Blockchain agnostic DeFi ecosystem, Waves Tech has entered a strategic partnership with decentralized commercial dApps infrastructure platform Conflux Network. In a tweet on Tuesday, Waves Tech stated that the partnership aims to further and implement blockchain integration via Gravity Protocol to strengthen DeFi Infrastructure and create new DeFi opportunities.
#Waves partners up with @Conflux_Network! The two teams will join efforts to implement blockchain integration via @ProtocolGravity to enrich the #InDeFi infrastructure and create new opportunities for practical implementation of decentralized finance.https://t.co/UHZjzwk9GC
— Waves Tech (@wavesprotocol) November 24, 2020
In the official announcement on Medium, Waves Tech said that the partnership would enable the development of inter-chain DeFi capabilities for pushing mass adoption of blockchain-based business solutions. Waves Association’s strategic advisor, Sten Laureyssenss, stated that their strategic alliance with Conflux would strengthen the infrastructure Gravity Protocol, Waves’ interoperability arm. Gravity Protocol helps developers build futuristic DeFi dApps focused on the interoperability of crypto assets and data across various networks. Sten further said the partnership would also help them create new opportunities for practical usage of DeFi applications.
Conflux Network is a next-gen global commercial platform focused on the implementation of decentralized financial applications. The network has attracted huge investments from prominent global investors like Baidu Ventures, F2Pool, Huobi, Sequoia China, Metastable, and IMO Ventures. Conflux also functions as an open protocol for DeFi dApps, Web 3.0, and a secure & open public blockchain, built on the Proof-of-Work consensus algorithm.
Commenting on their partnership with Waves Tech, Ivy Qi, Marketing Director at Conflux Network, said that the aim is to connect blockchain and regulated finance. Qi further added that the alliance would enable mass adoption of DeFi, because of their permission-less structure and regulatory endorsements.