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OpenDefi, Pandora Partnership results in cross-chain and tokenisation services

By Mchapeyama | CryptoSocial News | 16 May 2021


OpenDefi announced a partnership with Pandora which opens new opportunities.  Basically this partnership opens rooms for cross-chain service and tokenization of assets into Non-fungible assets (NFTs).  

How is this possible?

There is a relationship between the services that Pandora and OpenDeFi offer. First, OpenDeFi deals with tokenisation of real world assets such as gold and silver. In actual fact, Open Finance is a decentralized financial platform that connects decentralized financial services to centralized ones. In order to function properly in the blockchain space, it has its own token- ORO.

Pandora

Pandora protocol enables trading of world assets in a frictionless way through turning them into NFTs. Therefore, with Pandora people trade real assets in the form of NFTs. Apart from this, it offers cross-chain service.

How does the partnership benefit OpenDeFi members?

This is the heart of this article. OpenDeFi users benefit the most in two ways. These are tokenisation of assets into NFTs and cross-chain services.

Cross-chain services

With this service, OpenDeFi or OroPocket users are able to benefit from cross chain swaps. This means that individuals are able to carry out transaction using ORO token on other various networks such as Ethereum, Binance chain and Polkadot.

Therefore, they get benefits from other blockchain.  For instance, the Binance Smart Contract has very low transaction fees. This creates convenience for the users, thereby adding value to them.

Tokenisation

The second way, members benefit from the partnership is through tokenisation of real world assets into NFTs. NFT (Non-fungible tokens) are trending at the moment. The business is growing by day and attracting many people.

Therefore, this partnership allows users to access NFTs based on real world assets. Interestingly, users gain the most from liquidity induction which the NFT market brings to OpenDeFi and its products.

OroPocket

Someone new to OpenDeFi may get confusion on OroPocket. It is a banking platform for OpenDeFi.

Community

The OpenDeFi community is growing from time to time. This enables people to get updated information. For more information, you are free to join the following platforms

Facebook: https://facebook.com/oropocket

Twitter: https://twitter.com/oropocket

 

 

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Mchapeyama
Mchapeyama

I am a blogger and writer


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