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About the Defyre Project

The Defyre Project is a revolutionary initiative focused on providing on-chain security and risk data for ERC20 tokens, allowing users, developers, operators, Exchanges and Automated Market Makers (AMM) to assess the risk of tokens they own, or in the case of Exchanges/DEX/AMMs, preventing malicious actors from publishing tokens on their platforms.

The architecture is based on traditional oracles networks, but rather than collecting and pushing price information to the blockchain, it focuses entirely on security data points which include security audit information, smart contract verification, risk scores, and many more.

As a user, our Defyre Data Platform will allow anyone to monitor tokens they own for security related information and assess the overall risk of their portfolio based on a variety of data points. These include data points gathered during security audits and through our public community members.

Exchanges/DEX/AMMs, on the other hand, will be able to query security related data points and risk scores directly on-chain to prevent malicious tokens from being listed on their platforms, and also educate users of their platforms of the associated risks of buying/swapping specific high risk ERC20 tokens with real-time data.

As part of our 2021 launch, we are focusing on 4 core initiatives that will be deployed on the Binance Smart Chain (BSC) Mainnet and later followed by the Ethereum Mainnet. Our first deployment will occur on the Binance Smart Chain (BSC) due to lower gas costs and other factors.

Smart Contract Security Audits / ERC20 Risk Scoring

The Defyre Project is deploying the world's first blockchain initiative focused on empowering individual participants of DeFi projects to audit the security of any smart contract, at any time, without depending on developers to get them started. This is the first initiative of it's kind, ever, that allows any token holder to audit the token they are holding without having to wait for the developers to release their security audit reports. Through our oracles (further explained below), it also makes data related to security audits and risk scores available directly on the blockchain for Exchanges/DEX/AMMs to query through other ERC20 contracts using standard solidity interfaces, effectively allowing them to prevent potentially malicious tokens from being listed in their respective platforms.

Learn more about Smart Contract Security Audits and ERC20 Risk Scoring here.

Defyre Sentinel Data Aggregation Oracles

The Defyre Sentinel Data Aggregation Oracles will sit as the centerpiece of our ecosystem, as one of the most advanced blockchain security projects developed. Our oracles collect and aggregate security (overall risk, audit results, static code analysis risk scores, etc.), price, liquidity, and many more data points regarding specific smart contracts, and brings that information directly back into the blockchain through an ERC20 contract that holds the information. This will allow any smart contract on the Mainnet to interact with the data, and for DApp development teams to create intelligent security-driven applications that minimize their user's exposure to malicious tokens on the blockchain.

Learn more about Sentinel Data Aggregation Oracles and some of it's use cases here.

Defyre Data Platform

The Defyre Data Platform will provide users with a web-based dashboard to monitor their portfolio, with aggregated information collected from our Sentinel Data Aggregation Oracles and direct access to published security audits, giving users with insights into the risks associated with every supported asset in their wallet. The platform will also provide users with the capability of enabling near real-time alerts via email, SMS and push notifications when security, price volatility and liquidity events are detected.

Learn more about our Data Platform here.

Defyre Utility Token (DFUT)

Finally, the Defyre Utility Token (DFUT) is the utility token that allows us to drive all of the initiatives for the project, powering and funding our entire ecosystem of products and on-chain services. The token allows for users to vote on governance issues of the ecosystem, vote on initiating or challenging security audits, earn rewards through staking, and trade the token like any other asset on the blockchain.

Learn more about the Defyre Utility Token here.

Each one of these are details in the the next few sections of this document.