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Chainlink, SushiSwap execs join non-profit GoodFi to bring ‘DeFi to 100 million people’

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Over 22 developers and executives from decentralized finance (DeFi) heavy-hitters Chainlink, Aave, Sushiswap, and several other crypto projects have joined GoodFi, a not-for-profit organization created by decentralized ledger network Radix.

The non-profit hopes to onboard 100 million people into the DeFi space by 2025, it shared in a release with CryptoSlate.

Enhancing DeFi

As per the release, the board of advisors will enable initiatives that lower the barriers for newcomers into crypto and increase their understanding and access to DeFi apps. “Open, distributed systems allow for great speed and innovation. It’s no accident that there are so many projects with talented teams paving the way forward,” said Jay Kurahashi-Sofue, member of the GoodFi advisory board, and Vice President of Marketing at Ava Labs.

He added, “What’s missing are unbiased groups that seek to create shared value for all builders and users. The decision to join GoodFi on behalf of Avalanche was a no-brainer.”

Alongside the new advisory board, the first version of GoodFi’s user-focused site has gone live, providing the introductory material for someone looking to understand and get involved with DeFi.

This initial launch is focused on explaining to a first-time user the value proposition of decentralized finance, where the yield comes from, and the various levels of risk/reward that exist. From there, users are guided through getting their first wallet and assets based on their preferred platform and how much they are looking to invest.

The introductory resources that have gone live today are only the first iteration of GoodFi’s efforts to provide DeFi education. The advisory board members are all working on producing educational content for GoodFi and work is already underway on new features such as a “matchmaker” feature of the website that helps users find beginner-friendly DeFi dApps, opportunities, and asset classes.

The focus of this tool, due to be released next month, is to provide an unbiased view of different DeFi options and associated risks as well as give real-time data about yields across a range of proven platforms.

“We are happy to be part of GoodFi to collaborate with other ecosystem players and help new people navigate the world of DeFi. As the ecosystem develops, good educational resources become more important than ever for making it accessible to a wider audience,” said Isa Kivlighan, Head of Marketing at Aave.

Three investing methods

All of the DeFi opportunities GoodFi are proposing to adhere to three overarching approaches to DeFi investing for new users based on their financial experience and individual risk tolerance.

The first is a ‘safe and stable’ method for lending out stablecoins for annual returns of 5% – 15%. Next is a ‘moderate’ method for those willing to take on calculated risks for higher annual returns (10% – 20%).

Finally, for the adventurous, there’s an ‘aggressive’ approach that can yield returns of 30% or higher and requires increased exposure to volatile assets. “This will include opportunities such as lending out WBTC/ETH or adding to volatile/volatile pairs on automated market makers,” the project noted.

The DeFi market has grown to a $120 billion market in the past year, bouyed by innovative dApps and products like decentralized lending, self-paying loans, and several others. Education, however, has remained limited, but GoodFi looks to change just that.

The post Chainlink, SushiSwap execs join non-profit GoodFi to bring ‘DeFi to 100 million people’ appeared first on CryptoSlate.



Source: Chainlink, SushiSwap execs join non-profit GoodFi to bring ‘DeFi to 100 million people’

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