Gora Introduces New Finance Platform
Gora is taking advantage of the speed and utility of its cross-chain oracle to build a DeFi platform to alleviate the challenges with cross-chain DeFi.
Why Gora Finance?
During the two years of Gora Network’s development, we faced some key challenges in working with our vendors and partners when moving money across chains, launching the $GORA Token, high gas fees on swaps, and earning risk-free yield on treasury. Furthermore, majority of the services used were fairly centralized.
We realized that many of these challenges are a direct result of the limitations of blockchains, such as limited storage and computation, and lack of external chain awareness or computation limitation. Gora Network was designed to allow these while still remaining decentralized. The importance of decentralization is often overlooked, but its the most important aspect that allows protocols to reduce risk while delivering the greatest value to its stakeholders.
Token Sale Vesting and Launchpad
We have seen users have an appetite to buy tokens even if it’s not on a chain they have previously never interacted with. In a recent survey of $GORA token buyers, 70% bought the $GORA token without having previously interacted with Algorand in any way. However, tools that do proper, decentralized token sales are hard to find.
With the Gora Finance Platform, projects can now accept purchases on any chain, and vest the tokens on Algorand, in a decentralized manner. Gora has built the tools needed to do this during our own token launch, and now we’re making these available, but adding support for users to pay on any chain. We believe the best way to get users excited about Algorand, and more developers, is to have higher quality project with a sophisticated platform to launch on.
Swap USDC across chains
Gora is excited to announce the integration of Circle, the issuer of USDC , as a data provider. Using their APIs, the Gora Finance platform is able to move amounts of USDC across any chain it supports. At launch, the Gora Finance platform will be on Algorand, Arbitrum, Ethereum and Polygon, with plans to expand into Avalanche and soon after.
Yield Optimization
Due to its cross-chain awareness, and off-chain computational abilities, Gora is able to leverage existing, liquidity rich protocols such as Balancer or Liquity, to get the lowest cost loans or the highest APRs, even if a user’s assets are on a chain like Algorand. With Gora’s cross chain awareness and off chain computation abilities, moving liquidity to non-EVM chains like Algorand will give the network a competitive advantage.
Web 2 capabilities, Web 3 Decentralization
Gora node operators are free from the constraints of traditional blockchains, such as limited storage, or computation. This is achieved because rather than keeping a record of historical chain information, the data is instantly written back on-chain.
This architecture allows Gora Network to provide a rich volume of off-chain data (including from other chains), while also having a computation layer rivaling that of Web 2. The Gora Finance App is just a single showcase of the type of applications that can be built on the Gora Network.
About Gora:
Gora is a leading oracle platform that provides secure, reliable, and decentralized data feeds for different Blockchains. With a mission to enable seamless data integration for smart contracts in cross-chain ambient, Gora empowers projects to make data-driven decisions and unleash the full potential of dApps.
For more information about Gora, visit our Linktree.
