IOVLabs Launches Its ‘Everyday DeFi’ Initiative on Rootstock -Breaking
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© Reuters. IOVLabs Launches Its ‘Everyday DeFi’ Initiative on Rootstock- IOVLabs announced that its “Everyday DeFi” initiative will be unveiled shortly.
- This initiative will be presented at the Consensus 2022 conference, Texas.
- IOVLabs is aiming to eliminate the obstacles that prevent everyday people from taking part in decentralized financial services.
IOVLabs has announced that its “Everyday DeFi” initiative will be unveiled during the Consensus 2022 conference in Austin, Texas. This new initiative, according to IOVLabs, will eventually bring in the first billion people who use everyday decentralized financing.
IOVlabs, a company that develops Blockchain technologies. The organization currently develops the RSK Smart Contract Network, RSK Infrastructure Framework (RIF), and Taringa!’s platforms.
Through “Everyday DeFi”, IOVLabs aims to remove the barriers preventing everyday users from participating in decentralized finance. The IOVLabs team recognizes the need to provide financial services for people who are not served by traditional finance.
Diego Zaldivar (IOVLabs CEO, RSK Co-Founder) adds:
“Current DeFi solutions are too complex for regular users. That’s why it has only been used by an elite of advanced users. IOVlabs is a pioneer in decentralized technology, such as the Rootstock Blockchain or the RIF platform. This allows Decentralized Finance to become affordable and easy-to-use. We are building a DeFi ecosystem for everybody, we are enabling Everyday DeFi.”
IOVLabs says it made major progress in developing Rootstock Blockchain, and the wider ecosystem. Rootstock was the first platform that introduced smart contracts, which are secured through the network. The team also introduced RIF services which are a set of tools that can be used to build Decentralized Sharing Economys.
IOVLabs representatives say these technologies are an important addition to their portfolio, but they also have a bigger goal in mind. The ultimate goal of IOVLabs is to unlock Everyday DeFi. To that end, the team will continue building and integrating new technologies. This will allow fintech innovators and Web3 experts to create the first Everyday DeFi application on the RSK network.
RIF Aggregation is the first technology that will be created. This layer-2 scaling solution leverages zkSync technology and it’s the first technology. Its highly adaptable rails will make transactions between users faster.
“Additionally, RIF Aggregation will aggregate a high number of transactions for various RSK assets and introduce low-fee near-instant transfers. Users will also be able to pay transaction fees for the token they want to transfer,” says members from the IOVLabs team.
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