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Algorand
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ALGO · 1w

✨Investing.com: Glitter Finance Strikes New Partnerships, Aims to Improve DeFi Cross-Chain Capital Inefficiency✨

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 (NYSE:) 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 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 . 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 ...

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