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Insidera

Bringing TradFi Insider Data to DeFi for Decentralized Dispute Resolution

Insidera

Created At

ETHBogotá

Winner of

🏗 Polygon — Deployed on Polygon

Project Description

The protocol resolves disputes by acquiring first-hand evidence from anonymous Insiders in TradFi companies such as payment systems. The evidences are sent to the decentralized courts where people get trust-less justice service. Decentralized P2P exchanges, on-ramps and many more dapps need permission-less dispute resolution to be able to work in a truly decentralized manner. One of the biggest bottlenecks for crypto adoption is the centralized on-ramps and P2P markets. Decentralized on-ramps and P2P markets need decentralized dispute resolution to prevent abuse of power by regulators etc.

Multiple innovative approaches are used in Insidera:

  • Using manually sourced data over API based solutions that add censorship risk
  • Quests: Anonymous and encrypted questionnaires that verify Insiders' access to data for each payment method
  • Justice mining and Fact Rooms: The way witnesses engage with protocol to verify an Insider's claim to have data access. Withnesses are the users of one payment method. They are incentivized to make micro TradFi transactions to each other in a private way using the same method. Based on the transaction results, the Insider' claim can be verified
  • Soul-bound NFTs working as criminal records for bad actors in the court (a malicious dispute sides gets SBTs so that other people know with whom they interact in the future

How it's Made

The project is a decentralized and unstoppable insider data provider for web3. It works where APIs don't. Its role will be more significant if regulators force TradFi to disconnect from DeFi. P2P exchanges and decentralized on-ramps are needed to battle agains censorship. but such products will face disputes. How can a decentralized ramp or exchange resolve disputes in a private and secure way?

Anonymous insider data the answer! We're building a protocol to safely bring such data to web3.0 for good. The protocol uses gives incentives to the crypto community to find and verify insiders working in their favorite payment methods in TradFi. Once insiders pass carefully designed Quests, they can vote on disputes and provide evidences to guardians who make decisions in the so called "DeCourt or Decentralized Court". Each role has its own checks and balances to play rightfully in this social game.

Appeal makers can be third-party protocols who need disputer resolution service or individuals who request dispute resolution on the protocols interface. DeCourt charges DAOs a fixed 5% fee for judging.

Technologies:

  • The Graph for indexing smart contract data and better UX
  • Web3Auth to bring a user-friendly experience for average users who don't like keeping seed phrases
  • Push Protocol for enabling notifications among court members so that the case can be resolved faster
  • Polygon for providing a low-cost and fast experience for users
  • Chainlink for randomizing questions and witnesses in Insider Quests
  • Wallet Connect for enabling pro users to use their wallet of choice instead of email
  • ENS to provide more user-friendly and beautiful experience for anyone connecting to
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