PES framework
PES framework is a new paradigm that lays the foundation of decoupled settlements, and provides a direct bridge between DeFi and Compliance.
Last updated
PES framework is a new paradigm that lays the foundation of decoupled settlements, and provides a direct bridge between DeFi and Compliance.
Last updated
For the next wave of Web3 users and protocols, regulations are coming and there's no running.
Promise: Analogous to authorisation in payment processing, users issue conditional transaction on dBOOK, locking their assets until fulfilment
Execute: After the promise is recorded on the network, the desired state update logic is executed via a smart contract on any chain or a cloud-based script
Settle: Final stage in PES framework, wherein after the state-update is completed, a request is sent to dBOOK that settles the funds between the counterparties
Promises incorporate various conditions, including:
Account & Asset Whitelist
KYC/AML checks
Transaction expiration time
These conditions serve as pre-transaction prerequisites on the network level, ensuring transactions are executed only if they comply with the rules set defined in the Promise.
This innovative approach facilitates secure and flexible asset management, closely mimicking the implementation of TradFi order flow, while incorporating automated compliance checks and an additional time-bound element.
Promises empower businesses with easy compliance, allowing them to implement essential checks such as KYC, AML, and account whitelisting as per their requirements.
The PES framework distinguishes itself from earlier solutions like , a smart contract-based suite, through on-chain integration with leading third-party services such as , , , along with AI-driven account screening and indicator capabilities.