The founders of Findora have made large strides in expanding the platform’s influence and services over the last two years, and 2022 has already continued that trend.
Findora, which describes itself as a next-generation blockchain with programmable privacy, has made the expansion of decentralized finance (DeFi) services the center of its strategy, bringing in as many partners to build on its platform as possible.
In the first few months of this year, Findora DeFi services have already expanded to include new options for leveraging the blockchain in support of developers and existing companies seeking to implement new technologies.
In February 2022, Findora launched Prism, an on-chain bridge that allows the conversion of digital assets for both retail users and developers.
The majority of blockchains adhere to one of two record-keeping models: the unspent transaction output (UTXO) model or the account model. Bitcoin, for example, uses a UTXO model, while Ethereum uses an account model.
With Prism, Findora is able to integrate both UTXO and the account model into its chain architecture, allowing it to use the advantages of both of them. By uniting these parallel chain approaches with Prism, Findora enables the automatic swap of tokens between the two without the need for a central intermediary.
“With Prism, users can atomically and trustlessly convert their FRA-native tokens on the native chain to FRA-smart tokens on the smart chain,” said Warren Paul Anderson, VP of Product of Findora’s parent company, on AIthority. “This increased functionality allows for a huge amount of diversity in the DeFi ecosystem via the Findora chain.”
In another expansion of Findora DeFi partnerships and services, the Rialto bridge on the Findora Testnet is now ready for community testing, the company announced in March 2022.
Named after the famous Rialto Bridge in Venice, this Rialto bridge is a type of blockchain bridge, which serves to link together different ecosystems better than traditional exchanges. Blockchain bridges not only allow for the flow of tokens between two completely different blockchain silos, Findora wrote, but can also allow those silos to communicate data.
In the case of the Rialto bridge, it’s a bi-directional Testnet bridge that is a fork of Chainsafe’s ChainBridge.
It is customized to support the Findora Network, enabling users to transfer tokens to and from the Binance Smart Chain (BSC) Testnet to the Findora Testnet.
In the first stage of a planned giveaway campaign, Findora will distribute $100,000 of the total $1,000,000 reward pool, with the rest planned for distribution as new features of the platform require testing.
The mainnet bridge will go live a few weeks after Rialto has been extensively tested by the community, Findora wrote. Learn more on how to enter and qualify for rewards here.
“We are thrilled to finally start exporting Findora’s privacy functionality to the broader cryptocurrency world,” a leading developer of Rialto said in the press release. “We are excited to work with Findora to empower users with control over their data and true privacy protection. The Shaking Up the Bridge campaign is a great initiative, and we are grateful for their contribution to the community.”
Rialto will allow for the migration of liquidity to Findora’s privacy-focused Dapps, including the company’s recent partnerships with FairySwap and Venice Finance.