The world of DeFi will meet another important player in the coming months: Cardano. The update to Alonzo has in fact activated smart contracts and grafted a new exciting path of the blockchain that has already entered into some important partnerships, as recently announced at the Cardano Summit 2021.
Ardana is a decentralized stablecoin hub that will be tasked with creating and maintaining Cardano's economy sustainable, especially in the DeFi sector. Ardana is also working on the Danaswap DEX (decentralized exchange) which will allow instant and low cost swaps between all native and non-native assets that will be active in the Cardano ecosystem.
Ardana therefore takes care of the creation of the stablecoin dUSD, whose value is linked to the dollar and is guaranteed by on-chain collateral, allowing Cardano investors to invest capital and protect them from the volatility of the crypto market.
In this perspective, the collaboration with Elrond (EGLD), one of the first non-native assets on Cardano that can be used as collateral for dUSD minting, was announced. The ELGD coins will be transferable from the Elrond Network to that of Cardano and vice versa through the construction of a quick, safe and cheap bridge in order to be able to move large capital at any time, taking advantage of the volatility of the market.
This means that ADA, Cardano's currency, will also be transferable to the Elrond network in the future for potential future projects. Elrond offers a very functional blockchain with an efficient scalability of over 10,000 transactions per second and I believe there will be other collaborations between the two blockchains. The Elrond community is thrilled with the collaboration and I am sure it will be an important strength for Cardano.
This collaboration demonstrates how important interoperability between blockchains will be in the new DeFi and new bridges will be needed that will allow transactions between the various chains. Leofinance is working in this direction and the realization of Leo Bridge is a first big step towards the future. Building today to be protagonists tomorrow in the DeFi that will really count and Cubfinance, still in an initial phase of development, can be inserted very well in its space, focused on optimizing its evolution step by step. Time is important but haste is a bad ally.
I don't know why, but something tells me there will be big problems with Cadano. I could be wrong, of course. The community will leave the ADA when problems begin to arise. I just couldn't warm to Cardano. I don't like Cadano. Moreover, there is great competition in DeFi.