DeFinity Journey Recap
Since its inception in 2021 DeFinity has been following declared statements and accomplished promised milestones. The start of the project was enabled by a partnership between DMALINK, a leading independent electronic trading venue for Emerging Markets FX & Precious Metals, and WeOwn, a layer 1 and layer 2 technology company with a focus on financial assets and digital blockchain services. Working hard alongside led us to the present accomplishments and first market results. It is an exciting journey for our team and community to move forward with traditional and digital asset trading and make it more accessible to the community and individual investors.
Over the last year, a significant number of users, including institutions, have joined the Definity platform to build, create, and trade stable coins, crypto currencies and central bank digital currencies. To all of you, welcome! We are incredibly happy to have you. At DeFinity, we remain committed to our vision of a fully decentralized protocol that enables trading both for traditional and digital assets.
We reached over 2,583 token holders and 88 users staking at Ethereum Blockchain. 2021 has been fast-paced for DeFinity so far, therefore we would like to exploit the chance to look back on achievements and update you on our 2022 goals by stating some of the ongoing projects.
We continue working on developing our network to build innovative solutions and respond quickly to market fluctuations with robust infrastructure to enable asset trading institutions. 2022 is planned to be our next big milestone, have a look to learn more about our plans for this year!
What has been planned
At the start, we set the scope of goals we want to accomplish. Selected points were carefully planned to enable our platform to provide unique value in the FX and digital asset space. This plan was created by a number of experts, which our founding team consists of. In the beginning we planned:
- DeFi marketplace for FX and Digital FX
- Exchange FX assets into tokenised form
- Connection into WeOwn blockchain and several connected public blockchains (cross-chain enabled)
- Preparation for institutional CBDC FX trading
- Trading and match-making user interface for institutional traders
- Intuitive mobile app for retail traders
- FIX adapter integration
Announced plans were realized partly, those, which are in the progress have been updated and deployed according to the existing market state.
What has been achieved
In 2021 we dedicated all our efforts to building the solution and integrating it into existing platforms.
The first web version of the Clarity app with staking and farming functions has been launched this app is carefully designed for retail needs and aligned with the requirements of DeFinity crypto community.
We created a unique risk management solution “Anomaly detector”. The AI powered Crypto Anomaly detector analyzes over 124 context vectors and detects the probability of large volatility events in the target vector before they happen ~73.3% of the time.
What has been adapted according to regulators
The digital asset space is the most fast-paced as well as rapid-changing area. Being a young field attracts a lot of attention from the market, also from the regulator’s perspective. Knowing that we keep being agile to adapt continuously changing requirements from legislators and because of that we had to conduct:
- Creation of a digital ECN for FX and Digital Asset trading between institutional counterparties
- Anomaly detection and AI features as an add-on service
- Market-making services
Which partnerships did we set
DeFinity has been growing its partner network massively aiming growth and flourish the platform. Our partnerships cover a wide spectrum from financial institutions, like institutional platforms and custody providers in Europe, custodian banks and trading partners in the US, as well as tech custody providers in the UK. We also launched a partnership with Cobalt, an FX infrastructure provider, and Alpha Impact, a copy-trading social media platform.
What is planned to achieve in 2022
“A journey of a thousand miles begins with a single step” is a common saying that originated from a Chinese proverb. We understand and feel market obstacles and challenges. While keeping long-term goals in perspective, we do carefully our little steps. For the next year, our roadmap is designed to align with the trends, resources, and opening opportunities. Our team will dedicate its attention to developing product interfaces, improving user functionality, accelerating custody and wallet, and expanding partner networks.
Summing up, DeFinity team would like to note, that we dedicate all our resources and efforts to delivering next-day asset trade solutions. We listen carefully to feedback from the crypto community, investors, and clients and improve your experience with our products.
Any feedback or ideas are greatly appreciated, so please drop me a note via e-mail manu.choudhary@definity.network
Stay up to date with DeFinity:
· Telegram Official Community — https://t.me/DeFinity_Community
· Telegram Announcements — https://t.me/DeFinity_ANN
· Medium — https://medium.com/definity-network
· LinkedIn — https://www.linkedin.com/company/definitynetwork
· Twitter — https://twitter.com/definitynetwork
