Avarta Public Round Launch on Lithium
Redefining Trust for DeFi and Web 3.0 Applications
Introduction
Avarta is a multichain platform that reimagines trust in the “trustless” world of Decentralised Finance (DeFi) and Web 3.0.
Avarta offers various solutions to a number of key problems in current DeFi applications by leveraging digital identity, biometric features, and device data. Avarta has a seriously impressive team, an established advisory board, and some well known backers and partners such as Maven Capital and the United Kingdom’s National Cyber Security Centre.
Problem
Avarta has identified three current key issues in the DeFi space:
(1) In an attempt to make blockchain technology as safe as possible, wallets require lengthy and complicated passwords and seed phrases. Safeguarding and remembering these passwords and seed phrases can be incredibly tedious, especially when holding multiple wallets. Worst case scenario, these passwords and seed phrases are lost along with their assets.
(2) Decentralised loans are over-collateralised, i.e., too much collateral has to be put down against any single loan. This means, that capital is not optimally allocated, resulting in a large waste/misuse of resources.
(3) Platforms are finding it increasingly difficult to stay compliant when dealing with cryptocurrencies, especially due to money laundering concerns.
Solution
Avarta has built a multichain, multifactor authentication ecosystem to leverage biometrics in a decentralised manner. With the use of Avarta’s platform, the three above challenges can be easily addressed:
(1) Avarta allows its users to consolidate their private keys and seed phrases within a single Avarta wallet. This wallet does not require passwords or seed phrases and can be unlocked using multi-layer biometric features.
(2) Avarta allows you to create a unique, secure identity that stores your data and full transaction history—this information is then used to create a trust score. This trust score allows you to prove that you are a reliable investor, lender, or borrower. You can however determine when and how to expose this information, giving you full control over your data.
(3) Due to the permissionless nature of blockchain applications, DeFi protocols cannot maintain certain records necessary to comply with numerous regulations. Avarta’s authentication protocol combines user generated transactional data with information from numerous third-party validators to give users a digital identity, which can be used by platforms to remain compliant.
Raise Details
Public Sale
Date: Tuesday, May 24th: 18:00 BST — Wednesday, May 25th: 18:00 BST
Raise: $50,000
Price: $0.10
40% at TGE, linear vesting over 1 month thereafter (i.e. 15% weekly vesting)
Website: https://www.avarta.io/
Telegram: https://t.me/AvartaOfficial
Twitter: https://twitter.com/AvartaNetwork
Discord: https://discord.com/invite/G7vMK2r3Mk
Medium: https://medium.com/avarta-network
GitHub: https://github.com/AvartaDev
