The Hashgraph DeFi Alliance is Here!

Stader Hedera, Saucerswap Labs, and HeadStarter, the first 3 DeFi protocols natively built on Hedera reiterate their commitment to the…

The Hashgraph DeFi Alliance is Here!

Stader Hedera, Saucerswap Labs, and HeadStarter, the first 3 DeFi protocols natively built on Hedera reiterate their commitment to the Layer-1 DLT’s adoption through the formation of a symbiotic alliance; The Hedera DeFi Alliance (HDA). The combined efforts from the alliance members in critical areas will offer the necessary support to existing and future Hedera crypto projects as well as those considering to migrate to the ecosystem.

The overall aim is to provide a cohesive and holistic approach that will help guide and streamline the efforts of project developments on Hedera. The added value created by the HDA enables them to accelerate their growth and deliver faster to the community. Moreover, it helps Hedera progress to establish itself as a leading L1 DLT. In a bid to symbolize this commitment, the alliance among its first points of action will have its own website enabling the onboarding of new members, and coordinating workgroups while featuring existing and new members.

Already each founding member has made important contributions in building the foundational pieces for Hedera DeFi to flourish. Stader offers users the ability to stake their native Hedera token to yield the platform’s token which they can, in turn, allocate to other DeFi protocols for rewards through borrowing or liquidity providing. SaucerSwap is a DEX where liquidity pools are created by combining pairs of tokens coming from Stader for example and other projects from the ecosystem. HeadStarter as an IDO Launchpad & Accelerator of the Hedera Ecosystem serves as a web3 crowdfunding mechanism for projects whereby users can directly engage with their tokens. The alliance will further propel this vision in mapping an upward and onward trajectory for the whole ecosystem to collectively benefit from this endeavor.

The HDA’s ongoing focus on seeking and helping the best quality projects will never waver. While its combined expertise will unlock numerous avenues, its primary goal is to safeguard the trust the Hedera community has bestowed upon its core mission.

This pledge is articulated below as the HDA defined the overarching purpose of the alliance. All of them underpin the crucial areas each alliance member believes are required for the success of DeFi in Hedera

  1. Defining standards for the building of Hedera-based DeFi dApps and protocols.
  2. Develop and design tooling resources for development on Hedera.
  3. Releasing open source projects and resources to accelerate compounded innovation.
  4. Compiling research about DeFi on Hedera and formulating strategic SDK feature prioritization.
  5. Enable knowledge-sharing and competencies development of new entrants for a harmonized discourse for building on Hedera.
  6. Collaborate on joint media outreach efforts that highlight alliance achievements and projects.
  7. Nurture social media outreach for the alliance in spreading educational content for growing market penetration for Hedera projects into wider audiences and driving new users and developers to Hedera.
  8. Establish a calendar circuit for events for Hedera First hackathons, educational conferences and associated PR coverage, and other Alliance-driven activities.
  9. Work in collaboration to foster a long-lasting culture of inclusivity, fairness, and transparency.
  10. Explore interoperability with other decentralized networks.
  11. Structure a path towards enabling alliance growth and ensuring members' needs are met.

In order to be fully prepared to overcome any challenges, the 3 founding members as well as future entrants will work in cooperation to ensure the HDA continuously creates value for each project member and delivers more than the sum of its parts to the Hedera community in every way possible.