August 10, 2022 - 4 min read
SupraOracles is delighted to announce a partnership with PureFi Protocol, the one-stop decentralized compliance protocol for Web3. PureFi is a collection of smart contracts to shield trustworthy DeFi market participants from dishonest crypto.
PureFi protects the decentralization principle and the anonymity of users. Users are incentivized to utilize PureFi in anticipation of future legislation. PureFi to the AML providers and offers crypto asset analytics to safeguard users of liquidity pools and law-abiding market participants from the risks associated with “dirty money”. By employing the VC certificate in conjunction with its complete AML/KYC data, the liquidity pool user, for instance, will be able to reduce the chance of receiving an unlawful money trail.
PureFi has strategic and technical alliances with Hacken, Arcadia Group, and Casper Labs. The protocol architecture is designed to direct user interactions with third-party providers off-chain, ensuring low transaction costs. A wide range of risk indicators will be included in the protocol for users of liquidity pools and DEXs to report any suspicious behavior with increased due diligence.
SupraOracles and PureFi are working together to find ways to incorporate SupraOracles solutions while maintaining security and transparency for DeFi institutional participants. In addition, SupraOracles will aid PureFi in building cross-chain bridges because UFI, the company’s token, is available on three different blockchains.
Slava Demchuk, CEO and Founder of PureFi, commented:
“We are extremely happy to be connected with SupraOracles. We hope our core service will benefit from this, and our footprint within the AML compliance space will be more defined. We hope to offer a full-cycle solution for crypto asset analytics and AML/KYC procedures on the DeFi market.”
Joshua D. Tobkin, CEO and Co-founder of SupraOracles, commented:
“We look forward to providing the oracle services and helping PureFi in bridging cross-chain gaps. Users of DeFi will be appreciative of PureFi’s attention to any suspicious activity on liquidity pools and DEXs.”
SupraOracles combines traditional financial markets with Web3. Our goal is to provide a powerful cross-chain oracle to the developer community. SupraOracles enables interoperability smart contracts to guarantee the future of financial markets by integrating real-world data into public and private chains. The ability to create, deploy and manage data applications that are faster, more agile, and more resilient is also provided by this technology.
PureFi is the only DeFi AML protocol for onboarding cryptocurrencies. It was created by AMLbot in collaboration with Hacken with the intention of giving the DeFi industry a full-cycle solution for crypto asset analytics and AML/KYC procedures.
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