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Tuesday, January 18, 2022

Clover Finance unites with Standard Protocol to safeguard collateralized assets

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Clover Finance, a decentralized infrastructure platform that’s focused on cross-chain compatibility for decentralized finance or DeFi applications has announced its partnership with Standard protocol, a collateralized stablecoin platform on the Polkadot chain. As per the blog, Clover is a substrate-based blockchain platform with a strong wallet suite that’s focused on cross-chain compatibility for decentralized applications [DApps] across several ecosystems such as Ethereum [ETH], Polygon [MATIC], Polkadot [DOT], Solana [SOL], Binance Smart Chain [BSC], Fantom [FTM], Avalanche [AVAX], Kusama [KSM].

Delving more on the collaboration, the blog post further states,

“Standard Protocol governance token, STND, is now integrated with Clover’s MultiChain Wallet to safeguard the collateralized assets. Now, you can find the STND token on both Ethereum and Polygon Network on Clover Wallet Suite, including extension wallet, mobile wallet, and web wallet. “

The news comes after a week when Clover Finance secured 5th position in Polkadot’s first round of five parachain auctions. The successful launch enabled the blockchain to bring a unified multi-chain experience to the Polkadot ecosystem.

So, what is Clover Finance?

The crypto industry, especially the DeFi and non-fungible token [NFT] markets have been successful in capturing mass attention over the last year and have recorded explosive growth. However, the concept is still new for many new entrants primarily because of the lack of beginner-friendly tools and complicated process.

This is where Clover Finance intends to bridge the gap that exists between new crypto users and crypto natives by providing an efficient portal for everyone, including new and old users, developers, into the DeFi space.

Clover Finance – a gateway to Omniverse?

As per a blog published on December 21, the platform shared some insights on key milestones for the network in the coming 2022. One of them is the goal to become the ‘Passport to the Omniverse’. But what does it imply? In the article, Clover put forward a few points on its infrastructure as well as outlined a roadmap for the upcoming year.

Clover provides a one-stop infrastructure for cross-chain and decentralized applications such as DeFi.

  • On the top layer, Clover Multi-Chain Wallets sit as the user’s interface, an entrance
  • On the middle layer, there is the Clover dApp interaction protocol for cross-chain dApp communication and interactions
  • On the bottom layer, there is the Clover EVM and Universal Cross-Chain support.
Kaylie Pferten
A pilot of submersible crafts in a former life, now married to my husband David and writing about investment advice.

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