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ALQO makes an entrance in the DeFi sector with DeFs ecosystem

By Inkarias - 2020-11-20

In the DeFi era, it is not uncommon for projects already recognized in the crypto market to launch their own ecosystems or add functionality in order to offer their communities the benefits of farming. The Alqo project has recently focused on the development of a whole new ecosystem for financial services, called DeFs by launching the first phase of financing fully completed in less than 24 hours. This first funding fully secures the first part of development for ALQO Substrate and Polkadot-based Parachain. These newly secured funds will help finalize the parachain, a new browser extension wallet, and phase 1 contract associated products.

The main objective introduced with the team’s vision is to work toward bridging the traditional financial services industry with decentralized products simply and safely. After launching Bitfineon which encountered a large success within the community, ALQO´group is now entering the DeFi sector to help investors making the right choice for their financial independancy. For reminder, Bitfineon is a German-based crypto-asset trading platform with a network secured using the Quark hashing algorithm.

Why Substrate and Polkadot as a support?

Since crypto-currencies have become widely democratized, these have revealed significant advantages but also problems that needed to be resolved, such as scalability, for example. ALQO's development team has chosen Substrate and Polkadot frameworks due to their highly scalable and secure nature and for the strong support they receive from the communities. From a technical point of view, the use of this general framework and these supports will easily make it possible to offer interoperability between products while offering the best possible quality for investors. By building the project's foundations on a solid technical vision, Defs will not have to worry about the potential problems that are still found in a large number of projects today.

All the details regarding this new ecosystem can be found in the official website at https://alqo.finance