MakerDAO, Compound, and dYdX join Huobi's DeFi Consortium

MakerDAO, Compound, and dYdX join Huobi’s DeFi Consortium

According to Forklog, citing Cointelegraph, the DeFi-focused division of Huobi has formed the Global DeFi Alliance, an international consortium of centralized and decentralized financial service providers and platforms. This consortium has already been joined by projects such as MakerDAO, Compound, Nest and dYdX. In the near future, the organizers of the Global DeFi Alliance are preparing to accept new members.

The consortium’s goal is to promote DeFi projects, as well as develop the ecosystem, including through the unification of “disparate DeFi communities in the Asia-Pacific and Western regions.” DeFi Labs, which leads the Huobi consortium, was established earlier this month. The division received tens of millions of dollars of its own fund.