February 8th, 2022 - Since launching the Algorand Foundation Grant Program, we have received many submissions, globally, from developers and innovators eager to participate in the expanding Algorand Ecosystem. After a thorough review and selection process, we are delighted to announce EYWA as the latest Grant recipient.
EYWA is a decentralised cross-chain data and liquidity transfer protocol. EYWA Protocol will create a single DeFi ecosystem, cross-chain trading will become convenient and fast; decentralised applications will have access to all blockchain networks of the EYWA ecosystem. The basis of the purpose of EYWA for Algorand is to ensure the transfer of information from one blockchain to another.
EYWA will allow smart contracts and users on Algorand to call smart contracts on external networks and vice versa (users on other networks to call smart contracts on Algorand). Smart contracts will allow you to communicate bilaterally, that is, to have cross-chain interaction. As a result, Algorand will be integrated into communication with other blockchains, which will allow you to transfer assets from one chain to another (for example, stables), bridge in the metapool and swap.
Aler Denisov, CTO EYWA, “On behalf of the EYWA team, I want to express my deep gratitude to the Algorand project for their trust. Having received this grant, we understand that our work was appreciated, and we are on the right track. All in all, both EYWA and Algorand will benefit from this kind of cooperation, and this is the main principle and idea of the EYWA Protocol: synergy and long-term benefit for all parties.”
“The Algorand Foundation strongly believes in the EYWA philosophy that integration, competition, and cooperation between heterogeneous DeFi ecosystems and products will benefit the market and more importantly, our community. This partnership further enhances our DeFi capabilities by delivering solutions that are not only convenient, fast, and secure but also tackles the problems other Layer 1s face such as high fees and congestion in data transmission. EYWA is a decentralised, innovative solution that solves the problem of seamless interaction and fragmentation of liquidity across different blockchains, essentially turning DeFi products into "financial LEGO" for the masses”. - Alan O’Connor, Algorand Foundation Grants Program Project Manager
For more information on EYWA, please visit https://eywa.fi/eng/ or follow them on Twitter. If you are interested in submitting a project for support from the Algorand Foundation Grant program, please apply here.
