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IOST and PROXI Partner to Bring Real Value and Innovation to...
NEWS

IOST and PROXI Partner to Bring Real Value and Innovation to DeFi

IOST–an enterprise-grade, Proof-of-Believability (POB) blockchain protocol, and PROXI are partnering to bring real value and innovation to the wildly popular decentralized finance (DeFi) space as per an official announcement on August 4.

PROXI describes itself as a second-generation interoperable, one-stop-shop DeFi platform serving the burgeoning multi-billion space and supporting cross-chain derivative issuance, credit lending, trading, and asset management.

PROXI and IOST Partnership: Details

Overly, PROXI says it wants to build a sustainable DeFi network that is easy to use and infinitely scalable. This way, investors can access limitless opportunities to make profits from credit-lending with high leverage and derivative issuance in DeFi. Lenders and borrowers are directly connected in real-time. Interestingly, PROXI allows access to geo-blocked zones further increasing accessibility.

Notably, there is a community incentive in place and hallways through which PROXI users will tap yield farming, turning in high profits directly from the platform. Enabling this is the platform’s ability to support various digital assets as collateral. 

IOST now joins Ethereum, Tezos, and Tron on the expanding PROXI ecosystem comprising decentralized exchanges, oracles, wallets, and tokenizing platforms. Through their partnership, both parties will leverage each other’s strengths to grow their communities, advance their products, and marketing resources.

IOST focus on DeFi

As reported, IOST recently updated their roadmap. After meeting their targets despite the turbulence brought by the coronavirus pandemic, IOST is making their goal to expand into DeFi in H2 2020.

A leading go-to platform for dApp launching, IOST is actively working on compliance development and enhancement of its network by laying down realistic targets as part of their gradual but steady improvement. 

The IOST network is scalable and secure, decentralized, and neutral, with a $50 million incubator and accelerator called the Bluehill. Bluehill is akin to Ethereum’s ConsenSys. It is a fund to directly support the development of projects that will expand the IOST ecosystem. 

Of note, IOST has no scalability troubles since it boasts of a 100,000 TPS. To achieve this massive feat, IOST fuses its innovative architecture with scaling solutions like Efficient Distributed Sharding and Micro State Blocks.

IOST achieved numerous feats in H1 2020 which put them among the leading blockchain projects today.

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IOST launched the Shanyiou charity information publicity platform to promote charity transparency and help pandemic prevention and control in China. The project also signed a Memorandum of Understanding with the prestigious University of Zurich and joined leading blockchain consortium Hyperledger.

By the end of September 2020, the IOST team plans to onboard at least three DeFi dApps on their high throughput network. Unlike Ethereum which struggles with high network fees and consequential congestions, IOST has zero transaction fees with no congestion. Moreover, they have developer-friendly features drastically improving the efficiency of product development. 

Being the main drawers, IOST continues to build a presence in DeFi. While they partner with emerging DeFi dApps startups, the smart contracting platform will also offer comprehensive incubation services for open finance projects. 

For interoperability, the cross-chain transfer bridge will be applied to DeFi projects and users from competing blockchains like Ethereum. Strategic, this is the necessary primer and a base necessary to support the explosive growth of the IOST DeFi scene in the coming days.

Bidao now supports IOST as collateral in its DeFi-dedicated ecosystem.

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