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Bitrue, OKEx to offer both DeFi and CeFi options

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Two exchanges will offer both decentralized and centralized financial options.

Both Bitrue and OKEx separately announced plans to provide hybrid services that cater both to the DeFi market and more mainstream centralized finance products.

OKEx CEO Jay Hao tweeted on August 30 that the exchange launched its hybrid lending aggregator. The DeFi and CeFi aggregator integrates Compound (COMP). Hao said OKEx is “here to redefine crypto lending experience.”

The OKEx DeFi Lending Marketplace gathers major DeFi lending products and allows users to check and compare all DeFi and CeFi lending rates. The exchange will also come out with a One-Stop DeFi Trading Shop promising a one-stop DeFi experience and eliminates the need to transfer funds between wallets.

Bitrue, on the other hand, plans to launch its own hybrid service in the first quarter of 2021, the exchange said in a statement.  Its DeFi offering will be backed by a new token called the Bitrue Finance Token or BFT. Bitrue said it will start out by enabling lenders to add coins to the liquidity pool with the lenders receiving interest. BFT will be listed in mid-September.

“By providing both CeFi and DeFi products at the same time, we will be able to satisfy the needs of different types of users. Regardless of your preferred time horizon, the yield you want to receive, how long you’re prepared to lock up your coins for, and how much you want to invest, there will be an opportunity for you to invest in a way that you’re most comfortable with.”

Bitrue added it would be “implementing upgrades to their existing loan service, starting with a move to make publicly viewable the wallets that contain collateralized funds.”

Interest in DeFi remains high, especially as DeFi reached a milestone recently, hitting $9 billion in locked-in value. OKEx also listed eight new DeFi tokens and said it’s been encouraging to see many excellent DeFi projects coming up.





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Enjin joins Crypto Climate Accord, goes carbon negative

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Enjin, a blockchain gaming and nonfungible token platform, has stepped up to decarbonize its footprint by joining the Crypto Climate Accord, a move that adds further credibility to the industry’s growing environmental mandate. 

The Crypto Climate Accord is backed by 20 firms from the blockchain, fin-tech and greentech industries. Inspired by the 195-signatory Paris Climate Agreement, the Accord was established in April to address the “large and growing energy consumption of cryptocurrency and blockchain, and the climate impact of their energy use.”

Enjin claims that its JumpNet blockchain has already achieved carbon-negative status nine years ahead of schedule. In March, the company said it planned to enable carbon-neutral NFTs by 2030.

“The creation of new forms of technology should never come at the cost of destroying our environment,” said Enjin CEO Maxim Blagov. “Carbon neutrality for JumpNet is an important step toward our vision of a sustainable NFT ecosystem for Enjin and our partners.”

In addition to decarbonizing newly created tokens, Enjin’s environmental sustainability plan includes supporting the tokenization of the physical economy and decarbonizing existing digital assets. Other measures include upgrading to carbon-neutral nodes and incentivizing carbon reduction technologies.

Environmental concerns have virtually hijacked Bitcoin’s narrative this year, with the likes of Elon Musk casting shade over carbon-intensive mining. The Tesla CEO briefly embraced Bitcoin earlier this year before deciding that BTC payments are no longer acceptable due to environmental risks. Now, he states that his firm is willing to accept payments of the virtual currency, provided there’s more evidence for sustainable mining.

Related: Elon Musk lays out when Tesla will begin accepting Bitcoin payments

Other environmental sustainability efforts within crypto are also underway. As Cointelegraph reported, Tyler and Cameron Winklevoss’ Gemini exchange has purchased carbon credits to reduce Bitcoin’s carbon footprint. Separately, U.S. miner Stronghold Digital Miner recently announced that it raised $105 million to divert waste coal to cryptocurrency mining.