DeFi Ban Begins — Uniswap.io bans 10 countries from DeFi Protocol, demonstrating the need for principled DeFi companies
Last week, Uniswap.io, an Ethereum-Based decentralized financial (DeFi) protocol designed to facilitate digital asset exchange between ETH and ERC20 tokens, banned users from 10 different countries. The front-end of their website is no longer available to users and citizens from countries that suffer from significant political censorship and limited financial access or prospects for social mobility.
As governments across the world begin to move in to clamp down on DeFi, many projects have indicated that they have no option but to fall in line, which poses an existential threat to the DeFi community.
After widespread criticism by the DeFi community, it points towards why we need principled DeFi companies willing to defend DeFi principles; especially as DeFi poses a significant threat to traditional finance and removes power away from financial elites and governments.
Plutus DeFi was set up by a group of leading developers and experts in the blockchain industry, as well as it’s founder, a grassroots political campaigner with a long track record of campaigning against austerity, political censorship, and financially-exclusivist policies.
This fusion between campaigners and activists and the blockchain space has led to the beginning of PlutusDeFi.com in the hope of creating a defense in the form of DeFi technologies.
The plan is to enable access to DeFi through multiple privacy layers both on-and off-chain, including the integration of several privacy protocols, IPFS, and ENS access for full decentralization and off-chain privacy technologies such as Tor and OpenVPN.
Our focus remains “on user privacy, anonymity and maintaining sovereignty over your wealth. Plutus makes it easy to enter the world of decentralized finance.”
The new project was recently backed by several VC’s such as Neo Global Capital and Obsidian Capital with 500k USD of funding and is currently raising more funding.
Want some privacy in your DeFi solution? Sign up for Early Access to beta test our anonymous lending application. 😀
