DeFi Alliance is a Chicago-based nonprofit organization providing support and mentorship to startups in the DeFi space, specifically in the areas of trading, markets and regulation.
Binance.US, America’s home for digital asset trading, today announced their partnership with the DeFi Alliance. DeFi Alliance is a Chicago-based nonprofit organization providing support and mentorship to startups in the DeFi space, specifically in the areas of trading, markets and regulation. This announcement follows Binance.US’s August entrance into the Washington DC-based Blockchain Association.
DeFi, or decentralized finance, is one of the only industries that is continuing to grow amidst the global economic downturn caused by the COVID-19 pandemic. Unique in the volume of its exponential growth, the value of assets locked in DeFi protocols doubled from 4 to 8 billion USD in August 2020 alone. Since the rise of DeFi in crypto and fintech circles, Binance.US has been a committed supporter of DeFi integration, and currently offers support for ten DeFi tokens, including the increasingly popular LINK, from Chainlink, DeFi pioneer MKR, from Maker, and stablecoin DAI.
By working with DeFi Alliance, Binance.US will help mature the DeFi space, build for broader inclusion, and support startups as they unlock the potential DeFi offers, the potential that so many of our users are passionate about.
Supported by DRW/Cumberland CMT Digital, Aave, Compound Finance, Jump Capital, Volt Capital, and others, DeFi Alliance was launched in April 2020. In May, DeFi Alliance selected its first seven startups from more than one hundred applicants. That initial cohort is composed of decentralized exchanges, asset managers and derivative platforms, including 0x, Kyber Network, Opyn, Idex, Token Sets, Dydx and Synthetix.