FAQ

What is Singularity?

Singularity is a permissioned institutional DeFi access layer that provides access to popular protocols for institutional on-chain participants with commercial confidentiality. Users will have their wallet addresses obfuscated while leveraging existing DeFi liquidity. In addition to accessing existing external DeFi pools from Singularity, users can swap and transfer within the Singularity contract, such as conducting OTC trades without the need for an escrow.

Why use Singularity?

Wallet Address Obfuscation: User wallets are not revealed on-chain. The Singularity contract address is the single 'user' on-chain.

Compliance: Before entering the Singularity contract, all users must pass KYB/KYC requirements similar to those of an exchange or traditional bank.

Liquidity: Users can leverage existing DeFi on-chain liquidity by executing transactions in the integrated DeFi pools.

Multi-Asset Support: Singularity will support any ERC20 and ERC721 assets.

Wallets and Custody Support: Singularity supports MPC and multi-signatory wallets, such as Fireblocks and Wallet Connect.

Transacting within Singularity for Complete Obfuscation: Users can complete OTC swaps or transfers inside the Singularity contract, thereby obfuscating both the transactions and wallet addresses on-chain.

Who can use Singularity?

Singularity is accessible to any individual or entity that passes through KYC/KYB and wishes to maintain commercial confidentiality with their on-chain transactions. Institutional users of Singularity include liquid funds, venture funds, asset managers, and OTC desks.

What are some of the common use cases for Singularity?

Any on-chain transactions that require commercial confidentiality include all on-chain DeFi transactions, such as swaps, liquidity provisioning, staking, lending, and borrowing via external DeFi pools.

It also covers periodic wallet management to maintain wallet hygiene, OTC swaps and transfers within Singularity, and claiming vesting tokens inside Singularity for complete commercial confidentiality.

What is the KYC/KYB verification process?

As the first step to onboarding into Singularity, users are required to verify themselves off-chain through a third-party KYC/KYB provider. Users may select a variety of documents for verification, which the third-party provider will screen to ensure they meet the requirements for the jurisdictions in which the users are registered.

Will wallet addresses be checked on-chain?

Yes, as part of the onboarding process, in addition to passing off-chain KYC/KYB, user wallets will undergo on-chain analysis to ensure they are not on any sanctioned or blacklists.

Where is my KYC/KYB data stored?

KYC/KYB data is stored in the third-party provider's encrypted internal off-chain database. There is no link between users' data and their on-chain wallet addresses, thereby protecting users' on-chain anonymity.