The recent resurgence of decentralised finance[herafter defi] has enabled millions across the world with a better access to capital, and a means to earn passive income. This however, has brought its own challenges, in the form of, high transaction costs & poor trade success rates, limited scalability, niche-use lending products that are sub-par to their centralised counterparts, & the unresolved issue of trade front-running. These issues ultimately yield an unsatisfactory experience, pushing the wider adoption farther into the future, for an otherwise fundamental application of blockchain technology.
Open protocol, a network of decentralised protocols & their implementation re-envisions present-day DeFi to design transformative solutions as an alternative to the way decentralised financial organisations[DFO] today operate. Open is building a multi-chain interoperable decentralized finance ecosystem capable of enabling near instant cross-chain swaps, under-collateralized loans upto 1:3 collateral-to-debt ratio, at predictive interest & yield rates. As Open matures, we plan to introduce additional protocol standards including one for decentralised credit underwriting.