BlocksInform
Fist bump emojis rolled out through crypto Twitter in the past 24 hours, bursting through feeds tuned to tuned to DeFi—but it wasn't just another viral trend among crypto and web3 profiles. On the contrary, this was a joint declaration on the way decentralised financial protocols envisage the future of the sector.
Defi protocols have gathered in what may be a rare showcase of unity to promote the basic values of web3 - decentralization, permission, and composability. Emojis of the first time have been designed to symbolize the unity of the sector in pursuit of these ideals, representing crypto collaboration that extends through networks and platforms. This is a powerful message of significant challenge protocols, It's also a statement on how the challenge has gone out of its way, in the last year in particular, overcome the challenges posed by traditional financial systems and their governing authorities.
Yearn Finance has released a Twitter thank you video to celebrate the campaign:
It's Tuesday, so let's discuss Monday...
Through all the protocols and projects involved in the campaign. This is what we did, and why we did it??? . (sorry gabriel). pic.twitter.com/uLsjeeJgMP
— yearn (@iearnfinance) February 7, 2023
It's based on video, Some high-level challenge protocols have been integrated into the campaign, including: SushiSwap, Kyber Network, Yearn Finance, ParaSwap, Stake DAO, Bungee Exchange, Threshold Network, Lido Finance, MakerDAO, Balancer, Perpetual Protocol, Polynomial Protocol, Zerion, Aave, PodsFinance, Arbitrum, Carbon, USDfi, 1INCH Network, DegenScore, LeverFi, Phi, Dopex, Dexsport, Neko Protocol, Shorter Finance, and Risky.
"Together, we can push the frontiers of traditional finance and build a more inclusive and accessible financial system thanks to the challenge," says mamun rashid, cmo at makerdao.
After the sudden meltdown of multiple ecosystems and crypto platforms linked to centralized entities last year, the main players in the industry of the decentralized finance system (challenge) came together to restore the confidence of challenged investors.
"We fight fists, because we are in this whole, the construction of a new, open, composable financial system with values that are different from what came before," the video said.
The initiative challenged how to demonstrate the spirit of its technology as a seamless and interoperable ecosystem, rather than an ecosystem driven by rivalry and greed. As a challenge for the current financial system, challenge creates a completely new framework that aims to remove financial barriers and open up economic freedom through its platforms.
'exploit this new technology's composability, we can make things more democratic and more equitable, safer, and seamless financial tools and products to reach a global audience," says Grey, sushiswap's chief executive officer.
Notwithstanding the fact that challenge has gained the credibility of the majority with a variety of leading institutions joining, its reputation is still somewhat tarnished by many safety issues: the industry has often been the subject of large-scale exploits over the last two years, That is about $2 billion in achievements, with a total of three and a half billion dollars, including losses due to security violations in the audited protocols.
In spite of these challenges, it seems that the challenge community is strong, supportive and confident in the vision of a truly decentralised future through Web3.
