Should QuickSwap Integrate With Quadrata?

As the blockchain industry continues to gain adoption and further mature, compliance and adhering to regulatory frameworks is becoming increasingly important for any decentralised projects and ecosystems.

Luckily, seamless and advanced solutions are now available for dApps to scan and reduce the risk that sanctioned and potentially malicious wallets that may be performing illegal activities are interacting with dApps. Some of the most recognised and top projects in the space (such as Uniswap, Aave, Circle, WazirX, Bitget, and Mercado Bitcoin) have already adopted wallet scanning technologies that do this, and more projects are moving towards embracing this movement.

QuickSwap is always looking to stay ahead of the curve, with the goal to become more compliant and regulatory friendly.

Introducing Quadrata: a Web3 native solution that offers a privacy-preserving, sybil-resistant Web3 Passport and wallet screening service to bring identity, compliance, and reputation to dApps.

QuickSwap is looking to integrate Quadrata’s technology (only on the DEX frontend), which will scan and assess user wallets interacting with the DEX based on their own unique risk scores. This will ensure that certain wallet addresses, specifically those detected to be high risk or sanctioned, are prevented from entering/interacting within the QuickSwap ecosystem. Note that their screening technology would only apply to those trading $1,000+ (this amount could be lower based on the package QuickSwap would agree to purchase from Quadrata - more information in the “Agreement & Fee Structure” section below) and associated with a certain wallet screening score, to be discussed in more detail below.

In this governance proposal, the dragon community will discuss and vote on whether QuickSwap should integrate with Quadrata to increase the DEX’s global regulatory compliance standards by scanning, detecting, and prohibiting specific wallet addresses connected to potentially sanctioned or illegal/malicious activities. This would ensure that QuickSwap remains compliant with current legal and regulatory frameworks/requirements.

TL;DR: -Top protocols and dApps such as Uniswap, Aave, Circle, WazirX, Bitget, and Mercado Bitcoin have already adopted wallet scanning technologies to stay up to date with legal/regulatory frameworks and remain compliant, suggesting that the blockchain ecosystem is moving further in this direction -QuickSwap is looking to integrate Quadrata’s Web3 native solution that offers a privacy-preserving wallet screening solution on the DEX frontend to automatically scan and assess user wallets interacting with the platform based on their own unique risk scores -Their technology will ensure that any detected wallet addresses connected to certain compliance and regulatory issues (i.e. sanctioned or interacting with illegal websites) cannot interact with the QuickSwap frontend -This governance vote is for the dragon community to decide if QuickSwap should integrate Quadrata’s solution, which would be an important and essential move forward to allowing the DEX to be more compliant with legal and regulatory requirements -This Snapshot vote will run until Wednesday, July 24 at 5:00 PM UTC Once you’ve read this entire blog post, make sure to visit the official QuickSwap Reddit discussion forum to share your perspective with your fellow community members