Alkemi Network is launching out of secrecy as the world’s first-ever decentralized liquidity network to introduce institutional DeFi. Talking about its goals in a more specific way, the company wants to bridge traditional finance with decentralized finance in such a way that it lasts longer. The team behind this project has a lot of futuristic ideas for this industry and they have the capability to change the finance industry from its root.
But What Is Alkemi Network?
Alkemi network is the world’s first-ever decentralized liquidity network that has institutional DeFi support. The company has a lot of expectations that it has to live up to. Everyone knows, bridging the huge gap that is present between centralized and decentralized finance is not an easy task. The company’s main goal Is to bring centralized financial institutions into the decentralized finance ones. They plan to do so by compliant bridges that provide DeFi access. This is a great initiative as it gives CeFi institutions a chance to use DeFi in a trustworthy counterparty liquidity environment.
Essentially, Alkemi Earn’s flagship agreement provides KYC/AML compliant loans and unsecured loans. This is an attractive option for institutional investors and those who wish to obtain DeFi authorized to access. Alkemi Network was established in 2018 and became mainstream by the end of 2020. In a round of investment, it received 4.6 million U.S. dollars along with over $5 million in liquidity deposits seeded. Now is a good time to better understand the people behind this project.
The Firm’s Origin
Co-founders Ryan Brin and Ben Cooper are committed to providing world-class brokerage services beyond digital asset custody. In addition, they are also planning to provide a log with integrated borrowing and borrowing functions. Brian Mahoney brought his CeFi expertise from his days at HSBC. With his help, Alkemi has successfully become a bridge between CeFi and DeFi. The important first step in this process is to recruit centralized financial institutions into decentralized financial institutions and provide them with loans and bonds. The concept of “connecting CeFi and DeFi” sounds simple on paper, but it is a difficult task. The central goal remains to enable centralized institutions such as foundations, family offices, stock exchanges, and custodian banks to use DeFi in a trustworthy environment. It’s just about the time when the DeFi protocol will continue to expand its coverage and services.
People can use Alkemi Network solutions mainly for institutional structures, including digital asset distributors, stock exchanges, and custodians. The Alkemi Network’s team and staff use just the word-of-mouth method to spread their messages across the world which is still the best interactive marketing method.
Alkemi Network’s Achievements And Goals
So far, the Alkemi Network team has quietly launched a $4.6 million financing led by industry leaders such as DeFi and CeFi. The project is currently live on the Ethereum mainnet. It has started to generate revenue in a good amount and people have started to see a growing interest in its Liquidity mining program. The total deposits are approximately US$26 million, and the total borrowings exceed US$14.25 million. Its liquidity providers are Quantstamp, LedgerPrime, JST Capital, Shift Market, etc. The protocol will introduce an unauthorized pool where all the users can deposit Ethereum-based assets to lend and borrow so that they can earn ALK rewards. Moreover, they can also take part in staking pools.
The team is also working hard to launch Alkemi Vaults to take the next step in introducing CeFi to DeFi. Currently, Alkemi Network mainly interests small and medium-sized hedge funds. DeFi has opened up a lot of possibilities for the firm but it also requires calm learning and verification. Despite that, the company is constantly progressing its way towards success.
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