First Cardano DeFi project to be transferred from Polkadot

Bondly will transition its cryptomoeda, BSwap OTC platform and BONDProtect e-commerce platform to Cardano from Polkadot.

First Cardano DeFi project to be transferred from PolkadotNOTÍCIAS

The decentralised e-commerce platform Bondly will be the first decentralised financial project to be executed in the blockchain Cardano as part of the implementation of the Goguen intelligent contract functionality platform.

In the Twitter announcement, the company that built the Cardano platform, IOHK, called the partnership „A major step in continuing the mission of both companies to bring decentralised finance to the masses.

The launch of Goguen, due to be completed in February 2021, allows decentralized applications to be built on the network and initiates the integration of DeFi projects into the Cardano ecosystem. IOHK CEO Charles Hoskinson said the introduction of applications like Bondly on the platform will allow „DeFi to reach its true potential, ultimately scaling to completely replace the global digital financial system.

As the upgrade increases, Bondly will transition from Polkadot’s BONDLY cryptomode to Cardano, in addition to the company’s two core products – the BSwap over-the-counter trade platform and the BONDProtect electronic trade platform, which provides decentralised assurance and buyer protection.

Unlike Ethereum, where ETH transactions receive more importance than those made with ERC-20 tokens, the Goguen update will not Bitcoin Revolution prioritise Cardano transactions over other tokens issued on the platform. This provides better performance for non-native tokens, which will inherit all the security and smart contract features of the native ADA token from Cardano.

After the complete implementation of the Cardano Goguen update, the Marlowe Project of the platform will start. The initiative will allow loans and contracts for difference (CFDs) between pairs directly in Cardano. Users of the platform will be able to launch ready-made models of DeFi contracts and digital assets by transferring the contract terms into the platform.

Earlier this week, the company announced another DeFi project, Liqwid, as a potential candidate to receive $250,000 in ADA funding as part of its Catalyst Project.

Hoskinson has always had high ambitions for Cardano. In July 2020, he suggested that Cardano become a leader in the DeFi sector. Six months earlier, the IOHK CEO predicted in a YouTube AMA that Cardano will replace Bitcoin as the number one crypt by the end of the year. This has not yet happened … but there are still three weeks left.