PureFi Receives Grant from Aurora To Bring Our Products To Their Network

PureFi Receives Grant from Aurora To Bring Our Products To Their Network

We are excited to announce that we have received a monetary grant from Aurora, an EVM running on the NEAR Protocol, to expand to their network and tap into a new market of DApps.

PureFi is committed to building a DeFi ecosystem that is both safe and compliant, while also preserving the privacy of its users. We are therefore excited to announce that our efforts have received further support through a grant from Aurora, an EVM running on the NEAR Protocol.

This grant will allow us to bring our privacy-preserving decentralized solutions to Aurora’s platform, providing builders with an easy way to integrate our protections against malicious assets and allowing their projects to become fully compliant.

Together with Aurora, we are one step closer to creating a DeFi ecosystem that meets the highest standards of security, compliance, and privacy.

🌌 What is Aurora

Aurora is a decentralized platform that allows developers to execute Ethereum smart contracts on the NEAR Protocol. This allows developers to use the popular programming language Solidity and port existing Ethereum applications to Aurora’s platform.

Aurora offers fast and affordable transaction speeds, with an average transaction fee of $0.02 and transaction finality in as little as 2 seconds.

It is also highly scalable, able to handle 50x more transactions per second compared to Ethereum.

In addition to its technical strengths, Aurora also supports and collaborates with innovative DeFi projects through its grant program and is a great partner for projects like PureFi looking to succeed in the DeFi world.

⚙️ Grant Details

In the coming days we will be launching our On-Chain AML & KYC Framework on the Aurora network, opening our solution to over 200 new applications and potential partners.

Unlike other solutions on the market, our framework not only allows for AML and KYC checks to be performed on-chain, but also maintains a level of decentralization through the integration of multiple trusted providers.

In addition, our framework allows users to reuse their KYC across all applications that integrate our solution, saving time and effort. In the future, we also plan to introduce privacy-preserving technology Zero-Knowledge Proofs, which will allow users to disclose information anonymously, further enhancing the experience.

Slava Demchuk, PureFi CEO comments:

“This partnership with Aurora is a major milestone in our mission to make DeFi safe and compliant for all. We are looking forward to showcasing our solutions to a larger audience and driving adoption and growth.”

But this is just the beginning of our partnership with Aurora, and we are committed to continuing to develop products that aim to make the crypto space more attractive to institutions and eliminate malicious actors.

👨‍🌾 Farming Pools

And we’ve saved the best for last, in the coming weeks, we will be launching AURORA/AURORA farming pool on our platform, funded by all of the grant tokens received from Aurora.

This pool will allow users to stake AURORA and earn additional AURORA in return, while also supporting the adoption and growth of our On-Chain AML & KYC Framework.

In addition to ensuring compliance with the FATF Travel Rule and MiCA requirements, our AURORA farming pool will be one of the first permissioned pools in existence, following the success of UFI pools.

Non-KYCed users will be subject to a $3,000 deposit limit, but this can be raised by completing the KYC process. Our AML solution will also be automatically applied to all deposits.

Our AML solution will analyze activity from other EVM-compatible blockchains, allowing us to provide the most accurate risk score possible.

We believe that the launch of these farming pools will be beneficial for all parties involved. By showcasing the capabilities of our solutions to a wider audience, we hope to drive higher adoption and growth. And at the same time, these pools will provide value to all the users who participate.