Shyft Network Partners with Polkamarkets To Build Opt-In Compliance Primitives
Bridgetown, Barbados — We are excited to announce our partnership with Polkamarkets, the DeFi powered prediction market built for cross-chain information exchange and trading, to provide opt-in compliance primitives for forecasting, and yield farming. With this integration, Polkamarkets will be able to offer a regulatory-compliant prediction market DeFi structure to Ethereum and Polkadot users.
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 their product and service offering, ensure stability, adaptability, optionality, and capture a wider audience for their prediction markets and yield farming.
”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, Polkamarkets CEO.
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.
“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, Co-Founder, Shyft Network Inc.
About Polkamarkets
Polkamarkets is a DeFi-Powered Prediction Market built for cross-chain information exchange and trading where users take positions on outcomes of real world events–in a decentralized and interoperable platform based on Polkadot.
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.
To learn more, visit www.shyft.network
