Transparency Through Blockchain

To enhance transparency and trust during the centralized phase (CeFi) of the platform, EarnPark is exploring multiple approaches to ensure users can verify the integrity of platform operations. Our initial concept involves implementing a hash-based mechanism for the accounting ledger, where current accounting data is hashed with the previous hash and recorded on the blockchain. This method guarantees transparency by allowing users to verify the integrity of the ledger at any time.

For this purpose, we are evaluating the potential to use an existing blockchain and customize it to meet platform-specific requirements. Validators, potentially drawn from our token-holding community, will be responsible for validating transactions and earning rewards in the form of PARK tokens from platform fees for their contributions.

In addition, we are considering an alternative approach by introducing oracles as a key component of EarnPark’s ecosystem. Token holders within the community could take on the role of oracles with special permissions, such as read-only access to CeFi platform data. These oracles would validate key metrics, such as proof of reserves, and securely transmit this information to users, enhancing transparency and accountability. In recognition of their contribution, oracles could receive rewards in the form of PARK tokens.

Both validators and oracles represent unique economic and operational roles within the EarnPark ecosystem, aligning with our mission to establish a trusted, transparent, and community-driven financial platform.

Further details and technical specifications for these solutions are under evaluation and will be defined at a later phase (TBD).