Allowlist

The Allowlist is the gatekeeper to most of the functionality of USYC. The wallets associated with AML'ed and KYC'ed entities receive a Role that entitles them to hold and transfer the token.

The USYC Smart Contracts queries the Allowlist to verify the caller of a transaction has the appropriate permissions to perform a transfer or to receive the token.

Sanctions Check

In addition to checking that a wallet is permissioned, the Allowlist also performs OFAC sanctions checks by querying an on-chain oracle for matches to sanctioned addresses. The oracle is maintained by Chainalysis.

System Halt

The Allowlist also has the ability to freeze all transactions involving USYC. As every type of action involving USYC verifies the Role of the sender, the Allowlist is positioned to revert all transactions. In the event there is suspicious activity, Hashnote has the ability to prevent any transaction from being completed. Only after the situation has been resolved, will the Allowlist be put back into a state that allows the token to be transacted on.