Emurgo, Cardano’s most important trading arm, has launched “Astarter” – a joint venture with Blockchain4A (technology company in China) to facilitate the collaboration between the two companies in building the infrastructure of Decentralized Financial Services (DeFi) on Cardano
The joint venture combines the engineering of Emurgo and the expertise of Cardano as one of the founders with the experience of Blockchain4A in the development of the technical DeFi infrastructure.
Cardanos Alonzo Hard Fork has successfully integrated the smart contract functionality into Cardano’s blockchain and now offers developers the ability to use a wide range of decentralized applications (dApps) including DeFi. , NFTs, etc. for Cardano ADA users.
Astarter will begin developing IDO Launchpad later this year, along with a decentralized exchange (DEX) on Cardano
DeFi on Cardano
Upon completion, Astarter will also plan to integrate credit and credit functions (decentralized money market) on Cardano. These services are aimed at making Cardano ADA users more convenient and opening up financial services to more people in underserved areas.
“DeFi has grown in importance very quickly over the past year as it can make financial services more accessible to many people who are underserved by the current financial system. A wide range of services promote financial inclusion and social cohesion, especially in areas where traditional financial services are lacking, ”said Ken Kodama, CEO of Emurgo.
He added, “Decentralized finance has attracted the crypto community by improving the transparency, security and reliability of the processing of financial transactions. The value of crypto assets managed in DeFi apps has increased dramatically. ”
According to a joint report by the World Economic Forum and the Wharton Blockchain and Digital Asset Project, the value of digital assets locked in DeFi smart contracts is 670 million by 2020, signaling a massive wave of user interest.
The report also states that “DeFi is a stand-alone and potentially significant development, both in the blockchain and in financial services in general.” There is currently a Total Locked Value (TVL) in DeFi applications of approximately US $ 150 billion. Dollars … and Cardano is snatching market share in this pie.
The source: Crypto slate