Categories: News

Occam Finance is building a “liquidity bridge” between Cardano and Ethereum

  • Occam Finance partners with exchanges to build a “liquidity bridge” between Ethereum and Cardano.
  • There’s a high probability that the OCC token will be one of the first Cardano based tokens listed on exchanges.

Occam Association President and Scalable Solutions founder, Mark Berger, gave an interview in which he revealed more details about the Cardano centered project Occam Finance. On the show “Your Cardano Update”, Berger outlined parts of the roadmap and discussed Cardano’s advantages over the competition.

First, Berger gave a brief overview on the 3 products that will be available on Cardano: the launchpad and fundraising platform called OccamRazer; a decentralized exchange called OccamX, defined by Berger as a “version 4” of Uniswap on “a better blockchain”; and OccamDAO with its OCC token. OccamRazer’s mission is to “open up” the market for new assets while OccamX will serve as the primary mechanism for providing liquidity.

A bridge between Ethereum and Cardano

To attract liquidity to the protocol, Occam Association has partnered with centralized exchanges. These will provide a “liquidity bridge” so that the OCC token can interact with Ethereum and Cardano. That way, users will be able to save on costs, and “eventually” there will be opportunities to generate yield using it, according to Berger.

Furthermore, the bridge for the OCC token will allow it to have a high probability of being one of the first Cardano compatible tokens to be listed on exchanges. Going forward, the Occam Association and the Scalable Solutions team will work to ensure that any native Cardano token can use this liquidity bridge.

Thus, Berger expects that there will be a greater demand, liquidity, and easier access to Cardano based assets for users in general. In addition, Berger aims to create a mechanism for exchanges to incentivize customers to keep their funds on their platforms by offering additional rewards through Occam Finance.

Berger said they are in the development of a bot that will enable this option for users. As a bonus, users of Occam Finance will be able to leverage “many” liquidity mining incentives.

This will be instrumental in having an incentive for people to start using our DEX once it is launched.

In a previous article, CNF reported on other features of Occam Finance features. Another of its goals is to become a complement to Project Catalyst and its fundraising mechanism. As the Occam team stated, Project Catalyst is not sufficient to meet “the funding needs of enterprises, institutions, and professional startup teams building on Cardano.” Because of that, the team wants to establish a decentralized fundraising mechanism for “significant capital raises”.

httpss://www.youtube.com/watch?v=Dz_eEg9Au_E

Reynaldo

Reynaldo Marquez has closely followed the growth of Bitcoin and blockchain technology since 2016. He has since worked as a columnist on crypto coins covering advances, falls and rises in the market, bifurcations and developments. He believes that crypto coins and blockchain technology will have a great positive impact on people's lives.

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