Fractal ID and Beamswap are joining forces to enable trusted, secure, and compliant project launches on Moonbeam network.
Fractal ID is happy to announce our partnership with Beamswap, a decentralized exchange (DEX) on Moonbeam with an automated market maker (AMM), providing liquidity and peer-to-peer transactions.
Fractal ID is supporting Beamswap by implementing Fractal ID to add an identity layer that brings trust, security & compliance to Beamswap’s community, and reduces the regulatory hassle for projects to launch new web3 solutions from scratch.
The current state of launchpads
Traditional venture capital is still slow to fund open-source and web3 projects. Hence, the community is stepping in to enable a more versatile and inclusive ecosystem where new projects can flourish. However, due to the anonymous nature of users on DeFi platform and the consequent illicit activities, authorities in the US and Europe are worried and are pushing regulatory standards that compromise the privacy-preserving nature of the ecosystem.
Here’s where Fractal ID x Beamswap partnership comes into play!
Fractal ID x Beamswap partnership
Beamswap and Fractal ID are joining forces to help new projects that want to contribute to a multi-chain future and conduct their token launches in a frictionless and compliant way on the Beamswap Docks IDO Launchpad.
As Beamswap is providing a leading DEX/DeFi hub on Moonbeam, Fractal ID is providing crypto-native KYC that bridges compliance and data gaps through its Fractal ID product and its self-sovereign identity solution deployed in the Polkadot/Kusama ecosystem.
This partnership will bring significant benefits to Beamswap users and future IDO projects, including:
- Enabling new projects to seamlessly tap one of the broadest communities of DeFi-ers for decentralized crowdfunding with access to 900k+ pre-verified Fractal ID users who can be seamlessly onboarded with a click of a button.
- Reducing the regulatory hassle for projects to launch new web3 solutions from scratch while ensuring data privacy and integrity.
- Streamlining the process for future Beamswap Dock events by leveraging the reusability features of Fractal ID credentials.
Thus, Beamswap’s users will be able to gain back data ownership of their credentials on their wallet using Fractal’s “trustless” technology and will enjoy a permissionless way of sharing their data and disclosing chosen credentials.
“Our partnership with Fractal ID will streamline the KYC process for Beamswap’s users for all our IDO events, easily verify their KYC status with a number of platforms utilizing Fractal’s network, and allows users to securely maintain ownership of their credentials with the trustless system Fractal ID provides”
Tim | CEO of Beamswap