Malta-based DeFi solutions provider Paradefi announced on Wednesday that it has partnered with the largest crypto-blockchain community in Indonesia, the Bitcoin Indonesian Alliance (BIA). The partnership is aimed towards creating DeFi awareness in the country and promoting mass adoption.
According to an official Medium post by Paradefi, BIA will function as a bridge to promote DeFi investor awareness, and also will be the community contributor to the Paradefi project. The administrators of the Bitcoin Indonesian Alliance will also play an active role in promoting the unique and utility-rich features of DeFi, which can help the users to generate a decent income.
Paradefi further added that though DeFi is exploding across the globe yielding enormous profits to investors, the segment is still quite new and unexplored in Indonesia, like many other countries. The features, it added, like liquidity, transparency, scalability, interoperability, etc., are extremely beneficial in the financial world, which also help the users to manage their assets and govern the community.
Paradefi is the first DeFi platform to implement the Digital Bank Teller (DBT) protocol. DBT is a dynamic commission algorithm that allows users to work independently between Paradefi and Metamask, and earn commission tracked with cookies via a URL. The partnership with BIA gives its administrators an authority to keep a check on the quality of the Paradefi ecosystem by granting them the right to participate in token governance, voting, and product improvement.