The GoodFi crypto DeFi alliance is a non-profit initiative launched with the goal of getting 100 million people putting at least $1 billion in DeFi by 2025.
On Thursday, February 11, decentralized finance (DeFi) protocol Radix has announced a new crypto alliance GoodFi bringing some of the biggest DeFi players together. The early participants of the alliance include some of the big names like Chainlink (LINK), Aave (AAVE), Radix, and mStable.
Besides, data analytics company Messari is also part of this non-profit initiative. The GoodFi alliance aims to bring education, research, and best practices for the decentralized finance (DeFi) industry. Of course, the ultimate goal is accelerating DeFi adoption in the mainstream market.
The official announcement notes that GoodFi’s goal is getting 100 million people putting at least $1 billion in DeFi by 2025. The DeFi market has already exploded so far in 2021. Over the last year, the DeFi market cap has gone from under $1 billion to more than $40 billion today. Speaking of this development, Piers Ridyard, CEO of Radix and the founder of GoodFi said:
“Individually, the companies behind GoodFi are growing rapidly, yet we all share a common goal to bring the benefits and potential of DeFi to a global, mass market. While DeFi has seen meteoric growth in the last 18-months, the industry is still only accessed by a fraction of the global financial sector. GoodFi provides a platform for leaders in the DeFi space to tackle industry-wide problems and provide clear education and research for both users and developers looking to enter the space.”
GoodFi Is to Support Explosive Growth of DeFi
The demand for decentralized finance (DeFi) that connects financial products and services worldwide has grown in current times. Unlike traditional finance, Defi gives its user better control over their money while offering a higher layer of transparency and fairness.
The announcement notes that the DoogFi alliance will encourage other businesses to join and contribute in the field of research, education, and other awareness activities. It also notes that GoodFi’s scope is not just limited to the existing crypto audience. Rather it caters to a wider audience looking to tap into new opportunities and security of digital assets. Speaking to CoinTelegraph, Ridyard said:
“The key resource here is not money, but time. Specifically, the time of the people who are in the best place to help the DeFi industry both understand the target customer better, and expand our addressable market by helping a broader audience understand why DeFi is both good and important to get involved with.”
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
