DeFi threats are real. As the fear of DeFi hacks and exploits continues to grow, investors and developers alike are finding ways of being wary of protecting their assets and projects. Algorand has tapped just the right partners to make that happen while moving assets cross-chain.
Messina.One’s partnership with Algorand will make it easy for developers to bridge their digital assets safely to and fro Algorand and Ethereum. Making it available to Algorand’s ecosystem. In addition, this bridge will enable developers to create compatible applications with Messina’s bridge, which will help the bridge leverage the power of Algorand’s smart contracts.
Daniel Oon, the head of DeFi at Algorand Foundation, said, “The Messina Bridge is pivotal for Algorand. Users will be able to bridge into Algorand from Ethereum via a noncustodial manner, marking a new era of opportunities for users on both chains. We are committed to the interconnectedness of blockchains and a hearty congratulations to Messina on leading this charge.” Daniel also mentions Messina’s approach is different from the conventional approach used by other blockchains. Built from the ground up, Messina’s approach will ensure that the network is secured and transparent.
Oon started his work with Algorand in 2022, after he left Tezos. His work for the blockchain has been nothing short of spectacular and has facilitated the building of Algorand’s ecosystem. His work and effort on the Algorand Foundation have been exemplary. His dedication led to the growth of Algorand from 30 million USD in 2018 to 100 million USD.
His advice for the newcomers in the blockchain community is to recognize the ebb and flow of the industry. He notes that it is easier to adapt when the flow is on and go full speed during that time, but the market will cool off, so be ready. This industry moves fast, and sometimes you need to keep up with the flow, and other times it’s essential to slow down. This industry is something newcomers should try to know about before jumping in.
Daniel Oon is truly an inspiration to many people with his work in Decentralized Finance. He has been able to manage large-scale project portfolios at the ecosystem level. He is also an advocate, helping applications and businesses succeed in building their businesses on the blockchain.
Oon believes one of the most significant challenges today is understanding the value of money. He believes that life is cyclical as in the past, and we are now heading into a phase where what used to be a privilege will eventually become a burden. Therefore, he wants to educate people about the value of currencies today and how to use them to minimize the burden. “The value of Fiat Currency is subject to the behavior of those who hold it; therefore, an economy can only be understood by those who actively participate via behavioral economics,” says Oon.