In the recent announcement, Nest Protocol and FIBOS IBC protocol have associated to develop DeFi and blockchain applications. The strategic alliance stated that the two parties will team up with the FIBOS, the decentralized cross-chain plan, initially.
Later, they will work with the FIBOS DEX protocol, the decentralized exchange protocol progressively, to research decentralized digital asset mortgage lending products, where they intend to develop several blockchain applications.
As a team, they will promote the ecological promotion and interaction of the two sides and proceed to explore in-depth participation in blockchain business applications, community governance, and the latest technology developments. Moreover, the partnership declared that they would together build the NEST and FIBOS Ecosystem.
The NEST Protocol can be explained as a DeFi ecosystem, dependent on the Ethereum framework. Presently, DeFi products are developed based upon the NEST Protocol. This includes decentralized digital asset mortgage lending, forecast, auctions, and several others through smart contracts.
As of late, the NEST DAPP group built up a decentralized smart contract, front-end interactive tool named as NEST DAPP. Further, with NEST DAPP, clients can operate, deploy, and oversee smart contracts with a single click by using DeFi services and products on NEST effectively.
Simultaneously, NEST DAPP comes along with the Ethereum lite wallet function, which supports multi-wallet and the multi-asset operations. Moreover, NEST, which was authoritatively launched on December 19, 2018, supports a mortgage of ETH for borrowing mainstream Ether resources, like ETH, MKR, USDT, TUSD, DAI, BAT HT, LOOM, and OMG.
FIBOS is a platform for developing the blockchain application ecosystem. FIBOS utilizes a DPOS agreement mechanism, which is known for superior performance, works on a balanced decentralized smart contract to meet the requirements of large scale business applications. Moreover, it comes with a double smart contract development system and engine.
Established in Toronto, Canada, in 2016, FIBOS aims to empower developers and business people to make their value framework effectively. It also simplifies smart contract development methods, bringing down development thresholds and significantly lessening the development, learning, deployment, and redundancy expenses of blockchain promotions.