Cross-Dual-Chain DeFi ecosystem, ADA Finance, was announced as the “Best Defi project of the year” at AIBC Summit 2021. The win makes it the first project to be named the “Best DeFi project of the year.”

It was announced at the 2021 AIBC Summit (November 16th), which gathers market leaders in AI and blockchain, IoT. Quantum (NASDAQ.) Tech, among other emerging technologies.

What does ADA Finance mean?

ADA Finance is the Cardano’s first dual-chain DeFi ecosystem. ADA Finance is a dual-chain ecosystem that allows its users to select the network in which they want to run their ADAFi Ecosystem.

The ADAFi Ecosystem provides multiple DeFi tools for users, such as staking, farming and lending.

Users of the network get incentivized while benefiting the network they run the ADAFi on – Cardano or Avalanche.

ADA Finance: Rewriting the Cardano Code

In addition to being rated top DeFi project of 2021, ADA Finance caught the attention of more investors, including Roger Ver, former .com CEO, Carl “The Moon,” Crypto Banter, and MMCrypto.

The announcements were made one month ahead of the Initial DEX Offer (IDO), which is being held by ADA Finance.

Flipside

• The project is also the first publicly released code on the Cardano blockchain – meaning anyone can create a fork of the ADA Finance code.

ADA Finance followed this approach in hopes that Cardano projects might follow. The goal is in line with Cardano’s philosophy of promoting openness and trust.

Why you should care

The achievement of DeFi’s best project status is no easy feat. It could also be an opportunity to encourage greater adoption before the IDO.

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