Tuesday, October 19, 2021

Cardano (ADA) Is Set to Have Its Own DeFi Hub with Launchpad and Decentralized Exchange

Cardano (ADA) is making the much-needed progress in its quest to make the competition more challenging for its stern rivals in the industry.

In order to facilitate Cardano’s further growth and development, Asterter, a decentralized finance (DeFi) hub with the support from key Cardano stakeholders such as EMURGO, is set to build a Launchpad, decentralized exchange, and lots more, on the Cardano blockchain.

Read Also: Cardano Is Set To Announce Mind-Blowing Partnerships. Get Ready For #CardanoSummit

The new development was announced on 16th September via Asterter’s official Twitter handle.

Asterter tweeted, “Introducing Astarter, a DeFi infrastructure hub on Cardano backed by EMURGO. Astarter is going to build a launchpad, decentralized exchange, money market and tech service dApps on the Cardano blockchain.”

According to a blog post captioned in the tweet, Astarter is equipped with everything that is needed to meet the surging demand of startups in the Cardano ecosystem.

Read Also: NFT Project on Ethereum Moving To Cardano After Alonzo Launch. More Moves Upcoming Due To High Gas Fees?

Four Components of Astarter ecosystem and How They Benefit Cardano (ADA)

According to the report, its first component expected to empower the next generation of projects being built on Cardano is a Launchpad that will allow seed and early-stage startups to raise capital and garner marketing support from the Cardano ecosystem. The listing on the Launchpad is said to be completely permissionless.

The next component of Astarter is ADEX, a pioneering decentralized cryptocurrency exchange on the Cardano network, which will offer both fast and secure support that lowers the DeFi world’s barrier to entry. It also provides accurate DEX data by making trade volume transparent and verifiable.

Read Also: Cardano Gains Over 200,000 Wallets in Just Three Months; 71% of ADA Supply Now Staked

The third component is Money Market, Astarter’s decentralized marketplace for borrowing and lending. The module of the Money Market services will act as user-friendly lending and borrowing environment for the digital token ADA and other native assets of Cardano.

The last component, according to the announcement, is the Tech Service Platform designed to offer resources needed to boost the user experience on Cardano.


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Tobi Loba
Tobi Loba is a passionate writer with over 3 million readers from all over the world. She graduated from a reputable university. She joined the crypto ecosystem about two years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects.

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