We all know that the HAPI Oracles’ main purpose is to help detect and trace illicit funds moved by the nefarious actor’s addresses.
After watching a video from TechLead, it got me thinking about how HAPI can expand and increase its scope with its oracle.
With anonymity, the use of Cryptocurrency/Blockchain has its drawbacks, it is currently not user-friendly due to many losing funds to scams (ie. posting crypto addresses on fake YouTube channels to send funds) and never being able to know if the addresses associated in the scam are still live or not.
Given that there are currently no safeguards with wallet providers in place to ensure that users are not interacting with a fraudulent contract or outflow users address. It is imperative to find a solution to help dummy-proof this area of risk which will lessen many users’ future experiences in the space.
- As HAPI is primarily known to blacklist fraudulent addresses to its Oracles which ends up being shared to Bridges, CEXs and DEXs, it would be great to have these real-time data also used by wallet providers on their end to alert users whether or not the contract or outflow address is associated with fraudulent cases.
Example of how it would work:
- MetaMask as an example would be linked up with HAPI API.
- User wants to send funds to an outflow wallet but gets notified in real-time by MetaMask that this is a fraudulent contract address.
- The notification by MetaMask shows a score of 10, which shown on ToolTips on the MetaMask user interface, shows it has been blacklisted for stealing funds.
- Incorrectly identifying contract/wallet addresses, where they would have to prove it is false to the oracle.
Advantages for HAPI:
- Adding another layer of usage for the HAPI Oracle and helps integrate with Wallet providers, allowing not only for B2B, but B2C as well.
Let me know what you all think of this future potential proposition. Would love any sort of input as I’m sure there are many great ideas here to help improve the HAPI Oracle and improve its reach.
This is a no brainer.
We already have the infrastucture, why should DEX’s and CEX’s be the only ones profiting from the Hapi oracle ?
This would make the whole crypto market a safer place.
I always get nervous when sending crypto, this would help so much with that.
Scammers would really need to change their whole game.
We should definitely look into this proposal!
Imagine falling for a scam, and right as you send the funds, the Hapi oracle notifies you: " This adress has a risk rating of x …and so on." You could then visit the website and it exactly says and shows you why this adress is affiliated with scams.
Maybe a wallet needs to hold a small amount of Hapi to be able to use this feature.
The idea is not new and we are ready integration-wise to be linked up with Wallet Providers. The problem comes not from the technical side in this case but partnership one and actually getting those wallet providers integrated.
- Wallet providers are wary (justifiably so) when it comes to any kinds of integrations especially those relatively unknown.
- It’s hard to find the relevant person to talk to and to, atleast, start persuading/pitching the idea in the first place
- They don’t care until ACTUAL regulations come into play
That’s the 3 main points that, at this stage, hinder any development in this regard.
I understand that some of view might have a bit of distorted view of how things are set up (which is okay since none have had any particular experience being in the space) and you can’t just approach MetaMask by barging into their DMs or connecting via email. This sort of stuff are done through connections and connections only. Not through cold-call attempts
Makes absolute sense, that’s why it is so important to partner with other entities and build a network.
The HAPI Near Aurora connection plus the Solana partnership could proof to be vital in the long run.
Boca Chica in that sense was a genius strategic move - people tend to look at it to just make quick gains with brand new projects launching but BC could help HAPI in a more impactful way by building connections and getting more and more people to notice and hopefully, appreciate the HAPI protocol project.
Really like this idea, no doubt something or the team to look into and consider.
Thank you for your insightful response @Jumbo it is greatly appreciated. Building it is not the issue as I see that as well, it is definitely more to do with the Business Development side, as the hardest thing currently is finding the correct contact to actual partners, then on top of that trying to persuade them to integrate as such.
A possible counter to this issue of depending on Wallet providers could be to launch and do R&D into developing a native Wallet compatible with EVM or other blockchains and integrate the idea ourselves. The interface of the wallet with great UI can be powered by the HAPI Suite of products, it will not only serve as an MVP for other wallet providers to view and assess, but be used by many as well that value security.
I know proposing as such can eat away at the overstretched capacity of the team, but when funds and capacity allow, maybe something for the HAPI Team to look into.
TLDR: Build our own Wallet and allow for it to be powered by the HAPI Protocol