Article Summary, Automatically Generated By AI
Summary of pNetwork
- pNetwork v3 features a Relayer who proposes issuance or redemption of pTokens.
- The proposal undergoes a challenge period for legitimacy verification.
- If found illegitimate, the proposal can be cancelled by Sentinels and Guardians.
- pNetwork v3 is fully decentralized, avoiding MICA regulation, KYC, and AML requirements.
- pNetwork seeks to prevent illegal activities or use with illicit funds despite decentralization.
Numbers and Figures:
- None mentioned in the text.
Case Studies/Anecdotes/Examples:
- None mentioned in the text.
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About pNetwork
pNetwork is a decentralized system that enables the creation of a cross-chain decentralized finance (DeFi) ecosystem, allowing diverse blockchain networks to interoperate seamlessly.
pNetwork v3 pioneers an innovative, optimistic approach, bolstered by multiple provers, to revolutionize its
architecture. It boasts a
Relayer
who initiates the proposal for the issuance or redemption of a pToken. This proposal is then subject to a challenge period, during which its legitimacy is meticulously verified, optimistically mirroring the user’s swap request. Should the proposal be deemed illegitimate, it can be revoked after this period by designated actors known as Sentinels and Guardians, who serve as vigilant overseers.
As a fully decentralized entity, pNetwork v3 operates beyond the purview of
MICA
regulation, thereby circumventing the need for KYC and AML compliance, which in turn enhances the overall user experience. Notwithstanding its decentralized nature, pNetwork proactively explores measures to prevent its utilization for illicit activities or in conjunction with tainted funds.