Glitter Finance and Penguin Finance Collaborate to Obtain Protocol-Owned Liquidity for Bridged Assets Through the Utilization of Bonding
Welcome to the Penguin Bond Family, Glitter!
We are excited to announce our collaboration with Glitter. Glitter will be leveraging Penguin Finance’s bond service to further grow liquidity for bridged assets.
Glitter Finance is a brand-changing innovator that aims to bring everyday users into the world of cryptocurrency seamlessly. By providing user-friendly and streamlined architecture, Glitter aims to remove technical and psychological barriers that may prevent people from investing and participating in the crypto market.
As an interoperability solution, Glitter serves as a layer-zero for DeFi protocols across multiple blockchain networks. It connects disparate ecosystems and simplifies the usage and investment process across different blockchain networks.
Currently, Glitter has successfully bridged the Algorand and Solana blockchain networks bidirectionally with over 99% efficiency, and is looking to expand its capabilities to other networks. By allowing for easy integration with supported smart contracts, protocols, decentralized exchanges (DEX), and wallets, Glitter enables liquidity movement across various blockchain networks.
In working with the Penguin Finance, bonding for bridged assets will offer long-term supporters of the protocol the opportunity to use LPs to purchase tokens at a discount, helping to deepen liquidity while minimizing the risk of Impermanent Losses. This will help Glitter to gain more controllable liquidity while providing a bonding incentive system to supporters of the protocol.
To start our collab, we will launch $XGLI / $XALGO bonding on Thursday, Dec 15th at 3pm UTC at https://app.png.fi/bond
Join us for an exciting AMA with the founder of GlitterFinance, @dobrovitsky, on Discord one hour before the launch of $XGLI and $XALGO. Get all your questions answered, including 3 PenguinArt NFTs and 100 $USDC Giveaway.
About Glitter Finance
Glitter Finance is an interoperability solution that serves as a layer-zero for DeFi protocols across multiple blockchain networks. It thrives by linking disparate ecosystems and simplifying the usage and investment process across chains. Glitter bridge powers cross-chain transfer of assets between Non-EVM and EVM supported networks bidirectionally, the first being the Algorand and Solana blockchain networks.
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About Penguin Finance:
Penguin is a Liquidity-as-a-Service Platform that offers comprehensive treasury management solutions, including swap, bonding, and staking services. Protocols can utilize Penguin’s bonding service to acquire liquidity rather than renting it, which can help them to remain sustainable in the long run. By implementing token vesting, protocols can align their incentives and communities with their long-term goals, fostering long-term involvement instead of short-term participation.