DeFi Could Be On Its Way To Cardano
Cardano is in the spotlight again, this time linked to DeFi – a movement that’s been gaining massive popularity.
IOHK’s Project catalyst named Liqwid as a potential candidate that would get up to $250k in ADA funding.
Cointelegraph just revealed that IOHK named a DeFi lending protocol as one of the Project Catalyst ideas.
Without a doubt, this sends a really powerful message that DeFi apps could be on their way to the project’s blockchain.
IOHK addresses Project Catalyst
A few days ago, we were revealing that IOHK dropped some important new details about project Catalyst.
This is their experiment in the Cardano community innovation, and the team behind the project dropped a new thread on Twitter filled with juicy details.
MEGATHREAD: Project Catalyst is our experiment in community innovation, calling upon the #Cardano community to build the future, together.
— Input Output (@InputOutputHK) December 7, 2020
They also noted the following:
3. We’ll soon be inviting the community to register to vote, kicking off the first-ever public Catalyst funding round. An initial $250k-worth of #ADA will be available for building the best idea (s) @Cardano. And that’s just the beginning…
— Input Output (@InputOutputHK) December 7, 2020
IOHK continued the thread and posted this:
6. We’ve gathered together every idea. And each day, we’ll be sharing a handful for you to explore & enjoy 🌏 Each tweet links to a description on our Ideascale innovation platform. So click through to dive deeper (simple registration required) 💡💡#Cardano
— Input Output (@InputOutputHK) December 7, 2020
Anyway, we suggest that you check out the complete thread in order to find out the complete details of their plans.
The online publication mentioned above notes that the first candidate to be announced is Liqwid, “a DeFi lending market that allows participants to earn interest on deposits and borrow assets directly on the Cardano blockchain.”
