CrossFi and Aurora/NEAR Protocol: Collaborating to Extend the Functionality of CrossFi
Greetings, CrossFi Family!
It’s with great elation that we unveil our most recent partnership with NEAR Foundation.
CrossFi received a grant from Aurora Protocol for its direct and indirect efforts towards bringing more use cases and functionality to our defi platform to serve its ever-growing community.
This grant, however, will inarguably aid in fostering the developmental milestone of the CrossFi platform, both in usability and functionality — which, instead of its promise to solve “the immaturity of cross-chain technology” and “insufficient liquidity of assets”, will now help them venture into the building of a cross-chain decentralized exchange with greater stakes and liquidity assets, and integrating the Binance Smart Chain, Ethereum and the Aurora Bridge from NEAR tokens and Filecoin into the platform.
That’s to say that beyond the previous usage of CRFI and Filecoin tokens as the only native collateral asset within the CRFI platform, there’s now an integration of BSC, ETH, NEAR tokens within the bridge transfers, without having to face the increasing and frustrating trends of exorbitant transaction fees that oftentimes accompany the process.
About NEAR Foundation
By the year 2016, during which the blockchain industry was starting to bloom beyond measure, it was no longer a hard feat for one to predict that in the nearest future there will be a non-negligible need for proper tools to accommodate the innovative spirit of the growing platform. It was then a question of how easily and seamlessly the entrepreneurs and developers could strike the chord of possible inventions without facing both the hardcore bulwarks of corporate bodies and governments. Not too long after such a moment of need had arrived, and became etched deeply into the market space, there was an upheaval on which needed the helping hand between centralized and decentralized protocols, in regards to creating a healthy ground for new opportunities to strive.
There was no denying the fact that decentralized platforms are inarguably the hub of this transformation, especially with the blockchain technology instituted by Bitcoin and then furthered by Ethereum, which initiated a commendable and working decentralized ground to the market frontiers for developers to build innovative new apps and business models. But how can this feat, as cumbersome as it might seem, be achieved?
The miracle came quite early enough in the year 2018 as a collective known as NEAR Foundation. However, the role of this independent Swiss-based non-beneficiary miracle, NEAR Foundation (NF), is to make available an open-source funds-to-funds aid, whether in the form of data or a great financial chain, for running applications to tap into. As a community-driven and permissionless platform, NF puts together the strength of its operational and financial data to support the visions of the community of creators and developers within the platform, and even allows them to run their applications independently without any interference.
As exaggerating as it may sound, the Aurora ecosystem remains undoubtedly one of the best smart contracts built on NEAR Protocol. Not only does it serve as an Ethereum Virtual Machine (EVM), but it also portends itself as a reliable bridge that aids new developers to oversee their applications on a scalable platform that’s also compatible with Ethereum. This means that the Aurora Bridge assists the swapping of ERC20 and ETH tokens between Aurora and Ethereum with little-or-no-exchange-rates consideration. With its modern layer-2 like speed and scalability, according to its creators, Aurora aims toward helping ‘scale Ethereum ecosystem for developers to operate their apps on an Ethereum-compatible, high-throughput, scalable, and future-safe platform, with low transaction costs for their users.``
CrossFi remains the first and foremost cross-blockchain lending and liquidity sharing platform built on Filecoin. It’s a solution app hinged on a safe, performant environment for DeFi providers and clients to operate their applications on a fast, technologically compatible platform. That means that users and decentralized applications can generate liquidity pools with ease. However, despite the lending aspect of the platform, CRFI has built its own governance token to allow its users to participate in great staking opportunities, liquidity chain pools, key governance votes, and even a CRFI Borrow feature to foster the action. The main purpose driving CrosFi is to build a DEX application that will curb off the short supply of liquidity assets swallowing the blockchain industry and serve as a bridge between the isolated public and synthetic assets within the DeFi protocols without facing time-consuming processes that are both strenuous and overbearing at the same time.
The blockchain industry is far and deep into the age of revolution; and consequently, there’s an undeniable need for technological assistance and sustenance of such revolution. And its developers are not in a state of inertia, they are in fact always in motion, creating new applications, finding new ways to make the processes within the system an easy task, and as well democratizing the whole concept of DEX for everyone to be a part of it. And this partnership between two predictably important leading developers, Aurora and CrossFI, is another unfolding step in the industry revolution.
CrossFi is a cross-chain protocol that provides liquidity to you for Filecoin staking and rewards.
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