Announcing its strategic partnership with NEAR Foundation, DeFi marketplace Ariadne revealed that it also received a grant from the NEAR Foundation. This partnership aims to solve the issue associated with high gas costs and make sure that the APYs used in the decentralized finance system do not mislead the people and eat into their profits. The collaboration will lead to the development of the NEAR Protocol, a public blockchain based on the proof of stake consensus mechanism.
Ariadne has already taken a shot in order to solve the above issues by deploying its smart contracts on Aurora. It will also develop the smart contracts for NEAR as part of this collaboration. As a result, users can access the best farms available on different blockchain networks such as Ethereum, Binance Smart Chain, Solana, and Polygon, among others.
The working mechanism of the Ariadne smart contracts is simple. The smart contacts make their entry into the farm. The aFarm tokens are minted accordingly. The real convenience is that these tokens can be swapped or purchased on the same blockchain where they have been minted. The process allows aFarm tokens and their wrapped version to be available to all blockchains participating in the ecosystem. As a result, users can easily buy or sell tokens that otherwise would be too difficult to handle.
This collaboration involving a DeFi marketplace and scalability protocol is definitely going to have a positive outcome for the entire cryptocurrency and blockchain technology domain. These two organizations are complementary in terms of their strength and functional objectives, which provides this association a solid ground to stand on. It will be interesting to witness how this partnership pans out in the future and what unique capabilities this brings to the table.