Bondly Finance appoints a new strategic Partner, SKALE Network, a decentralized ethereum based layer-2 PoS network provider. Bondly Finance was thrilled to announce the strategic collaboration through its Twitter handle. According to reports, the coming together of the two businesses would take scalability a notch higher, which will readily support the increased user-base and spike in transactions.
Brandon Smith, CEO at Bondly, expressed his view via a blog post, stating that the association will be able to open a new dimension of Non-fungible Tokens (NFT) and digital assets to the non-crypto part of the market place and deliver reasonably priced services compared to its competitors.
Bondly Finance will gain a competitive advantage from SKALE’s feature, which will help to take the edge off the gas prices on Ethereum. Consequently, there will be a boost in traffic as users will seek to benefit from superior quality of trading assets with reduced fees as compared to other leading players in this industry.
Skale Network’s ecosystem is currently known to support as many as 2000 transactions every second and offers great interoperability due to its highly compatible Ethereum ecosystem. Skale will play a major role in putting a cap on the gas prices through its layer two solutions based on Ethereum.
So this alliance will achieve two things, firstly it will reduce the cost exponentially, and secondly, it will attract the major chunk of users that were driven away due to demotivating factors present in the market. With these two areas taken care of, the market space will be buzzing with an increased number of users, which will be supported by powerful Dapps systems.
Bondly Finance provides decentralized, transparent, and interoperable swap protocols allowing peer-to-peer transactions through a myriad of mediums and multiple chains. This feature of Bondly Finance allows users easy access to a wide range of digital assets. Bondly Finance strives to deliver a higher level of democratization in dealing in the financial marketplace through their innovative DeFi solutions.
Bondly Finance’s full-stack product BondProtect achieves that by pooling together, the synergies spread across the market space by channeling it through DeFi technology. Bondly Finance and Skale Network are set to change the DeFi space.