Elrond Network recently announced a partnership with Composable Finance, the cross-layer, cross-chain interoperability platform. The collaboration will see Elrond Network equipped with the ability to build interoperable dApps on its ecosystem.
Composable Finance acts as the meta-liquidity framework for DeFi assets and is developing a protocol-agnostic layer. It will help information and assets to flow between different networks and Layer 2 protocols developed on the blockchain.
The partnership will help Elrond use Composable’s aggregated liquidity on blockchain networks. The announcement has piqued the interest of traders, making them look for short-term Elrond price predictions.
Beniamin Mincu, the CEO of Elrond Network, shared his opinion on the development. He stated that DeFi solutions functioning on the Elrond Network would steer the future of financial data. Furthermore, Elrond Network is delighted to draw the liquidity on other networks using interoperability frameworks like Composable Finance.
Cosmin Grigore, the CEO of Composable Finance, also talked about collaboration. According to Cosmin, Composable aims to establish an interoperability layer for every asset and DeF product. The platform intends to assist value to flow seamlessly to the needed space. That is why Composable is delighted to leverage the available DeFi prospects emerging on Elrond.
Elrond recently established a partnership with Panther Protocol to promote compliance-friendly and interoperable privacy disclosure mechanisms. Moreover, the integration allows Elrond users to deposit ESDT tokens using Panther’s zkSNARKs technology. Furthermore, it enables users to mint collateralized private zAssets, usable on multiple dApps.
The platform released its 2.0 version in 2021, and the quick collaborations with multiple platforms show Elrond’s intent to expand its reach. Such partnerships will surely improve Elrond Network’s value propositions and the DeFi sector as a whole.