Pallet: BSC zkEVM ecological star project

At the end of March, the new product BSC zkEVM created by BSC officially released the mainnet Beta version.

 

At the end of March, the new product BSC zkEVM created by BSC officially released the mainnet Beta version. BSC zkEVM is a Layer 2 Rollup solution with three main components including Trusted Sequencer, Trusted Aggregator and Consensus Contract deployed on Layer 1.

 

Among them, the trusted sequencer component is responsible for receiving Layer 2 transactions, sorting and generating batches, and then submitting them to the storage slots of the consensus contract in a sequential manner. When the trusted sequencer executes batch transactions, it will also broadcast the transaction to the Layer 2 network node; the trusted aggregator component calculates the Layer 2 status according to the Layer 2 transaction batch of the sequencer, and obtains the information submitted by the trusted sequencer to Layer 2 batches, and generate zero-knowledge proofs to prove the computational integrity of the batches. The logic of the consensus contract will verify the zero-knowledge proof to prove the correct execution of the transaction batch, so that zkEVM can inherit Layer 1 security.

Pallet has been quickly compatible with the main network layer of BSC zkEVM. At present, the construction of the main nodes has been completed, and 9 major node centers have been built around the world, connecting with 10,000+ early round customers.

DEFI System design

The main functional modules of PalletSwap include exchange aggregator (Pallet Aggregator) and cross-chain pool (Pallet Hub). The Pallet aggregator is deployed on the mainstream blockchain to help users find the most effective transaction price and route in the corresponding network. The cross-chain pool provides users with cross-chain transaction services based on the Poly Network, and supports users to add liquidity through tokens from different chains to earn cross-chain transaction fees and Pallet rewards.

 

Vault

Pallet Vault is an intelligent income aggregator, based on the DeFi protocol that automatically selects the optimal revenue strategy configuration. It can help investors obtain the best returns in the market with one click, thereby greatly reducing the entry barriers for ordinary investors, while reducing the loss of income caused by information asymmetry.

Pallet Valut will automatically place the assets in the Pallet Vault pool in the DeFi agreement with the highest yield after auditing and screening the contracts of each DeFi platform and standardizing the rate of return. Moreover, when the rate of return in each agreement fluctuates, the Pallet Vault agreement will automatically adjust positions and transfer funds. This series of operations are completed on the chain through smart contracts, which are completely open and transparent, and allow the Vault pool The funds in China are always placed in the DeFi agreement with the best yield in the market.

 

Users: Users who connect to PalletSwap for mining and trading through encrypted wallets.

Pallet Relayer: The agent of the user and the contract on the chain. According to different needs of users, authorized agents can find the most suitable transaction path through PalletSwap.

Swap: As the core interaction mechanism of the system, it receives requests from agents and realizes transaction settlement.

Aggregator: Responsible for aggregating multiple sources of liquidity on the chain to find the best price and transaction path for users.

Cross-chain Pool: A cross-chain asset transaction pool based on the Poly Network cross-chain protocol to realize the free exchange of assets on different chains.

Liquidity Providers: Liquidity providers, mainly including the following sources of liquidity:

On-chain algorithms from different DEXs are automatically market makers.

An LP market maker that provides liquidity for cross-chain pools.

cross-chain pool

Pallet Hub is composed of a cross-chain asset pool and a cross-chain protocol based on Poly Network. It uses Curve's StableSwap invariant to optimize the performance of the algorithm that provides liquidity for stablecoins. The advantage of this is to provide liquidity providers with very low price slippage and greatly reduce free losses. In terms of implementation, traders can simply exchange mainstream assets across chains; liquidity providers can deposit single or multiple assets in a cross-chain pool and pledge LPs to obtain Pallet rewards. Compared with the traditional Hub mechanism, this design allows users to exchange cross-chain assets without asset deposits and withdrawals, which greatly reduces the threshold for user operations/transactions

Licensing and Compliance

, initiated by the BELE Foundation, aims to become the safest and most efficient application wallet.Everyone has a passion for innovation. Few have the stomach for it. We are engineers, investors and traders consumed by building the future of web3. Welcome. Look around.

At Pallet, We are committed to protecting our users’ assets, and we take this responsibility seriously. Our values guide us to make decisions that meet our community’s needs and have a lasting impact on society.

Our operations are conducted competently and transparently, and we ensure that our work is of equal level to global compliance standards in the digital asset space. We have strong working relationships with affiliates to ensure our information is not only accurate, but also secured. Pallet offers services and products to users that reflect our industry-leading security and credibility.

Canada MSB License

Regulatory Authority: Financial Transactions and Reports Analysis Centre of Canada

U.S. MSB License

Regulatory Authority: The Financial Crimes Enforcement Network (FinCEN), U.S. Department of Treasury

 

AUSTRAC Digital Currency Exchange service provider and Remittance service Registrations

Regulatory Authority: Australian Transaction Reports and Analysis Centre

 

Virtual Asset Exchange and Wallet License

Regulatory Authority: Republic of Estonia Financial Intelligence Unit

Compliance Management

Our dedicated team ensures that Pallet follows strict compliance standards and protocols. Team members are to follow a comprehensive compliance management framework, which is overseen by senior management, to identify, assess, implement, and evaluate effectively.

It is Pallet’s responsibility to examine and identify any associated risks to or regarding the exchange platform, and follow through with any necessary remediation. External risks may refer to those that may arise from outside circumstances, such as incorrect information published by third-party advertisement from Pallet affiliates. Internal risks refer to those that may arise from within our organization, such as unauthorized, inappropriate, illegal, or unethical actions taken by employees.

In conjunction with assessments and annual compliance reviews, we work with regulators to ensure our compliance standards adhere to regional requirements.

Let us join this great computing task to push forward human development and make the future more exciting!


 

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