.png%3Falt%3Dmedia%26token%3D3a5136b7-f55b-43b7-b91e-dd3d25bcecf9)
.png%3Falt%3Dmedia%26token%3D3a5136b7-f55b-43b7-b91e-dd3d25bcecf9)
🧩
Ecosystem Overview
Ecosystem Illustration
At a high level, the Verso ecosystem can be divided into four components:
These comprise of traditional financial service providers (e.g. Insurance, Lending provider) as well as DeFi service providers (e.g. Yield product). These product providers onboard their product onto Verso using one of Verso's product-specific smart contracts. This includes product distribution criteria, pricing scheme, etc.
Compliance validators perform a critical role in assessing a product's legitimacy from a regulatory perspective. Compliance validators earn a reward for every product being sold through the Verso network. In turn, have to meet specific eligibility criteria and are required to provide a reputational stake of 1,000,000 VSO.
Product validators verify each new product in terms of functionality and other aspects prior the product becoming available to the public. Product validators perform an important step to maximise consumer protection and they are rewarded with a % of every product being sold through the Verso network. In order to become eligible as a product validator, a user has to stake 10,000 VSO and complete an onboarding process. Additional staking is required for each product being validated.
Verso is continuously adding new distribution channels connecting to traditional finance and DeFi. Currently, we focus on banks. digital wallets (FIAT) and commerce platforms with more channels in planning. Each channel meets specific requirements so that all respective parties can seamlessly embed products on Verso into their user journey. A set of filters help displaying the most relevant product to each of their users.
The ecosystem is continuously evolving and we plan to add more community roles and passive reward opportunities in the coming development phases.
Last modified 1yr ago