BlockchainCardano (ADA)CryptocurrencyDeFiNews

Cardano Teams Up With Orion Protocol For Bringing Scalability To DeFi And NFTs

Both Cardano (ADA) and Orion Protocol have joined forces to create a flexible groundwork for NFTs and DeFi products. The multi-asset blockchain of Cardano (ADA) will enable better interoperability with the Orion protocol. The parent company of Cardano (ADA), IOHK, has become the maiden liquidity aggregator of the blockchain framework of Cardano (ADA) after partnering with Orion Protocol.

Orion protocol has cleared the path for a non-custodial gateway into the crypto asset market by using a single DeFi platform to aggregate liquidity from various crypto-asset exchanges. The partnership of the Orion protocol with Cardano (ADA) has come into being after a series of Orion protocol’s partnerships with various other protocols such as Avalanche, Elrond, and Binance Smart Chain.

A Bridge Between Cardano (ADA) and The Crypto Asset Market

This newly integrated partnership of Cardano (ADA) and Orion protocol will bridge the gap between Cardano (ADA) and the entire crypto asset market by providing the option to its users of accessing liquidity from various centralized exchanges in a rather decentralized manner. As stated by a blog post, the primary focus of Cardano and Orion is going to be on resolving issues like scalability and creating a flexible groundwork for NFTs and DeFi products.

📰  An Anonymous Person Projects “Bitcoin Fixes This” On The Wall Of UK Parliament And Bank Of England

Cardano (ADA) became a multi-asset protocol with a fully decentralized framework on 31st March, which was a very long-awaited launch for the DeFi community. Now coming with a multi-layer protocol, the integration of the infrastructure of Cardano (ADA) will provide far better scalability, interoperability, and a greater performance using Orion Protocol.

The blog post also said that Orion Protocol takes pride in the fact that they are the first aggregators of liquidity on the groundbreaking infrastructure of Cardano (ADA), working hand in hand to enable greater sustainability and scalability of the NFT and DeFi spaces.

Cardano in The DeFi and NFT space

The NFT Aggregator of Orion Protocol would be used to connect all the NFT markets in a single platform. This will be the first platform of its kind. The CEO of Cardano also stated that a smart contract for the DeFi platform would also be coming soon.

MubaShar Nawaz (United Arab Emirates)

MubaShar Nawaz is an experienced crypto writer working for Tokenhell. Having passion for writing, he covers news articles from blockchain to cryptocurrency.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button