Key facts:
“Everyday DeFi” will be unveiled during Consensus 2022, in Austin, Texas.
IOVLabs seeks to make decentralized finance easy to use and affordable.
IOVLabs wants to make decentralized finance more accessible and useful for everyday users. That goal will be achieved through its “Everyday DeFi” initiative, which will be unveiled during the Consensus 2022 conference in Austin, Texas. The new initiative will finally bring the first billion users into the everyday of decentralized finance.
Through “Everyday DeFi”, IOVLabs aims to remove the barriers that prevent everyday users from participating in decentralized finance. Also, the team recognizes that there are many underserved people in traditional financewhich can benefit from a radically different approach to these products and services.
Where is IOVLabs headed?
“Current DeFi solutions are too complex for regular users. That is why it has only been used by an elite of advanced users. At IOVLabs, we create and continue to contribute to decentralized technologies like the Rootstock Blockchain and the RIF platform, which make decentralized finance easy to use and affordable. We are building a DeFi ecosystem for everyone”.
Diego Zaldivar, CEO of IOVLabs and co-founder of RSK.
IOVLabs has made significant progress in the development of the Rootstock Blockchain and its ecosystem. Rootstock is the first platform to introduce smart contracts secured by the Bitcoin network. Additionally, the team has introduced RIF services, a set of decentralized tools to help developers establish decentralized sharing economies.
While these technologies are a solid addition, IOVLabs has its eye on a much larger goal. Unlocking “Everyday DeFi” remains the ultimate goal, and the team will build and integrate new technologies. That process will allow Fintech and Web3 innovators to create the first generation of “Everyday DeFi” applications, on the RSK network.
The first technology to be developed is RIF Aggregation, a second layer scaling solution that leverages zkSync technology. Thanks to its highly scalable rails, transactions between users will be processed faster.
Additionally, RIF Aggregation will aggregate a large number of transactions for various RSK assets and introduce low-cost, near-instant transfers. Users will also be able to pay transaction fees for the token they wish to transfer.
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About IOV Labs
IOVLabs develops blockchain technologies needed for a new global financial ecosystem that fosters opportunity, transparency, and trust. The organization currently develops the RSK Smart Contract Network, the RSK Infrastructure Framework (RIF), and the Taringa!
RSK Network is one of the most secure smart contract platforms in the worlddesigned to harness the unprecedented processing power of Bitcoin while expanding its capabilities.
The RSK Infrastructure Framework (RIF) is a set of open, decentralized infrastructure protocols that enable faster, easier, and more scalable development of distributed applications (dApps) within a unified environment. Taringa! is the largest Spanish-speaking social network in Latin America with 30 million users and 1,000 active online communities.
For more information, visit: iovlabs.org/press
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