iob Prodefy is a unifying multi-financial protocols communication platform connecting FIX (Financial Information eXchange) protocol, Pillar, and other protocols to Web3-enabled decentralized finance (DeFi) and cryptocurrency trading.
For the high-performance trading systems, Prodefy is akin to Bloomberg Markets of DeFi.
Who needs Prodefy?
The institutional hedge fund traders and Wall Street firms.
One of the obstacles that have prevented the large hedge funds from the crypto investing and trading is that the crypto trading infrastructure is incompatible with their existing trading systems.
Why can Wall Street firms not build their own DeFi solutions?
They certainly can. However, there are reasons, besides the current government regulations and their internal compliance restrictions, why the institutional traders and investors are largely absent from the DeFi revolution.
The emergence of decentralized exchanges (DEXes) has fundamentally changed how trading takes place. Gone are the centralized order books, specialists, and market makers who all have the inherited advantages over small traders. Most Wall Street firms count their existence on those advantages.
Moreover, DeFi has some pros and cons for professional traders. While zero slippage is an attractive feature, but on-chain transactions renders some of the main benefits of HFT impossible.
Who else can also benefit from Prodefy?
The cryptocurrency exchanges, both centralized and decentralized exchanges.
Currently, they are only built for retail traders, crypto enthusiasts who are willing to experiment with the new financial revolution with limited and unreliable trading infrastructure.
Cryptocurrencies and DeFi will become a true force of change once the institutional establishments are on board. Through Prodefy, institutional investors are able to tap into the DeFi platforms. The exchanges can benefit from the new trading money that is maybe hundreds of times their current trading volume.
What other major functionalities are being planned for Prodefy?
Unified asset and investment management.
A single place to manage your asset and investment both in traditional and decentralized markets, as well as your funds' banking needs.
What are the major applications Prodefy can be used in the near future?
Prodefy can be used by institutional traders for creating new derivatives trading pairs of any assets, synthetic indices, and offering new index trading and actively managed trading products to their clients.
What are the possible extensions for Prodefy?
When our own and institutional clients' needs have exceeded the functionalities provided by the prevailing DEXs, we will work with them to deploying a more robust trading venue.