Top Protocols Join Forces to Strengthen DeFi Narrative

London, United Kingdom, 7th February, 2023

For 24 hours, more than 30 of the top decentralized financial protocols have come together to showcase the open, composable, and permissionless merits of DeFi. More than thirty top projects in the industry are participating in a creative campaign where they extol the interoperable nature of Web3 by “permissionlessly” sharing tweets from other protocols and reinforcing the trustless nature of DeFi. 

The participating DeFi ecosystem includes projects such as Yearn, Element, CoW Swap, Balancer, Aura Finance, Euler, Gearbox, Dopex, Pods, Opyn, SushiSwap, DegenScore, MakerDAO, Stake DAO, Zerion, Ajna, Aave, Oasis.app and Podss Finance. They are all projects that are changing the narrative around crypto. In the wake of recent crashes in centralized finance, the case for DeFi has never been stronger. The smart contracts and open-source code that governs decentralized protocols have proven to outperform imperfect humans who are incentivized to convince their users to trust them based on arbitrary reasoning.

DeFi, compared to traditional finance applications and banks, is a collaborative space. This campaign is a celebration of the fact that DeFi thrives when protocols and Web3 organizations can plug into each other and compound innovation and user experiences. This group initiative is an experiment that could only work in Web3.

“There is something special happening in Decentralized Finance. This campaign celebrates what makes DeFi different from the systems it seeks to replace – executed in a way that could only work in this space. We hope it will serve as yet another reminder that, in the wake of CeFi blow-ups, DeFi stands apart not only through its technological composability but also its shared values.” Draper, CMO, Yearn.

“To realize the full potential of DeFi, we need collaboration, where a diversity of ideas and expertise come together to create new and innovative financial solutions for a decentralized world. Together, we can push the boundaries of traditional finance and build a more inclusive and accessible financial system through DeFi. By joining forces, we can drive the industry forward and bring the benefits of decentralized finance to people worldwide. This campaign is a shining example of DeFi innovators coming together to showcase inclusiveness, the spirit of collaboration, and the shared belief that only by standing together can we deliver meaningful change.” – Mamun Rashid, CMO, GrowthCU at Maker. 

“We’re building DeFi to replace the status quo financial framework. Historically, the traditional financial framework creates moats and introduces opacity, reducing economic freedom and making markets less efficient and safe. Leveraging the composability of this new technology, we can democratize and provide more equitable, safer, and transparent financial tools and products to reach a global audience. From here, DeFi only scales as it becomes a permanent fixture in the crypto industry and broader, global financial framework. Our responsibility as builders is to remain true to our mission and work together to build to serve everyone.” – Jared Grey, Head Chef – Sushi

“Today marks a shift in the tide for the collective representing Web3’s financial sector. We dream of stacking our tools like money Legos, but until the tech catches up, we must never cease to work on finding common ground and aligning our values so that we put ourselves in a position to serve accordingly. Social change is one of the key elements that will drive DeFi into the mainstream, and today we come together to recognize that no project will be able to complete this mission alone.”- Fernando Martinelli, CEO of Balancer Labs

This campaign celebrates the best qualities of DeFi positively and memorably, honing into its permissionless foundation and common values shared by the industry. DeFi thrives when protocols and web3 organizations can plug into each other and compound innovation for enhanced user experiences. DeFi is open, permissionless, and composable, but the integral quality that ultimately separates it from CeFi is collaboration.

Contact

Meghan Gardler
Balancer Labs
meghan@balancer.fi