Nord Finance enters into strategic partnership with Elrond to bring Cross-Chain DeFi opportunities.
Nord Finance today is one step closer to its mission of making DeFi accessible by tapping into Elrond’s ecosystem to create automated Cross-chain DeFi investment opportunities for eGold holders. With the addition of Nord finance to the ranks of Elrond, this partnership will evoke massive revolution in the DeFi space. This strategic partnership will be instrumental in driving DeFi investments to mainstream adoption
Nord Finance is a blockchain agnostic financial ecosystem focusing on simplifying decentralized finance products for users by highlighting traditional finance’s key attributes. It is operable across multiple blockchains and offers savings, advisory, loans against assets, investment and funds management, and swaps.
With the rampant momentum in the DeFi space, financial primitives available on all of these platforms have been growing at an accelerating rate. Therefore Nord finance simplifies tracking the best yield opportunities and promotes seamless participation in them.
Raving the DeFi space through smart solutions simplifying investments
Nord finance is thrilled to announce that eGold holders will be able to participate in cross-chain DeFi opportunities via Nord’s ecosystem, the one-stop platform for tracking the best yields across different blockchain ecosystems to maximize returns on DeFi investments. Elrond will explore further opportunities to efficiently utilize the Nord Finance’s select products providing an increased exposure to the Elrond community.
The integration will first efficiently utilize the Elrond <> Ethereum token bridge to enable value transfers. From a longer perspective, Nord Finance will leverage the advanced arbitrary messaging bridge capabilities of the Elrond <> Ethereum bridge (tba) to allow smart contracts on one chain to call smart contracts on the other chain, thus enabling users to automatically capture the best opportunities.
Beniamin Mincu, Elrond CEO elucidated on the nuances of the partnership,
“The ability of capital to flow unconstrained by region, technology, or denomination is the key towards establishing the internet of money. Tools like the ones that Nord Finance is building will level the global finance playing field and provide significant opportunities to anyone, anywhere.”
Nord Finance’s CEO, Amarnath Reddy expressed the future of the partnership saying,
“The Nord Finance products fit perfectly in Elrond’s grand vision of a globally interoperable financial system, a vision we enthusiastically share ourselves. We’re eager to explore the Elrond Network technical capabilities and provide our users with deep integrations into its blossoming DeFi ecosystem.”
The integration is crucial as it allows Nord finance to bring massive opportunities to the platform users in the Elrond ecosystem. It gives eGold holders the chance to participate in DeFi opportunities on other platforms, while also enabling users from different blockchains to engage with our ecosystem, for mutually beneficial growth.
Nord Finance is actively working towards cultivating a seamless DeFi investment experience for users. We are a community-centric project focusing on driving increased participation and engagement from the users, envisioning a decentralized future. We will continue to form strategic alliances pushing beyond our boundaries with a vision to drive massive adoption. In case of any queries and questions, reach us out.
Elrond is the internet-scale blockchain, designed from scratch to bring a 1000-fold cumulative improvement in throughput and execution speed. To achieve this, Elrond introduces two key innovations: a novel Adaptive State Sharding mechanism, and a Secure Proof of Stake (PoS) algorithm, enabling linear scalability with a fast, efficient, and secure consensus mechanism. Thus, Elrond can process upwards of 15,000 transactions per second (TPS), with 6-second latency, and negligible cost, attempting to become the backbone of a permissionless, borderless, globally accessible internet economy.
About Nord Finance
Nord Finance, a blockchain agnostic platform, is an advanced decentralized financial ecosystem that focuses on simplifying decentralized finance products for users by highlighting traditional finance’s key attributes. Deployed on the Ethereum Network, it integrates multi-chain interoperability, thus proposing a plethora of financial primitives, which constitute savings, advisory, loans against assets, investment/funds management, and swaps.
At Nord Finance, we are building a one-stop advanced decentralized financial ecosystem to serve the rising needs targeting novice users and professionals to meet their financial goals.