Polkamarkets Partners with Shyft Network to Build Opt-In Compliance Primitives
We are thrilled to announce Polkamarkets’ partnership with Shyft Network to build opt-in compliance primitives for forecasting, and yield farming. Integration with Shyft Network will allow us to offer a regulatory-compliant prediction market DeFi structure to Ethereum and Polkadot users.
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Polkamarkets & Shyft Network
Recent and upcoming regulatory developments are taking aim at DeFi projects and other Virtual Asset Service Providers (VASPs); thanks to this partnership, and the Shyft Network infrastructure, Polkamarkets will be able to build opt-in regulatory compliant primitives into our product and service offering. This will ensure stability, adaptability, optionality, and capture a wider audience for our prediction markets and yield farming initiatives.
Last year, Shyft Network announced a partnership with Polkadot to build a parachain based on Parity Technologies’ Substrate network, enabling Polkadot users to bridge identities from other networks. By partnering with Polkamarkets, Shyft Network takes one more step towards strengthening interoperability and decentralization in the prediction markets space.
”We are excited to be partnering with Shyft Network to provide a regulatory-compliant prediction market DeFi structure to Ethereum and Polkadot users. Compliance when it comes to blockchain based systems is in its early stages. We at Polkamarkets are committed to staying up to date not only on the regulatory side, but also on the technological side. This partnership will provide more RegTech tools to our compliance toolkit and enable us to have more robust compliance across a wider range of jurisdictions.” — Ricardo Marques, Co-Founder of Polkamarkets.
“We are more than excited for this particular partnership as it showcases the way Shyft Network can help decentralized projects overcome regulatory issues and offer incredible DeFi products, especially those as interesting and creative as the ones Polkamarkets is building. Through this partnership, we aim at building optionality and adaptability for our partners in the face of an ever-changing regulatory environment.” — Juan Aja Aguinaco, Shyft Network Co-Founder.
About Shyft Network
Shyft Network is a public protocol designed to aggregate and embed trust, validation and discoverability into data stored on public and private ecosystems, and facilitate information transfer between permissioned and permissionless networks. By incentivizing individuals and enterprises to work together, Shyft Network allows for the layering of context on top of data, turning raw data into meaningful information.
Polkamarkets is an Autonomous Prediction Market Protocol built for multi-chain information exchange and trading where users take positions on outcomes of real-world events–in decentralized and interoperable EVMs.