Sileon, a multichain lending protocol that allows crypto users and investors to borrow and lend crypto assets across multiple blockchain networks, today announced a strategic partnership with InitVerse, an enterprise-grade Web3 infrastructure platform that simplifies decentralized application (DAPP) development and deployment. As part of the collaboration, Sileon integrated its crypto lending platform into InitVerse’s scalable Layer-1 infrastructure to enable greater growth, faster DeFi deployment, seamless access to capital, and an advanced user experience.
By functioning as a multichain lending platform, Sileon aims to simplify crypto lending and borrowing across numerous blockchains. Its decentralized lending protocol, which is based in California, serves users across the world, enabling people to borrow stablecoins (like USDT, USDC, and many others) by collateralizing different crypto tokens in a decentralized approach without involvement of centralized intermediaries.
What This Partnership Means for Sileon
The collaboration positions Sileon as an innovative crypto lending protocol that enables users to access financial opportunities. By taking advantage of InitVerse’s Web3 infrastructure development platform integrated with full-stack privacy computing capabilities, Sileon brings capital-efficient lending and borrowing to the DeFi economy.
InitVerse is a Web3 SaaS platform with expertise in facilitating decentralized application (DApp) development and deployment, with a key focus on true decentralization, scalability, and privacy. The ecosystem, which is built on INIChain, a Proof-of-Resource Layer-1 blockchain that integrates privacy-enhancing technologies such as TfhEVM (Fully Homomorphic Encrypted Ethereum Virtual Machine) and DDA (Dual Dynamic Adjustment) mechanism to enhance resource efficiency, user privacy, and transaction performance. By offering low-code tools and no-code smart contract modules, InitVerse lowers barriers hindering businesses and developers from developing decentralized applications in the Web3 space.
By combining its crypto lending network with InitVerse’s INIChain blockchain, which provides decentralized cloud computing, Sileon brings powerful computing power into its crypto trading platform. InitVerse’s decentralized computational infrastructure is a cost-efficient, scalable, reliable, and stable alternative to traditional cloud services. The integration of its decentralized computing power provides Sileon’s lending network with a secure and effective way to store data and run applications seamlessly. InitVerse’s decentralized architecture spreads resources across a global network. This translates into reduced risks of system failures and boosted data security on Sileon’s platform.
Furthermore, InitVerse’s privacy computing solutions ensure that data, assets, and applications on Sileon’s lending protocol remain secure and only accessible to people with permission.
Advancing DeFi Lending Effectiveness
Sileon’s mission has always been to expand accessibility of its crypto lending products to DeFi users and broaden its network’s access in Web3. Collaborating with InitVerse allows it to scale this mission on a blockchain that accelerates a shared vision for on-chain finance, DeFi-driven transactions, and real decentralized economic activity. Together, Sileon and InitVerse are not just developing efficient access to crypto lending and borrowing offerings; the two platforms are showcasing how the future of global digital finance can function efficiently.
Source: https://blockchainreporter.net/sileon-partners-with-initverse-to-enable-efficient-defi-lending-deployment-advance-user-friendly-experiences/
