SAN FRANCISCO, USA, 23rd September, 2021,
The first on-chain decentralized exchange on Solana with permissioned access based on digital identity, Solrise DEX Pro, launches today.
Solrise Finance, a Solana-based decentralized investment platform, and Civic Technologies, a leading innovator in digital identity solutions, have partnered to launch the first on-chain decentralized exchange on Solana with permissioned access based on digital identity. With growing regulatory scrutiny, a permissioned DEX sets the stage for more checks and balances within the DeFi ecosystem.
“This is our way of bridging the world of institutions to DeFi without resorting to centralization, thanks to Civic,” said Filip Dragoslavic, Co-Founder of Solrise. “With Solana already being the most familiar DeFi ecosystem for traditional finance, we expect to become one of the primary hubs for institutions that wish to jump into the ecosystem.”
The new DEX, named Solrise DEX Pro, is built on Project Serum, an on-chain decentralized exchange that utilizes Solana’s throughput to offer a traditional order book experience. Civic Pass, Civic’s identity verification for DeFi or any dApp, and Solrise DEX Pro together create a permissioned environment that is more suitable for institutional players. Solrise DEX Pro will receive support from one of the largest digital asset firms in the space, Alameda Research, a key investor in the Solana ecosystem. The firm will be providing initial liquidity for the DEX as well as ongoing support.
