Using Civic’s identity verification service Civic Pass, Solrise Dex Pro will allow large institutional capital allocators to participate in DeFi without fear of counterparty risk. Initial liquidity for the DEX will be provided by Alameda Research.

For those who are new, Solana is the fastest blockchain in the world and the fastest growing ecosystem in crypto, with over 400 projects spanning DeFi, NFTs, Web3 and more. Solana is powerful for developers and fast for everyone. Solana’s scalability ensures transactions remain less than $0.01 for both developers and users. Solana is all about speed, with 400 millisecond block times. And as hardware gets faster, so does the network.

Solrise DEX Pro is expected to perfectly compliment the existing Permissionless infrastructure on Solana, thus creating a parallel ecosystem for institutional players. Core Solrise dApps are still set to be Permissionless.

Solrise DEX Pro is the first protocol built as part of our ecosystem of permissioned protocols – called Solrise Pulse. They are hoping to expand this to cover other protocols from our ecosystem soon.

Civic Pass has made it possible to develop a unique KYC framework that allows DeFi products to remain completely decentralized while significantly reducing counter-party risk.

“Just connect your wallet with Solrise Pulse. You’ll be prompted to go through KYC with Civic. And then you’ll be issued a Civic Pass for your wallet. Then, you can access services inside Solrise Pulse.”

Solana is positioned to lead the way in the mass-adoption of DeFi and in order to do that, they need to remove the barriers that keep people out of DeFi.  Civic Pass permits Solrise Pulse to seamlessly integrate KYC, and the same mechanism can be used to allow other protocols building on Solana to integrate KYC into their service.

Starting with Solrise DEX Pro, built in partnership with and on Serum, they are set to expand their suite of services on offer to allow regulated institutions to access more and more of the DeFi landscape.

They intend to keep expanding their suite of services working with Solrise Pulse in order to allow users access to a full suite of DeFi products.

Community response:  Why use a DEX with KYC instead of FTX? Decentralized but with KYC? Something is wrong here.

Looking at Solrise and realizing that it has a market cap of only $42 million is literally mind blowing.

Identity is key to everything, not just crypto, but now in DeFi and NFT. Institutional enabling.