With the announcement that EMURGO, Cardano’s commercial partner, has partnered with GSR in Singapore, the company is pushing for more advancements.
More innovations for Cardano
Cardano is constantly developing, as seen by its steady stream of GitHub Commits. Such developer creativity may be strengthened even further with the relationship between EMURGO and GSR.
As it was announced, EMURGO aims to help several Cardano projects by utilising the substantial liquidity base of GSR. In addition, the site will highlight Cardano investment opportunities that GSR and its partners may support.
Cardano uses the Project Catalyst campaign to boost its developer ecosystem. Approximately 192 initiatives were supported by Fund 10, which closed recently, out of the approximately 400,000 votes that the community submitted. This programme might benefit universally from GSR onboarding.
In addition to financial assistance, developers will receive support to increase the interoperability of Cardano’s projects. Cardano is trying to unseat Ethereum in the ongoing, covert battle for supremacy in the developer ecosystem.
The GSR onboarding is perfect for Cardano in a number of ways. Cardano’s decentralised finance (DeFi) ecosystem still has a far smaller Total Value Locked (TVL) despite its advanced developer push. Cardano possesses a TVL of just $277.82 million, compared to Ethereum’s $55 billion, a difference that GSR might help close.
Do VCs hate Cardano?
Within the Cardano community, a contentious discussion centres on how venture capital firms see the blockchain. There are rumours that these wealthy individuals despise Cardano since they usually support unrelated side projects with money from the blockchain.
This GSR alliance challenges that idea to some extent, although the FUD has been attributed to false information regarding the calibre of blockchain initiatives. Despite its low TVL, Cardano is progressing, and the GSR collaboration will likely accelerate this.
