IOVLabs, the DeFi platform, has announced intentions to debut its “Everyday DeFi” initiative. The launch will take place at the Consensus 2022 conference in Austin, Texas. IOVLabs intends to use the initiative to make decentralized finance more accessible by removing the obstacles to entry. Ultimately, the goal is to bring the first billion people to Everyday DeFi. Following the launch, DeFi, fintech and Web3 developers will have the opportunity to create the first generation of applications that run on the Rootstock (RSK) network.
How IOVLabs plans to get 1 billion DeFi users
Rootstock is the first platform to implement Bitcoin-based smart contracts. RSK Infrastructure Framework (RIF) Aggregation, a layer-2 scaling solution running on zkSync, is a pioneer technology by IOVLabs. Also, it is now available for public use. It will be able to do near-instant transfers thanks to its extremely scalable rails. In addition, the RIF Aggregation will enable low-fee transactions while simultaneously aggregating a large number of transactions. In addition, users will have the ability to pay transaction fees for the tokens they wish to send.
For the creation of distributed apps (dApps), the RIF protocol suite provides an open and decentralized architecture. This architecture enables developers to work on multiple projects at the same time while maintaining a unified interface. In addition, the team has released RIF services, a set of decentralized tools for building Decentralized Sharing Economies.
IOVlabs develops the blockchain technology necessary for a new global financial ecosystem that promotes opportunity, transparency, and trust. It recognizes that there are a lot of individuals underserved by traditional finance. However, all of those people could profit from taking a completely different approach to products and services like these.
IOVLabs CEO and RSK Co-Founder Diego Zaldivar stated ,“At IOVlabs, we created and continue to contribute to decentralized technologies like the Rootstock Blockchain and the RIF platform that enable Decentralized Finance to be easy to use and affordable.”