[SCP-29] Proposal to integrate OnJuno for Onramps and Offramps and have the DAO earn revenue via its partner program

Hello everyone! My name is Varun Deshpande

  1. and I am the Co-Founder at OnJuno. To truly help ShapeShift build a borderless financial system, OnJuno wants to collaborate to provide compliant onramps and offramps with low fees to Shapeshift members and contributors. The DAO would get a certain % of these fees.

    With this proposal, OnJuno aims to provide -

    Instant one-time and recurring buy and sell crypto feature for ShapeShift, Portis and Keepkey members

  2. Seamless offramp for Shapeshift members and DAO contributors
  3. DAO partnership revenue share and cash flows. Exact amounts discussed below.

For those who are not familiar, OnJuno

  1. works at the intersection of banking, crypto and DeFi to offer 4 key features:

    Compliant way to take entire or a part of paycheck in crypto

  2. Buy-sell & send-receive crypto instantly from a checking account at low fees
  3. 5% crypto-back on select brands of your choice
  4. Yield Product: 4% on savings vault using DeFi (coming soon)

Previously, our team was behind the Nuo protocol, which was one of the top five DeFi protocols on DeFi pulse in early 2019. Today, our vision is to make banking fair and transparent by helping members manage and grow their cash and crypto-assets seamlessly. We’re backed by an exciting line of investors like Sequoia Surge, Mithril Capital, Consensys, Polychain Capital, Greycroft, Hashed, Dragonfly Capital and more. We also count Balaji Srinivasan, Surojit from Coinbase, Sriram from a16z, Mike Dudas from Paxos, Salil from Uncorrelated as angel investors and advisors.


  1. As a Shapeshift member, I want to be able to convert my fiat to crypto and vice versa via bank/ach transfers almost instantly at low fees. Other partners take 1-3 days before a crypto purchase is funded using ACH and debit/credit card method has lower limits and higher fees. OnJuno, with its existing banking infrastructure, helps eliminate this delay without any extra fees.

  2. As a DAO contributor, I want to convert my crypto earnings in BTC, ETH, USDC to cash in a simple, low-cost way to help me pay my bills. OnJuno lets me manage my cash and crypto holdings and conversions seamlessly without worrying about my tax filings as my transaction details are aptly captured.
  3. For helping OnJuno get more early adopters and volumes, they provide an affiliate/commission based revenue model where in DAO would receive a % of the transaction fee. This aligns perfectly with the DAO’s partnership revenue model.

Benefits/Motivations for ShapeShift Community:

  1. Since OnJuno is a neobanking platform, it can help process one-time or recurring cash to crypto conversions using bank/ACH transfers instantly. While other partners process instant conversions with debit cards and credit cards, they charge high fees with low transaction limits. However, with OnJuno, the fees will remain as low as 0.95%, without any spread or hidden fees with a starting transaction limit of $10,000 per day, which is likely to increase over time. This would be an improvement over existing partners and onramps that require 1-3 days before a crypto purchase is funded using ACH transfers.

  2. For DAO employees, OnJuno can provide a simple, low-cost way to convert crypto into cash and have the cash deposits go directly into OnJuno Checking Account for paying bills or everyday spending. This would give seamless payment records for DAO contributors to make tax filings much easier.
  3. 30% of the 0.95% transaction fees generated from this partnership would flow in as revenue back to the DAO and with this affiliate based model, OnJuno ensures that the community truly benefits from this partnership.

Benefits/Motivations for OnJuno:

  1. Early engaged members via this partnership

  2. Revenue from increased transaction volumes and spends (Crypto trading, Interchange)


In order to stay compliant with Bank Secrecy Act and Anti Money Laundering (AML) legislation, quick KYC will be required to create a new FDIC insured checking account and avail the benefits of these onramps and offramps. However, KYC is a one-time requirement and will ensure secure usage on the platform. Currently, this is a US-only offering but is likely to expand to the UK, Canada and Europe soon.

Vote “Yes” if you would like to see OnJuno integrated as Onramp and Offramp for ShapeShift members and DAO contributors and share 30% of the revenue back to the DAO.

Vote “NO” if you don’t want to see OnJuno integrated with Shapeshift

I’ve been searching for a crpto friendly bank for the last few weeks, so this proposal has amazing timing! I look forward to seeing the specifics and what the community has to say about it.