DeFi still has a long way to go before it is taken seriously as a competitor of traditional finance, but its parabolic adoption in the last year could be the start of an economic revolution. In order to speed up this process, Radix DLT, a blockchain protocol specifically built to benefit DeFi applications, has created and launched the Goodfi Alliance. In collaboration with AAVE, Chainlink, Messari Capital, and mStable, some of the biggest players in the blockchain industry, Goodfi Alliance will work to evangelize DeFi to everyone.
Non-Partisan and Industry Focused
Established as a non-profit initiative, Goodfi has one goal, and one goal only: the introduction of DeFi to as many people as possible. The alliance has massive plans already, intending to get one hundred million people to put at least $1 into DeFi applications. The program’s backers plan to accomplish this feat by 2025 using the brains and resources of some of the top DeFi contributors.
Goodfi is taking a multi-faceted approach to spreading DeFi, focusing on education, research, and awareness to accomplish its mission. Goodfi also plans to collaborate with more businesses, organizations, and other influential bodies that want to promote DeFi solutions. Since many different platforms undertake this initiative, some of which will inevitably compete against others in the alliance, all promotions will be neutral and focused on the DeFi industry as a whole.
Goodfi won’t only be focusing on introducing DeFi technology to end-users, but also to companies that can benefit from these innovations. The consortium will regularly produce and release educational materials, as well as advisory materials that can be especially useful to companies looking to get involved in the space. By teaching as many as possible about the opportunities that DeFi can unlock, Goodfi hopes to spur growth in the industry and restore power to the disenfranchised – the 99 percent. Many are not aware of the potential DeFi brings; Goodfi plans to open their eyes.
Radix Wants to Make a Difference
Many competing blockchains are looking to make their mark in the DeFi space, but Radix is one of the only blockchains that caters to the needs of DeFi developers and users almost exclusively.
That being the case, its decision to establish an initiative such as Goodfi makes perfect sense. The endeavor will be good for the perception of the industry as a whole, which in turn should be advantageous for Radix. It also makes sense why other decentralized platforms and blockchain-focused investors have gotten involved, since they all have the same collective goal of promoting the industry.
When other organizations begin to see the alignment of industry incentives, they may also be motivated to get involved. One hundred million is a significant number of people. If Goodfi is able to make good on its promises and reach this goal, the cryptocurrency, blockchain, and DeFi ecosystems will have a new army of users ready to fight on its behalf.
Disclaimer: The writer has a personal relationship with Radixand used this relationship to source insights for this article. The Daily Chain encourages you to carry out your own research before you make any form of investment and educate yourself about how to stay safe in the crypto space. This article is informational/educational and does not represent financial advice.