zkMe Partners with Dextr to Elevate Crypto Exchange Privacy Standards

In a landmark development for the cryptocurrency industry, zkMe is thrilled to announce our strategic partnership with Dextr, a pioneering account-abstraction based non-custodial exchange. This collaboration marks a significant step forward in our mission to ensure the privacy and security of user’s identities in the crypto space.

Introduction

As DeFi applications, exchanges, and a growing list of verticals are put under the scrutiny of regulations, user privacy is becoming an increasingly important aspect of the web3 journey online. Despite the crypto industry being heavily focused on privacy, the incoming laws are requiring services such as exchanges to KYC their users, exposing them to risk of identity theft, security breaches, or at the very least, leaving a bad taste in the user’s mouths. Dextr, a pioneering exchange focused on building a tailor-made platform for their users’ tastes, will be leveraging zkMe’s privacy-preserving compliance track to ensure that needs and preferences are not misaligned.

Dextr’s Innovation

Dextr employs a unique trading model by seamlessly integrating an on-chain order book with a dynamic automated market maker (Dynamic AMM). This approach allows liquidity providers (LPs) to allocate liquidity to multiple markets using a single token. Dextr also features a reputation-based ranking system within the Dynamic AMM that allows LPs to earn up to 100% of the trading fees accumulated on their liquidity position. Furthermore, Dextr offers a bridgeless cross-chain order settlement mechanism, significantly enhancing overall efficiency.

By incorporating Smart Accounts (Account Abstraction), Dextr grants users genuine ownership of their assets while fortifying security through features like social recovery, on-chain multi-factor authentication, and decentralized inheritance.

zkMe Integration

With zkMe’s zero-knowledge based identity oracle, Dextr will be able to manage their user compliance stack. More than just KYC, the services will consist of:

• zkGeolocation
• zkPoC (Proof of Citizenship)
• AMLMe (Anti-Money Laundering)
• KYT (Know Your Transaction)

zkGeolocation checks the user’s GPS location without revealing their location — if the user is within a predefined area, they will pass the check without having to reveal their coordinates. zkPoC, AMLMe, and KYT are in a similar vein — the underlying data is not revealed while checking whether the user meets predefined conditions. zkMe is able to keep this whole privacy-preserving process compliant through a patent-pending technology, ensuring that user data is not stored on a single central server, while providing recoverability in legal proceedings. This gives rise to our tagline: anonymous until proven guilty.

Synergies of zkMe and Dextr

Two innovative platforms are coming together to not only improve user experience, but to ensure that the ethos of blockchain is maintained through the changing regulatory landscape. With web3’s focus on privacy and decentralization, the decentralized exchange is leveraging private KYC to use the newest method to improve user experience, such as account abstraction, bridgeless cross-chain swaps, all the while ensuring best price discovery. As new synergies are found within the crypto space, we look forward to providing the best and newest value wherever it can be found for the user, and look forward to seeing the impact of such partnerships.

About Dextr

Dextr is a non-custodial exchange that pioneers self-custody smart accounts for ultimate ownership, liquidity, and control. Leveraging a unique system of of account abstraction, Dextr is engineered to address challenges related to self-custody, liquidity inefficiencies, and governance.

Website: www.dextr.exchange

Whitepaper: https://dextr.gitbook.io/whitepaper/

About zkMe

zkMe builds zk Identity Oracles for truly decentralized & anonymous cross-chain credential verifications.

No personal information is ever processed by anyone but the user themselves. Data leaks & misuse by the service provider are impossible; full interoperability & reusability result in a superior ID solution. zkMe’s is the only FATF compliant KYC provider to be fully decentralized, offering a full suite of products from anti-bit/anti-sybil, to KYC and more.

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