Matic Network Update Feeds || OroPocket On Matic Network
This is the month of September and a lot has happened in Matic Network!!!
With my Update Feeds, I will make sure you don’t miss any important thing within the Matic ecosystem.
This Update Feed is mainly about OroPocket
OroPocket launched an open finance(OpFi) protocol on Matic Network to give exposure to real world asset through DeFi.
Little about OroPocket
Open Finance(OpFi) is a fintech protocol which enables custody of real-world assets on different blockchains and also enabling developers to build application on it.
This protocol is open and so it allows seamless iintegration of other on-chain apps, and also allows multiple chains to cross share the asset classes.
OpFi could enable different institutional investors to fund and be part of crypto, DeFi and blockchain as it removes price slippage hurdles, offer high liquidity, instant settling and gives full insurance and custodianship of physical assets.
This protocol bridge thee gap between the old financial system and DeFi(Decentralized Finance).
Major components of OpFi
- Tokenisation of real world asset
- Instant Trade without the need of exchange
- Instant very low cost loans
- Earn yield on real world assets
- Universal chain support
Why OpFi chose Matic Network
- Matic network offers fast transaction on the ERC20 network and for OpFi being a financial protocol, there’s need for fast transaction.
- Matic network have a low fee which will help micro transactions of OpFi.
- Open Finance Protocol wants to be neutral in their dealings, by building on Matic Network, they are able to stay fully decentralized as Matic Network is fully open and decentralized network.
- Matic being a side chain to the Ethereum Network, existing ERC20 contracts can be easily deployed on it and this is in turn cool for OpFi to deploy contracts.
- OpFi will have access to large number of people from the Matic Community as Matic Network have one of the most active community in the blockchain space. This will definitely help to adopt more users to OpFi.
To read more about OpFi, you should go Here