IdentDeFi
A decentralized and open standard for on-chain compliance that uses zK proofs!
- Date
- February 2022
- Role
- Engineer
- Tags
- Blockchain, Web3, EVM, Zero Knowledge Proofs
Overview
A decentralized and open standard for on-chain compliance that uses zK proofs! Any DeFi protocol can recognize compliant users without the transfer of sensitive data. Protocols and users are currently disincentivized to perform KYC, and lack of community action poses risk of top-down regulation of Web3 markets. IdentDeFi provides a lightweight, protocol-agnostic architecture that focuses on open, secure, privacy-preserving compliance checks. IdentDeFi utilizes decentralized ownership and governance to maximize protocol flexibility and grow with the evolving needs of DeFi markets.
Process
Users undergo KYC once, and upon verification are minted a non-transferrable NFT. Protocols can then check if a user carries a KYC NFT, allowing them to trade any permissioned or permissionless market.
Project Credits
- Aaron Wong
- Casper Yonel
- Paul (@valeseus)