DeFi Titans Begin A Campaign To Boost Decentralization Awareness

Key Points:

• The DeFi project team’s work has resulted in a “community coordinated experiment” to raise awareness of the concept of decentralization in crypto.
• The above-mentioned DeFi initiatives anticipate that their messages will reach up to 2 million Twitter users, which is four times the total number of followers on the group’s accounts, which is little over 500,000.

Following the “hidden” that generated a stir in the crypto community, leading DeFi projects have planned a campaign to raise awareness about cryptocurrency decentralization following the collapse of several key institutions in 2022.

On the morning of February 4, a number of well-known DeFi enterprises on Ethereum abruptly tweeted an image of a “handshake” with the word “Monday,” referring to significant news that will be revealed on February 6th.

The crypto community has been speculating a lot about what the key companies will unveil, from a new protocol that connects all DeFi systems to the long-awaited Arbitrum token airdrop. As of today, however, the collaboration of the above project team has ended up becoming a cooperative effort to create awareness of the spirit of decentralization in crypto, known as a “community coordinated experiment“.

Accordingly, about 15 top projects on Ethereum, including Yearn Finance, Maker, Aave, dYdX, Lido, Element, SushiSwap, Balancer, Aura Finance, Kyber Network, 1inch, Dopex, CowSwap, Gearbox Protocol, Opyn, StakeDAO shared the message of cooperation, as well as the decentralized philosophy that has always been praised as the foundation of the entire crypto field in general and DeFi in particular, but seems to have been forgotten in the current period. Market expansion will be rapid in 2020-2021, resulting in chain collapses in 2022.

“After the recent crashes, the necessity for DeFi has never been more critical,” organizers added. The decentralized protocols’ smart contracts and lines of code have shown to be more powerful than fallible individuals who can only persuade others to believe in themselves with arbitrary justifications.

This campaign exemplifies how these initiatives may band together, collaborate, and share the notion that the power to change resides in the hands of the people. Together, we will push the established financial industry’s boundaries and extend access to credit through DeFi.”

The above-mentioned initiatives anticipate that their messages will reach up to 2 million Twitter users, which is four times the total number of followers on the group’s accounts, which is little over 500,000.

According to DeFiLlama data, DeFi’s lock-in value (TVL) regained by market in 2023, rising 25% since January 1 to $48 billion.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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