The Ontology Team has announced partnerships with four DeFi service providers in finance and wealth management.
Ontology's introductory white paper describes it as follows:
"Ontology is a blockchain/distributed ledger network which combines a distributed identity system, distributed data exchange, distributed data collaboration, distributed procedure protocols, distributed communities, distributed attestation, and various industry-specific modules. Together this builds the infrastructure for a peer-to-peer trust network which is cross-chain, cross-system, cross-industry, cross-application, and cross-device."
The Ontology Developer Guide says Ontology is "a new generation of high-performance public blockchains" with an infrastructure that is "scalable, stable, and allows low-level customization for different business requirements."
The Ontology project, which started in 2017, celebrated the first anniversary of its MainNet launch on June 30.
In a blog post published on Tuesday (August 13), the Ontology team announced partnerships with the following decentralized finance (DeFi) companies:
- Babel Finance ("offers flexible products for Ontology’s stable coin PAX", such as “BABEL Current+” and “BABEL Fixed+”)
- LendChain ("will list ONT and PAX and users will have access to collateral loans, wealth management, and other services")
- Fountain Financial (Ontology users will be able to use PAX "to purchase investment products globally, including insurance, funds, and stocks")
- HOX (this will provide Ontology users with a quick and easy way to use ONT to buy US/HK stocks, ETFs, and certain other financial products)
Featured Image Courtesy of The Ontology Team