DFINITY & Encode Hackathon—stay tuned for the live demo!