Paycrest provides decentralized payments infrastructure, supporting both businesses and people. Under the hood, they leverage Shield3 for scanning transactions for a wide range of variables.
Paycrest provides decentralized payments infrastructure, supporting both businesses and people. Using Paycrest, you can initiate a payment via API, or through their gateway smart contract on multiple networks. Paycrest then aggregates liquidity, and distributes funds between the liquidity providers and initiator.
Shield3 is used for accessing a the wide range of networks that Paycrest operates on. The Shield3 RPC makes it simple to broadcast transactions across multiple networks. Shield3 currently supports:
Paycrest runs a series of checks against transactions they send to their escrow contract. These checks include verifying the addresses involved are not sanctioned by OFAC, using data gathered by Shield3 and Chainalysis. Addresses are also verified against the database of labelled addresses provided by Forta's scam detector.
Paycrest uses Shield3 to monitor the activity on their smart contracts, and receive alerts whenever something is awry. Lastly, reporting is a crucial component of remaining compliant. Using Shield3's UI, Paycrest easily generates the reports they need.
