Burnt Finance Joins the DeFi Alliance
Burnt Finance proudly announces that they will be joining the DeFi Alliance, an organization that is committed to advancing the broader DeFi ecosystem, as 11th acceptance for Accelerator Cohort 5.
The DeFi Alliance operates one of the most respected accelerator programs in the DeFi industry and has supported countless projects that have become pillar players in the field. Synthetix, Injective Protocol, and 0x rank among their supported projects.
In addition to providing comprehensive support through their esteemed accelerator program, the DeFi Alliance runs several initiatives to push forward the best interests of the DeFi space. The imperatives of Burnt Finance closely align with the ethos of the DeFi Alliance. Burnt Finance is focused on creating a Solana-based decentralized protocol that taps into the vast possibilities that exist in the crossover between the worlds of non-fungible tokens (NFTs) and DeFi.
Burnt Finance is a protocol that allows users to issue and auction a broad variety of digital assets in versatile ways.
The crossover between NFTs and DeFi is one that has only been explored on a surface level. We are observing the earliest experiments of this crossover with NFTs being used as collateral to access credit. However, the potential for NFTs broadening the possibilities of DeFi expand far beyond this and Burnt Finance is helping materialize new and innovative DeFi-NFT uses. Protocols that facilitate versatile NFT usage will provide a channel for millions of users to immerse themselves into the world of DeFi.
NFTs are the first form of crypto that truly appeals to a mainstream audience. It allows users to access and gain true ownership of both tangible and abstract forms of value in an easily tradable and interactable digital format.
Allowing the mainstream to access NFTs in this seamless manner will allow this wave of users to begin to experiment with the broader possibilities of DeFi. For instance, with Burnt Finance, users will be able to fractionalize NFT assets and issue the pieces as shares to various owners, enabling partial ownership of NFT assets. This is becoming increasingly important as larger and larger NFT sales take place.
Burnt Finance users can also experiment with creating synthetic financial products that will allow them to speculate and hedge their financial activities in diverse ways while also benefiting from the underlying infrastructure being decentralized.
Both Burnt Finance and the DeFi Alliance are committed to not only advancing DeFi but ensuring that the ecosystem remains aligned with the decentralized ideologies that it was built upon.
About Defi Alliance
DeFi Alliance (DA) is the leading decentralized finance accelerator. They help startups source liquidity and support from a broad industry network. The accelerator program is 6 weeks long and is typically composed of 10–15 companies per batch. They have completed five batches of projects, bringing the number of companies accelerated to 50+. At the end of the program, companies present their projects to market makers, liquidity providers, service providers, alumni, the general public, and users at a virtual Demo Day.
About Burnt Finance
Burnt Finance is the first fully decentralized auction protocol on Solana. Burnt allows users to take auctions into their own hands, enabling the minting and trading of any asset in an entirely permissionless ecosystem. The platform can support auctions for synthetics, NFTs, digital assets, and much more. Given its unique Solana-based architecture, Burnt is able to achieve unparalleled transaction speeds with negligible fees.
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