More DeFi Products Will Be Developed in the Chia Ecosystem in the Future, Bram Cohen Says
Founder and developer Bittorrent cryptocurrency Chia Coin Bram Cohen said on Twitter about the plans to launch a decentralized exchange and automated market maker. More DeFi products will be developed in the Chia ecosystem in the future, Cohen said.
A whole lot of defi on Chia stuff forthcoming, including decentralized exchange and AMMs
— Bram Cohen (@bramcohen) July 11, 2021
In late May, Chia Network President and COO Gene Hoffman announced an initial public offering (IPO) before the end of this year. It is also possible to merge with another private company specifically for public listing (SPAC), Hoffman said.
Chia runs on a Proof-of-Space-and-Time algorithm and uses disk space as a transaction validator. Users who provide their own disk space to support the network are rewarded for this.
Since mid-May, the value of Chia Coin has dropped by 83%. On May 15, the token reached an all-time high at around $ 1.64 thousand. On July 12, the digital coin is trading at $ 256. According to CoinGecko, the token capitalization is $ 287 million.
