Clover Finance to Move Ethereum-Based DeFi Apps to Polkadot

[Cristiano]

Clover Finance is a cross-chain compatibility parachain on Polkadot, and it has recently managed to raise $3 million. This fundraising aimed to utilize the money to provide an infrastructure that is easy to use for the developers.

In addition to this, Clover Finance is aiming to develop a one-stop EVM-compatible framework that will enable DeFi apps to shift to Polkadot.

Clover Finance will now be in tight competition with Acala, the DeFi ecosystem that recently made announcements regarding solutions to intensify Ethereum Virtual Machine (EVM) compatibility, and MoonBeam Network.

Clover is not the only one as it joined Snowfork, a project based on Substrate, and ChainSafe, a coding house, in producing cross-chain bridges from Ethereum-based DeFi to Polkadot.

Burak Keçeli, Clover project lead, said:

“Clover aims to become the very first noncustodial bridge in the space.”

One of the necessary steps for applications like DeFi to work on Clover is the compatibility of the tech backend of Clover with the EVM.

Info:- Clover Finance is a cross-chain compatibility parachain on Polkadot, and it has recently managed to raise $3 million. This fundraising aimed to utilize the money to provide an infrastructure that is easy to use for the developers.

In addition to this, Clover Finance is aiming to develop a one-stop EVM-compatible framework that will enable DeFi apps to shift to Polkadot.

Clover Finance will now be in tight competition with Acala, the DeFi ecosystem that recently made announcements regarding solutions to intensify Ethereum Virtual Machine (EVM) compatibility, and MoonBeam Network.

Clover is not the only one as it joined Snowfork, a project based on Substrate, and ChainSafe, a coding house, in producing cross-chain bridges from Ethereum-based DeFi to Polkadot.

Burak Keçeli, Clover project lead, said:

“Clover aims to become the very first noncustodial bridge in the space.”

One of the necessary steps for applications like DeFi to work on Clover is the compatibility of the tech backend of Clover with the EVM.