PureFi Multichain Subscriptions: Enhancing Compliance for Modern DeFi Protocols

PureFi Writer
PureFi
Published in
2 min readJul 8, 2024

In the rapidly evolving landscape of decentralized finance (DeFi), the need for robust on-chain compliance solutions has never been greater.

PureFi, a leading on-chain compliance protocol, addresses this critical need through its sophisticated smart contract SDK and subscription contract. However, as DeFi protocols increasingly operate within multichain environments, PureFi has recognized the necessity to adapt and expand its services accordingly.

The Challenge

Modern DeFi protocols are inherently multichain, operating across various blockchain networks to leverage the unique advantages each provides. However, this multichain nature poses significant compliance challenges. PureFi’s current subscription model, while effective, needs to evolve to support these complex, interconnected ecosystems fully. This evolution is essential to meet the needs of PureFi’s diverse and growing customer base, ensuring they can maintain compliance across all chains they operate on.

The Solution

To address these challenges, PureFi is undertaking a significant upgrade to its subscription contracts. The goal is to enhance these contracts to support multichain DeFi protocols, thereby expanding PureFi’s capabilities and reach. This upgrade will include integrating with new blockchain networks such as Arbitrum, Base, and Optimism. By doing so, PureFi aims to increase the number of supported chains, offering more comprehensive compliance solutions for its users.

Key Components

The upgraded subscription system will feature a new smart contract designed to operate seamlessly across multiple blockchain networks. This contract will integrate with the PureFi issuer service, ensuring a streamlined compliance process for all transactions. Additionally, the new system will support payments using the $UFI token, leveraging its utility strength to provide a more efficient and user-friendly payment solution.

Timeline

The development of these enhanced subscription contracts is well underway, with an expected completion date set for August 2024. This timeline reflects PureFi’s commitment to delivering a robust and reliable solution that meets the evolving needs of the DeFi community.

Conclusion

By upgrading its subscription contracts to support multichain DeFi protocols, PureFi is positioning itself at the forefront of on-chain compliance solutions. This strategic enhancement will not only address current compliance challenges but also pave the way for future innovations in the DeFi space. As PureFi continues to expand its supported chains and integrate new technologies, it remains dedicated to providing its customers with the tools they need to operate securely and compliantly in a multichain world.

About PureFi Protocol

PureFi Protocol allows dApps to fully comply with local and global regulations while preserving decentralization and user anonymity.

Developed by AMLBot in partnership with Hacken Foundation to provide a full-cycle solution for crypto asset analytics and AML/KYC procedures for the Web3 infrastructure.

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