CardStarter, the world’s leading incubator, launchpad and insurance program for Cardano projects will host the IDO for Avarta Network.
Avarta aims to redefine trust in Decentralized Finance(DeFi) and Web3.0 via a unique three layered approach towards authentication. Each layer is designed to address challenges pertaining to security, over-collateralization in DeFi and regulatory constraints respectively.
On the topic of security, Avarta has developed a biometric-secured multi-signature wallet aggregator. This eliminates the need for private keys or passwords that are often a target of hackers or are simply misplaced. To provide military grade security, the Avarta wallet is powered by a patented security protocol that combines biometric authentication with unique mobile device usage behavior captured via machine learning. The wallet will also support Ethereum, Binance Smart Chain and Solana, allowing users to store their digital assets and track DeFi transactions under one roof.
Decentralized finance remains one of the most significant developments in the blockchain space to date. Nonetheless, it is not immune to the highly volatile nature of crypto assets. As a result, loans issued on DeFi lending platforms are often over-collateralized to mitigate the risks assumed by lenders. The Avarta protocol will feature a trust scoring system to combat over-collateralization in DeFi lending. The system will be useful in differentiating a user’s risk profile based on their full transaction history. Individuals that have demonstrated good investment practices would be offered better collateralization.
International money laundering laws like the Travel Rule requires certain information pertaining to fund transfers and transmittals to be passed forward between participating institutions. Due to the permissionless nature of blockchain applications, DeFi protocols are unable to maintain the records necessary to fulfill the requirement of such regulations. To address the issue of compliance, Avarta’s authentication protocol combines user generated transactional data with information from numerous third-party validators to give users a digital identity. Platforms can then request this information from users to remain compliant. This service is also packaged as an SDK that can be integrated with DeFi applications that would like to manage their own identity authentication process and whitelisting.
Avarta’s goal is to build an authentication layer that is highly individualized, secure and private to address the main obstacles faced by users and projects in the blockchain space. We, at CardStarter, are extremely excited about this partnership and are proud to play a role in bringing this project to fruition.
CardStarter is the first incubator, launchpad and insurance program for projects being built on the Cardano network. The CARDS platform is a unique and dynamic launchpad, connecting projects to early supporters and a network of key partners. The Cards Accelerator Program (CAP) team works with each project individually to establish the right connections and map marketing strategies, establishing the foundation for long term success.
CardStarter is also differentiated by its charge to protect its supporters. CARDS provides unbiased third-party audits of every project’s code and protects IDO participants with an in-house insurance program. CardStarter is proudly partnered with X21 Digital, BlockSync Ventures, Moonwhale Ventures, Genesis Shards, Plethori, Fractal, PARSIQ, Scryptic Tech and Longtail Financial. Once fully built, CardStarter will be an all-inclusive platform with a decentralized exchange to complement the current offerings. CardStarter also aims to be a nurturing force in the Cardano ecosystem, with hackathons and project development support being a major focus of the roadmap.
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Avarta protocol deploys a three layered solution to address authentication and identification issues in the DeFi space. The security layer is centered around a biometric-secured multi-signature, multi-chain wallet that safeguards every transaction. Avarta’s compliance layer features a validation mechanism that combines transactional data with third party information that helps Dapps remain compliant. The differentiation layer addresses overcollateralization in DeFi via Avarta’s Trust Scoring mechanism to offer users collateralizations that match their risk profiles.
Avarta is partnered and backed by the likes of X21, Andromeda Capital, GHAF Capital Partners, Maven Capital, CRT Capital and Magnus Capital.