After announcing a successful $1 Million funding round, OpenDeFi is making even more news in the DeFi space.
Dfinance High-Level-Language (HLL) allows people to create a variety of DeFi instruments and products without coding, and has been called “Wix for DeFi”.
The partnership promises exciting possibilities for DeFi as the no-code approachability of DFinance and the base layer of real-world assets that OpenDeFi provides means that this is where the financial instruments of the future will be made.
OpenDeFi’s array of regulated tokenized real-world assets like precious metals, ETFs, fiat currencies etc plus financial services such as trading and hedging will enable creators to utilize Dfinance to design and launch an entirely new line of financial instruments.
“The idea behind OpenDefi is to bridge the gap between real-world assets and the DeFi space. Through this amazing partnership with Dfinance we intend to make the user experience even more inclusive, by allowing the creation of different kinds of financial services with ease.“ said Tarusha Mittal, co-founder, and COO of OpenDefi.
Dfinance co-founder and technical lead Boris Povod shared his thoughts on OpenDeFi and the upcoming partnership:
“We have always planned to connect Dfinance to a broad range of real-world, regulated assets and we have been actively looking for partners and joint ventures that are a good match for Dfinance, and can help us achieve this goal. We found positive synergy and vision similarities between OpenDeFi and Dfinance, and we are looking forward to working with the OpenDeFi team towards a transparent, more equal, and better-developed blockchain ecosystem.”
OpenDeFi is using Matic, Tezos and Ethereum and also offer cross-chain value creation by allowing assets to be moved between multiple blockchains, whereas Dfinance is Cosmos Tendermint-based, and the first phase of the partnership will focus on developing a communication layer so value can flow between the two projects.
The grand vision is a flat blockchain ecosystem with easy flow of value between different blockchains, allowing for a truly DeFi economy to rise.
OpenDeFi is a fintech protocol that enables custody of real-world assets on blockchains and enables developers to build applications on top of it. Being open in nature this protocol allows seamless integration of other on-chain apps, and can enable multiple chains to cross-share the asset classes.
Dfinance, dubbed by thought leaders as the “Wix of DeFi”, is a decentralized platform that facilitates the creation of a variety of DeFi instruments and products, oriented at people with limited or no programming skills. It is designed to unlock the creative potential present in individuals that are well versed and experienced in the financial industry, statistics and mathematics, and who despite their expertise have difficulty translating their ideas into actual instruments due to the associated technical challenges. Dfinance will enable them to rapidly implement their ideas, publish them in a secure environment, and make them available for the general public.