SolidProof currently prides itself in serving over 350 projects. Thus, they adapted their business to the altering market conditions and fine-tuned it accordingly.
SolidProof Addresses the Lack of Trust in DeFi
DeFi has attracted a fair share of scams, owing to the number of rug pull cases that have flocked the industry time and again. Developers may create a liquidity pool with his newly minted scam token and another legitimate crypto, such as Ether. When people come in, they begin purchasing it in exchange for ETH, held for a set period. Malicious founders will then remove the ETH from the liquidity pool, leaving only the worthless token.
It can also occur during the vesting period. During this period, smart contracts typically lock a certain amount of funds until contract conditions are met. Vesting is the process of releasing them after the period has ended. Vesting demonstrates that the team is committed to the project and will continue its development. With SolidProof, knowing the developers before investing promotes credibility and trust.
SolidProof also offers reliable Know Your Customer (KYC) protocols that could build up a project's credibility. It gathers information about the project development team. Hence, it reassures users that they are legitimate and well-intentioned. This process provides investors with a high level of confidence. Investors have trust that the project's founders will not attempt a rug pull and flee with their funds, as happened recently with Squid Token. Thus, investors can freely participate in the presale.
In addition, the firm does KYC on clients to authenticate the users' identities for holder analysis. It also analyses if they offer a danger of money laundering. Furthermore, SolidProof assists processes in determining if potential investors are obtaining cash from reputable sources. As a result, both the investor and the creator get a fair project launch.
SolidProof also tackles privacy issues by storing client data on...