🔠Global Params

Global Params: Setting the Ecosystem's Standards

FrogPay's commitment to creating a user-centric and adaptable platform is exemplified in its Global Params. These parameters act as the backbone of the protocol, dictating the overarching usage and fee structures that ensure a seamless and equitable experience for all participants.

Recognizing the importance of community-led governance, FrogPay empowers its users through a DAO (Decentralized Autonomous Organization) structure. This allows the community to dynamically adjust Global Params to meet evolving needs and market conditions.

The Global Params cover a wide range of platform functionalities, including:

• Transaction Limits: Implementing daily, weekly, and monthly transaction thresholds for users on the free tier to maintain network health and availability.

• Time-lock Duration: For peer-to-peer payments on the free tier, a default time-lock of 4 hours is established to provide a balance between transaction security and convenience.

• Profile Creation: Outlining the process for users to establish their identity within the FrogPay ecosystem.

• Address Registration: Enabling users to register their blockchain addresses, linking them to their profiles for easier management and enhanced security.

• KYB and KYC Certifications: Defining the steps for businesses and individual users to obtain Know Your Business (KYB) and Know Your Customer (KYC) certifications, ensuring compliance and fostering trust.

• Juror and Analyst Registration: Detailing the criteria and registration process for users to become jurors or dispute analysts, contributing to the platform's robust dispute resolution framework.

• KYC Provider Registration: Setting standards for KYC providers to become registered issuers, ensuring a trusted and verified pool of participants.

These parameters are foundational for the operational aspects of FrogPay and are also indicative of the platform’s flexibility. By allowing the community to adjust these parameters, FrogPay ensures that it remains responsive to the needs of its users and stays at the forefront of the ever-changing landscape of decentralized finance.