OceanEx Partners with V SYSTEMS to Lead DeFi Development

Reading Time: 2 minutes

OceanEx, the crypto exchange based on the VeChain blockchain, has announced a partnership with V SYSTEMS to incubate a range of applications, including decentralized finance (DeFi), entertainment, social media, and more. The inaugural project the new team will work on has also been announced as Tachyon, a decentralized internet protocol co-launched by X-VPN, one of the world’s largest VPN services.

DeFi Meets Supernodes

The OceanEx and V SYSTEMS collaboration was announced at the Capital Warm-up Party in Singapore on Monday, with OceanEx stating through a Medium post that the move will aim to “explore joint development to cultivate a robust DeFi ecosystem”. The pair will aim to identify DeFi projects with “real-world use cases and high market demand” according to OceanEx, through which they can promote the “mass adoption of blockchain technology”. The collaboration will utilize V SYSTEMS’ desire to deliver decentralized cloud technology, including their “new innovate consensus algorithm” Supernode Proof of stake (SPoS), to support a range of decentralized applications, from finance to dApp deployment, using OceanEx’s platform as a base for token promotion and possible IEOs.

Tachyon Aims to Succeed Where Substratum Failed

Tachyon was also announced as the first project the pair will work on together. Calling itself the “next generation TCP/IP”, Tachyon is a decentralized internet protocol based on the V SYSTEMS platform that has ambitions of providing high data transfer efficiency for a “more reliable, stable and anonymous Internet connection.” The project is the work of V SYSTEMS and X-VPN, one of the world’s largest VPN service providers with 50 million global users. It is envisaged that V SYSTEMS will continue to work on the development side of the project while OceanEx works on boosting the popularity of the IPX token associated with the project. Tachyon is not the first project to undertake work in the area of decentralized internet protocols, with Substratum being a well-known competitor in the space, although their recent troubles leave a gap in the market that Tachyon will be hoping to fill.