# 1. Project Positioning ## Background and Key Challenges we faced With the rapid development of blockchain technology and the Web3 ecosystem, global cryptocurrency transaction volumes have seen explosive growth over the past decade. According to Chainalysis' 2023 report, the total on-chain transaction volume has surpassed trillions of dollars, covering a wide range of scenarios from individual investments to decentralized finance (DeFi). However, this fast-expanding digital economy also brings significant challenges: On one hand, the anonymity and decentralization of on-chain activities provide unprecedented freedom and privacy for users, but they also create a breeding ground for illegal activities such as money laundering and tax evasion. On the other hand, governments around the world are strengthening regulatory efforts, requiring on-chain participants to meet tax compliance and identity verification requirements. This conflict between compliance and privacy has become one of the core bottlenecks for the development of Web3. Traditional on-chain identity and compliance solutions often fail to strike a balance. Existing KYC (Know Your Customer) processes typically rely on centralized institutions, forcing users to expose sensitive personal information to third parties, which violates Web3's principles of decentralization and privacy. At the same time, the complexity of on-chain transactions, such as cross-chain asset transfers and DeFi protocol interactions, makes tax compliance a challenge for both individual users and protocol developers. It is estimated that in 2022 alone, global tax losses due to incomplete cryptocurrency tax reporting reached hundreds of billions of dollars. Meanwhile, there is an increasing demand from users and developers for privacy protection, especially in the context of data breaches and excessive regulatory intervention. Mercury aims to become the world’s first on-chain compliance verification infrastructure based on Zero-Knowledge Proofs (zkProof), providing a trust solution that balances privacy protection and compliance needs, focusing on addressing two core pain points: on-chain identity verification and tax compliance. As blockchain technology and decentralized finance (DeFi) rapidly evolve, the Web3 ecosystem is reshaping the global economic landscape. According to the Chainalysis 2023 report, global on-chain transaction volumes have exceeded trillions of dollars, covering diversified scenarios ranging from individual investments to complex DeFi protocol interactions. However, this rapid expansion also brings notable challenges: * **The Conflict Between Privacy and Compliance**: The anonymity and decentralization of on-chain activities provide users with freedom and privacy but also create potential grounds for illegal activities like money laundering and tax evasion. Meanwhile, governments worldwide are tightening their regulatory measures, such as the IRS requiring cryptocurrency traders to report capital gains tax, and the European Union’s MiCA regulation enhancing on-chain activity oversight. * **Limitations of Traditional Solutions**: Centralized KYC processes require users to expose sensitive information to third parties, which conflicts with Web3’s decentralization principles. The complexity of on-chain transactions (e.g., cross-chain asset transfers, DeFi yield calculations) makes tax compliance a challenge for both individual users and protocol developers. * **Urgency of Economic Losses**: According to statistics, global tax losses due to incomplete cryptocurrency tax reporting reached hundreds of billions of dollars in 2022, highlighting the urgent need for compliance tools. Mercury was created to address these challenges by leveraging technological innovation to bridge the gap between privacy and compliance, providing a secure, efficient, and trustworthy compliance infrastructure for the Web3 ecosystem. ## Mission To build the world's first on-chain compliance verification infrastructure based on Zero-Knowledge Proofs, providing a trust solution for the Web3 world that balances compliance and privacy, and solving two key issues: **on-chain identity verification and tax compliance.** ## Mercury’s Core Values and Technological Advantages The core value of Mercury lies in achieving a balance between privacy and compliance through technological innovation, offering a multi-party win-win solution for users, protocols, and regulators. Specifically, its value is reflected in the following aspects: **On-Chain Compliance Tools**: Mercury provides a convenient tool for individual users, protocol developers, and government departments for on-chain identity verification and tax compliance through Verifiable Credentials (VC) and an on-chain tax labeling system, ensuring that on-chain activities comply with regulatory requirements. **Privacy Protection**: Based on Zero-Knowledge Proof (zkProof) technology, Mercury minimizes the exposure of user data, allowing users to verify their identity and transaction legality without disclosing raw information (e.g., transaction details or identity data), achieving a dual win for privacy protection and compliance needs. **Unified On-Chain Identity**: Mercury introduces the concept of a unified identity using TRID (Tax Residency DID) as an identity anchor, aggregating cross-chain addresses and behavioral data to create a trusted on-chain tax residency identity system, providing a one-stop identity management and tax compliance experience. **AI-Driven Transaction Analysis**: Through the FinTax module, Mercury combines AI-driven transaction nature analysis with user-provided annotations, constructing the most comprehensive on-chain transaction nature database, offering robust data support for tax reporting, on-chain behavior analysis, and compliance audits. Mercury's unique technological advantages further enhance its market competitiveness. On one hand, Mercury integrates manually annotated and AI-automated transaction nature data to create an industry-leading Verifiable Credentials (VC) database that covers mainstream blockchains (e.g., Ethereum, Solana, Polygon) and facilitates cross-chain data interoperability, providing a solid data foundation for on-chain compliance. On the other hand, the application of Zero-Knowledge Proofs allows Mercury to meet government requirements for tax and Anti-Money Laundering (AML) regulations while ensuring user privacy. For example, users can generate a proof of tax compliance through zkProof, demonstrating that their on-chain transactions meet tax requirements without disclosing specific transaction details. This technological innovation not only enhances compliance efficiency but also reduces the risk of user data leaks. Additionally, the FinTax module uses AI models to semantically and behaviorally analyze on-chain transactions, automatically identifying transaction types (e.g., capital gains, staking yields) and complementing user annotations, significantly improving the accuracy and convenience of tax reporting. ## Target Market and User Value Mercury's target market spans multiple key participants in the Web3 ecosystem, aiming to meet the needs of different user groups through precise market positioning. For individual users, Mercury mainly serves cryptocurrency holders, tax-sensitive traders, and Web3-native users with strong privacy needs. These users typically face the dual challenges of complex tax reporting and privacy breaches. Mercury provides one-click tax reporting through TRID and the FinTax module, enabling users to generate a VC for compliance proof without manually organizing cross-chain transaction records or worrying about third-party misuse of their data. For business clients, Mercury serves public chains and DeFi protocols that require compliance upgrades, such as Polygon and Aave. These protocols need to meet regulatory requirements while maintaining decentralization. Mercury offers VC verification services and compliance modules that can seamlessly integrate into their smart contracts, helping them achieve on-chain compliance without sacrificing user experience. For government clients, Mercury supports tax and financial regulators seeking on-chain regulatory solutions, such as the U.S. IRS and the EU's ESMA. Mercury’s regulatory interfaces and risk-scoring APIs help governments monitor risky on-chain transactions in real time while protecting user privacy, aligning with global regulatory trends. The core value that Mercury brings to different user groups varies in focus: * For individual users, Mercury simplifies tax compliance, reduces privacy risks, and allows users to engage more confidently in the Web3 ecosystem. * For business clients, Mercury provides modular compliance solutions that help public chains and DApps quickly meet regulatory requirements, while the revenue-sharing mechanism (VC verification income sharing) fosters ecosystem co-benefits. * For government clients, Mercury offers a transparent and trusted on-chain regulatory tool that enables efficient monitoring without compromising user privacy. ## Competitive Differentiation and Future Vision In the competitive landscape, Mercury has established a significant differentiation advantage through full-chain coverage and technological innovation. Existing on-chain identity protocols (e.g., Civic, SelfKey) focus on KYC services for individual blockchains and lack cross-chain identity aggregation capabilities, while tax tools (e.g., Koinly, TaxBit) primarily rely on manual user input and struggle to handle complex cross-chain transaction scenarios. In contrast, Mercury unifies cross-chain identities through TRID, builds the most comprehensive on-chain transaction nature database with its FinTax module (combining AI and user annotations), and uses Zero-Knowledge Proof technology to find a balance between privacy and compliance. This comprehensive advantage—full-chain coverage, AI-driven, and privacy-first—makes Mercury stand out in the market. Mercury’s core value lies in achieving a balance between privacy and compliance through technological innovation, providing multi-party win-win solutions for users, protocols, and regulators. This is reflected in the following: * **AI-driven Transaction Analysis**: Through the FinTax module, combined with AI automatic recognition and user-manually labeled transaction types, Mercury builds the most comprehensive transaction database across all chains, providing precise support for tax reporting and compliance auditing. * **On-Chain Compliance Tools**: By using Verifiable Credentials (VC) and a full-chain tax label system, Mercury provides convenient tools for individual users, protocol developers, and government departments to ensure on-chain activities meet regulatory requirements for identity verification and tax compliance. * **Privacy Protection**: Based on Zero-Knowledge Proof (ZKP) technology, Mercury ensures "minimal exposure" of user data. Users can complete identity and transaction legitimacy verification without revealing original information (such as transaction details or identity data). * **Unified On-chain Identity**: Using TRID (Tax Residency DID) as the unified identity anchor, Mercury aggregates cross-chain addresses and behavior data to create a trustworthy on-chain tax residency identity system, offering a one-stop identity management experience. Mercury's unique technological advantages further enhance its market competitiveness: * **AI-enabled Efficiency**: The FinTax module utilizes AI models to automatically identify transaction types (such as capital gains and staking rewards), complementing user-manually labeled data to significantly improve the accuracy and convenience of tax reporting. * **Full-chain Coverage**: Integrating manually labeled data with AI-automatically labeled transaction types, Mercury builds an industry-leading VC database that covers major public chains (such as Ethereum, Solana, and Polygon) and achieves data interoperability through cross-chain communication protocols. * **Privacy and Compliance**: Leveraging Zero-Knowledge Proof technology, users can generate tax payment certificates (e.g., proving that on-chain transactions have been taxed) without disclosing specific transaction details, meeting government tax and Anti-Money Laundering (AML) requirements while protecting user privacy. ## Target Market and User Value Mercury’s target market spans multiple key participants within the Web3 ecosystem, with a precise focus on addressing the needs of different user groups: * **Individual Users**: Targeting cryptocurrency holders, tax-sensitive traders, and Web3-native users with strong privacy demands, Mercury helps simplify the tax reporting process and protect personal data. * **Business Clients**: Serving public chains and DeFi protocols (e.g., Polygon, Aave) that need compliance upgrades, providing VC verification services and compliance modules to help meet regulatory requirements without sacrificing user experience. * **Government Clients**: Supporting tax and financial regulatory departments (e.g., the IRS in the U.S., ESMA in the EU) seeking on-chain regulatory technology solutions, aiding efficient on-chain audits and risk management. Core Value Mercury Brings to Different User Groups: * **Individual Users**: One-click tax reporting (generating compliance certificates through TRID and FinTax), reducing privacy risks and allowing users to participate in the Web3 ecosystem with peace of mind. * **Business Clients**: Modular compliance solutions (VC verification services seamlessly integrated into smart contracts), achieving ecosystem win-win through revenue-sharing mechanisms (VC verification revenue sharing). * **Government Clients**: Transparent and trusted on-chain regulatory tools (regulatory interfaces and risk scoring APIs), enabling efficient regulation while protecting user privacy. ## Competitive Differentiation and Future Vision Mercury has established a significant competitive advantage through full-chain coverage and technological innovation: * **Compared to Existing Identity Protocols**: Unlike single-chain KYC services like Civic and SelfKey, Mercury achieves cross-chain identity aggregation through TRID, offering more comprehensive identity management. * **Compared to Tax Tools**: Unlike Koinly and TaxBit, which rely on user manual inputs, Mercury enhances tax reporting accuracy and efficiency through AI and full-chain data integration. * **Technical Barriers**: Zero-knowledge proof technology ensures a balance between privacy and compliance, creating a difficult-to-replicate technological moat. Looking ahead, Mercury’s vision is to establish TRID as the universal identity standard in the Web3 world, becoming the "digital passport" of the on-chain economy. By continuously expanding the application scenarios of TRID (such as on-chain credit scoring, decentralized lending, on-chain governance, etc.), Mercury aims to build an open, programmable identity infrastructure that provides unified trust solutions for users, protocols, and regulatory bodies. Ultimately, it seeks to drive the global and sustainable development of the Web3 ecosystem. # 2. Technical Architecture # Core Protocol Design Mercury is a native Layer 1 blockchain composed of three interdependent sub-chains: the Semantic & Behavior Layer, True Value Layer, and zkPassport Layer. ## Semantic & Behavior Layer A Layer 1 blockchain that supports on-chain transaction behavior analysis and address labeling. It combines a lightweight node listening network and an AI tagging network to give on-chain activities a “semantic layer” and “behavioral context.” ## zkPassport Layer A Layer 1 blockchain that supports native identity authentication and privacy protection. Addresses can issue Verifiable Credentials (VC), as well as hold and verify VCs issued by others. All credentials are verified through Zero-Knowledge Proofs (zkProof), ensuring authenticity and compliance without disclosing the original data. zkPassport integrates zkProof on-chain with smart contracts, enabling automated, privacy-friendly identity and credential verification. It supports on-chain verification of KYC, tax certificates, and other real-world VCs, building a Web3 identity infrastructure for compliance, security, and programmable trust. Within this system, each address functions as a "passport" in the Web3 world, with capabilities for identification, authorization, and trust transmission. It serves as the core identity credential for users to access various on-chain services and ecosystems. Additionally, it can rely on the trusted asset analysis results provided by the True Value Layer to automatically issue verifiable asset proof VCs, further enriching identity profiles and credit dimensions.

Two Sub Layer Architecture Overview

The architecture constructs a full-chain analysis path of “behavior analysis → asset evaluation → identity verification.” The Semantic & Behavior Layer provides interpretable transaction behaviors and address profiles, while the True Value Layer outputs verifiable on-chain asset values. These data are used not only for smart contract decisions and user ratings but also as credible evidence for on-chain compliance, audits, and regulation. Through zkPassport, it automatically evaluates the real value of a user’s on-chain assets and supports the integration of real-world identities and VCs (such as KYC, tax certificates, etc.), constructing a trusted global credit system. Mercury integrates identity, assets, and behaviors into a programmable, analyzable, and verifiable on-chain protocol structure. The three sub-chains communicate with each other through a native cross-chain communication protocol that enables data sharing and state interoperability. This communication protocol features: * **Consensus-based Communication**: No external bridges or relays are required, as sub-chains verify native messages via consensus. * **Data Structure Consistency:** Supports the cross-chain transmission of various structured data types, such as tag information, asset valuations, and VC credentials. * **Contract Interoperability:** Contracts on one sub-chain can directly call contract methods on other sub-chains, enabling complex inter-chain logic. # Protocol Components ## Sub-chain 1: Semantic & Behavior Layer: Sub-chain 1 is a behavior analysis blockchain built on a lightweight node listening network and AI tagging nodes. It implements the following functions: * Listen to full-chain transaction events and parse them with unified encoding. * Generate a trusted full-chain tagging knowledge base through node voting consensus. * AI analysis model on nodes analyzes behavior, intent, and characteristics of on-chain behavior, generating behavioral context. * Node cooperation training to improve the tagging knowledge base. Sub-chain Components: 1. On-chain lightweight node network: Listens to multi-chain transactions and events, serving as the on-chain behavior data collection layer. 2. Intelligent tagging node network: Combines models and knowledge bases to structure address/transaction behavior tagging. 3. AI tagging model: Maintained by the official FinTax, with node cooperation training, it tags transaction types, address identities, etc., and is deployed on intelligent tagging nodes. 4. On-chain tagging consensus mechanism: Node voting mechanism to unify address labels and behavior classification results. 5. Tagging knowledge base: A structured tagging database synchronized across all nodes. ## Sub-chain 2: zkPassport Layer Sub-chain 2 is the identity infrastructure based on VC credentials, Zero-Knowledge Proof (zkProof), and privacy proofs. * Address is identity, allowing for the programmable issuance of VCs. * Proves permissions/identity/asset legitimacy through Zero-Knowledge Proof. * Integrates with the True Value Layer, providing full-chain asset proof for zkPassport users. * Supports integration with real-world credential systems (such as tax certificates, KYC VCs, etc.). * zkProof is stored on-chain, immutable and verifiable. Sub-chain Components: 1. Zero-Knowledge Proof generator and verifier: Generates and verifies privacy proofs based on zkSNARK, ensuring data is verified without being disclosed. 2. Off-chain credential integration module: Supports local apps or DApps to upload and verify off-chain credentials. zkProof is stored on-chain in a privacy-preserving manner, while real credentials remain on the local device. 3. zkPassport SDK: A development toolkit that provides VC display, zk generation, and interaction functions for front-end or wallet integration. 4. VC-zkProof on-chain storage node: Managed by a decentralized node network, responsible for receiving, verifying, and storing zkProof, ensuring that proof data on-chain is verifiable, immutable, and consensus-driven. # Technical Implementation Path ## Sub-chain 1: From Centralized to Decentralized * Centralized Data Collection + Centralized Tagging Model + Centralized Tagging Database * Provides data services ## Sub-chain 2: From L2 to L1 Sub-chain 2 will launch as a dedicated Ethereum Layer 2, independently operating the zkPassport protocol for identity management and credential verification. This Layer 2 fully relies on the Ethereum mainnet as the data availability and final settlement layer. As the network develops and its functionality expands, the zkPassport Layer will gradually evolve into a Layer 1 blockchain with independent consensus and data sovereignty, supporting a larger-scale Web3 identity ecosystem and compliance infrastructure. # 3. Phased Business Model # Phase 1: User-Led Labeling Incentive Mechanism (0-6 Months) Users can annotate their own on-chain transaction data (e.g., transaction types, address identities) through Mercury’s smart contracts. In return, the system rewards users with points based on the quality and quantity of their contributions, fostering a user-driven tagging ecosystem. ## Core Objectives: * Incentivizes user participation in building on-chain data infrastructure * Establishes a high-quality tag knowledge base to support advanced services * Points can be redeemed for services, governance participation, or platform engagement benefits ## Revenue Sources: * Ecosystem Incentives from Public Chains: Collaborate with major blockchains to receive rewards for contributing to the ecosystem (e.g., grants, technical integration incentives). * Gas Subsidy Mechanism: Encourage user participation by reimbursing gas fees, supported by public chains or DApps partners. # Phase 2: Individual Users Payment Model (7-12 Months) Mercury smart contracts automatically identify and classify on-chain transaction behavior, offering labeled data services to enterprises, institutions, and wallets. Clients are charged based on usage volume. ## Core Objectives: * Delivers standardized, high-accuracy on-chain behavior recognition * Supports use cases such as tax compliance, audit trails, and anti-money laundering ## Revenue Sources: * Pay-Per-Use: Charges 0.01–0.05 USDC per behavior recognition request * API Subscriptions: Monthly plans with tiered access to API calls * Custom Data Services: Tailored data offerings for enterprise clients upon request # Phase 3: Individual Users Payment Model ( 13-24Months) In the 3rd phase of the project, Mercury will focus on acquiring users and accumulating an on-chain data labeling library. The goal is to establish a TRID adoption flywheel, laying the foundation for user and data growth in subsequent phases. The primary revenue sources will consist of three parts: 1. TRID Minting Fee: Priced at 0.99 USDC per TRID (first batch users will enjoy free or limited-time discounted minting), lowering the entry barrier for users. 2. VC Generation Service Fee: Tiered pricing based on credential complexity. For example, generating simple address verification credentials is free, while more complex credentials like tax compliance proofs are charged at 0.5 USDC per instance. 3. Data Labeling API Fee:0.005 USDC per API call for developers building tax tools, encouraging the participation of the developer ecosystem. To rapidly enter the market, Mercury will adopt a multi-dimensional marketing strategy: * Wallet Integration and Revenue Sharing: Integrate with mainstream wallets like MetaMask and Trust Wallet, using wallets as both a traffic entry point and interaction tool, with a revenue-sharing model. * Airdrop Campaigns and Points System: Drive user participation via airdrop campaigns and a Mercury points panel. Combine with a task system to incentivize users to mint TRID and generate VCs. * Community Building and KOL Marketing: Expand brand influence through community engagement and KOL marketing, targeting Web3-native users. * Referral Reward Mechanism: Introduce a referral reward mechanism, offering 0.5 USDC rebate for every successful TRID referral, accelerating user growth through viral marketing. ## Core Objectives: * Build the TRID user growth flywheel through airdrop expectations for Mercury tokens. * Enable users to earn points by minting TRID and generating VCs. * Allow users to improve the on-chain data labeling library by manually tagging data, further increasing their point balance. ## Revenue Sources: * TRID Minting Fee: 0.99 USDC per TRID. * VC Generation Service Fee: Tiered pricing based on complexity (e.g., tax compliance proof at 0.5 USDC per instance). ## Market Entry Strategy: * Wallet Integration and Revenue Sharing (wallets as a traffic entry point and interaction tool). * Airdrop-driven campaigns (with points panel and task system). * Community and KOL marketing. # Phase 4: Business Clients Paid Verification Model (25-36 Months) In the 4th phase, the goal of Mercury is to become the compliance infrastructure for public blockchains and DApp ecosystems. This will be achieved through providing VC verification services to DApps, leading to revenue growth, while deepening partnerships with public blockchains to expand the reach within the broader ecosystem. The primary revenue sources in this phase will include two parts: 1. VC Verification Fee: Priced at 1 USDC per verification, with the revenue split as follows: 20% to Mercury,40% to the public blockchain hosting the DApp,40% to the user. This revenue-sharing model is designed to incentivize both public blockchains and users to participate. 2. Public Blockchain Compliance Service Annual Fee: Mercury will offer modular compliance development services for high-transaction-volume public blockchains. The fees will be tiered based on on-chain transaction volume, ranging from 100,000 to 1.5 million USDC per year. This flexible pricing strategy will cater to the scale and needs of different public blockchains. ## Core Objectives Become the compliance infrastructure for public blockchain DApp ecosystems, driving revenue growth through VC verification fees charged to DApps. ## Revenue Sources: * VC Verification Fee: Each verification costs 0.1 USDC, with a revenue split as follows:25% to Mercury,25% to the public blockchain hosting the DApp,50% to the user. * Public Blockchain Compliance Service Annual Fee (Modular): Modular compliance development services charged based on on-chain transaction volume, with prices ranging from 500,000 to 2 million USDC per year. ## Market Entry Strategy: Strategic Blockchain Partnerships: Leverage partnerships with public blockchains to extend services to DApp developers within their ecosystems. # Phase 5: Solutions for Government Clients(37-48 Months) In the 5th phase, Mercury will be committed to opening up the channel between on-chain compliance and government regulation, with the goal of becoming an on-chain technology solution provider for government tax and financial regulatory departments, while maintaining revenue diversity through B-side advanced modules. The sources of income include two parts: first, the government regulatory system subscription fee, which is paid on demand (0.05 USDC/time); in terms of market entry strategy, Mercury will enter the market through government pilot projects, with the goal of cooperating with the tax bureau of one country or region (such as Singapore or Switzerland) to pilot the on-chain tax verification system and the on-chain tax audit system; at the same time, cooperate with international tax consulting agencies (such as PwC, E\&Y) as intermediaries for government pilots to reduce direct policy barriers. ## Core Objectives Open up the channel between on-chain compliance and government regulation, and become an on-chain technology solution provider for government tax and financial regulatory departments. ## Revenue Sources Government Regulatory System Subscription Fee: Eg. Pay-per-use model: 0.05 USDC per query. ## Market Entry Strategy * Government Pilot Projects: The goal is to collaborate with the tax authorities of one country or region (e.g., Singapore or Switzerland) to pilot on-chain tax verification and tax audit systems. * Partnership with International Tax Consulting Firms: Collaborate with firms such as PwC and E\&Y to act as intermediaries for government pilots, thereby lowering the barriers to direct policy engagement. # Phase 6: Full-Chain Identity and Credit Ecosystem (After 48 months) In the 6th phase, Mercury will explore the ultimate vision of full-chain identity verification, aiming to create a comprehensive identity and credit ecosystem. The goal is to expand TRID into a universal identity standard for Web3, supporting a wider range of application scenarios. This phase will empower use cases such as DeFi lending and NFT trading by launching cross-chain identity verification and credit scoring systems, solidifying Mercury's core position in the Web3 ecosystem. * **Core Objective:** Build a full-chain identity and credit ecosystem, expanding TRID into a universal identity standard for Web3 and enabling a variety of scenarios. * **Revenue Sources:** All parties (individual, business and government) will be able to pay for the verification of specific information of another role across various scenarios. The fees will be distributed between the information owners and Mercury network nodes, enabling the full operation of the economic system within the ecosystem. * **Implementation Path:** Based on the validation of technology and market acceptance in the first three phases, Mercury will gradually refine its revenue model and market strategy, driving TRID to become the "digital passport" of Web3. # 4. Development Roadmap ## Phase 1: User-Led Labeling Incentive Mechanism (0-6 Months) * Smart Contract Deployment for User Tagging. * Incentive & Reward Platform ## Phase 2: Individual Users Payment Model (7-12 Months) * Automated Behavior Recognition Engine * API Gateway & Billing System ## Phase 3: User Growth Engine (13-24 months) * Launch of TRID minting tool. * FinTax AI completes training for the first 100,000 transaction classification models. * Integration of tax proof minting feature with 3 major wallets. * Release of Mercury points system. ## Phase 4: Protocol Compliance Layer (25-36 months) * Launch of VC verification module and SDK toolkit, supporting DApp integration. * Establishment of DApp compliance certification system, providing certification labels for verified DApps. * Launch of user-verifiable credential incentive dashboard, enabling real-time viewing of verification income distribution. * Launch of enterprise custom development services, offering tailored identity verification engines for large clients. ## Phase 5: Government Collaboration Network (37-48 months) * Completion of government-side compliance technology certification. * Pilot on-chain tax audit system with 1-2 national tax authorities. * Launch of government regulatory dashboard. ## Phase 6: Full-Chain Identity and Credit Ecosystem (After 48 months) * Cross-chain identity verification: Support TRID identity verification for 10 major blockchains, creating cross-chain identity universality. * Credit scoring system: Launch of on-chain credit scoring system, generating credit profiles based on on-chain behavior and asset data. * Scenario expansion: Explore the application of TRID in decentralized social networking, on-chain governance, and other fields to expand ecosystem influence.