DeFi

Huobi DeFi Labs Researchers Establish Consortium to Develop DeFi Projects

Huobi’s research arm DeFi Labs has formed a consortium to develop decentralized finance (DeFi) projects with MakerDAO, Compound, Nest, and dYdX.

To recap, Huobi Group launched Huobi DeFi Labs incubator about two weeks ago. According to Huobi Chief Investment Officer Sharlyn Wu, the organization is an international consortium of centralized and decentralized financial service providers and platforms. Wu believes DeFi is the first attempt in human history to create a modernized financial system without credit risk. Such a system can unleash the potential of a free economy at the international level.

However, there are still many gaps in the DeFi sector that need to be filled. This requires theoretical research, technological development and ecosystem development. Wu added that there is a strong division between the Asian and Western communities in DeFi, so it makes sense to combine their efforts. The organizers of the consortium announced that in the next few months they will be ready to accept new members working in the field of centralized and decentralized finance into the alliance.

According to DeFiMarketCap, the total market capitalization of DeFi products surpassed $ 2 billion in June , suggesting that people are interested in alternative ways of obtaining loans without the involvement of banks and traditional financial institutions. According to DeFi Pulse, the total amount of blocked crypto assets in DeFi apps reached $ 3 billion last month , an increase of $ 1 billion in two weeks.

About author

Experienced Founder with a demonstrated history of working in the newspapers industry. Skilled in Data Research, Management, Investment Research, Teamwork, and Leadership. Influencing the technology, people, and technical analysis of the Cryptocurrency and Blockchain world.
Related posts
CryptocurrencyDeFi

DeFi Warp Finance Protocol Recovered 75% of Stolen Crypto Assets

DecentralizedDeFi

DeFi Yield Protocol launched staking and dApp for protocol management

DecentralizedDeFiRegulations

CFTC Discusses DeFi Industry Opportunities and Regulation

DeFiHacker

Hacker Hacked DeFi Value Protocol Recovered $ 95,000 DAI

Sign up for our newsletter and stay informed

0 0 vote
Page Rating
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
USD
0
Would love your thoughts, please comment.x
()
x