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Bandot - The newest member of Polkadot Defi Alliance

Polkadot Defi Alliance has announced their newest member, Bandot– a Polkadot– based decentralized and smart contract management stable coin.
Published date: February 6 2021

Polkadot's ecosystem seems to be growing fast, since it has so many advantages when compared to Ethereum. In fact, many DeFi projects have become vibrant ecosystems, just like Polkadot’s defining features as an ecosystem of ecosystems. To expand its ecosystem, Polkadot has created Polka Defi Alliance as a way to connect all the projects across its network. Polkadot DeFi Alliance is where industry-leading projects and cutting edge teams come together to propel forward the larger Polkadot ecosystem and the overall cryptocurrency industry.

Recently, Polka Defi Alliance has announced that they just welcomed the newest member, Bandot – a Polkadot – based decentralized and smart contract management stable coin. The participation of Bandot in the ecosystem may bring a lot of advantages for the development of Polkadot in the future.

Bandot is Polkadot's stablecoin unsecured lending system, which builds a new paradigm of liquidity aggregation platform. Together with the development of blockchain technology, it is very essential for every project to enhance its competitive benefits. However, almost every blockchain project is an independent ecosystem, which makes the communication quite limited. And the lack of interoperability will create many difficulties for the development of the whole industry. Understanding this problem, Bandot is created as an innovatively designed cross-chain DeFi aggregation platform to provide users with maximum asset liquidity and providing unprecedented convenience in lending and stablecoin exchanging. With its network, Bandot can allow different token economies to carry out cross- chain circulation safely and conveniently.

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