ADA Finance
Connecting to ADA Finance happens through non-custodial wallets. Currently, as Cardano is getting ready to expand development, there is a limited number of wallets available. In order to offer ADAFi’s DeFi hub to as many people as possible, we will integrate:
  • Gero wallet
  • Daedalus wallet
  • Yoroi wallet
Once a wallet is connected, the ADA Finance platform loads and reflects all the balances available in the wallet, optimizing the user experience.

Wrapping assets to Cardano using Token Bridges

Cross-chain bridges provide fast and secure connections between blockchains, creating scalability and interoperability between networks. ADA Finance users will be able to convert their assets from other blockchains to Cardano, using the ADA Finance platform.
To wrap an asset using a Token Bridge smartcontract, users will need to send the asset to the provided smartcontract address. The asset gets locked and a wrapped version gets minted on the Cardano blockchain.
Figure 3: Wrapped Token contract
The assets get wrapped at a 1:1 ratio, by a continuous minting and burning model as users can wrap and unwrap whenever they please. An oracle overlooks the process to make sure that the 1:1 ratio is maintained. There is a 0.1% platform fee when assets get unwrapped from Cardano.
Once the asset is wrapped on Cardano, it can be used to:
  • Swapped to other Cardano Native Tokens
  • Lend / borrow on ADA Finance
  • Invest in DeFi products like Staking and Farming
  • Provide liquidity to ADAFi Swap
  • Provide liquidity to ADA Finance
Unwrapping the asset will happen instantly, providing the user a smartcontract address to send the wrapped asset to, which gets burned and the user gets the native asset released to the address that he provides. Simple, fast and transparent, the 3 key characteristics of ADA Finance.
Last modified 3mo ago