The Chicago DeFi Alliance (CDA) was officially launched, and TD Ameritrade, Compound, etc. joined


  • Volt Capital, Jump Trading, CMT Trading and DRW Trading launched the Chicago DeFi Alliance (CDA), which brings together Chicago trading companies and DeFi projects.
  • To guide liquidity, many DeFi startups seek to recruit trading companies and professional traders. However, they do not necessarily understand the needs and concerns of these trading companies for DeFi.
  • CDA hopes to bridge this gap and help DeFi startups find resources and develop products that can leverage the liquidity generated by these trading companies.

Chicago DeFi Alliance (CDA) officially launched, TD Ameritrade, dYdX and Compound joined

Source: Pixabay

A Chicago-based cryptocurrency trading platform group will gather together to establish a closer relationship with the Decentralized Finance (DeFi) project.

Volt Capital, Jump Trading, CMT Trading and DRW Trading launched the Chicago DeFi Alliance (CDA) today. The organization announced in a blog on Tuesday night that its purpose is to bring together Chicago-based trading companies and DeFi projects from around the world.

The first members of the alliance include some well-known companies such as TD Ameritrade, DV Trading, Arca, dYdX and Compound.

The alliance aims to help the DeFi project understand the Chicago trading ecosystem, which is a large financial center known for its derivatives market. Since the DeFi project hopes to introduce liquidity and professional traders, CDA provides DeFi with a platform to communicate with trading companies, liquidity providers and OTC platforms. Peter Johnson, Head of Fintech Investment at Jump Capital, said,

"I decided to join the CDA because I found that there is a huge knowledge gap between the DeFi startups and Jump Trading colleagues I talk to every day and other trading companies in the industry. I hope CDA can help solve this problem and help DeFi startups understand the true potential of working with trading companies and involve them in the DeFi ecosystem, thereby eliminating this gap. "

Each DeFi startup will be paired with a mentor and undergo a four to six week plan to understand the trading company's DeFi needs. According to Imran Khan, Volt Capital ’s general partner, the ultimate goal is to give these DeFi startups a clear idea of ​​what products they can produce and what resources they may need to attract companies from the trading space.

"What we want is that, at the end of four weeks, these startups better understand the types of products they are building, how to get liquidity, and whether additional resources such as talent are needed."

At the same time, CDA also provides a channel for trading companies to understand DeFi. Khan believes that although many trading companies are interested in DeFi, the lack of a thorough understanding of various agreements and concerns about asset security and other issues have left many people on the sidelines.

"The alliance also includes providing traditional trading companies with education about DeFi … So, more of this is mutually beneficial and win-win, we can help DeFi companies get liquidity and feedback, and from the traditional trade side, it can be better Understand the DeFi industry. This is an education and [helps] bring liquidity into DeFi. "