Cardano DeFi Alliance Has Announced Its Progress Updates and 2 New Members

Cardano DeFi Alliance (CDA) Progress Updates

CDA team has been busy the past few weeks setting out on building a foundation towards achieving their goals. The CDA is instrumental in creating standardized practices to foster collaboration and advance innovation in Cardano DeFi.

Proper governance is the first step to creating a framework for collaboration and organizational structure. The first focus of the CDA, as previously mentioned, is to tackle developmental issues around CIPs 31,32,33 and scalability.

Updates from their last meetings include exciting news in collaboration with the IOG in regards to funding opportunities for the CDA. They have been in detailed discussions about funding initiatives to hire skilled, and focused professionals (mainly in areas pertaining to development, documentation, and education).

One of these education initiatives is to provide an enhanced training ground for Plutus Pioneer graduates in the form of internship programs. These graduates would be placed with the existing teams within the CDA to bolster their skills in Plutus development. With this, there is no time wasted on training/integrating the next generation of Plutus Pioneers as they will grow alongside the most experienced developers in the field. Being able to onboard these individuals will greatly enhance their ability to provide proper Plutus script/library documentation, to create a more enlightened developer experience for ease of mass adoption around Plutus.

The Project Welcome 2 New Members

Education has come to the forefront of the alliance’s attention, and this is helped along through continued growth and open discussion. Therefore they announced their two newest members of the CDA:

ErgoDex — a non-custodial decentralized exchange that allows a quick, effortless, and secure transfer of liquidity inside and between the ergo and Cardano networks

“The ErgoDEX team is happy to join the CDA and foresees a long-term collaboration on improving the Cardano ecosystem as well as researching new solutions to DeFi scaling” — Ivan ErgoDEX CMO

VyFinance — an original interpretation of a DEX, built with many features. One of such is a liquidity aggregator (auto harvester). The Aggregator will function via their Neural Net, a program that teaches itself how to perform tasks, and in this case will be learning how to optimize liquidity over yield farms.

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