Estonian, tech-based company, Glitter Finance announces a new algorithmic trading platform – Glitter Finance – that deploys AI and machine learning to help traders interact easily between multiple blockchain networks, at a click. With this AI (Artificial Intelligence) technology, community members will be able to move their locked digital assets from one blockchain to another without the help of a brokerage or exchange.
The technology will help traders actualize DeFi (decentralized finance) yield farming profits with ease, by locking the TVL (total value locked) on a particular chain and then producing digital coins on another. A trader can, at a click, lock their coins in a vault, thereby creating versions of the minted coins, otherwise called “wrapped tokens”, on a different blockchain. By this, Glitter Finance will be eliminating middlemen present in the traditional financial world. This would enable seamless interactions between traders/investors and the financial platform that will help them gain profits.
As the company’s Co-Founder/Chief Strategy Officer (CSO), Gelena Dobrovitsky, puts it, “Glitter is a brand changing innovator bridge that brings the everyday user into the crypto world seamlessly. We smooth the way through current technical and psychological barriers by providing user-friendly, streamlined architecture so that everyone in the world can feel good investing and surfing the crypto wave.”
With the numerous shortcomings in the DeFi finance space, cross-chain bridge architecture, in terms of capital inefficiency, Glitter Finance brings innovation which focuses on “mass adoption”, running independently from interconnected platforms, on various blockchain networks. This would be achieved through the redeployment of synthetic assets, created by the Glitter Bridge, into integrated yield pools present in the Glitter Finance Platform.
The company seeks to make the concept of Cross-Chain Capital more effective through the application of AI and machine learning. It combines the advantages of Algorand’s interoperability and those of other blockchains such as Terra, Solana, Cudos and Polygon, to offer different services that simplifies DeFi trading for the novice trader, including advanced bridge architecture, integrated yields, cross-chain bridge, redeployment of synthetic tokens, creation of a ‘one click’ platform through algorithmic deployment, among other features.
More than ten venture capitalists have partnered with Glitters Finance to help create the vision of this game-chaning, DeFi platform, including leading brands like Skybridge20 Ventures, Oracles Investment Group, Automatic Venture Group, DB Invest, Halvings Cap, Space Capital, Nodeseeds, Dutch Crypto Investors, CRT Capital, ZBS Capital, Kangaroo Capital, BullishBlock Capital, Thinksmartbrother Capital, CSP DAO, Black Dragon, Exnetwork Capital and Legion Ventures. Within one month of the announcement, their seed and strategic rounds were oversubscribed and closed with more than $2.2 million raised.
The backbone of Glitter Finance will be the Algorand blockchain. Algorand is a blockchain ecosystem that is highly scalable, carbon-neutral, and with enterprise-level security. It allows for low gas fees and up to 1,000 transactions per second. It has a new investment from Anothony Scaramucci’s Skybridge Capital and a contract with the government of El Salvador. The Algorand Foundation also has awarded a new grant worth $250 thousand to Glitter Finance, for DeFi ecosystem interoperability expansion. Other Layer 1 ecosystems that have contributed funds and grant support to Glitter Finance include the Polygon Foundation and Cudos.
About Algorand’s advanced blockchain technology, David Dobrovitsky, Co-Founder/Chief Executive Officer (CEO) of Glitter Finance was quoted as saying: “Algorand is an unforkable layer 1, with no downtime, and a deeply effective model for social management. The Algorand Foundation is a marvel of excellent organization and worthwhile initiatives. Being a big fan of both the technology and the organization behind it, I enthusiastically put Glitter on course to help the Algorand community with the ease of movement into other layer 1 providers. I am happy to see that investors and the market are supporting our(Glitters Finance’s) initiative.”
- Total Supply – 125,000,000
- Seed – 10,000,000 (8.0%)
- Strategic – 15,000,000 (12.0%)
- Public Sale – 2,500,000 (2.0%)
- Team – 25,000,000 (20.0%)
- Advisors – 2,500,000 (2.0%)
- Liquidity & Incentives – 37,500,000 (30.0%)
- Marketing – 5,000,000 (4.0%)
- Treasury/Reserve – 27,500,000 (22.0%)
The company has plans to audit its code through its layer 1 partner, the Algorand Foundation. Further audits will be done by Glitter Finance via testnet and by employing a notable third party.
About Glitter Finance
Glitter Finance is a tech-based company that develops AI solutions in the DeFi industry to make cross-chain bridges easier for crypto traders across various blockchain networks by cutting off middlemen. The company founded by serial entrepreneur in the DeFi space, David Dobrovitsky and his wife and co-founder, Gelena Dobrovitsky, is aimed at proffering effective and sustainable solutions to the challenges in the DeFi industry, globally.
With its new enterprise-level platform – Glitters Finance – and the deployment of the Algorand technology which Dobrovitsky is very passionate about, the company addresses these challenges in the most innovative way.