As Huobi Global CEO Livio Weng himself said, both projects reflect his vision in this sector.
“We think blockchain technology has great potential not just for cryptocurrency but also in providing better overall financial services and products to the public. Both Compound and MakerDAO share our vision and we’re happy to add support for them.”
Compound allows for the creation of both cToken tokens and dApps that allow users to lend their cryptocurrencies in exchange for an interest. These dApps are quite difficult to use without being an expert in the field, however, with the support of Huobi, everything will be more accessible, as explained by the CEO of Compound, Robert Leshner:
“Decentralized, transparent applications are the future of finance, and will lead to a wealthier, more connected world. But so far, DApps have been difficult to access and use. Huobi Wallet is making decentralized finance more accessible – which has the potential to change society”.
This is certainly good news for the Huobi exchange, expanding its support for DeFi (decentralised finance applications).
Last month Huobi was also given the green light by the Government of Thailand to operate in the country and, among other things, the FTX platform, famous for its shitcoin index, has just launched futures and leverage trading with Huobi’s HT (Huobi Token) tokens.
Whereas MakerDAO, with its stablecoin DAI, has recently arrived on Pundi X’s wallet, XWallet, which is allowing it to expand even further within the stablecoin market. Meanwhile, other competitors such as Tether (USDT) are increasing their stablecoin-compatible blockchains.