HAPI, a DeFi protocol, has announced intentions to collaborate with Chainalysis.
The two firms will collaborate on a variety of fronts as HAPI strives to become more than simply a DeFi standard. Both firms will gain from this collaboration.
It will contribute to the transformation of the whole blockchain space.
Independent investigative branch
HAPI will establish a new division called HAPI Labs.
This department will be an independent investigative branch that will deal with occurrences on a case-by-case basis. It will also take on some of Chainalysis’ cases.
This collaboration between HAPI, a DeFi-focused protocol, and Chainalysis, the top crypto intelligence and AML platform in the crypto industry, might have many effects.
HAPI’s approach to security in the DeFi domain is one of its defining characteristics.
Rather than relying on off-chain solutions, as most centralized solutions do, it has earned a place in the field of decentralized cyber security.
HAPI is intended to be a smart contract-powered solution that can be used with blockchain technology. Because of this feature, HAPI may be utilized in the DeFi business, such as on decentralized exchanges.
The end result is another decentralized cybersecurity protocol that can be utilized by any DeFi application.
Decentralization using HAPI is comprised of three important components, which are as follows:
- Intelligent contract-based solution
- An on-chain data set that is open to all
- Protocols that are governance-based, disintermediated, and ungoverned
Deliverables of HAPI
The HAPI protocol has a lot of practical applications.
The first is to set up a system for reporting and alerts. Anyone may report illegal participants to the database using such a system, and everyone in the network will be notified in real-time. It is possible to make the crypto ecosystem secure for everyone by simply staking HAP and reporting harmful individuals.
Another application of HAPI is to verify the address. HAPI now has a new check feature that allows users to verify addressees against persons who have been involved in harmful activity in the past. This assures that the address with whom you are about to communicate has not been involved in any illegal activity. To check this, one must pay a little price in order to do so.
Finally, the HAPI protocol is the only one that integrates directly into the DeFi environment and contributes to the prevention of money laundering. HAPI creates smart contracts that include the most up-to-date data from a variety of sources. They then use their own cybersecurity team, HAPI Labs, to effectively secure DeFi.