Huobi Group’s decentralized finance platform, Huobi DeFi Labs, launched a global alliance to fill the gap amongst the centralized and decentralized financial service providers and platforms in the DeFi ecosystem.
Huobi Group's new research and incubation platform that focuses on decentralized finance envision to bring together in one table, all leading DeFi players in the ecosystem to improve communications and establish universal protocol standards that will help to close the gap and build bridges for users within the community to have access on its projects. This consortium eyes to enhance its standards and update regulations that may emerge in the environment through research to avoid crises in the industry. This international collection of DeFi service providers and platforms push to facilitate cross-border collaboration between Asia and Europe as well as the United States.
Cointelegraph shared that the inaugural members of this project are: Nest, MakerDAO, Compound, and the decentralized margin and derivatives exchange -dYdX. Compound founder Robert Leshner, in an interview with Coindesk, said that this alliance is an opportunity to establish shared standards which are fair, efficient, transparent, safe, and globally accessible financial markets in the ecosystem.
We're excited to partner with @HuobiGlobal and the Global DeFi Alliance to promote extensive cooperation in the DeFi community. We're collaborating to promote research, technology development, and ecosystem building in both Asian and Western DeFi communities. https://t.co/mRp319Z0qf— dYdX (@dydxprotocol) August 17, 2020
Huobi Chief Investment Officer Sharlyn Wu told The Block Crypto that Decentralized Finance (DeFi) is the first attempt in human history to develop a modern financial system without credit risk and it unleashes free economy’s power at a global scale. The CIO, however, is aware of the gaps present in the market, she mentioned that there are still centralized financial institutions that are far removed from crypto-native communities and that divisions are still present between Asian and Western DeFi communities.
Coindesk revealed that, in the following months, members of the Global DeFi Alliance hope to inject more players in its system including wallets, protocols, security companies, and investment firms among others.