无需许可的金融,但要求KYC:我们究竟在做什么? | Devcon 8

作者:Irina_cp0x

更新于 2026年11月8日

在 Devcon 8 上,cp0x 揭示了 DeFi 界面中的访问限制:在 60 个被评估的应用中,有 48 个对用户施加了限制。探索这些发现以及开源替代方案。

标签: Open Source, Devcon 8, Censorship Resistance, Research, DeFi, Permissionless, KYC

In short

  • 在 2026 年 10 月,60 个被评估的官方 DeFi 界面中有 48 个存在访问限制。
  • 限制措施包括地理封锁、IP 过滤、钱包反洗钱(AML)检查、VPN 检测和 KYC。
  • 在 27 项钱包反洗钱检查中,有 26 项在链下运行,而非由智能合约强制执行。
  • 60 个官方界面中有 33 个为闭源。
  • cp0x 为 13 个 DeFi 协议提供开源界面,不设访问限制或额外界面费用。

常见问题

有多少个 DeFi 界面限制用户访问?
根据 cp0x 截至 2026 年 10 月 28 日的研究数据,在完成评估的 60 个官方 DeFi 界面中,有 48 个存在至少一项访问限制。研究共涵盖 64 个界面,其中 4 个未能得出明确的评估结论。
DeFi 界面使用哪些类型的访问限制?
cp0x 识别出五类限制:地理位置封锁、IP 地址限制、钱包反洗钱(AML)筛查、VPN 检测以及身份验证(KYC)。同一个界面可能同时采用多种限制措施。
如果官方网站限制访问,DeFi 智能合约还能保持无需许可的特性吗?
可以。许多访问限制是在网页前端实施的,而不是由智能合约强制执行。在这种情况下,用户仍可直接与智能合约交互,或通过替代界面访问。不过,部分协议也会在链上实施限制。
cp0x 如何帮助用户无需许可地访问 DeFi?
在 Devcon 8 上,cp0x 展示了为 13 个 DeFi 协议提供的开源界面。这些界面不设置访问限制,也不收取额外的界面使用费。其目标是让用户不依赖官方网页,也能独立访问和使用相关协议。

Title slide of the cp0x presentation “Permissionless Finance, but with KYC: What Are We Even Doing?” by Alex, Head of R&D at cp0x, at Devcon 8 in Mumbai. 

At Devcon 8 in Mumbai, Alex, Head of R&D at cp0x, addressed a growing contradiction in DeFi: protocols promise open access for everyone, while their official websites block users by location, screen wallets, and impose additional access requirements.

We examined restrictions across official DeFi interfaces and compared them with the principles these projects promoted just a few years ago.

From open finance to restricted access

In 2020, Aave described a financial system accessible to anyone, without geographic barriers. By 2026, its official interface was screening wallets through an AML service, while its terms restricted access from certain jurisdictions and prohibited VPN use.

In 2022, MakerDAO founder Rune Christensen warned that introducing KYC into a decentralized stablecoin would create a centralized backdoor and undermine decentralization itself. Yet in October 2026, the Sky app blocked 35 countries, detected VPNs, and performed wallet AML checks.

 Comparison of MakerDAO founder Rune Christensen's 2022 warning against KYC with Sky's 2026 restrictions: 35 blocked countries, VPN detection, and wallet AML screening. 

Other major projects followed a similar path.

Morpho aimed to build an open lending infrastructure, but its official interface began hiding certain markets due to legal restrictions.

Uniswap described decentralized trading as open to anyone, anywhere. Its interface now screens wallets and restricts certain features based on IP addresses.

Hyperliquid promoted trading without intermediaries or gatekeepers. In October 2026, its official interface blocked seven jurisdictions and hid certain markets in 19 countries.
Comparison of Hyperliquid's 2025 permissionless finance statements with its 2026 restrictions: seven blocked jurisdictions and restricted markets in 19 countries. 

The underlying smart contracts have not necessarily changed. In many cases, restrictions were introduced at the website level, where users access the protocols.

48 of 60 DeFi interfaces restrict access

The cp0x research covered 64 official DeFi interfaces. Technical restrictions could be assessed for 60 of them:

  • 48 interfaces enforced at least one restriction.

  • 12 had no technical restrictions detected.

  • Four could not be conclusively rated.

The presentation identified five categories of restrictions:

  • Geographic restrictions — 28 interfaces.

  • IP restrictions — 24.

  • Wallet AML screening — 27.

  • VPN detection — 6.

  • KYC — 5.

A single interface can apply several restrictions at once.

Across 92 countries and regions, at least one of the applications studied blocked access to its website or certain features. This does not mean all apps are blocked in those locations, but it shows how widespread access restrictions have become.

cp0x research findings: 48 of 60 official DeFi apps have restrictions. Breakdown: 28 geographic, 24 IP, 27 wallet AML, six VPN, and five KYC restrictions. 

Restrictions live in interfaces, not necessarily in contracts

The key distinction is between the protocol itself and its official website.

A user opens a website that may check their IP address, location, or wallet history and refuse access. But the smart contract behind that website may still accept transactions submitted directly.

In the sample, 26 of 27 wallet AML checks were performed off-chain. In other words, these checks were not enforced by the smart contracts themselves.

Diagram showing access restrictions enforced by DeFi websites rather than smart contracts. In the sample, 26 of 27 wallet AML checks take place off-chain.

Some protocols do enforce restrictions at the smart-contract level. But being blocked by an official website does not automatically mean that interacting with the underlying protocol is technically impossible.

Who do these restrictions actually stop?

Someone who knows how to interact directly with smart contracts can often bypass the official website entirely.

An ordinary user opens the interface, sees an access restriction, and leaves. They may never realize that the underlying contract is still accessible.

Comparison showing that technically capable users can bypass a restricted website by calling a smart contract directly, while ordinary website users are blocked. 

The result is a strange contradiction: restrictions create obstacles for regular users without necessarily stopping technically capable participants who can interact with contracts directly.

Instead of open finance, we get additional barriers and bureaucracy at the interface level.

What can we do?

There is no universal solution. But when a smart contract remains permissionless, users have alternatives:

  1. Interact with the contract directly.

  2. Build an independent interface, including with AI tools.

  3. Publish the code on GitHub so others can inspect, reuse, and self-host it. 

Three steps toward permissionless DeFi access: interact directly with smart contracts, use AI to build an independent interface, and publish the code on GitHub. 

Modern AI tools have made building interfaces much easier. Tasks that once required a development team and months of work can, in some cases, now be completed much faster.

But open-source code matters just as much as access. Users need to be able to verify contract addresses, inspect what the interface does, and make sure no hidden actions are involved.

Why open source matters

At the time of the presentation, 33 of the 60 official interfaces reviewed were closed source.
cp0x research finding that 33 of 60 official DeFi interfaces reviewed are closed source, followed by a call for developers to open-source their interfaces.

When source code is unavailable, users cannot fully audit how an interface works or independently rebuild it. They have to trust the operator of the official website.

cp0x offers an alternative: open-source interfaces for existing DeFi protocols.

At Devcon 8, we presented the results of this work: interfaces for 13 protocols, without access restrictions or additional interface fees. Users interact with smart contracts through their own wallets. cp0x charges no additional interface fees; network and protocol fees may still apply.

cp0x presentation slide announcing open-source interfaces for 13 DeFi protocols, with no access restrictions or additional interface fees.

The central message is simple: the product is the smart contract, not the website.

If access to a protocol depends entirely on the operator of its official interface, permissionlessness is only a promise.

Follow your values. Long live cypherpunk!

Presentation, research, and sources

The presentation reflects a snapshot from October 28, 2026. Restrictions, terms of service, and interface availability may change.