We hope everyone had a wonderful Christmas celebration with their friends and family, and utilised our special Christmas Offers as well! As we are moving towards the end of 2020, we are also providing a way for users to use their New Year Resolutions to automatically grow their wealth via our Drop A Bad Habit Campaign.
Today, however, we have another awesome announcement—OpenDeFi has partnered with Elrond.
Elrond and OpenDeFi have a common vision to build a new internet economy and to facilitate decentralised flow of value.
At OpenDeFi we are enabling users to invest in real world assets via on-chain synthetics. Users Get Instant Loans or Earn a rental on their assets. In this direction we have now partnered with Elrond to bring value to our community through our upcoming group farming feature.
With this partnership wrapped asset backed tokens will be available over Elrond along with real world assets. Our collaboration will aim to explore newer innovative features over time.
”Decentralized products with real-world underlying assets will rapidly expand the current multi-billion dollar DeFi market into a multi-trillion dollar one. We look forward to working together with OroPocket towards an interoperable financial system that bridges the traditional and digital financial landscapes.” said Beniamin Mincu, Elrond CEO.
“The Elrond Network is a fertile ground for innovation and efficiency increase, thanks to their highly customizable tokens and inexpensive transfers. Their interoperability strategy is a great fit with our own vision of an interconnected hybrid financial system and we look forward to achieving it together” said Mohit Madan, CEO & Co-Founder of OroPocket.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
The Elrond eGold (EGLD) Token is native to the Elrond Network and will be used for everything from staking, governance, transactions, smart contracts and validator rewards. It represents a medium of exchange between users & developers who pay to use the network and validators who take the fees as payment for the services they provide.
OpenDefi provides 100% asset backed banking without the insidious, hidden charges and time consuming tedium that come with traditional banks. Through their Fiat on ramp OroPocket, users can invest into multiple asset classes, grow their wealth, enjoy 100% liquidity—all on Blockchain, with a simple app.