IOVlabs, one of the leading names taking DeFi adoption to the masses has announced fresh plans to onboard the next generation of users. The blockchain innovator which spearheaded using Bitcoin as a consensus layer for DeFi, announced the “Everyday DeFi” initiative which would trigger a global adoption of DeFi solutions.
IOVLabs aims to utilize the Rootstock technology in its adoption plan. The platform already supports fintech innovators with blockchain solutions and this could be a game-changer. The team noted that it would provide more details on “Everyday DeFi” during the Consensus 2022 conference in Austin, Texas. Consensus is one of the most popular crypto events. So, the initiative is sure to open the gates to the first billion DeFi users.
— RSK (@RSKsmart) June 2, 2022
Most people consider DeFi and crypto a bit complex. As a result, this has limited adoption. However, the “Everyday DeFi” initiative is out to change all that. The campaign aims to lessen the barrier to entry into the DeFi market. According to IOVlabs CEO and RSK co-founder Diego Zaldivar, the initiative will surpass seeming hurdles to DeFi adoption.
Diego reportedly said in a statement, “Current DeFi solutions are too complex for regular users. That’s why it has only been used by an elite of advanced users. At IOVlabs, we created and continue to contribute to decentralized technologies like the Rootstock Blockchain and the RIF platform that enable Decentralized Finance to be easy to use and affordable. We are building a DeFi ecosystem for everybody, we are enabling Everyday DeFi.”
Everyday DeFi to Change the Narrative
IOVlabs sees the DeFi space as one of the most important parts of the evolving digital economy. As a result, its Everyday DeFi product has the capacity to redefine access to financial services. The elites in the crypto world such as venture capitalists and other players are strongly represented in crypto. But, this initiative wants to ensure ample representation of the ordinary masses.
IOVlabs has put in several efforts over the months to ensure it plays a part in adoption. First, it developed the Rootstock blockchain and its ecosystem. In addition, the company wishes to continue developing and integrating new technologies. IOVLabs have prioritized recruiting the greatest brains in finance and Web3 innovation. As part of its approach, the team announced the launch of the RIF Aggregation. This is a unique layer-2 scaling solution built on zkSync technology. In fact, activities between users will be handled quickly thanks to the RIF Aggregation’s highly scalable rails.
Furthermore, it pools a large number of transfers for various Rootstock-issued assets. This lowers fees and facilitates near-instant transactions. And we expect more details about this groundbreaking initiative will emerge in the coming weeks.
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