DeFi is moving from the stage of the experimental project to real-time. There are already several DeFi programs making investment a great success for its investors.
Beniamin Mincu, Elrond Network CEO, stated, “The Elrond infrastructure is essential for high bandwidth and inexpensive DeFi ecosystem. Cross-platform growth will enable projects to engage in a positive-sum game and share the upside of adoption outside of the current crypto boundaries. Happy to work with Dfyn on expanding the reach for projects building on our mainnet.”
Elrond assets will now be available in the Dfyn multi-chain AMM DEX that will be connecting multiple Layer 1 and 2 platforms to address liquidity fragmentation.
For clarity, Dfyn is a multi-chain AMM DEX currently functional on the Polygon network.
Dfyn is coming up with a decentralized exchange that will connect multiple blockchains to permit interoperability between their assets and liquidity pools from different blockchains. Using meta-transactions on the Polygon network, the process will be made gasless.
This collaboration will focus on adapting the Router Protocol that has been developed by the Dfyn team in a way to work with the mainnet. Thus, Elrond assets will be made available in the Dfyn DEX to plug into its multi-chain liquidity super mesh.
Ramani Ramachandran, CEO of Dfyn Network, expressed, The Elrond Web Assembly VM is an excellent example of how the building blocks for a scalable and cost-efficient DeFi landscape should look like. Integrating a non-EVM blockchain is far from being a low-hanging fruit for us, but it is essential for our long term goals that we embark on such a mission as early as possible.”
Elrond Network will benefit from this collaboration because they will now be able to tap into liquidity and users from additional platforms leading to improved adoption.
Meanwhile, Elrond Milestones achieved: 595k mainnet wallets 5,2M transactions, and 1,72M staked and ongoing.
Talking about bad times in the market Beniamin Mincu: “The market is burning. We’ve been through this many times. Leverages, extreme emotions, irrationality. Step back. Zoom out. Think longer term. For builders, this is an opportunity. When markets burn, at Elrond, we’re in the trenches, pushing even harder toward the next steps.”
One of the community member was like: You don’t celebrate the tops, and you don’t freak out at the bottoms; that’s what the building will do. I support zooming out at all times.
Many of the community members are like, I trust in what you are doing and that it will change the game of blockchain. Keep the doubters motivated. The next two months will be big here at Elrond.
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