Compliance isn’t everyone’s cup of tea, but it’s essentially unavoidable, so let’s make it as smooth as possible.

At Astra, we are interested in all things crypto; that’s why we cannot help but take notice of the regulatory changes that the industry faces. In fact, we wanted to go one step further and make sure the DeFi platforms were not only prepared for increased compliance measures but were already tackling the challenges head-on. It’s already been suggested that DeFi platforms should “self-police” until solid regulations eventually come in. With the recent announcement of the second-largest hack in the decentralized finance market, amounting to around $320 million, you can understand why there is pressure on the industry to address the current weaknesses.

It’s no secret that the market has been inundated with the opinions of many different groups. Essentially, and unsurprisingly, authorities and governments are big advocates for increased regulation, while crypto and DeFi users are generally opposed to the measures. Cryptocurrencies and DeFi were created to bring financial tools to the masses, and many believe that decentralized platforms will inevitably become more centralized by bringing in regulations. But that doesn’t have to be the case. There is a way for DeFi to incorporate similar rules imposed on traditional financial services and products while still offering attractive interest rates to the masses. But most importantly, with carefully devised regulations and innovative decentralized compliance platforms like Astra, we can protect honest users and keep bad actors out of the market.

Ultimately, the beauty of DeFi lies in its technological innovation, primarily brought about by smart contracts facilitating many of the transactions. This is the main reason that crypto platforms can offer such attractive yields. But with so little transparency, it is also a playground for criminals and fraudsters. DeFi is still viewed as too high-risk for many institutional organizations in its current state, as hacks and scams still dominate crypto headlines. At Astra Protocol, we recognize that something needs to change to catapult this exciting new financial market into the mainstream. That’s why we have created a decentralized platform that allows DeFi platforms to weed out people with bad intentions without compromising their integrity. Of course, there will always be reservations and often some friction between the innovators and the regulators, but Astra is here to smooth the path between them.

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Our mission is to equip the DeFi world with a fully decentralised compliance layer. Unlocking the future growth of the industry. www.astraprotocol.com

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Astra Protocol

Astra Protocol

Our mission is to equip the DeFi world with a fully decentralised compliance layer. Unlocking the future growth of the industry. www.astraprotocol.com

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