Leading Plutus DeFi Protocols Join Forces to Establish the Cardano DeFi Alliance

In support of the emerging Cardano DeFi ecosystem, several leading Plutus and Cardano development teams have begun collaborating to create more scalable, secure, and interoperable DeFi protocols. The Cardano DeFi Alliance (“CDA”) has formed to help shape industry standards for DeFi design patterns, building open source Plutus development libraries, and to support each other in development and organization.

Several leading Cardano DeFi development teams, infrastructure providers and Plutus software development organizations have joined together to recently launch the Cardano DeFi Alliance (​“CDA”​). The primary mission of CDA is to provide collaboration among leading DeFi protocols, providing open source libraries, crafting best practices, and innovating within the Cardano DeFi ecosystem.

CDA members will proactively collaborate to address a number of critical points, in particular:

  • Providing a channel of transparency and communication to the Cardano DeFi community of key issues and roadmaps.
  • Shaping protocol best practices related to smart contract design patterns, protocol security, and off-chain infrastructure. 
  • Providing Plutus developers insights from internal CDA members as well as the community.

Cardano delivers significant innovations, unique strengths, and vastly-improved optimization over other blockchains currently being used by DeFi protocols. The CDA has been formed to harness these core attributes to provide a unique and industry-leading DeFi ecosystem on Cardano.

The CDA has adopted an open framework and encourages new members who are developing DeFi protocols on Cardano and are interested in helping drive the shared mission forward to consider joining.