IOVLabs is pushing the boundaries of DeFi innovation and usability. The team will soon unveil its “Everyday DeFi” initiative for the Rootstock ecosystem, led by a RIF aggregation layer-2 scaling solution based on zkSync.
IOVLabs wants to make decentralized finance more accessible and useful for everyday users. That goal will be achieved through its “Everyday DeFi” initiative to be unveiled during the Consensus 2022 conference in Austin, Texas.
The new initiative will eventually bring the first billion users into everyday decentralized finance.
With “Everyday DeFi”, IOVLabs aims to remove the barriers that prevent daily users from participating in decentralized finance.
Furthermore, the team acknowledges that many are deprived of traditional finance, all of whom could benefit from a radically different approach to such products and services.
Diego Zaldivar, CEO of IOVLabs and co-founder of RSK, says:
“Current DeFi solutions are too complex for regular users. Therefore it is only used by the elite of advanced users.
At IOVlabs, we continue to build and contribute to decentralized technologies such as the Rootstock blockchain and the RIF platform that enable decentralized finance to be easy to use and affordable. We are building a DeFi ecosystem for all, we are enabling DeFi everyday.”
IOVLabs has made significant progress in developing the Rootstock blockchain and its broader ecosystem. Rootstock is the first platform to introduce secure smart contracts by the bitcoin network.
In addition, the team has introduced RIF Services, a suite of decentralized tools to help builders establish decentralized sharing economies.
While these technologies are a solid addition, IOVLabs has its eyes on a much bigger goal. Unlocking Daily DeFi remains the ultimate objective, and the team will build and integrate new technologies.
This process will enable fintech and Web3 innovators to build the first generation of DeFi applications everyday on the RSK Network.
The first technology to be developed is RIF aggregation, a layer-2 scaling solution leveraging zkSync technology. Thanks to its highly scalable Rails, transactions between users will be processed faster.
Additionally, RIF aggregation will aggregate a large number of transactions for various RSK assets and introduce low-fee near-instant transfers. Users will also be able to pay transaction fees for the tokens they wish to transfer.
IOVlabs develops blockchain technology essential to a new global financial ecosystem that fosters opportunity, transparency and trust.
The organization currently includes the RSK Smart Contract Network, the RSK Infrastructure Framework (RIF), and the Taringa! Develops Platforms.
RSK Network is one of the more secure smart contract platforms in the world, designed to take advantage of bitcoin’s unique hash power, while expanding its capabilities.
RSK Infrastructure Framework (RIF) is a suite of open and decentralized infrastructure protocols that enables fast, easy and scalable development of distributed applications (DApps) in an integrated environment.
Taringa! is the largest Spanish-speaking social network in Latin America with 30 million users and 1,000 active online communities.
For more information visit the IOVLabs website