Sydney, Australia, 20th April, 2021. Bonded.Finance is set to onboard Glitch.Finance as an official partner, beginning with an integration into Bonded’s upcoming Ionic lending protocol.
With Decentralized Finance (DeFi) garnering mainstream attention, the number of blockchain solutions is growing exponentially but Glitch.Finance is built with a unique focus on trustless money markets.
“Glitch believes developers drive crypto but it is earning potential that drives developers. To think differently would be naive. As a revenue-sharing token and a platform built around trustless money markets, Glitch partnering with Bonded represents the beginning of an autonomous economy of shared resources and value. In simple terms, we’re psyched,” stated Sean Ryan, Founder of Glitch.
While many DeFi solutions are built with the general aim to improve the existing standards of Ethereum, products designated for specific purposes like Glitch are coming to the fore.
The lack of interoperability has been plaguing the blockchain for some time; particularly the lack of convenient cross-chain tools. Blockchains, in general, remain siloed and this lack of interoperability creates obstacles for end-users. DeFi transactions can be particularly fee intensive and traders who aim to withdraw and liquidate their investments often have to deal with numerous exchanges, transactions, and costly fees.
As a revenue sharing token, offering Glitch holders the opportunity to gain earning power via Bonded’s lending/borrowing protocol represents something of a coup. For Bonded, the depth and breadth of the projects they are partnering with is impressive. Paul Mak, CEO of Bonded, stated, “The Bond network is steadily growing behind the scenes and sharing value is an underpinning of crypto. Glitch is prescient enough to recognize where our goals align and the potency of network effects.”
“As interoperability becomes a real thing, the seamless transition between protocols will become blurred. Developers can develop in a multi-purpose fashion while holders of Glitch can stake on our platform and earn and receive Bond.”
The Bonded platform was created to incubate and deploy experimental, high-yield, smart-contract driven financial instruments that push the bounds of open finance.
Bonding is an algorithmic model that aims to unlock, aggregate, and de-risk ~50 billion in dormant value distributed amongst untapped digital assets by allowing supporters of qualifying altcoin projects the opportunity to borrow against these assets or pool them and start earning. For more information, visit: bonded.finance.
Glitch is a Hong Kong based blockchain platform developing a blockchain agnostic protocol with the goal to facilitate the exchange process on trustless money markets. Unlike existing blockchains, the project doesn’t aim to build a ‘one-size-fits-it-all; solution and focuses on DeFi. For more information, visit: glitch.finance.