It’s all about to create a Peer to Peer (P2P) DAPP to allow change your’s NEAR tokens in a easy, secure and fast way.
A Decentralized Wallet that will provide P2P like Binance or Airtm where you can change your available Crypto’s in local money, fiat, other cryptos. Using your services online that are available already.
Issue & Solution
At the moment people ask where they can change their NEAR and do not get a way to do it quickly and transparently.
This P2P feature will ease the process where people come into crypto, will help them in daily basic sending money/remittances and NEAR protocol will get a lot of transactions and volume helping REF Finance with liquidity from investors that will come with the mass adoption.
We must take into account several points of utmost importance that will guarantee the security and transparency of the portal.
- User reputation.
- The use of KYT (know your transaction). Is more about banks / financial institutions having a complete granular data centric information about the transactions done by the customer.
- The use of KYC (Know your client). Are a set of standards used within the investment and financial services industry to verify customers, their risk profiles, and financial profile.
- Smart contract to guarantee the transparency of each request.
- Broker Near account that will be responsible for showing the available balance.
- There will be a maximum amount of transactions depending on the amounts to be mobilized.
- The user login into the near-dex, they can login using the near wallet account.
- Then, click on P2P going to the Offers. It is a search for offers of FIAT vs CRYPTO.
- The user can filter the available payment options like local bank, zelle, airtm, american bank, paypal, etc.
- In the list of offers you will see the minimum and maximum amounts per user additional to the reputation.
- Open new transaction and wait comunication via mail, chat and text messages.
- The user wait for that messages, check the deposit and close the transaction.
- Finally gives feedback on the transaction.
- The user can leave their available balance on the platform for future operations.
If the transaction does not culminate for any reason within the established time range, it will move to a mediation process where it is necessary to intervene to complete the process successfully and avoid any possibility of fraud.