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Mode, a layer 2 network on Ethereum, has begun the latest partnership endeavor. According to the platform, it is joining Atlendis Labs (a DeFi credit forum dealing with real-world businesses) to increase the decentralized finance ecosystem thereof. The company added that the collaboration is a significant move for it.
Thrilled to collaborate with the Atlendis team as we broaden Mode's DeFi ecosystem, incorporating off-chain asset-backed deals.
— Mode 🟡 (@modenetwork) April 25, 2024
Read all about it 👇 https://t.co/VoadAZQyJQ
Mode Network and Atlendis Labs Collaborate to Spread DeFi Ecosystem
On its official X account, the firm disclosed the efforts that it is carrying out in collaboration with the team of Atlendis. The respective development will permit the company to widen its operations dealing with DeFi with the support of Atlendis Labs. As a part of the collaboration, the platform will witness the incorporation of asset-backed off-chain deals. Mode has occupied the position of a “Superchain” that operates alongside Optimism.
Mode, dissimilar to the monolithic blockchains, utilizes a modular architecture. In this way, the platform separates the chief functionalities such as execution and consensus into diverse layers. As a result of this, Mode enjoys increased compsability, flexibility, and scalability. The platform benefits the developers with the provision of access to an expanding DeFi ecosystem containing a big user base.
The Partnership Incorporates Asset-Backed Off-Chain Deals
It also facilitates the users with lower transfer fees in comparison with layer 1 networks. Additionally, it lets them access cutting-edge DeFi features and applications. Moreover, it provides a streamlined DeFi experience apart from offering consumer-friendly instruments such as Metabase Portfolio. Atlendis Labs offers off- and on-ramp service when it comes to exchange between crypto and fiat currencies.
It reportedly offers significant flexibility and transparency, letting users customize their investment strategies. On its X account, the company asserted its commitment to providing convenience to the users. It focuses on enabling them to access the optimum curated off-chain deals that are supported by assets directly on-chain. This collaboration is one of the endeavors that allow the firm to fulfill its objective.