Derived Finance is thrilled to announce its support for Cardano chain. We are looking at the Cardano platform and are fast-tracking development towards the moment when the smart contracts are launched.
Derived Finance welcomes the addition of a new blockchain to its Decentralized Multi-Chain Asset Protocol. All eyes are now on the Cardano addition, and we are working hard to get the launch on track at the earliest opportunity. This will allow all Cardano users with additional options to trade stocks, commodities, forex, or crypto on our unique platform with unlimited liquidity and no slippage. With this partnership, we can build one more bridge connecting traditional and digital financial markets and bring the power of smart contracts of derivatives trading to the Cardano ecosystem.
Cardano, the Swiss army knife of protocols
Cardano is also known as the “Swiss army knife of protocols” that can solve real problems. First, Cardano is a green cryptocurrency, it is much more sustainable compared to Bitcoin, because of the PoS (Proof of Stake) protocol. Cardano’s energy use is around 0.01% of Bitcoin’s.
According to their website, Cardano is the only coin with a “scientific philosophy and research-driven approach.” It is an open-source blockchain that undergoes a rigorous peer-review process by the Cardano team. This includes scientists and academic programmers. The result is a safe, flexible, and scalable platform which will allow many people to keep using Cardano in the future.
Use cases for Cardano are available in many sectors. Health care (counterfeit medicine eradication), finance (accelerating administrative processes), government (digital identity), and the agriculture sector (supply chain tracking) are just a few samples.
High transaction capacities, fast transaction times, and low transaction fees are reasons why Derived is interested in Cardano. Once the Hydra layer is added to its blockchain, potentially up to 1 million transactions per second can be processed.
Another very interesting aspect of the Cardano platform is their goal to be the ‘Internet of Blockchains’. They want to connect all cryptocurrencies together, making it possible to move assets from one cryptocurrency to the other. Cardano takes a more inclusive approach by being supportive of the market as a whole.
Derived Finance and Cardano into the future
These advantages of the Cardano system will fit and blend perfectly into Derived Finance’s goals and vision. At Derived we are excited to explore the opportunities that integration with Cardano will bring to our platform.
Being the first and only true Multi-chain Synthetics Trading Platform, Derived aims to propel the usage of leveraged synthetic assets. With the blockchain being transparent, censorship-resistant and globally distributed characteristics, Derived Finance makes tokenization of assets a lucrative investment opportunity. We make it possible to invest in stocks, commodities, and any other assets in the world for an average person.
Derived is providing a gateway to a global, decentralized marketplace with no restrictions by any centralized authorities. Various DeFi features are just a click of a button away, like staking and yield.
Derived Finance is excited to bring all this to the Cardano blockchain, allowing its community to take full advantage of the Derived Protocol. More details will follow soon.
Till then, make sure to follow us on our social handles (Telegram, Twitter, and Website) to keep up to date with the latest news.
