Glitter Finance Strikes new Partnerships, Aims to Improve DeFi Cross-Chain Capital Inefficiency
Glitter Finance continues to strike partnerships and grow its community.
In a recent Twitter post, Glitter Finance said it was increasing its social media presence to Reddit, Instagram, LinkedIn, Discord, and Telegram. At the same time, the DeFi platform is striking high-profile partnerships. Glitter Finance has already joined hands with ExNetwork Capital-- a top crypto fund in the Philippines. With this deal, Glitter Finance now becomes part of ExNetwork Capital's growing portfolio of blockchain projects.
Fragmentation and Cross-Chain Bridge Capital Inefficiency in DeFi
The Glitter Finance project identifies the fragmentation in DeFi and capital inefficiency of cross-chain bridges . Its solution will efficiently solve these pain points by leveraging the Solana bridge ecosystem to boost capital efficiency between cross-chain bridges.
According to their pitch deck, their primary objective is to increase capital efficiency through the opportunities presented by its interoperable bridge connecting to several rapidly growing blockchain ecosystems like Polygon, Solana, Algorand, Cudos, and Terra. Specifically, integrating with the Solana Bridge makes it easier for Glitter Finance to channel idle collateral into the incorporated yield investment platform, making the experience of ordinary DeFi users even more exciting.
Glitter Finance will be redeploying synthetic versions of tokens created on the interoperable bridge into yield pools integrated into the platform. As a result, they can leverage the creation of synthetic versions of tokens on the new chain while concurrently deploying a portion of the original locked asset into yield farms. Overall, the team aims to build a product that taps on the rich liquidity in the bridge ecosystem to increase capital-efficiency for DeFi traders.
In the long run, the development team has indicated their plans of integrating artificial intelligence and machine learning. This will create an algorithmic trading platform that overly benefits novice traders. To ensure this quickly comes to fruition, the Glitter Finance interface is intuitive, easy-to-use, and will soon launch on mobile. The wire-framing and the portal's technology stem from the team's cumulative experience exceeding 15 years, converging to ensure the project posts impressive results.
DeFi Adoption Barriers, the Glitter Finance Solution
The DeFi ecosystem continues to blossom. According to trackers, DeFi dApps cumulatively manage over $256 billion. While Ethereum dominates, upcoming protocols like Solana, Polygon, and Terra have decent market share despite their relative nascence, launching years after Ethereum's release. Despite their newness, these blockchains resolve challenges facing Ethereum by promoting interoperability and improving user experience through low on-chain fees.
Even with the rapid expansion of DeFi, some high-power dApps are still created by anonymous teams. At the same time, the fragmentation of DeFi solutions dispersed across different ledgers coupled with the relatively high knowledge threshold slows down adoption. Glitter Finance aims to eliminate these barriers by focusing on the ordinary user to build trust, improve liquidity and capital efficiency. The DeFi platform is leveraging the expertise of the development team to deliver a suitable solution meeting the varied needs of end-users across the globe.
Notably, the Glitter Finance cross-chain bridge creates exciting opportunities in trading by expanding the possibilities of accessing deep and rich liquidities without sacrificing flexibility. These bridges, the team explains, exist as mini-ecosystems for creating synthetic versions of tokens from the blockchain they bridge.
There are 125 million Glitter tokens, of which 30 percent has been allocated for liquidity and incentives. All of them will be released during the token generation event. Holders of the Glitter token would have the power to govern and access core functions of the platform. For instance, they can list new yield farms, change cross-chain transfer treasury fees, and even update oracle addresses.