We are excited to announce that dForce is the latest member of the Open DeFi initiative. dForce will be providing deep insight into the liquidity landscape of decentralized finance and help curate innovation in the space with other partners.
Open DeFi was launched in September 2020 as a bridge across borders, cultures, and markets with the goal of fostering the growth of DeFi through focuses on risk, liquidity, and innovation. The addition of dForce to Open DeFi adds to the list of several DeFi protocols which will collaborate to bring liquidity in the space.
dForce network is an ecosystem of protocols aiming to be a full stack solution for DeFi. The protocol is currently one of the most liquid DApps in the DeFi sector with over $150M in total locked value across their full stack of solutions. In April, Multicoin Capital led a $1.5 million strategic round for the leading Chinese decentralized finance protocol as well as other investments from Huobi Capital and China Merchant Bank International (CMBI).
“DeFi is a grand financial and social movement and projects from the West and East have quite a different agenda on security and scalability, though the trend is upward and forward, the fragmentation in the space is on the rise, different risk framework, layer 2 priority etc. dForce is building a protocol matrix covering all major verticals and we believe the Alliance is a great force for a unified security framework and for forming consensus for a common layer-2 for scalability.” — Mindao Yang, Founder at dForce
dForce and Open DeFi will collaborate together with other members of the alliance to help advise projects on strategic entry into the Chinese market. With the lack of resources and bridges to enter global markets we hope that this initiative and partnership can help boost liquidity and users from new markets for DeFi protocols such as dForce. Through liquidity aggregation, local promotion, and risk management strategies, dForce is hoping they can benefit from the OD initiative by gaining more exposure to Western markets with assistance from other established projects in the alliance.
“The addition of dForce in the Open DeFi alliance will prove to be critical as we work with protocols across the globe in discovering new liquidity strategies. As we look to create bridges between the Western and Eastern markets it is important that on both sides we can connect powerful protocols with deep liquidity to help grow communities and remove barriers that are holding back DeFi from entering new markets. We believe that with the assistance of this initiative we can open new doors for dForce in the western market as well as create innovative liquidity strategies together that can help sustain the growth of dForce applications.” — Eden Dhaliwal, Managing Director Conflux Network
About Open DeFi
Launched in 2020, Open DeFi is a global initiative that seeks to develop the decentralized financial ecosystem and advance the collaboration of DeFi projects across borders and blockchain networks. Through a unique program focused on risk management, new liquidity strategies, and innovation, Open DeFi brings together global CeFi and DeFi partners to drive the future of finance. Members include Conflux Network, Sequoia Capital, Blockpower Capital, Antelope Holdings, dForce, DeBank, MCDEX and Shanghai Science and Technology Committee.
For more information, visit: https://www.open-defi.com/