DeFi
OKX Ventures partners with SOFA.org for DeFi settlements
OKX Ventures, the investment arm of leading cryptocurrency exchange and Web3 technology firm OKX, has announced its role as a founding member of SOFA.org.
According to announcementSOFA.org is an open-source, non-profit decentralized autonomous organization (DAO) focused on building a DeFi ecosystem for blockchain-based atomic settlements of financial assets.
OKX Ventures’ goal with this collaboration is to help establish a secure, industry-wide on-chain settlement system. This effort is seen as critical to the next wave of growth in real-world asset (RWA) tokenization.
On June 7, SOFA.org’s first protocol opened its mainnet, providing a transparent, request for quote (RFQ)-driven marketplace for crypto-structured products. The protocol facilitates transactions between depositors and market makers using pre-built decentralized applications (dApps) and standardized vaults.
By transferring assets to smart contract vaults that function as on-chain custodians, the protocol eliminates counterparty issues and ensures maximum security. Users can also increase their yield by using several elements that provide excellent downside protection.
Additionally, important instrument parameters are immutably recorded on the protocol at the smart contract level, enabling the tokenization of real-risk positions that are recognized by DeFi and CeFi platforms. Tokenization of risk positions increases the efficiency of DeFi capital and benefits both the DeFi and CeFi sectors.
Read also: OKX Ventures supports DePIN in AI and decentralized networks