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First DeFi project on Cardano bridges from Polkadot

Bitcoin Enthusiast – Kenny

Bondly, an e-commerce platform, plans to create a new version of its own Cryptocurrency and become the first decentralised finance project on the Cardano Blockchain. Bondly will be part of Cardano’s Goguen smart contract roll-out which allows the ability to build decentralised applications on Cardano’s foundation of peer reviewed research. IOHK had announced through Twitter that the partnership will bring “decentralised finance to the masses”.

Charles Hopkinson, CEO of IOHK had introduced applications like Bondly on the platform to help show Defi’s “true potential” with plans of scaling to replace the worldwide Digital Finance system. When the upgrade is on the rise, the cryptocurrency trading token BONDLY will be added to the Cardano Blockchain platform to go alongside the current Polkadot Coin. It’s said to help connect the companies two main products, BSwap and BONDProtect, by creating a bridge for these products it will help provide buyer protection and decentralised mediator service.

The update to Goguen will not set a priority for any tokens, so Cardano transactions will not be prioritised over the other tokens that are already issued on the platform. This will help in terms of performance for its foreign tokens by inheriting security and smart contract features of ADA. With the completion of Cardano’s Goguen upgrade, the Marlowe Project will begin, the users of the Cardano platform can then launch the templates of the digital assets and DeFi contracts.

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