Aave and Balancer have joined the Open DeFi alliance

Open DeFi Association has launched a Western division comprising eight leading decentralized finance organizations. Cointelegraph reports.

New participants in the alliance are Aave, Balancer, BlockScience, DyDx, Ocean Ventures, Outlier Ventures, Quantstamp and SuperRare. Together with them Open DeFi unites 16 organizations.

CEO Stani Kulechov of Aave praised the association’s commitment to the ideals of the DeFi sector. He noted that he was excited about collaborating on tools and infrastructure within Open DeFi.

The initiative to create the new association, aimed at uniting Eastern and Western DeFi markets, became blockchain startup Conflux Network. The project was supported by the Shanghai Committee for Science and Technology, and the first participants included the DeFi protocol dForce, venture capital firm Sequoia Capital and others.

In August, MakerDAO, Compound, Nest and dYdX joined the DeFi consortium under Huobi.

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