DeFi alliance adds more startups as industry growth accelerates

Defi the future of finance

The Chicago DeFi Alliance continues to grow, adding 11 new members including the fast-rising lending protocol Aave and Silicon Valley VC ParaFi.

A new consortium bridging the worlds of DeFi and traditional trading has added more high-profile members to its ranks.

The Chicago DeFi Alliance announced on Wednesday the addition of 11 new members to the mentoring group, designed to help burgeoning DeFi protocols and other players in the space tackle the challenges of providing liquidity in a rapidly expanding market—one which just days ago exceeded $2 billion in total locked value for the first time.

Among the new members are DeFi lending platform Aave and Silicon Valley VC firm ParaFi, two fast rising players in the world of DeFi.

Aave is one of the fastest growing DeFi apps around at the moment. Earlier this week, it launched credit delegation on its platform, enabling users who deposit digital assets to authorize other users to take out loans, similar to a co-signing agreement. The system has the potential to broaden the appeal of DeFi, offering a source of greater returns for large depositors and a fresh source of credit for users with few existing assets. Read More

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