RioDeFi launches DeFi incubator to bring interoperable blockchain hub to Asia
RioDeFi, an ecosystem of financial products bridging traditional and decentralised finance (DeFi), has launched its DeFi incubation hub following three successful pilot projects that will bring greater blockchain interoperability and strength to the DeFi ecosystem in Asia.
RioDeFi’s incubator hub will enable projects to develop use cases from idea to proven concept, advise on regulatory and sustainable tokenomic frameworks and provide fundraising support from a network of notable venture capitalists and investors.
“DeFi has gained a lot of traction over the past year, and it's been a few months since NFTs have stepped into the limelight. As traditional finance attempts to merge with these new and exciting technologies, the industry still suffers from a lack of insights on regulation and user-protection. Our goal is to help legitimise projects from beginning to end, enabling DeFi to safely bridge with mainstream finance,” says James Anderson, CEO of RioDeFi.
As DeFi tools become merged with mainstream applications, the speed of scalability must not come at the cost of security and sustainability.
The announcement of the hub follows the news of the successful launch of its first three dApps: Lepricon, a gamified DeFi prediction market, LABS, the first end-to-end ecosystem supporting the real estate market, and MANTRA DAO, a community-governed platform focusing on staking, lending and governance. Since incubating, the three projects have raised more than USD15 million in funding.
“In the fast-moving DeFi industry, agility is critical. Incubating within an interoperable ecosystem enabled us to quickly develop a compliant, regulated and sustainable DeFi use case. The blockchain space is maturing and I anticipate that RioDeFi’s approach of incubation will become the norm sooner rather than later,” says John Patrick Mullin, Council Member at MANTRA DAO.
“Incubation hubs represent a tremendous opportunity to access a vital ecosystem of industry experts, investors and merchant partners, as well as a global community of blockchain enthusiasts. The support provided during the incubation process allowed us to launch sustainably and successfully,” says Stephen Browne, COO of Lepricon.
Lepricon, LABS and MantraDAO are the first of many projects to benefit from the network effects of RioChain’s interoperability, low fees and fast transactions, further strengthening the scalability, security and speed of the DeFi ecosystem.
The hub is a move that will accelerate the legitimisation of DeFi and strengthen the bridge between the nascent space and traditional finance. In January, the total value locked in DeFi doubled from under USD20 billion to more than USD40 billion.
But hacks and rug-pulls have plagued the industry, with projects like Meerkat Finance seeing USD31 million losses in its first day of launch.
RioDeFi’s hub will become an important addition to DeFi growth in Asia, seeing the support of new DeFi projects from beginning to end. Projects will also receive end-to-end support with payments, processes and exchange operations, guidance on jurisdiction frameworks, sustainable token model development and KYC process requirements.