A Bear market is a Builder's market—and we are building.
Recent months have been some of the most challenging in the history of the digital asset sector, with several high-profile incidents starting with the collapse of LUNA and the UST stablecoin, followed by a hack on the Harmony Bridge. More recently, the insolvency proceedings facing 3 Arrows Capital (3AC) and the ongoing difficulties involving centralized lender Celsius have created further disruption.
Directly or indirectly, everyone in the cryptocurrency sector has been affected to some extent.
However, many recent incidents cannot be attributed to market movements alone and could have been avoided with better regulation and oversight. This simple fact galvanizes regulators worldwide, from the UK and European Union, to Singapore and Australia, and across the Pacific to the US.
At AllianceBlock, we firmly believe that a sensible regulatory framework will make the DeFi space fairer, friendlier, and easier to navigate.
More importantly, it could help to ensure that community members have reduced exposure to the risks that resulted in the large losses we have recently witnessed.
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Flying the Flag for Compliance
AllianceBlock is building the infrastructure necessary to support sensible regulation enabling institutions to participate in the digital asset sector compliantly.
Our commitment to compliance and security is evident across our suite of tools and products. One clear example is the launch of Fundrs. Our Trusted Identity Verification (TIDV) solution will be integrated into Fundrs along with the first Seeker projects listing on the platform. TIDV allows any user to become verified using an official yet trustless form of identification. Users can then access KYC-enabled token services across our entire ecosystem. Launching and integrating TIDV is a huge step towards ensuring that AllianceBlock is a safe and compliant platform inclusive to traditional firms and institutions.
Following a successful period of staged testing, we are thrilled to confirm that Fundrs is live on Mainnet! Our development team has been hard at work to introduce a new user interface and ensure that all features and actions are ready for listing the first Seeker projects.
We’d like to extend a big thanks from the AllianceBlock team to all community members who participated in the Testnet and the Bug Bounty for supporting our journey to the Fundrs launch. Catch up with the Mainnet launch announcement over on the blog, and please head over to Fundrs to see the features in action for yourself!
AllianceBlock Fundrs Launched on Mainnet, in fulfillment of AllianceBlock's vision of creating a fully-decentralized peer-to-peer funding platform.
Optional KYC across the board
TIDV will allow for the creation of compliant pools on the DEX, and compliant liquidity solutions (for example, liquidity mining) through our no-code DeFi Terminal. In addition, through integration with TIDV, compliant liquidity pools can be offered to other DEXes.
More than just KYC for compliant liquidity pools, project leaders can use TIDV to operate fully-compliant liquidity solutions for their tokens. Projects can use the technology to guarantee a unique person in a DAO, verify unique participants for launchpads, confirm age verifications for gambling applications and more.
We believe that TIDV will prove to be a critical enabler in bridging DeFi to traditional finance by finally providing a decentralized solution that overcomes the compliance gap and doesn’t compromise the ideologies of decentralization.
Our DEX has been live since the end of May, when our Co-Founders Rachid Ajaja and Matthijs de Vries made a surprise launch announcement during a Telegram AMA, a move that was well received by the community. The DEX short-term roadmap includes the integration of TIDV to the DEX, and integration with more layer-1 blockchain networks including Polygon, Avalanche, BSC, and Moonbeam in the coming months.
While permissionless pools can still be created as with any DEX, TIDV enables projects and users to have the full flexibility to operate and participate between fully-permissioned and permissionless pools as they see fit.
Summary
Despite the rocky macroeconomic outlook, adoption and interest in TradFi leveraging DeFi technology continues to grow. At the same time, regulators are becoming increasingly stringent as regulations across the board tighten. Having compliant DeFi solutions greatly lowers the barriers to entry of financial institutions. For TradFi organizations active in crypto, they’ll be able to participate in a whole raft of new opportunities.
In the last couple of years, we’ve witnessed numerous issues regarding liquidity and access faced by builders and users in the DeFi space. This experience has spurred us to keep expanding our vision and building more compliant solutions.
AllianceBlock’s future-proof infrastructure is not just designed to serve the DeFi projects of today. It is built for the next generation of Web3 innovators and serves as a bridge for traditional finance to capture some of the value in decentralized technologies.
Through our no-code DeFi Terminal, we are already supporting 16 clients with their staking and liquidity campaigns. In total, these clients have launched 80+ campaigns, with 60+ proving to be so successful that the client extended the initial duration.
Over the coming months, we look forward to continuing our monthly newsletter, exploring industry trends and providing product updates in more detail.
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