Algoracle Partners with Glitter Finance
Press Release

Algoracle Partners with Glitter Finance

February 28, 2022 - Algoracle is excited to announce a partnership with Glitter Finance to utilize Algoracle data feeds in the Glitter Finance Network on the Algorand blockchain.

Algoracle is a decentralized oracle network that is built on the Algorand blockchain. It enables universally connected decentralized node networks to securely interact as independent sources to provide critical off-chain, real-time data feeds needed by complex smart contracts.

Glitter Finance is a platform addressing current capital inefficiency in decentralized finance through its cross-chain bridge that allows the redeployment of a portion of locked tokens (collateral) on one chain into yield-generating vaults on another chain. Glitter Finance ecosystem comprises a cross-chain bridge, an auto-yield generation solution with risk balancing, and a cross-chain NFT marketplace.

“We are very excited to partner with the team at Glitter Finance, and Algoracle is thoroughly impressed with Glitter Finance’s technical capabilities and leadership team.” Says Algoracle’s CEO Abdul Osman. “We believe this partnership will result in the launch of industry-leading and innovative solutions for the DeFi space that will make Algorand a premier choice for future decentralized applications. We look forward to releasing the details of these solutions in the near future. “

Glitter Finance aims to boost capital efficiency and utilization across various blockchain networks with its cross-chain bridge that facilitates the redeployment of dormant wrapped token liquidity. Glitter Finance has integrated blockchain networks through its bridge and started with Algorand. Its cross-chain interoperability ensures that there will be sufficient yield farms listed on the platform at any time.

“Algoracle is an exciting, new oracle protocol that is native to the Algorand ecosystem. Created by an incredibly talented team, it is a top startup in the ecosystem. The Glitter Finance technical team, working in concert with the technical team of Algoracle has developed new innovations that will greatly enhance and change the way blockchain and cross-chain bridges work and will allow for much greater solidity and stability for the Glitter Protocol. All in all, we are both grateful and excited for this incredible, new opportunity and partnership,” said David Dobrovitsky, founder and CEO of Glitter Finance, regarding the new partnership.

For more information about the Algoracle and Glitter Financial partnership please visit Glitter.Finance or follow on Twitter @GlitterFinance and or follow on Twitter @Algoracle.

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