AllianceBlock and Plasma.Finance Announce Wide-ranging Strategic Partnership
AllianceBlock is delighted to announce that it has formed a strategic partnership with Plasma.Finance and has agreed a series of mutual collaborative and future initiatives. Plasma.Finance is a one-stop shop for DeFi, allowing users to invest, store, deploy, and manage any DeFi token in a simple manner. The protocol features fiat on/off ramps, lending and borrowing, a decentralized exchange, cross-chain asset swaps, and yield aggregation strategies.
The partnership will see Plasma.Finance utilize AllianceBlock’s Liquidity Mining as a Service (LMaaS) product. This will enable Plasma.Finance to provide pools across an extensive range of AMMs, including the currently supported Binance Smart Chain, Uniswap, and Balancer, as well as all future additions. It allows Plasma.Finance to leverage our Single-Sided Liquidity Provisioning, which enables PPAY holders to supply solely PPAY tokens and benefit from the same staking rewards, while being assured of impermanent loss protection.
Furthermore, Plasma.Finance will integrate these tools to its Launchpad. This means that any Plasma.Finance project can take advantage of the same functionality. As part of the partnership, the first five projects to use Plasma.Finance will be able to use the LMaaS free of charge.
Additionally, AllianceBlock will integrate PlasmaSwap — Plasma.Finance’s decentralized exchange — into its liquidity mining program, while AllianceBlock will be amongst the first 20 strategic partners to launch a pool on PlasmaSwap. This will add a fourth supported AMM to the ALBT rewards program. Plasma.Finance’s fiat on/off ramps will also be integrated into AllianceBlock’s protocol.
Finally, the two teams will explore future opportunities for collaboration moving forward. This will include a wide range of avenues, such as data, peer-to-peer lending, and NFTs. The two firms will also assist in each other’s promotional and engagement activities, to help build the fintech and blockchain ecosystem.
Rachid Ajaja, CEO of AllianceBlock, commented: “Plasma.Finance is an exciting addition to the DeFi space. It understands both the need for technological innovation, but also that there is much to be done to improve the user friendliness of DeFi. This is an important focus for us, as we understand that making DeFi more accessible is an important part of bridging the gap between DeFi and TradFi. We are delighted to be partnering with Plasma.Finance on a wide range of initiatives that will continue to drive value to the AllianceBlock ecosystem.”
Ilia Maksimenka, CEO of Plasma.Finance, noted: “It’s been a long-held dream for DeFi to realize the “all-to-all” access promised by open finance so I’m pleased to say that this latest partnership will get us closer to that reality. AllianceBlock has an impressive range of additional pools that our PPAY users can now seamlessly interact with, while benefiting from impermanent loss protection. We also hope new projects we onboard see the benefits of AllianceBlock’s LMaaS (access to BSC, Balancer and Uniswap, to mention a few) — the lucky first five get to use it for free too!”
About Plasma.Finance
PlasmaPay is a global digital payment platform enabling seamless entry into decentralized finance. PlasmaPay provides industry-leading UX, crypto/fiat wallets, and fiat on/off ramp services. Plasma.Finance is PlasmaPay’s DeFi dashboard which aggregate the most popular DeFi protocols from different blockchains and allows users to manage their DeFi portfolio in one simple interface.
About AllianceBlock
AllianceBlock is building the first globally compliant decentralized capital market. The AllianceBlock Protocol is a decentralized, blockchain-agnostic layer 2 that automates the process of converting any digital or crypto asset into a bankable product.
Incubated by three of Europe’s most prestigious incubators: Station F, L39, and Kickstart Innovation in Zurich, and led by a heavily experienced team of ex-JP Morgan, Barclays, BNP Paribas, Goldman Sachs investment bankers, and quants, AllianceBlock is on the path to disrupt the $100 trillion securities market with its state-of-the-art and globally compliant decentralized capital market.
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