IAMX x Axo
IAMX is very excited to announce a partnership with the highly-anticipated and groundbreaking trading platform: Axo. Though Axo has been around for some time, the protocol was recently rebranded from its original and widely familiar name, Maladex. This partnership is a natural fit for both parties, as IAMX aims to provide a self-sovereign identity solution to all, and Axo aims to provide a decentralised and democratic trading protocol, where users can be assured of transaction safety, transparency, and regulatory compliance.
Axo
Axo is so much more than a standard Decentralised Exchange (DEX). Building on the principles of Decentralised Finance (DeFi), Axo intends to revolutionise trading through novel features like programmable swaps, which are autonomous code that can execute any order type. Users will also see efficiency upgrades, and improved revenue generating streams, and the ability for users to significantly reduce impermanent loss. For more information, visit the Axo website and check out the whitepaper.
IAMX
IAMX is a token-based Self-Sovereign Identity and authentication protocol that empowers individuals with the means to own their identity. Adhering to the strictest of regulatory standards for identity protection, IAMX builds on the foundational principles of SSI to provide a robust and secure system where individuals are able to take control and manage their identity. Users of IAMX will realise significant time and cost savings through novel approaches to identity management and ecommerce transactions, like 1-click fulfilment, which are legally binding and maintain local regulatory compliance. With users in control of their identity data, time-consuming processes like Know Your Customer (KYC) or Know Your Business (KYB) become near instant, highly secure transactions.
The Partnership
This partnership means users of both protocols will benefit. With the breadth of user base across both protocols, the partnership brings highly efficient KYC and KYB processes to an institutional level. Axo users will have the ability to utilise one of IAMX’s identity solutions to enable trading between KYC/KYB enabled accounts. This is by no means mandatory, but will open the doors for professional and institutional investors. Until now, it was very difficult for institutions to participate in DeFi due to regulatory compliance risks, but through IAMX’s voluntary identity management protocols on Axo, institutional participation becomes far more straightforward.
Perhaps the greatest benefit of this partnership is the fact that identity data remains in control of the holder. Because IAMX is a SSI solution, users determine who has access to their identity, and to what extent. This is distinct from legacy KYC processes, where a centralised body collects and validates required identity data. IAMX utilises Decentralised Identifier (DID) technology, where the user is the sole controller of the identity information. Every time access to identity is requested, the user may choose what data to share, and sign a DID-document in their wallet. It is this DID-document that provides 3rd party access to the chosen data, and it can be revoked at any time.
This partnership represents a significant step towards a decentralised future, where individuals are empowered over large, centralised entities, with the means to access financial services like those found within the Axo platform, and the peace of mind that comes with the ability to retain control over their own identity.
About Axo
Axo is a novel trading protocol. User defined trading conditions are expressed as programmable swaps — a trading oriented smart contract variant. Programmable swaps are flexible enough to express any trader’s intent, from simple orders to the most complex market making strategies.
Programmable swaps can be matched with each other, across any system that implements the Axo protocol specification. Each programmable swap operates independently of one another through blockchains while retaining synchronisation and interoperability between them.
About IAMX
IAMX is a token-based SSI and authentication system, enabling 1-Click Fulfilment transactions that are legally binding on the state/national level.
IAMX is the first-ever SSI solution to financially incentivise and reward the consumer each time they use their identity online.
The vision of IAMX is to empower everyone on Earth to realise their human right to have an identity, with a mission to protect the human right of every individual to hold, control, and own their personal identity.
IAMX allows the Holder to own their identity. Building upon the foundation of SSI, IAMX empowers the Holder to manage and control their identity. IAMX is working closely with members of the Sovrin Foundation to ensure the shared principles of SSI are maintained.
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