The future of decentralized finance looks promising, with many DeFi assets performing well in 2020. At OKEx, we have been a constant supporter of the development of decentralized finance. Following the listing of Compound’s governance token, COMP, which is the largest DeFi platform, OKEx has also listed two more emerging DeFi coins: DMM’s governance token (DMG) and Celo Gold (CELO).
With so many exciting new developments around DeFi at OKEx, we hosted a Q&A chat with our CEO, Jay Hao, to talk about DeFi and centralized finance (or CeFi), our DeFi projects, as well as the future of the emerging space.
Listen to the full conversation on YouTube:
Q1: What is DeFi?
Seriously? Every crypto person knows it’s decentralized finance. Definitely not “dead fish.”
Q2: CeFi and DeFi — which one is better?
Neither is superior. They complement each other.
Q3: What’s the downside of CeFi?
The transparency of CeFi is still under customers’ major criticism.
Q4: Then, what’s the downside of DeFi?
There is still room for improvement in user experience, liquidity and security, etc., which prevents DeFi from mass adoption.
Q5: How can CeFi and DeFi work together?
DeFi is an automated and efficient method for assets management and settlement thanks to smart contracts. CeFi commonly provides holistic and compliant services, giving users better services.
Q6: What is OKEx doing with DeFi?
OKEx has a marked footprint in DeFi. For example, on our own public chain, OKChain, users can build their own decentralized exchange. OKChain will also support the release of DeFi applications, and users can develop distributed financial application scenarios of their own.
Please visit https://www.okex.com/ for the full report.
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