Ontology Partners With Four DeFi Service Providers

Siamak Masnavi

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