First Solana-Based Decentralized Exchange to Secure Permission: Solrise Finance and Civic Collaboration
Solana Welcomes a New Decentralized Exchange: Solrise DEX Pro
Launch of the Permissioned DEX on Solana
Solana, a high-performance blockchain network, and Civic Technologies, a leading digital identity verification solution provider, have collaborated to introduce Solrise DEX Pro, the first on-chain decentralized exchange (DEX) on Solana that offers permissioned access. Launched on September 23, 2021, the platform aims to bridge the gap between traditional finance institutions and the decentralized finance (DeFi) ecosystem.
Solrise DEX Pro, built on Project Serum, offers a traditional order book experience. It utilizes Solana's impressive throughput capabilities, providing a decentralized exchange on the network with permissible access. The integration with Civic's our website verification solution, Civic Pass, contributes to the creation of a suitable environment for institutional players, which can tap into Solana's extensive on-chain liquidity while maintaining a familiar and regulated environment.
Notably, Alameda Research, a major digital asset firm, has pledged support for Solrise DEX Pro, providing initial liquidity and ongoing backing for the platform.
Bridging Institutions to DeFi
Filip Dragoslavic, Co-Founder of Solrise, spoke about the collaboration, stating, "Solrise DEX Pro represents our attempt to introduce the world of institutions to DeFi, without compromising on decentralization, thanks to Civic." He believes that Solana, already well-known to traditional finance players, will likely become a significant hub for institutions wanting to enter the DeFi sector.
Chris Hart, CEO of Civic, commented, "A permissioned DEX opens up the DeFi ecosystem to more participants, including institutional investment. Civic's technology builds a secure environment that protects digital identities and our new financial systems while promoting the industry's growth."
Qualified Access
Solrise DEX Pro employs Civic Pass for user verification, ensuring that participants meet the platform's strict standards for eligibility before enabling trading. Users are then directed to Civic's our website verification technology for a smooth and secure onboarding process. Solrise DEX Pro and Civic Pass combined create a controlled environment that caters to institutional players, allowing them to participate in the broader Solana ecosystem while adhering to regulatory requirements.
The platform is immediately accessible to investors, subject to qualification restrictions, with the exception of users residing in the United States and sanctioned countries. A demo is also available for those interested in exploring the platform's functionalities.
[1] https://blog.civic.com/civic-integrates-solana-attestation-service/[2] https://cointelegraph.com/news/solving-kyc-on-decentralized-finance-platforms-with-the-solana-attestation-service[3] https://chainutility.medium.com/civic-is-integrating-solana-attestation-service-both-for-identity-and-off-chain-data-verification-11e56602962e
- The collaboration between Solana and Civic Technologies is aiming to bring together the worlds of traditional finance and decentralized finance, leveraging technology to create a suitable environment for institutional players to access the growing DeFi ecosystem on Solana.
- Solrise DEX Pro, the first on-chain decentralized exchange on Solana, is utilizing cutting-edge technology to provide a decentralized trading platform with permissioned access, bridging the gap between traditional businesses and the decentralized finance industry.
