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OKX Ventures Becomes Founding Member of SOFA.org to Support Development of an On-chain Settlement Framework for Crypto Structured Products

OKX Ventures Becomes Founding Member of SOFA.org to Support Development of an On-chain Settlement Framework for Crypto Structured Products

SINGAPORE, June 14, 2024 /PRNewswire/ — OKX Ventures, the investment arm of leading crypto exchange and Web3 technology company OKX, today announced that it has become a founding member of SOFA.org, an open-source and non-profit decentralized autonomous organization (DAO) focused on developing a DeFi ecosystem that facilitates atomic, blockchain-based settlements of financial assets.

Through its collaboration with SOFA.org, OKX Ventures seeks to support the development of a secure, industry-wide on-chain settlement framework. This is a critical component for the upcoming growth wave of real-world assets (RWA) tokenization.

With its first protocol’s mainnet launched on June 7, SOFA.org aims to offer a transparent, request-for-quote (RFQ)-driven marketplace for crypto structured products, enabling execution between depositors and market makers through ready-made dApps and standardized vaults. The protocol ensures maximum security as it eliminates counterparty risks by transferring assets to smart contract vaults, which act as on-chain custodians. Users stand to gain additional yield from a diverse range of products with robust downside protection.

In addition, vital instrument parameters are immutably stored on the protocol at the smart contract level, enabling tokenization of authentic risk positions that can be recognized by both DeFi and CeFi platforms. This tokenization of risk positions improves the efficiency of DeFi capital, and benefits both DeFi and CeFi sectors.

For further information, please contact:
+65 88107289
[email protected]

About OKX Ventures
OKX Ventures is the investment arm of global leading crypto exchange and Web3 technology company OKX. It focuses on exploring the best blockchain projects on a global scale, supporting cutting-edge blockchain technology innovation, promoting the healthy development of the global blockchain industry, and investing in long-term structural value.

Through its commitment to supporting entrepreneurs who contribute to the development of the blockchain industry, OKX Ventures helps build innovative companies and brings global resources and historical experience to blockchain projects.

Find out more about OKX Ventures here.

About SOFA.org
SOFA.org is a decentralized, non-profit, and open-source DAO dedicated to developing a trustless, DeFi ecosystem capable of atomically settling financial assets on the blockchain. The organization’s first protocol will focus on crypto structured products, enabling seamless execution between depositors and market makers through a ready-made dAPP and standardized vaults. SOFA.org is supported by a number of leading DeFi builders and crypto platforms, and more information can be found at https://sofa.org/

Disclaimer

SOURCE SOFA.org

Originally published at https://www.prnewswire.com/news-releases/okx-ventures-becomes-founding-member-of-sofaorg-to-support-development-of-an-on-chain-settlement-framework-for-crypto-structured-products-302172001.html
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