How Argent shortened user onboarding by 66% with Ramp Network integration

Argent is a leading L2-focused wallet application in the Ethereum ecosystem, known for delivering low fees and high speeds thanks to its work with solutions like zkSync, which they used when we initially started our collaboration. Matt Marshall, who was a Product Manager at Argent, sought an on-ramp solution that offered a good user experience with KYC, low fees, availability in multiple countries, and support for the zkSync network. These features were essential to maintaining Argent’s value propositions for end users.

More importantly, Argent needed a partner that would help it increase its funding rates — the percentage of users who actually deposit funds in their wallets — with a tailored roll-out plan.

How Ramp Network met Argent’s needs

Ramp Network was chosen by Argent thanks to its commitment to launching on zkSync, allowing Argent to offer an on-ramp direct to Layer 2 natively within the mobile wallet. Its non-custodial, full-stack fiat-to-crypto infrastructure was available through an SDK that could be quickly integrated with Argent and offered important benefits:

Coverage: Ramp Network features support for the zkSync network along with direct purchases for 110+ tokens across 35+ different blockchains. It’s available in over 150 countries and territories and handles KYC processes.

Tailored service: Ramp Network welcomes partnerships on a case-by-case basis, providing help and tailoring specific growth campaigns that are specific to their partners’ needs.

zkSync network support

The Ramp Network team has always been forward-thinking about blockchain infrastructure. Thanks to its existing support for the zkSync network, Ramp Network was ready to serve the users of an L2-focused application like Argent.

Being the first to onboard new Argent users directly from fiat to zkSync — with no stops along the way— was the first stepping stone into the integration’s success. The number of different third-party applications users had to go through was reduced by 66%, from 3 to just 1.

The integration also ensured that Argent users would be able to fund their wallets without having to interact with sometimes costly - and potentially risky - bridge contracts.

Matt Marshall, Argent Product Manager, stated: "For people newer to the space, it’s not feasible for them to be using multiple wallets and bridging from Ethereum to zkSync and then to their Argent wallet. Easy on-ramp plays a key part in onboarding the next million people to crypto."

“First transaction free” strategy

When we initially partnered with Argent, Ramp Network implemented a “first transaction free” strategy as part of our joint launch approach. This plan allowed new users to buy tokens without paying transaction fees on their first purchase, aside from the blockchain network’s gas fees. Please note that the “first transaction free” promotions are not available to Ramp Network’s UK-based customers.

Ramp Network absorbed the cost of these transactions to support Argent’s strategy, incentivizing users to complete the KYC process and increasing recurring users for both parties. This approach led to a 48% uplift in fund rate and a 17% increase in the average deposit amount per user. In addition, for users buying via Ramp Network, the retention rate has doubled in comparison with users using other funding methods.

This strategy highlights Ramp Network's ability to develop mutually beneficial launch strategies that drive success for our partners.

Results, results, results

The integration was a complete success. Argent saw significant improvements in user engagement and activity metrics after integrating Ramp Network:

• Avg. number of monthly deposits is 66% higher
• Avg. number of monthly transactions is 25% higher
• Avg. number of monthly app opens is 83% higher
• Avg. number of monthly trades is 12% higher
• Avg. number of monthly DeFi investments is 38% higher

These metrics underscore the effectiveness of Ramp Network's seamless integration, leading to higher user satisfaction and retention. User feedback further highlighted the positive experience:

• “Buying crypto in the Argent wallet through Ramp Network was a silky smooth experience. It's awesome to just buy directly on L2, with no L1 fees. Highly recommended.” – Anonymous, Trustpilot
• “Used [Ramp Network] to purchase crypto through Argent. Verification process took less than 24 hrs and smooth sailing ever since for my small periodic crypto purchases.” – Beth, Trustpilot
• “The best collabo! I've been using Ramp Network for the past year, Argent since March. :)” – @3h2zn, Twitter

Continued collaboration

After the success of the integration, Ramp Network and Argent continued to collaborate on a joint promotion with MakerDAO for its DAI token. As Argent transitioned to the StarkNet ecosystem, Ramp Network continued to support Argent by integrating its services with the new network. This ongoing support demonstrates Ramp's commitment to adapting to Argent's evolving needs.

Conclusion

There is no one-size-fits-all solution to a complex challenge like fiat on-ramps. Ramp Network combines key differentiators such as global coverage and white-glove service to meet the specific needs of Web3 wallet services like Argent. It has delivered results for its partners by making Web3 access as simple as possible for as many eligible end-users as possible, whether this means direct-to-L2 support or motivating users past KYC.

Interested in integrating Ramp Network into your application? Or do you want to list your token or chain on the Ramp widget and a wide ecosystem of hundreds of our partner applications? Reach out to us, and we'll help. Let’s find out how we can support your needs and drive success together.

Need more information before committing? Check out the following articles:

• Integrating with Ramp Network: 4 things you need to get started
• Integrating with Ramp Network: choosing your on-ramp integration type