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Cardano (ADA) is planning to expand its decentralized finance (DeFi) infrastructure in the next months. The new project comes after the long-awaited Alonzo upgrade is finally live. Cardano developers want to take DeFi solutions the most promising eco-system in the cryptocurrency market.
Emurgo, the commercial branch behind Cardano, explained in a recent Tweet that they have teamed up with Blockchain 4A to create Astarter. The new joint venture will build decentralized finance services on top of Cardano.
Astarter is tasked with expanding the DeFi solutions running on the Cardano network. The Shenzhen-based company will create a launchpad, a decentralized exchange (DEX) and a money market and tech service dApps. Cardano’s recent smart contract capability will now make this implementation on top of this blockchain network possible.
Chief Executive Officer of Emurgo, Ken Kodama, said:
“DeFi has been gaining traction very rapidly over the past year, as it can provide more accessible financial services to many people that have been underserved by the current financial system.”
The past year and a half, a stream of DeFi projects have been released to the crypto space, mainly built on the Ethereum and Binance Smart Chain networks. Is now the time for Cardano to measure itself against the big boys and turn their big words into reality?