Dublin, Ireland - March 1st, 2022 -- The Algorand Foundation is delighted to welcome Defactor to the Algorand ecosystem as the latest grant recipient. Defactor has been awarded a grant to develop a suite of decentralized finance (DeFi) products on Algorand including a Defactor Algorand NFT Collateral Engine, Liquidity, and Staking pools.
Defactor, a global leader in decentralized finance DeFi, helps innovative companies to access this new connected economy with confidence. As one of the first platforms to put real-world assets onto the blockchain, Defactor enables asset originators and investors to easily join and build a stronger financial future. Defactor has been awarded a grant from the Algorand Foundation to expand DeFi products on Algorand. The project will be delivered in three phases over 2022.
Alejandro Gutierrez, the Operations Lead and Co-Founder at Defactor, was thrilled about the grant award and commented: "We are honored to have received this grant from such an innovative and respected organization such as the Algorand Foundation. This grant further validates our mission at Defactor – to bring traditional businesses to DeFi – and we look forward to working to help expand their ecosystem".
Defactor will continue its collaboration with the Algorand Staking Algo-Factr pool that will allow the Algorand token holders to earn $FACTR tokens.
The structure of the NFT collateral engine will be built for inclusion, access, and user experience, plus collaboration will be conducted between the companies to launch the Defactor-Algorand liquidity pool, bringing exclusivity and utility to the space.
The Algorand Foundation brings a variety of values to the entire DeFi ecosystem through its programs including hackathons, developers programs, resources and the famous grants program.
Jason Lee, COO, Algorand Foundation, was delighted about hitting new highs in the Algorand blockchain collaboration and said: "We’re excited to partner with Defactor to simplify the process for asset originators and make it easy to access DeFi liquidity. We’re delighted to welcome Defactor to the Algorand ecosystem and look forward to our partnership bridging the gap between TradFi and DeFi".
Acceleration of real-world asset originator (RWAO) funding and staking pools are to break new barriers in finance, with the help of Defactor and Algorand's leadership.
About Defactor
Defactor, a global leader in decentralized finance (DeFi), helps innovative companies to access this new connected economy with confidence. As one of the first platforms to put real-world assets onto the blockchain, Defactor enables asset originators and investors to easily join and build a stronger financial future. By leveraging our integrated platform, the native $FACTR token, and the broader ecosystem, Defactor provides a seamless and secure process that supports the ambitions of our clients, investors, and communities. For more information, please visit Defactor.com or follow us on Twitter | LinkedIn | Discord.
About Algorand Foundation
The Algorand blockchain -- designed by MIT professor and Turing Award winning cryptographer Silvio Micali – is uniquely capable of delivering on the promise of a borderless global economy. It achieves transaction throughputs at the speed of traditional finance, but with immediate finality, near zero transaction costs, and on a 24/7 basis. Its carbon-neutral platform and unique pure proof-of-stake consensus mechanism solves for the “blockchain trilemma” by achieving both security and scalability on a decentralized protocol, and without a second of downtime since it went live in 2019.
The Algorand Foundation is dedicated to helping fulfill the global promise of the Algorand blockchain by taking responsibility for its sound monetary supply economics, decentralized governance, and healthy and prosperous open-source ecosystem.
