DeFi Connects East and West

Judy Rubio

New DeFi projects are completely transforming the current system. This innovative approach has been implemented in many sectors. Thanks to it, nowadays there are more industries that can boast greater achievements. Eastern and western markets have long been in need of a change. Improvements that official representatives are planning to make will significantly impact the entire sphere and offer new opportunities to all participants.

Professionals hope that the new DeFi alliance is exactly what the two markets need to connect with each other. As news agencies announce, the Chinese government is fully prepared to provide support to a new association focusing on DeFi.

All crypto enthusiasts admit that there is a great hype and craze about decentralized finance. Even though this innovation is something that all mass media outlets keep their eye on, many professionals mention that the industry will soon launch a global DeFi initiative – this is presently known as a blockchain startup.

As specialists describe, Conflux Network is actually a permissionless blockchain newly developed project. The team has finally launched a fresh association that focuses on DeFi. Executives announce that they need this kind of innovation to help them promote international cooperation. What they offer will allow major industry players to establish new partnerships.

Developers named their project ‘Open DeFi’. It’s a new alliance that has its own mission. Executives wish to connect Western and Eastern DeFi markets. They also point out that it’s essential to unite blockchain leaders located in China and globally know DeFi startups. This approach will permit the two markets to grow and develop further. It will additionally boost innovation as well as sustainability.

Support from the Government

In the announcement issued on Thursday, it is mentioned that the new alliance receives support from the Chinese governmental institutions. Authorities help the project through committees and various organizations.

All in all, the project involves a lot of participants. One of the most prominent is protocol dForce. There is also Sequoia Capital that takes an active part in the process. Lots have been achieved thanks to Blockpower Capital. Professionals are happy to see DeBank as a part of the team. The other two players that joined the group are MCDEX and Antelope Holdings.

All of the mentioned members intend to split their attempts into three key directions. One of the vectors includes risk management. They are also going to work on new strategies applied to liquidity. Finally, the group will need to collaborate to develop the innovation and incubation sector. Risk management is the sphere that ensures economic security for DeFi services. It also covers smart contracts and allows institutional investors to create trading strategies and boost greater liquidity.

New DeFi offerings are another matter that is of utmost importance to all partners. Many specialists refer to DeFi as the fresh ICO phenomenon. As a matter of fact, the DeFi rally has been occurring for the past few months and has surged from one billion USD to nine billion USD in a bit more than seven months. The concepts that DeFi comprises consists of smart contracts, lending, credit, and DeFi applications.