Phase 1: POST - Start posting data on-chain
The first step to becoming Travel Rule compliant is to create a profile ("trust anchor" account) on the Shyft Network and to start posting attestations (Phase 1.) This enables VASPs to demonstrate best efforts Compliance and positions them well with respect to the Sunrise Issue.
| Attestations represent an intent to withdraw to a particular wallet address and are discoverable based on that same address. Phase 2 involves listening for attestations on addresses that you own and engaging with originator/sender VASPs to agree how to share KYC data (i.e. Phase 3). |
Key considerations for VASPs
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As a VASP, you need to retrieve your jurisdiction id and create a corresponding Shyft User for your customers (who wish to withdraw) before you can post an attestation
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VASPs can either post an attestation for every withdrawal request OR post an attestation for every withdrawal request to a new wallet address. This is up to each VASP to decide.
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If, as a VASP, you wish obfuscate user activity on-chain, you can create a new Shyft User everytime a given user submits a withdrawal request. This would come with the additional burden of having to map many Shyft Users to a single customer. This is up to each VASP to decide.