Introducing the DeFi Passport

How to apply for a DeFi Passport

The first phase of the DeFi Passport launch has arrived. In this first iteration of our product, users will be able to claim their DeFi Passport, and then participate in exclusive farms hosted on the ARCx.money app. 

We feel like the DeFi passport should be available to as many users as possible and have lowered the barrier to entry by a substantial amount from our initial thoughts. The goal is to have the DeFi passport in as many hands as possible, so we have established an initial price of 250 ARCX

If you are eligible for a DeFi Passport, you will also be able to stake your ARCx tokens to receive stARCx and begin single-sided farming beginning from early next week.

How to Apply for a DeFi Passport

The guide below provides an overview of what you need to do to apply for a DeFi Passport on the arcx.money app.

  1. Screening

To apply for a DeFi Passport, you must first pass protocol screening. The initial parameters that will determine whether an on-chain identity is worthy of being indexed and receiving a DeFi Passport are as follows:

  • 30 Days of wallet history

  • Interacted with more than 5 unique address

  • Spent at least 0.01 ETH on gas

You can apply for screening by selecting “Apply Now” as demonstrated below.

  1. Application

If you have passed the initial screening, you must now stake 250 ARCx tokens to proceed to the next steps. Staked ARCx will be locked up for 1 year.

  1. Waitlist

Once your ARCx tokens have been staked, there will be a 24-48 hour waiting period for the protocol’s underlying screening algorithm to securely review and authorise applicant identities.

  1. Claim your Passport

Once the 24-48 hour waiting period has elapsed and you have passed the initial screening, you will then be able to claim your DeFi Passport!

  1. Success!

Now that you have claimed your passport, users can either begin staking & farming on the protocol. Users can also apply custom skins available in the ARCx OpenSea store.

What's Next?

The second phase of the DeFi Passport Launch will see us launch the ARCx Credit score in conjunction with a new stablecoin called ARCUSD - a new borrowing and lending platform.

More information around the ARCx Credit Score, ARCUSD and the borrowing and lending platform will be released in the coming weeks. 

Rewards for stARCx stakers will begin early next week!

Stay up to Date

To get more information, or to keep up to date with upcoming releases, please be sure to follow our official channels:

Twitter: https://twitter.com/arcxmoney

Discord: https://discord.com/invite/skwz6je