ADA Handle Partners with Liqwid Finance
We are delighted to announce our latest partnership, this time with Cardano wallet naming solution ADA Handle.
ADA Handle is a domestic naming solution for UTxO blockchains built natively on Cardano. Their mission is to implement a human-readable solution powered by NFT’s to extend the rigid cryptographic standard; the Handle Standard.
With a predictable standard, dApp developers can query the Cardano blockchain at any time to determine the current residing address of a Handle.
How ADA Handle Works
Unlike many other routing services on Ethereum, Handles are secured entirely as native assets on the Cardano blockchain, the Layer 1 ledger.
This means ADA Handle does not require smart contracts for address routing, ensuring that even in the event of an unlikely smart contract bug, routing will always be accurate — 100% of the time.
The current DeFi ecosystem in its entirety has little to no standardized frameworks for implementing a decentralized identification (DID) system — something Liqwid is building a runway for starting with our Atala Prism integration plans. DIDs have the power to enable on-chain credit systems that allow borrowers to have more dynamic collateral options than the current DeFi ecosystem allows. DIDs also unlock the ability for suppliers and borrowers to attest to onchain generated data in the real economy, unlocking RealFi. Naming solutions such as ADA Handle will play a defining role in the shaping of Cardano’s DID ecosystem standards and design patterns. Interoperability is the the foundation of composability and ADA Handle extends itself naturally to become an early Atala Prism integration.
Together ADA Handle and Liqwid Finance look to expand the superiority of user-experience and security for DeFi users offered within the Cardano ecosystem. This partnership is the start of a synergistic collaboration in which we aim to bring the users of Cardano the most secure, easy to use, and beneficial products in the industry.
As a part of this partnership, Liqwid Finance will add support for Handle address resolution directly within the app interface! We are excited to take the next step in user-friendly experiences for Web3 protocols together.