- Clover Finance is improving its partnership portfolio to explore the new opportunities in the DeFi sector
- Clover Finance has recently partnered with Litentry to adopt Decentralized Identity (DID)
- DID’s broader adoption scenario is being generated in the DeFi sector
- Clover ecosystem is also observed empowering the Polkadot ecosystem
Clover Finance, a Polkadot para chain offering an easy to use blockchain infrastructure, has partnered with Litentry, a blockchain identity management protocol. It is known that the latest partnership will scrutinize more possibilities to adopt Decentralized Identity (DID) in DeFi and cross-chain markets. This partnership can also bring new opportunities to the entire DeFi sector and play an essential role in the industry. Simultaneously, the firm also has plans to support more decentralized finance products adopting DID.
How will the partnership help Clover Finance?
The Litentry protocol is a Substrate-based credit computation network aiming to enable decentralized identity aggregation, verification, and credit calculation. On the other hand, the protocol is privacy-focused, as privacy preservation is fundamental to its network. It also supports incognito on-chain data processing.
Following the aforementioned facts, the protocol can offer better services to Clover Finance. According to Clover Finance, decentralized identity will play an essential role in the DeFi sector soon. Indeed, Litentry can possibly aggregate identities across various chains. And it can also offer such identity services for decentralized applications or dApps in the Clover ecosystem.
A broader adoption scenario is being generated of DID in DeFi
Clover Finance is a smart contract platform which is based on a Polkadot network. On the platform, users can enjoy DeFi products. The portrait of such products can function as the essential infrastructure for decentralized identity in various aspects. Such aspects also include blockchain governance and decentralized finance. Simultaneously, with the latest partnership, Clover will gain the potential to support more DeFi products. Hence, such DeFi products would adopt decentralized identity.
The smart contract platform is empowering Polkadot
Last week Clover Finance partnered with BoringDAO. BoringDAO allows blockchains with smart contracts such as Ethereum to become a Layer2 solution for BTC and makes cryptos programmable. Thus, BoringDAO can boost the efficient circulation of dApp assets on the Clover ecosystem across multiple chains. On the other hand, as a leading smart contract platform on the Polkadot ecosystem, Clover can offer convenient infrastructure to BoringDAO. And will also assist the protocol with integration into the Polkadot ecosystem.
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