Cardano’s ADA Finance Emerges as the ”Best DeFi Project of the Year” at AIBC Summit
Cross-Dual-Chain DeFi ecosystem, ADA Finance, was announced as the “Best Defi project of the year” at AIBC Summit 2021. The win makes it the first project to be named the “Best DeFi project of the year.”
The announcement was made on November 16 at the 2021 AIBC Summit, which brings together market leaders in AI, blockchain, IoT, Quantum (NASDAQ:) Tech, and other emerging technologies.
What is ADA Finance?
ADA Finance is the first cross dual chain DeFi ecosystem of the Cardano and blockchains. As a dual-chain ecosystem, ADA Finance allows users to choose the network they run the ADAFi Ecosystem.
The ADAFi Ecosystem allows users to access multiple DeFi tools, including staking, farming, lending, liquidity providing, and a DAO.
Users of the network get incentivized while benefiting the network they run the ADAFi on – Cardano or Avalanche.
ADA Finance: Transforming the Cardano Code
In addition to being rated top DeFi project of 2021, ADA Finance caught the attention of more investors, including Roger Ver, former .com CEO, Carl “The Moon,” Crypto Banter, and MMCrypto.
Both announcements come just one month before the Initial DEX Offering (IDO) of ADA Finance.
On The Flipside
- The project is also the first publicly released code on the Cardano blockchain – meaning anyone can create a fork of the ADA Finance code.
ADA Finance took this route, hoping that more Cardano projects would follow suit. The goal is in line with Cardano’s philosophy of promoting openness and trust.
Why You Should Care?
Achieving the status of the best DeFi project is no mean feat and could potentially be the catalyst for greater adoption ahead of its IDO.
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