Occam.fi
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Occam.fi

Wrapped ADA Functionality Goes Live on the Occam.fi Bi-directional Liquidity Bridge

The Occam.fi team is excited to announce the live launch of wrapped ADA (wADA) through its Ethereum <> Cardano Bi-directional Liquidity Bridge.

The cross-chain swap capabilities, thought to be the first of its kind deployed for Cardano’s native asset, enables users to make use of the DeFi tools and yield farming protocols on Ethereum — which the Occam.fi team will soon build out.

This mechanism will enable users to realise more significant yields on their ADA holdings than could currently be provided through staking alone — before moving their balance back to Cardano and bringing with it all the rewards they earned. As and when smart contracts become available on Cardano through Alonzo, these mechanisms will be hosted on the Cardano blockchain.

Elliot Hill, Head of Communications at Occam.fi, says:

It is expected that wADA functionality will be a crucial step in bringing on-chain value from Ethereum to the Cardano blockchain.

The first yield-generating mechanism to soon be made available for wrapped ADA will be liquidity mining against the Occam.fi token, OCC, and eventually the deFIRE token, cWAP.

Read the full step-by-step walkthrough here. Visit the bridge here.

Follow Occam.fi’s social media channels to stay up to date with the latest news:

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