CLV (CLV)

Polkadot ecosystem has officially mainet and is growing strongly. Prominent names that have won parachain positions in Batch#1 include: Acala, Moonbeam, Parallel Finance, Astar and Clover Finance.

What is CLV?

Clover Finance is a smart contract platform based on the substrate framework, highly compatible with the Ethereum virtual machine (EVM - Ethereum virtual machine) allowing developers to migrate their contracts to the network. Polkadot.

It can be said that Clover Finance is a cross-chain infrastructure layer project to help applications work more seamlessly or to help developers connect DeFi dApps between Ethereum and Polkadot easily. 

Currently, projects on Ethereum only need to clone the dApp and redeploy to Clover Finance through MetaMask, Truffle, Remix, etc., to be able to launch solidity smart contracts on new networks. Clover Finance has minimized some changes to better suit the above work.

Outstanding features

What is the project trying to achieve?

Clover is solving 6 important problems in the crypto space.

SPV simulation technology

Clover Finance has created an integrated SPV chain emulation technology that enables seamless cross-chain communication as well as trustless two-way peg communication in both complete and incomplete blockchains.

Compatibility with EVN

Clover Finance provides seamless multi-chain indexing on four major networks such as Bitcoin, Ethereum, Binance Smart Chain, and Polkadot. In a streamlined, distributed system environment, users can browse through blocks, transactions, or accounts to find the necessary data and information.

Reasonable gas fee redistribution

Clover Finance incentivizes dApp creators by sharing a percentage of the transaction fees themselves with them. This will ensure a fair redistribution of gas fees, energize the developer community, and foster an ever-innovative DeFi ecosystem on Clover Finance.

Optimize user experience

Aiming to enhance and simplify the user experience, Clover Finance has reinvented feeconomics to do just that. Clover Finance will use its smart relayer on behalf of the sender to make it possible for the forwarder to pay, pay gas fees with the same token from the transaction user fees, without depending on the order. base currency like ETH. Transaction fees are automatically deducted from the assets of the trading user.

Fees based on identity

Clover Finance's dynamic fee schedule is a brand new gas charging algorithm that helps project users receive a discount in proportion to the frequency of their network activity. In other words, the cost to pay will be proportional to the level of interaction. The less users interact, the more money they have to pay, and vice versa, if the user has a lot of interactions with the network, the cost is negligible.

Cross-chain interactions

Clover Finance works alongside the implementation of various open source wallets to interact with cross-chain dApps without having to navigate between Polkadot or Ethereum based networks. Users can reliably and seamlessly perform sending, receiving or opening cross-chain assets on Ethereum and Polkadot.

What is unique selling point?

The outstanding image of “Clover” in the middle of a DeFi green forest is thanks to the following outstanding features:

• Fast access speed: users will not need to go through complicated procedures and can immediately access the network.
• Peer-to-peer: everyone is treated equally, no one can or has the right to prevent or control a transaction.
• Ownership: without any centralized governing entity, token holders have full control over their electronic assets.
• Transaction cost and speed: With low cost, optimal speed, Polkadot was able to solve the dilemmas of the current Ethereum network.
• Security: reliable, responsible for user assets.
• Privacy: does not store any personal information.
• Fairness: do not let fake orders and wash trading happen.
• Level of efficiency: cross-chain communication mechanism and can be further scaled on the Polkadot network.

Read Full Article: CLICK HERE