Open DeFi: A look ahead at 2021

Open DeFi is a global initiative initiated by Conflux Network in 2020 to advance collaboration across projects, protocols, communities, and borders. 2020 was a huge year for DeFi, and we are thrilled to kick off 2021 by actively onboarding new members to the alliance and launching a lot of exciting initiatives for adoption and growth of the ecosystem.

New year, new website

A brand new website —! Here you can find more details and the latest news on the initiatives put forth by Open DeFi, as well as everything you need to know about how to get involved.

Connecting East and West

With many members interested in growing their projects across Eastern and Western markets, we have facilitated new technical partnerships and have already started supporting teams to set up business operations in China.

Exclusive community of builders

The Open DeFi Discord server is focused on building out a community of developers, founders, researchers and thought leaders to develop the future of DeFi. We currently have an open call for applications to join the community. To date, we have received 150+ applications and are still welcoming new applicants. If you are interested in joining or learning more, please apply here!

Open DeFi podcast

Beginning later this month, we are launching a bi-weekly podcast series to feature industry updates and member projects. Keep an eye out on our Twitter and Discord for more details and dates. Our first episodes will feature Open DeFi members AAVE, Balancer, and dYdX.

Security standard for DeFi

Open DeFi is developing a blueprint for security standards for the DeFi ecosystem. The open-source auditing standards will help institutional investors identify technical and economical vulnerabilities of upcoming DeFi projects to make risk adjusted investment decisions. This blueprint is currently being led by Open DeFi members Quantstamp, Conflux Network, and mStable.

Open DeFi launchpad

We have opened up applications for our exclusive launchpad program to support the DeFi innovations of tomorrow. If you are working on DeFi ideas and are looking for support and mentorship from industry leaders, please apply here, we would love to hear your story.

New partners

In the last quarter of 2020, we founded Open DeFi with eight founding members Conflux Network, Sequoia Capital, Blockpower, Antelope, dForce, DeBank, MCDex, and Shanghai Science and Technology Committee. Since then we have grown significantly with a global network of over 22 members.

We start 2021 by welcoming the new and upcoming protocols in our second batch of members.

Alkemi — Focused on bridging DeFi Protocols and CeFi Institutions via permissioned liquidity pools, Alkemi is joining the Open DeFi alliance to create new strategies for institutional capital to flow into DeFi.

B.Protocol — Making lending platforms more secure by eliminating the gas wars and shifting the miner’s profit to the users when liquidations occur. B.Protocol is joining Open DeFi to expand its services to new lending protocols and lower the risk involved with DeFi loans.

Hummingbot — An open-source software that lets users build and run customizable trading strategies on centralized and decentralized exchanges. Hummingbot will tap into the Open DeFi network to make market-making as fair and decentralized as possible for new token issuers and traders.

mStable — Autonomous and non-custodial stablecoin infrastructure. Open DeFi will help connect mStable with new partners and farmers to increase liquidity, security, and innovation with respect to stablecoins.

Set Protocol — Bringing automated asset management to crypto, either through algorithmic-based Robo Sets or high-profile trader strategies through Social Trading Sets. Set Protocol is a leader in the DeFi space and will work with Open DeFi to work on future products and ideas of theirs.

Secret Network — The first-of-its-kind, Secret Network is a public open-source blockchain that provides data privacy by default, enabling privacy-preserving smart contracts. With the help of Open DeFi, Secret Network plans to explore new partners to help build privacy-focused DeFi.

Synthetix — The backbone for derivatives trading in DeFi, Synthetic allows anyone, anywhere to gain on-chain exposure to a vast range of assets in crypto and traditional markets. Open DeFi will help facilitate innovation with Synthetix as they explore new assets and trading platforms.

Today, the DeFi ecosystem is limited to the early adopters and innovators with a lack of sustainable liquidity that is essential for stable financial markets. The community of users and investors are often siloed in using technologies and experiences built for specific regions and languages, with few channels to get exposure to global innovations. Our core members driving the alliance are deeply invested in developing new opportunities, and connecting communities and economies across the globe.

On behalf of all the members of Open DeFi, we wish you a very happy and productive 2021!

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A community driven DAO creating the next era of multi-chain DeFi.