DeFi 3.0 – A Pathway Forward
January 14 2022 - 1:11AM
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The decentralized finance (DeFi) sector is easily one the most
potent and promising parts of the world’s growing finance industry.
As the name implies, decentralized finance removes central
authorities and intermediaries from the sector, granting the public
direct access to financial products at the best possible rates.
Essentially, banks and other financial institutions can no longer
exert their control over the market, putting the power into the
hands of everyday individuals. There are several advantages to
using DeFi. One of the most noticeable is the autonomy it provides
the public. Through DeFi, people transacting in the finance sector
using various products have total control of their funds and can
channel them as preferred. Also, DeFi does not enforce heavy
restrictions on access to these financial products, unlike the
traditional system that reserves many products to high net worth
individuals. Another advantage of DeFi is reduced fees; since there
are no intermediary banks or financial institutions, customers do
not have to worry about the substantial fees these entities charge.
Today, several entities have seen the ease DeFi brings to the
industry, and are looking to use this technology to disrupt the
global finance sector. Some are launching new products, while
others have goals for the general improvement of the market – one
of these entities is the DeFi 3.0 Alliance. What is the DeFi 3.0
Alliance? The DeFi 3.0 Alliance is a global non-profit association
formed to improve the DeFi sector and boost its all-around growth.
The association focuses on the development, education, and global
adoption of DeFi products, creating more affordable and transparent
access for all. The alliance also promotes easy and secure use of
DeFi 3.0 and Farming-as-a-Service (FaaS) solutions. Cryptocurrency
and blockchain technology generally form the bedrock of
decentralized finance. Currently, many people use these offerings
to build complex products for more advanced functions, or
relatively simple transactions, such as cross-border payments. The
vast potential available in this market ensures the continuous
evolution of the DeFi, which is gradually morphing into the new
DeFi 3.0. This potential drives the DeFi 3.0 Alliance to ensure
that DeFi 3.0 and FaaS become recognized in the crypto and
blockchain sector. The DeFi 3.0 Alliance currently has eight
entities serving as founding members. Each member is a leader in
the DeFi space, with ample expertise and experience with related
products. Each one also contributes to the entire group’s
collective $150 million market cap and a community of nearly
100,000 users. The members include: Aggregated Finance ($AGFI)
Cross Chain Farming ($CCF) Reimagined Finance ($REFI) Alpha Brain
Capital DAO ($ABC) The Chads Club #Chads Inu Capital ($INC) All
Coins Yield Capital ($ACYC) D3 Protocol ($DEFI) In addition to the
above, the DeFi 3.0 Alliance will also welcome Foodfarmer.eth as an
advisor. Nonetheless, the alliance welcomes all DeFi 3.0 or FaaS
projects with credibility, demonstrable security, and the necessary
drive required in the industry. DeFi 3.0 Alliance Methods There are
several focus areas the DeFi 3.0 Alliance will use to achieve its
aim to improve the DeFi 3.0 and FaaS sectors. Firstly, the
association will invest in research and development (R&D) to
create security standards that serve as minimum requirements for
deploying secure FaaS and DeFi solutions. In addition to these
standards, the alliance’s R&D efforts will focus on a technical
framework that optimizes innovations and products for access across
multiple chains. The DeFi 3.0 Alliance will also promote
information exchange on essential market issues and trends, which
provides better DeFi 3.0 and FaaS performance. Furthermore, there
will be efforts to promote and publicize DeFi 3.0 and FaaS to an
expanded audience of potential market players and alliance members.
Other Activities As part of plans to improve the sector, the DeFi
3.0 Alliance features an accelerator program that provides seed
funding for new projects. Through direct investment from members
and association funds, the alliance will afford innovative projects
the liquidity they require to contribute to DeFi 3.0 and FaaS
progress.
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