There are many projects currently building on Ethereum with the aim of building a new financial system. Unlike the one we have today, their aim is to make this industry decentralized, more transparent and more inclusive. Some key examples of these projects can be seen in those comprising the #DeFi community.

We believe these projects are not currently living to their full potential as they are being restricted to the assets that are solely available on the Ethereum blockchain.

The financial ecosystem that is being created on Ethereum is cut off from the rest of the crypto industry and cannot access the hundreds of billions of dollars’ worth of digital assets on BTC, XRP, BCH, LTC, EOS, and others.

DEXs: When you are using a DEX on Ethereum, you are only able to trade ETH and ERC20s.

Loans: When Maker backs the value of its DAI stable coin, the backing assets can only be native to Ethereum. When a loan is issued on a relayer built using Dharma, the underlying assets can only be Ethereum assets.

We could go on and on. Every financial application currently is being restricted by the number of assets they can use.

These projects currently have 3 solutions:

Accept the restrictions that the technology imposes and stay fully decentralized, but remain limited in the number of assets their smart contract can leverage. Use centralized solutions such as WBTC which will be available on Ethereum by January 2019.

In both cases there is a trade-off, between centralization or the number of available assets they can utilize.

3. A third solution will be available by the end of December: Integration with Wanchain in order to leverage a unique cross-chain system which is driving to be fully decentralized by next year.