The Rise of Decentralized Finance: A Collaborative Effort by Top DeFi Projects A group of over 30 leading decentralized financial protocols have come together to demonstrate the benefits of DeFi for 24 hours. The participating projects, which include , , , , , , and ,, are showcasing the interoperable nature of Web3 by sharing tweets from other protocols and highlighting the trustless nature of DeFi. Balancer Labs, Aura Finance Euler Yearn Element SushiSwap Aave MakerDAO This effort is a celebration of how DeFi can thrive when protocols can work together and create better user experiences. DeFi differs from traditional finance as it is open, permissionless, and composable. The recent crashes in centralized finance have further highlighted the advantages of DeFi, which is governed by smart contracts and open-source code. collaborative Building the Future of DeFi Together “The campaign highlights the difference between DeFi and traditional finance systems and serves as a reminder of DeFi's strengths,” Yearn CMO Draper said. Mamun Rashid, CMO of GrowthCU at Maker, added that “the campaign demonstrates the inclusiveness and collaboration within the DeFi community and the shared belief in making a positive change through decentralized finance.” https://twitter.com/Balancer/status/1622611178534109184?cxt=HHwWgIDUkaOR1oQtAAAA&embedable=true Jared Grey, Head Chef at Sushi, emphasized the importance of replacing the traditional financial framework with DeFi and the need for the industry to remain true to its mission of serving everyone. Fernando Martinelli, CEO of Balancer Labs, highlighted that social change is key to driving DeFi into the mainstream and that no project can complete this mission alone. : Vested Interest Disclosure The author is an independent contributor publishing via our . Be it through direct compensation, media partnerships, or networking. The author has a vested interest in the company/ies mentioned in this story. HackerNoon has reviewed the report for quality, but the claims herein belong to the author. #DYOR brand-as-author program Don’t forget to like and share the story! Image credits: . Shubham's Web3

The writer has or has previously had a business relationship with companies mentioned in this article.

Winner of Noonies 2020 for the award Hacker Noon Contributor of the Year - DATA.

2020 - Hacker Noon Contributor of the Year in DATA

Read My Stories

Too Long; Didn't Read

Discover Saakuru: Web3 Mass-Adoption with 0-FEES

20 DeFi Projects, including Balancer, Aave, and MakerDAO, Lead The Charge for Decentralized Finance

Too Long; Didn't Read

Ishan Pandey

STORY’S CREDIBILITY

Associated Companies

About Author

TOPICS

THIS ARTICLE WAS FEATURED IN...

20 DeFi Projects, including Balancer, Aave, and MakerDAO, Lead The Charge for Decentralized Finance

Too Long; Didn't Read

Ishan Pandey

STORY’S CREDIBILITY

Associated Companies

About Author

TOPICS

THIS ARTICLE WAS FEATURED IN...

RELATED STORIES