Blockswap to integrate ADA into its DeFi app, which only uses “green” cryptocurrencies
According to a press release shared with U.Today, Cardano’s innovation fund cFund – which supports early-stage startups – has invested $ 500,000 in Blockswap’s DeFi app to integrate Cardano’s native ADA cryptocurrency into the platform.
The app is called Open Saver and only works with blockchains that run on the Proof of Stake (PoS) consensus protocol, which avoids environmentally harmful blockchains such as Bitcoin and Ethereum.
Thus, investors using Open Saver can benefit from betting on green cryptocurrencies without having special technical knowledge or skills.
Aside from receiving staking rewards, the app also allows ADA staking operators to use their crypto holdings as collateral, which in theory can increase the rewards they get from staking.