Elrond News

Elrond Assets Can Now Participate in First Ontology DeFi

Enterprise blockchain solutions and decentralized economy network Elrond announced on Monday that the users of assets build on its platform like eGLD can now have new opportunities on the all-new Ontology DeFi. In the official tweet, it said that Elrond assets users can now participate in swapping, lending, and liquidity options in the first Ontology DeFi via OIN Finance protocol.

In the official announcement on its website, Elrond informed that eGLD would be the liquidity token for products on the Ontology DeFi, which has been made possible by their partnership with OIN Finance. Talking about the move, Elrond CEO Beniamin Mincu said that it is a big positive for the eGLD holders as they get a chance to participate in the DeFi market, which is currently valued at over $7 billion. He further added that the partnership with OIN Finance would allow them to expand their DeFi ecosystem. OIN Finance CEO Renard Zhang said,

Renard Zhang said

OIN Finance is a decentralized liquidity mining platform, a first on the Ontology Network, and a loan provider. It is expected to expand to other leading DeFi focused blockchains by building and developing cross-chain functionality. OIN will also work to bridge the gap between Ethereum and Ontology, which will open the DeFi space for their users.

Daniel Garza

Daniel Garza is well-known for his writing skills and works as a lead content writer in our team. He also has a deep interest in cryptocurrency funds and guides people on how to deal with a cryptocurrency exchange.

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