IOI
EMURGO, the official commercial arm of Cardano, has announced the creation of Astarter – a joint venture with China-based technology firm BlockChain4A – to develop a decentralized financial infrastructure (DeFi) for cardano.
EMURGO, one of Cardano’s founding entities, and Blockchain4A combine their technical expertise and experience in developing DeFi’s technical infrastructure.
With the hard fork Alonzo, Cardano now provides developers with the ability to build a variety of decentralized applications (dApps) for Cardano ADA users including DeFi, NFTs, and many others.
Starting in mid-October, Astarter will release an IDO (initial decentralized exchange offering) launchpad, along with a decentralized exchange (DEX) built on Cardano. Additionally, Astarter plans to integrate a decentralized money market feature (lending and borrowing) into Cardano once it is completed. Cardano ADA users will benefit from these services and more people in underserved regions will be able to access financial services.
“DeFi has been gaining traction very rapidly over the past year as it can provide more accessible financial services to many people that have been underserved by the current financial system. A wider range of services promotes financial inclusion and social cohesion, especially in areas lacking in traditional financial services. Astarter is a step towards leveraging Cardano’s research-driven blockchain as a platform to build important decentralized financial infrastructure that can be used by anyone,” said EMURGO CEO Ken Kodama.
“Decentralized finance has appealed to the crypto community through its improved transparency, security, and credibility of processing financial transactions. The value of crypto assets under management in DeFi apps have risen sharply. In this case, we have created Astarter to serve as the DeFi hub on Cardano to contribute more possibilities to the Cardano ecosystem by providing fair, safe, and open financial services on Cardano. This will help accelerate DeFi apps to further empower the Cardano ecosystem,” said Astarter CEO Chris Tang.
From 2019 to 2020, the worldwide value of digital assets locked in DeFi smart contracts grew from $670 million to $13 billion, and user wallets grew from 100,000 to 1.2 million, indicating an explosion of interest from users. According to the report, “DeFi is a unique and potentially significant development both within the blockchain world and within the field of financial services in general.” At present, DeFi applications have approximately $100 billion in total locked value (TVL).
About EMURGO
It provides organizations with socially impactful solutions to some of the most complicated problems they face. EMURGO is Cardano’s official commercial arm. EMURGO was a founding entity of the Cardano protocol, so it is able to leverage its deep blockchain expertise and rapid solutions deployment for the benefit of clients around the world.
EMURGOS offices are located in Singapore, India, and Indonesia, and it has a client list around the world. To connect and learn more, visit https://emurgo.io.
BlockChain 4A – What you need to know
Incubation services are provided for different projects by BlockChain4A, which is a leader in 4A blockchain brand evangelism. More than 30 projects have been launched on different centralized exchange platforms with our help.
Additionally, Blockchain4A offers expertise in promoting token economic models, developing blockchain technologies, building brands, community building, media promotion, token listing, market valuation management, and developing DApps. Please visit https://blockchain4a.com/en/ for more information.
