CryptoLocally Partners With MakerDAO to Increase the Accessibility of DeFi Around the World
At CryptoLocally, we are pleased to announce our partnership with MakerDAO, the protocol behind DAI, a decentralized stablecoin which can be used by anyone, anywhere in the world. The partnership will be focused on collaborating to build more local peer-to-peer communities around the world, especially in developing countries.
It is our belief that DeFi can be the solution to providing financial services to people all over the world who don’t currently have access to them, but first these technologies have to reach them to gain mass adoption.
MakerDAO has already connected us with local representatives and ambassadors in Ghana and South America, as well as people in other strategic locations, who will help to establish communities there. By setting up communities all over the world, we are educating more people on blockchain and DeFi technologies to finally make financial inclusion a reality for millions of people.
By developing these peer-to-peer communities around the world with MakerDAO, we will be actively working towards our shared goal of making cryptocurrency and decentralized financial services accessible to everyone, especially for emerging economies which could benefit the most from them.
What is CryptoLocally?
CryptoLocally is a non-custodial P2P cryptocurrency trading platform with a smart contract escrow that provides additional security to users. Our smart contract escrow eliminates third party involvement in trades, providing a true decentralized trading experience. For each trade completed on the platform, users earn GIV, Our native token.
We recently added a DeFi feature, the Finance Wallet, to our platform, allowing users to earn staking rewards on ETH, DAI, USDC, USDT, UNI, and GIV.
As the first P2P exchange to integrate a DeFi feature, we are leading efforts to create a decentralized financial future that is inclusive and easily accessible to anyone. The partnership with MakerDAO is designed to further those efforts.
What is MakerDAO?
MakerDAO is the developer of the DAI stablecoin. The Maker Protocol, also known as the Multi-Collateral DAI (MCD) system, allows users to generate DAI by leveraging collateral assets approved by Maker Governance. Maker Governance is the community organized and operated process of managing various aspects of the Maker Protocol. People around the world who hold MakerDAO’s governance token, MKR, are the ones who manage the project.
The stablecoin DAI is a decentralized, unbiased, collateral-backed cryptocurrency that is soft-pegged to the U.S. dollar. The benefit of DAI is that it is resistant to hyperinflation due to its low volatility, thus it can provide economic freedom and opportunity to anyone, anywhere in the world. Maker DAO is an open source project on the Ethereum blockchain.
The Maker Protocol enables users to create currency, and the Protocol includes the DAI stablecoin, Maker Collateral Vaults, Oracles, and Voting. The Maker Protocol is one of the largest dapps on the Ethereum blockchain and was the first DeFi application to earn significant adoption.