Solidproof is a Defi KYC and audit platform introduced in 2021 to ensure trust in the Defi world. The platform will be playing a significant role, especially considering the high crime rate associated with Defi projects.
Recently, a cyphertrace report on crime in Defi showed that in the first seven months of 2021, Defi had lost over $474 million in different crimes. The growth of crime in the Defi sector has always made investors choose not to put their monies in the Defi space. Therefore, it’s true to say that the Defi world lost the trust of investors.
However, the German-based project Solidproof is on a mission to ensure they address the trust and security issues in Defi. Generally, they will provide audit and KYC-related services for upcoming Defi and the already operational ones.
Solidproof Provides Individual and Project Security
Of course, the first way Solidproof will ensure security is by providing smart contract audit services. In many cases, loopholes associated with smart contracts make it easy for criminals to attack the system. Solidproof will vastly contribute to ensuring security in Defi by identifying loopholes and threats in smart contracts codings.
KYC(Know your customer) analysis is another primary service from Solidproof. When doing KYC, Solidproof analyzes the platform’s customers, their transactions, and the possibility of a terrorist on money laundering threat.
A combination of auditing and KYC services will help ensure that the customers are protected and the Defi project remains safe from legal issues.
The Autotool Feature Coming Soon
Solidproof is coming up with a new feature, the Autotool, which will revolutionalize the processes within the network. The Autotool feature will primarily focus on digitizing the entire system, specifically the audit of the projects.
Generally, the processes of auditing could often last weeks if only manual energy is used. However, by introducing the auto audit feature, Solidproof makes it easy to complete audits while not compromising security.
Furthermore, with the Autotool feature, the audits will prove more efficient and friendly. The full version of the Autotool feature will be launching towards the end of September. From there onwards, auditing smart contracts will become even easier and more accurate.
Achieved Partnerships: Unicrypt, Etherlite, and Pathfund
Solidproof has been making partners with top Defi launchpad projects to ensure they access a bigger market. One such partnership is with Unicrypt, a BSC-based launchpad platform, providing decentralized launchpad services. Unicrypt has a vast collection of upcoming projects launching every month; Solidproof has many Defi projects to audit.
Pathfund is another project which just recently partnered with the Soldiproof network. The Pathfund network is a launch that puts high commitment to the security of all projects. As such, it invites Solidproof to audit some of their upcoming Defi projects before their launch.
Another partnership is with the Etherlite network. Etherlite is a blockchain network created to provide a more efficient platform for building and hosting Dapp. The network is compatible with Ethereum’s EVM to make work easy for developers. Solidproof partners with Etherlite to ensure the Dapps launched on the platform in the future are safe for investors. It’s a fact that Solidproof will have a broad market to work with.