Can we all agree that Proof Of Reserves is not good enough:
1. Relies on an auditor that can be in kahoots with you
2. It's from an outdated, stale snapshot
3. Can be gamed via borrowing funds right before the snapshot
4. Doesn't help with off-chain assets
We now see the truth that’s been lurking beneath the surface…
Centralised black boxes advertise good product & UX but can easily hide internal chaos.
A 👩✈️ can’t safely fly a ✈️ if the gauges can’t be trusted
Verified on chain data is the only way
And it’s in our DNA 🧬
🧵👇
Important work being done in the name of usability and #Ethereum adoption with the launch of CANVAS Connect on testnet.
Nethermind is excited to be working with @canvas_defi and @StarkwareLtd on this next part of the journey.
Join https://t.co/V8xIp2mge0 today
CANVAS Connect Now Landing on Testnet 🛬
@canvas_defi brings the 🌎 gasless DeFi on Ethereum L1
Invest, Trade & Transfer - no gas, no surge pricing. All major L1 dApps✨
Built with @StarkwareLtd, natively on @FireblocksHQ
Join https://t.co/81OGl5Ina6
Mainnet? 👉🏻90 Days 🛫
Regulated #DeFi is inevitable. We won't achieve true mass-adoption of a better financial system without measures in place to prevent AML/CTF. The best way to balance KYC with privacy concerns is via zero knowledge proofs. My op-ed today: https://t.co/MglLs8bxf9
We've added @canvas_defi to the zkRollup Directory 🗃️
CANVAS Connect is a #Layer2 scaling solution that leverages StarkEx from @Starkware to batch transactions into a single proof, abstracting gas costs from individual transactions
#L222#DeFi#ZKRollups
We are happy to announce that @canvas_defi is building a DeFi Pooling service that will be powered by #StarkEx!
✅ Safe and secure Trading on L1
✅ Cost-effective gas prices of L2
DeFi Pooling - it’s coming 🚀