The FNX Token Finds a Home on Yet Another Interoperable Blockchain Ecosystem
As an up-and-coming interoperable decentralized finance protocol maker, FinNexus (FNX) began its life on the Wanchain blockchain way back before the pandemic. But it was never the intention that the portfolio of DeFi services powered by the FNX token would only live on one chain.
FinNexus serves cryptocurrency aficionados. Thus, our project is constantly seeking to find high-quality Layer-1 blockchains to partner with and bring its protocols and platforms to new ecosystems. Recently, FinNexus announced its plans to bring real world assets to the XRP Ledger and a version of its unique multi-asset single-pool (MASP) DeFi options model to Elrond. A similar MASP platform will go live on Ethereum before the end of September. There are few DeFi projects that are as focused on improving cross-chain DeFi functionality as FinNexus.
This obsession with cross-chain blockchain services makes it a natural fit that FinNexus partners with Kardiachain (KAI) to explore the potential to develop DeFi services on the Kardiachain mainnet. Of course, KAI has not launched its mainnet yet. When it is completed, Kardiachain will operate the first fully decentralized and interoperable blockchain ecosystem in Vietnam. They have an ambitious plan to onboard tens of millions of new crypto users from the fast moving Vietnamese economy. Even while mainnet is still in development, KAI has accomplished much to spread crypto adoption to the masses. They’ve successfully operated a football fan app to bring together the legions of rabid football fans in the country, where they even own their own professional team. They’ve also partnered with the largest taxi corporation in Vietnam, Mai Linh, to allow KAI tokens to be accepted as payment for rides. The next logical step is DeFi.
We are happy to explore integrating FinNexus’ DeFi solutions into our mainnet. Their vision of an open finance hub making connections among assets, users, blockchains and service providers very much aligns with our own philosophy about the future of blockchain. Onboarding Finnexus to the KardiaChain ecosystem allows us to continue to expand our DeFi offerings, which kicked off last week with the launch of our DEX. We are excited to help Finnexus expand their reach using our interoperable capabilities.
— Tri Pham, KardiaChain CEO
A platform built using the FinNexus Protocol for Options (FPO) on Kardiachain is one potential scenario that the teams intend to explore after the launch of KAI mainnet, expected in Q4 of this year. Another conceivable collaboration could also involve the tokenization of real-world assets on Kardiachain using FinNexus protocols. The combination of FinNexus’ emerging diverse protocol suite and Kardiachain’s robust Layer-1 connectivity solutions to other blockchains such as NEO and Tron provide a potent mix to bring DeFi services to the next wave of crypto adopters.
I’ve long admired the Kardiachain team not only for their innovative technology and impressive resumés but also for their relentless hustle and passion to bring the benefits of blockchain to everyone, not just whales. I look forward to integrating FinNexus DeFi services into the KAI mainnet and introducing the FNX brand to the wonderful country of Vietnam.
— Nicholas Krapels, FinNexus CSO
The FinNexus/Kardiachain collaboration will be a powerful addition to the rapidly growing Vietnamese on-chain digital economy.
KardiaChain is a public blockchain platform focused on interoperability and providing hybrid blockchain solutions/infrastructure for enterprises and governments in Vietnam and other countries in South & East Asia.
They are working with major services providers (enterprises and government) to decentralise their existing solutions. KardiaChain’s strategy is to reach millions of users without the immense cost of educating the market. Their Dual Node technology allows cross-chain communications between any public and/or private blockchain regardless of protocol. This framework provides easy-to-adopt solutions for institutional clients.
FinNexus is building a suite of open finance protocol clusters that will power hybrid marketplaces trading both decentralized and traditional financial products. The headline product to be released is a fully decentralized bitcoin (and other cryptocurrencies) options model that will live on both Wanchain and Ethereum.