Chinese Blockchain Startup Conflux Network Launches New Global DeFi Alliance
Chinese Blockchain Startup Conflux Network Launches New Global DeFi Alliance
September 5, 2020
Chinese Blockchain Startup Conflux Network Launches New Global DeFi Alliance
Chinese Blockchain Startup Conflux Network Launches New Global DeFi Alliance
September 5, 2020

Conflux Network, a permissionless blockchain startup in China, has launched a new global DeFi alliance.

It has been reported that the new alliance named “Open DeFi” aims to connect Eastern and Western DeFi markets by uniting China-based blockchain leaders and global DeFi startups to streamline cross-border market growth, sustainability, and innovation. 

However, the new alliance is supported by the Chinese government through the Shanghai Science and Technology Committee. Initiated by Conflux Network, Open DeFi comprises a number of industry players like major Chinese DeFi protocol dForce.

Other participants include blockchain-focused venture capital firm Sequoia Capital, Blockpower Capital, Antelope Holdings, DeBank, and MCDEX.

According to the report, alliance members are going to divide their efforts into three major vectors like risk management, new liquidity strategies, and incubation and innovation.

ALSO READ :  Don Tapscott Says DLT Is The Foundational Technology Of “The Second Digital Era”


It has been analyzed that members in the risk management track aim to ensure smart contract and economic security for DeFi services, while institutional investors and crypto exchanges target new pooling and trading strategies to boost liquidity.

Thus, the association also plans to collaborate on new DeFi offerings and tap new strategic partners as part of its incubation wing.

Source: Cointelegraph | Image: Coindesk


Crypto News Point a news platform of Digital Notice Media Labs is primarily a regular publication of information, commentary and articles focused extensively on fintech, blockchain technology, cryptocurrency, blockchain-based tokens, cryptocurrency market trends, and trading strategies. We do not provide individually tailored investment advice and does not take a subscriber’s or anyone’s circumstances into consideration when discussing investments, nor is Crypto News Point registered as an investment adviser or broker-dealer in any jurisdiction. Information contained herein is not an offer or solicitation to buy, hold, or sell any digital assets.

Affiliate Disclosure: To help support the work we do here at CNP, we often link to products and deals from around the web. Should you buy some of these, we may get a portion of the sale.

We in generally gather content from the major websites. In every article there is always a clear link and attribution to the source publication. If you have any issue with any of our published content taken from your site, kindly let us know so that we can take appropriate action. In any case, the content of the pages of this website is for your general information and use only. It is subject to change without notice.

You May Also like

Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with an experience of 1 year. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space, as she loves writing about blockchain and other blockchain-related articles. Currently, she is working on blockchain-based news, reviews, featured articles, and guides.