Open Saver and works only with non-polluting blockchains
According to a press release shared with U.Today, Cardano’s innovation fund, cFund – which supports early-stage startups – has invested $500,000 in Blockswap’s DeFi app to have Cardano’s native cryptocurrency, ADA, integrated into the platform.
The application is called Open Saver and works only with blockchains running in the proof of stake (PoS) consensus protocol, avoiding environmentally harmful blockchains such as Bitcoin and Ethereum.
Thus, investors using Open Saver will be able to profit by betting on green cryptocurrencies without having any specific technical knowledge or skill.
In addition to receiving staking rewards, the app will also allow ADA staking operators to use their crypto holdings as collateral, which can, in theory, increase the rewards they get from the stake.
Cardano full steam ahead
The fifth largest cryptocurrency on the market has been in the public eye recently, thanks to the optimism associated with the future hard fork Alonzo. The successful implementation of Alonzo Blue has laid a transparent foundation for further future developments within the space.
In fact, the second quarter saw more good news for the Cardano ecosystem. For example, according to the trading platform eToro, Cardano crossed Bitcoin as the most held cryptocurrency in the same period. At the time of this writing, Cardano was trading around the $1.23 price level.
The bullish sentiment associated with Cardano received more fuel today after IOHK made an ad bringing the ecosystem closer to the Decentralized Finance (DeFi) space.