Bonded And Glitch: A Beginning
With DeFi on the rise, the ever-growing number of blockchain solutions literally defies imagination. Some of them are developer centric— built in an effort to improve upon the existing standards of Ethereum—while other products are designated for specific purposes. Glitch.Finance surely belongs in the latter category as this blockchain-based operating system is built with the key goal to serve decentralized finance applications.
For Bonded, new partners always bring in new opportunities and the chance to benefit from projects reaching new heights. Bonded is excited to onboard Glitch.Finance as an official partner to implement its existing groundwork into the Ionic lending instrument.
“Glitch believes developers drive crypto but it is earning potential that drives developers. To think differently would be naive. As a revenue sharing token and a platform built around trustless money markets, Glitch partnering with Bonded represents the beginning of an autonomous economy of shared resources and value. In simple terms, we’re psyched,” states Sean Ryan of Glitch.
Perhaps one of the most crucial issues in the blockchain industry is the lack of a convenient tool for cross-chain transfers. Each blockchain operates within its own universe with limited to no connection to the others. The lack of true interoperability creates obstacles for end-users and this is especially relevant for DeFi. Those who want to put their investments to work have to deal with numerous exchanges, imperfect tools, and endless fees decreasing the deposit sum.
This is where Glitch comes into the light. The team standing behind the project has developed a decentralized exchange that serves to connect all these universes through a simple and user-friendly interface. Glitch wraps external tokens and imports them into its ecosystem to be exchanged for other assets. The technology can handle whale-size trades while maintaining the fees at a very low level.
In addition to this ground-breaking solution, it comes with the following set of features:
- Ultra-fast transactions: Glitch can process up to 3,000 TPS
- Low fees
- Revenue-sharing model realized through the DPoS consensus mechanism
“The Bond network is steadily growing behind the scenes and sharing value is an underpinning of crypto. Glitch is prescient enough to recognize where our goals align and the potency of network effects. As interoperability becomes a real thing, the seamless transition between protocols will become blurred. Developers can develop in a multi-purpose fashion while holders of Glitch can stake on our platform and earn and receive Bond.” stated Paul Mak, CEO of Bonded Finance.
About Glitch
Glitch is a Hong Kong based blockchain platform developing a blockchain agnostic protocol with the goal to facilitate the exchange process on trustless money markets. Unlike existing blockchains, the project doesn’t aim to build a ‘one-size-fits-it-all’ solution and focuses on DeFi.
About Bonded Finance
The Bonded platform was created to incubate and deploy experimental, high-yield, smart-contract driven financial instruments that push the bounds of open finance. Bonding is an algorithmic model that aims to unlock, aggregate, and de-risk ~50 billion in dormant value distributed amongst untapped digital assets by allowing supporters of qualifying altcoin projects the opportunity to borrow against these assets or pool them and start earning.
