Advanced Cross-Chain Bridge Glitter Finance seeks to

LONDON, November 19, 2021 (GLOBE NEWSWIRE) – Technology company Glitter Finance is working to integrate the Algorand DeFi ecosystem with a highly sophisticated DeFi (decentralized finance) ecosystem – Solana – for better interoperability in the space of DeFi blockchain. The integration will ensure that traders using Glitter Finance will be able to transfer their digital currencies from Algorand to other Layer 1 blockchains.

Solana is a leading brand in the DeFi space and already has a huge fund of around US $ 8 billion locked in, making it a force to be reckoned with, in terms of both capital funding and DeFi mechanism. top of the line. Algorand, a rapidly growing platform with approximately $ 1.5 billion in locked digital assets, will be integrated with Solana with support from Glitter Finance.

Glitter Finance has raised $ 3 million to help achieve its primary goal of expanding interoperability across the DeFi ecosystem and enabling cryptocurrency owners to anonymously move their assets from one blockchain to another, with less difficulty. Previously, its rounds of table and strategic rounds had been oversubscribed just 30 days after the official announcement, closing with more than $ 2.2 million.

The Glitter Finance cross-chain bridge holds a user’s digital assets in their vault until the user decides to transfer them to the second blockchain. When transferring to the second blockchain, traders have access to the liquidity of the encapsulated tokens created by the Glitter Bridge, which is then redeployed into integrated yield pools.

With the advanced features of the platform, trading is ideally suited to the new trader as a Glitter Finance algorithm who over time studies a user’s trading decisions / behavior through AI and machine learning, would trade automatically and efficiently on their behalf. This concept helps a newbie or inexperienced crypto trader eliminate the risk of exposing their assets by having to transfer those assets themselves to other Layer 1 platforms, manually. That’s not to say that the platform doesn’t have a place for crypto experts or advanced traders – there is an option to trade manually on Glitter Finance if a user wishes.

Traditional or regular cross-chain bridges would only allow users to trade by manually transferring their assets or encapsulated tokens to a new blockchain. This method exposes a user’s liquidity to great risk, especially the newbie to the crypto space. Therefore, Glitter Finance is a trading platform that seeks to help these users execute a trade with just one click of the “Trade” button. Such innovation brings complete comfort to traders who would also make profits, as the capital inefficiency problem typically experienced on traditional platforms is being eliminated thanks to Glitter Finance’s built-in liquidity pool.

Glitter Finance, however, addresses these challenges from three main angles:

I. Creation of an advanced cross-chain bridge that helps eliminate capital inefficiency by allowing traders to make profits through the redeployment of packaged tokens created by the Glitter Bridge into existing built-in return pools on the platform. Glitter shape.

II. Deployment of algorithmic trading to facilitate the trading process for new traders.

III. Improve interoperability on the DeFi space, blockchain by connecting various ecosystems to its decentralized and advanced inter-chain bridge – Glitter Finance. This is why the company is committed to helping Algorand improve its interoperability by connecting to other Layer 1 ecosystems like Solana which has already succeeded in building a distinctly robust DeFi ecosystem.

The company’s co-founder and managing director, David Dobrovitsky, explains it in more precise terms: “Algorand is a relentless layer 1, with no downtime, and a deeply effective model for social management. The Algorand Foundation is a marvel of excellent organization. Being a huge fan of both the technology and the organization behind it, I have enthusiastically put Glitter on the right track to helping the Algorand community with ease of access to other vendors. layer 1. I am happy to see the investors and the market support our initiative.

“One of our main interests in building Glitter Finance is the idea of ​​mass adoption. To do this, we are creating a ‘one click’ trading platform, through which novice traders can have a lowered knowledge threshold to enter DeFi financial systems and still generate a constant profit. “

There are over 15 active partnerships with venture capital funds.

Project / Future plan

The company plans to audit its code through its layer 1 partner, the Algorand Foundation. Further audits will be performed by Glitter Finance through testnet, through a notable third party that will be hired.

About Glitter Finance

Glitter Finance is an Estonian company specializing in developing AI solutions to enable traders in the DeFi ecosystem to easily transfer their digital assets across various blockchain networks, without the help of middlemen or middlemen.

The company run by serial entrepreneur David Dobrovitsky and his wife Gelena Dobrovitsky, chief strategy officer (CSO) and co-founder of the company, has developed an advanced cross-chain bridge at the corporate level – Glitters Finance – a platform that creatively addresses the challenges associated with traditional cross-chain platforms, in particular the issue of capital inefficiency.

Social connections

Twitter: https://twitter.com/glitterfinance

Telegram: https://t.me/GlitterFinance

Instagram: https://www.instagram.com/glitter.finance

Media contact

Project name: Glitter Finance

Email: [email protected]

Website: https://glitter.finance/

THE SOURCE: Glitter Finance