EMURGO, a founding developer of the Cardano blockchain has announced its latest partnership with GSR. As EMURGO noted, this partnership is designed to help expand the Cardano blockchain further.
Proposed Benefit From GSR’s Liquidity
Per the announcement, EMURGO is optimistic the GSR partnership will boost liquidity in the Cardano ecosystem. GSR is one of the early pioneers of crypto trading and liquidity provisioning pioneers. GSR is the first market maker awarded the Digital Payment Token Service license from the Monetary Authority of Singapore (MAS).
With the partnership, EMURGO will help bridge GSR’s services into the ecosystem. Beyond liquidity provision, the duo will also seek to drive the funding of venture investment opportunities in Cardano.
Besides these, the EMURGO and GSR partnership will also seek to increase user interoperability on Cardano. As one of its cornerstone responsibilities, EMURGO will also drive GSR to enhance education-based campaigns.
It is worth noting that Cardano remains one of the most developed blockchains in the industry. The protocol’s GitHub activity shows active developer activity that surpasses that of Ethereum and other competitors. The GSR partnership will build on this legacy to support the more than 1,350 projects that are building DApps on it.
Cardano In the Crypto Ecosystem
Despite the key role Cardano is playing in the industry, many believe the protocol is not getting as much VC support. Notably, the conversation did not end there as Michael Saylor, MicroStrategy’s founder recently labeled ADA a security alongside other altcoins.
In response, Cardano Founder Charles Hoskinson and the protocol’s advocate Dan Gambardello has fired back in defense of the protocol. Hoskinson has also have a historic spat with members of the Ripple and XRP ecosystem.
While these brawl are on the horizon, it is clearly not stopping the development activities on the protocol. Though the building effect is not reflecting on ADA price yet, the token still ranks in the top 10.
At the time of writing, ADA price comes in at $0.4502, down by 3.75% in the past 24 hours.
