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A lot of companies are successfully closing funding rights as of late. As decentralized finance gains more popularity, it is essential to extend this functionality to as many blockchains as possible. deFIRE wants to bring DeFi to Cardano to create new opportunities and incentives.
A Bold Move By deFIRE
The blockchain and cryptocurrency industry has no lack of innovation since day one. Numerous ideas and concepts are being trialed around the clock to make this industry more appealing to mainstream consumers. The advent of decentralized finance – an industry worth over $100 billion – has shown people there is a way to access financial products and services without relying on intermediaries. It is essential to expand this technology to as many blockchains as possible and focus on interoperability rather than competition.
deFIRE, a decentralized smart order routing engine tapping into the Cardano ecosystem takes a bold approach to DeFi. With the backing of Changelly and Occam.fi, deFIRE aims to provide optimal execution services across decentralized exchanges. With a strong focus on token swaps, order routing services, and intermediary services, deFIRE offers a compelling package for enthusiasts and participants alike.
Occam Association President Mark Berger comments:
“DeFi is growing at an accelerated pace. Cardano will be the go-to destination for massive flows of on-chain liquidity once smart contracts are released. To accommodate most seamlessly the order flow aimed towards the Cardano-DeFi ecosystem, it is crucial to offer optimal, trustless order execution. We embrace this challenge by merging a rockstar tech team that has built its name in the Cardano ecosystem and the wide business network, other resources of Changelly to build the first optimal execution infrastructure for Cardano. Led by the best team and powered by the CWAP native token, deFIRE is light years ahead of the competition.”
Even though blockchain and cryptocurrency ecosystems do not require any middlemen, deFIRE will position itself as a value-generating middleman. It is essential to build the necessary infrastructure to connect ultimate execution venues with order flow originators. The success of decentralized finance hinges on the infrastructure to create new and innovative products and services. An intermediary service on this scale can make Cardano a more attractive ecosystem for DeFi purposes.
A Successful Pre-IDO Round
The vision by deFIRE has attracted a lot of attention from venture capitalists. Even though the project is set to launch its Initial DEX Offering on the OccamRazer platform soon, this pre-IDO funding round will help move things along. With the help of investors like Morningstar, SwissBorg Ventures, Hype Partners, GenBlock, Nodeseeds, and others, deFIRE raised $5 million. A substantial amount, yet one that illustrates the potential significance of this Cardano-based DeFi solution.
Thanks to this capital injection, deFIRE aims to expand the scope of its collaboration with Changelly and Occam.fi. By becoming the first fiat on-ramp and swap platform for Cardano-native tokens, an exciting development is on the horizon for supporters of this ecosystem. As Occam.fi provides the first IDO fundraising capability for Cardano-oriented solutions – through its OccamRazer launchpad – it will serve as a valuable partner for the deFIRE team.
Closing Thoughts
As Cardano now becomes the next frontier for decentralized finance, the industry marks another crucial milestone. Whereas most initiatives initially focused on Ethereum, it is evident there are other viable ecosystems to explore. Evey blockchain needs a set of native tools, products, and services to unlock the potential of decentralized finance.
With the help of Changelly and Occam.fi, deFIRE appears to be en route to establish a significant cornerstone of Cardano’s future Defi ecosystem. Low latency decentralized order routing with deep on-chain liquidity will cater to individual and institutional originators and traders’ needs.
