Evrynet has announced that it will join the Stanford Future of Digital Currency Initiative (FDCI) as an Evrynet member, joining other members such as IBM, Ripple, Celo, and others to help develop the global cryptocurrency API. Finance becomes a hybrid decentralized exchange
The Stanford Future of Digital Currency Program welcomes Evrynet as its latest member. Its purpose is to collaborate with Stanford’s FDCI and integrate SPEEDEX technology into the ecosystem in 2022.. Through SPEEDEX, Evry.Finance as well as Evryhub, a cross-chain bridge, will improve overall transaction speed and achieve volume. Up to 100,000 jobs per second theoretically
By joining Stanford’s FDCI, Evrynet will join other members of the Algorand Foundation, Celo, Polkadot, Ripple, IBM and the Stellar Development Foundation.
Evrynet has also appointed Muharem Hrnjadovic as its Chief Technology Officer (CTO). Muharem previously served as CTO for Monetas (a Swiss blockchain wallet developer) and Sygnum AG (the world’s first digital asset bank. ), and he is also a former senior software engineer at Kraken Digital Exchange.
Together with Technical Leader Sam Wong and Geoff Ramsayer, Evrynet Advisory Board Member will enter the next phase of development. Sam and Geoff also worked closely with Professor David Mazieres to develop the SPEEDEX technology.
Professor David Mazières added: “The future of the Stanford Future of Digital Currency Initiative (FDCI) is doing to ensure that the cryptocurrency API is open to innovation and can benefit as many people as possible. A key part of this is ensuring equal participation in the global economy for all, regardless of local currency.
SPEEDEX takes a step in this direction by providing fast, fair and economical asset exchange services at layer-1 in a decentralized blockchain We are delighted that Evrynet has adopted this technology and will use it in production settings.”
Evrynet continues to attract attention in the blockchain space and the traditional financial world. The project has worked with renowned MIT professor Robert Townsend to expand its reach in the financial world. Evrynet also brings the necessary infrastructure to developers and businesses looking to build centralized and distributed finance applications. Empowered (CeDeFi) through a suite of smart financial services, Evrynet intends to integrate with many blockchain ecosystems. and enabling innovation in a wide range of financial products, services, and use cases.
Geoff Ramseyer commented: “If cryptocurrencies will benefit as many people as possible, They must be built on high-performance infrastructure. And in particular, there must be a high throughput distributed exchange. where users can freely exchange one currency for another
The traditional approach to blockchain scaling is Layer-2 networks, but on the other hand, SPEEDEX shows that it is possible to build a scalable DEX. And in doing so, SPEEDEX eliminates internal arbitrage, is risk-free, and treats users fairly regardless of access to funds and computing resources. We are thrilled to see Evrynet use technology based on SPEEDEX.”
Earlier this year, Evrynet raised $7 million in private funding. It was quickly followed by an additional $8 million ahead of the $EVRY token listing on October 20 this year. These funds will help the team continue to improve the Evrynet ecosystem. As well as further feature development of DeFi applications for institutional investors, the Evry.Finance application will act as a hybrid-DEX supporting AMM/DMM with an offchain order book , automatic routing , and offering synthetic assets
About Evrynet
Evry.Finance is the first DApp developed by Evrynet aiming to provide institutional investor friendly features. To enable them to participate in DeFi as well as to provide a wider range of products through linking real-world assets to DeFi.
Retail investors will also be able to enjoy the simple user interface at Evrynet, as well as further innovations in financial products and services in the ecosystem.