DeFi projects are popping up like a mushroom. And Ethereum is one of the DeFi laden blockchain out there. Surprisingly It's the DeFi that is built on the ADA and Avalanche cross chain that has won the "Best DeFi Project" of the year award.
ADA Finance recently tweeted about this achievement.
What is ADA Finance?
ADA Finance is a DeFi project that makes use of the Cardano and Avalanche blockchain. It offers various DeFi tools which includes - staking, lending, swap, farming and DAO. Think of it as a Dual Chain DeFi offering all modern and traditional DeFi benefits.
They won the award based on it's features and the function noticed during the Private sale. It's public sale would be happening mid of December probably. It's own ADAFI token is going to be used for both internal and also for the launchpad usage. It'd be interesting to see how they sustain the system.
What it means for Consumer?
Based on the DeFi movement recently on the blockchains like Avalanche, Solana, Cardano and Polkadot shows that consumer now have much better option that investing into the Ethereum based DeFi pools. You get much better and secure exposure outside the chains without having to worry about the network fees like you do on Ethereum.
For those who are invested into the Cardano and Avalanche, you're going to be seeing a lot of market growth news like this hopefully.