In its latest bid to widen the scope of its ecosystem, Polkadot has reportedly established a new DeFi Alliance, together with a new support program for validators.

Specifically, Polkadot has joined other Ether-powered entities, regarding rolling out a decentralized finance alliance.

The alliance reportedly has a primary goal of fixing the potential issues the decentralized nature of the Polkadot ecosystem can have, making a platform available for its community, regarding debating the utilization of the Polkadot Network and its underlying Substrate technology stack for DeFi.

Oracle network Chainlink is reportedly one of the founding entities of the alliance. 

“Chainlink is excited to help steer the direction of Polkadot’s growing ecosystem of decentralized financial applications. By promoting developer best practices for DeFi protocols, the Polkadot ecosystem can become stronger than ever.” The firm’s international head of business development, Dan Kochis, reportedly remarked. 

The remaining founding establishments reportedly include layer-two technology provider Plasm Network, decentralized insurance market Tidal Finance, and non-custodial automated market maker Polkaswap. 

The alliance is at the moment open for receiving application submission from developers, designing on Polkadot Network or Substrate.

Polkadot has reportedly also disclosed details regarding its initiative to release a “thousand validators” program in December 2020. providing assistance and incentives to any person attempting to operate a Polkadot node, all in the efforts in ramping up the number of its validators by 1,000.