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IdentDeFi

A zero knowledge proof for on-chain compliance

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Don’t let CeFi regulate DeFi

Centre, Circle, Block, Algorand, Coinbase, Compound Labs, ConsenSys, Espresso Systems, Hedera Hashgraph, Ledger, MetaMask Institutional, Phantom Technologies, Solana Foundation, Spruce and Stellar Development Foundation

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Problem

$14 billion in crypto assets were stolen in 2021, representing an 81% increase from 2020.

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Protocols and users are disincentivized to perform KYC, and lack of community action poses risk of top-down regulation of Web3 markets.

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Solution

A decentralized & open standard that allows DeFi primitives to recognize compliant users.

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Protocols check for balance of the KYC NFT, while users trade seamlessly over any permissioned or permissionless market.

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Benefits of distributed model

  • Not limited to any one protocol (i.e. Aave Arc)
    • Eliminates repetition of user onboarding
  • Lightweight, protocol-agnostic architecture to provide open, secure, privacy-preserving compliance checks
    • Existing KYC-compliant infrastructure used as proxy for security
  • Users retain on-chain anonymity as data lives with regulated financial service providers (i.e. banks, broker-dealers, etc.)
    • Zero knowledge proofs ensure user privacy

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Demo

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https://www.youtube.com/watch?v=8Kyg-shRcRQ

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Roadmap

  • Widespread protocol integration
    • Permissioned pool creation
  • Jurisdictional roll outs
    • U.S. to set standard, with U.K. and Europe to follow
  • Policy advocacy and regulator relations
  • Industry partnerships
    • Distributed attestation network

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A call to action

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If we don’t do this now, they will do this for us.

Regulators

Policy makers

Jurisdictions

CeFi

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Architecture

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