With Bondly DeFi arrives on Cardano
IOHK, a company working on the development of the Cardano blockchain, has informed that it has entered into a partnership with Bondly, which will be the first platform to enable Cardano for its DeFi products.
We would like to remind you that Bondly is a swap protocol that also operates in the field of escrow and provides high security to all those who make Bitcoin Millionaire transactions, so both the seller and the buyer have certainty of their funds. This solution, for example, is especially suitable for e-commerce.
For its part, Cardano’s blockchain continues its progression and evolution on the blockchain and smart contract side and will see one of its first applications, Goguen, to create a new strand of dApps on this blockchain.
In fact, Bondly’s platform has chosen Cardano’s blockchain to launch its service and build a marketplace, given the low cost and speed of this blockchain.
Bondly to create DeFi on Cardano
Thus a real dApp (decentralized application) will be created using the BONDLY token that will be brought to this blockchain by Polkadot, while the implemented escrow solution will be called BONDProtect.
Democratizing finance through the blockchain is an important step and shows how it is at the service of the user, as IOHK CEO Charles Hoskinson recalled:
„IOHK’s main mission is to expand and democratise access to financial services, which is why Bondly is a perfect partner for us. With the implementation of Gougen and Cardano’s smart contracts capabilities, we look forward to working with Bondly to build solutions that will enable DeFi to realise its true potential and scale to completely replace the global digital financial system.
For its part, the Bondly team will benefit from being the first dApp on this blockchain, as Bondly CEO Brandon Smith explained:
„I am very excited to work with the extremely talented team at IOHK/Cardano, to share the technology between our companies and to have the Bondly suite of products on one of the world’s most impressive blockchain.