Introducing Molecule Protocol
Molecule Protocol is a set of composable middleware tools that run on-chain, enabling configurable real-time compliance support. With Molecule Protocol, your applications can define, issue, revoke, monitor, and verify information about users in real-time.
Hello, world!
Titans Finance is a group of curious & mission driven engineers, researchers and entrepreneurs who have been building traditional & crypto-native products for over a decade.
Pulling from our team’s engineering experience from both the traditional finance and crypto space, we’ve developed a thesis of how these two worlds will converge. Both will integrate with one another over the coming years, as we solve the existing problems that have made this bridging process so difficult to date: Permissionless ecosystems don’t compose easily with a permissioned world.
Our mission as an organization is clear: to onboard the next billion users to crypto by providing products & services that make crypto-native products & technologies more composable with traditional financial systems, institutions and real world assets. To achieve this mission, we are proud to introduce the world to Molecule Protocol — A middleware protocol that enables compliance for any smart contract based product or ecosystem.
DeFi has innovated quicker than any other traditional fintech or larger financial entity ever could by building in transparency.
This could be referred to as ‘testing in production’. While it may sound innovative, in short, it actually entailed skirting on security and compliance. This in part helped drive a dangerous product development cycle that in 2021 alone, contributed to over $2.66 billion in user losses due to hacks, vulnerabilities and errors in smart contract code.
As if the financial losses weren’t enough, the industry has continually come under increasingly hostile rhetoric from regulators. Many crypto-native companies in short order fall under guidelines issued by FATF, classifying them as a ‘Virtual Asset Service Provider’ or VASP for short. Additional regulations normalizing the concept of an ‘unhosted wallet’ vs a ‘hosted wallet’, as well as the implications of the travel rule, which stems from the Bank Secrecy Act, have been getting more visibility and attention. Broader and greater enforcement is imminent as the SEC has begun staffing their recently opened division tasked specially for crypto enforcement.
As it stands, many companies & protocols are on the wrong side of these rules.
Molecule Protocol provides an on-chain compliance layer by gating access to smart contracts, ensuring that only validated addresses are able to interact with the smart contracts and associated wallets. This creates a compliant, walled garden of liquidity and users. This is just the first of many steps in the industry’s path to apply much needed self-regulation within the crypto space. If not, we run the risk of uninformed politicians and bureaucrats taking a heavy handed approach to top → down regulation within the space.
Fortunately, Titans Finance has built a robust product ecosystem leveraging Molecule Protocol which is ready to deploy today, and covers all of the critical DeFi primitives including swaps & lending.
While at the time of writing, the market may look bleak and the future uncertain, we share a collectively positive outlook for the future of the industry. This viewpoint stems from multiple cycles of experience in the crypto space, as well as knowing that there is no closing Pandora’s box.
These times are for building and engaging.
The companies & protocols that survive this transition from a wild west, ruleless ecosystem to a more structured, rule-based ecosystem, with greater transparency & accountability will create a fairer & safer environment to build within. Innovations from crypto-native technologies will be integrated within our everyday lives without the end users even needing to be aware that they are actually crypto users. People don’t consider themselves ‘internet users’, it’s just an assumed part of someone’s everyday life. This is the epitome of mainstream adoption. Molecule Protocol will provide the tools for builders, existing protocols & services alike to integrate more easily within the legacy frameworks that already exist by providing a compliance layer to meet regulatory requirements & protect against bad actors. This infrastructure further enables an acceleration of users & capital adoption within the space.
We are moving from a wild west of experimentation and rapid progress, to a more established rule-based ecosystem.
The crypto industry is following a similar adoption path that peer to peer (P2P) file sharing technology took; with the early innovators continually pioneering new ways of communication and content sharing between people. The early players such as Kazaa and Napster were eventually dissolved or faded into relative obscurity as media industry incumbents banded together and used the courts to establish a rule-based framework that eventually enabled the content streaming giants of today.
Overlay where the crypto industry is today in comparison and the resemblances are undeniable, providing some optics into where the crypto industry will likely head within the decade. The pioneers that can navigate the turbulent waters during this transition will see their products integrated into all facets of daily life. The next billion users will be onboarded into a rule-based ecosystem where the risk of loss is negligible and perpetrators are held to account.
Molecule Protocol’s role is to make this transition easier for both institutions looking to defend against disruptors, as well as for users looking to participate in this brave new world.
Connect with us:
- Website: https://www.moleculeprotocol.io/#
- Twitter: https://twitter.com/MoleculePro
- Email: hello@titans.finance
