HAQQ Network teamed up with evmOS to offer a broader range of DeFi functionalities to its users and developers on Wednesday.  

The new partnership enables “cross-chain compatibility” with the Cosmos and Ethereum networks.

evmOS allows “direct interaction between Solidity smart contracts and the Cosmos modules”, enabling seamless communication and unlocking the full potential of DeFi within the HAQQ ecosystem, as per the press release today.

Working with evmOS will enable HAQQ developers keep in line with ethical standards while creating sophisticated smart contracts and decentralised applications without concerns of scalability, performance, and connectivity.

They will now have “direct access to the Inter-Blockchain Communication (IBC) protocol” that ensures interoperability as well.

HAQQ Network is convinced the partnership with evmOS will help developers create “more complex smart contracts” for asset swaps, real-time trading, algorithmic trading strategies, liquid staking, and advanced governance.

The integration will improve the utility of Islamic Coin (ISLM) as well. Holders of the native currency of HAQQ will get to benefit now from yield optimization and algorithmic vaults. According to Andrey Kuznetsov – the cofounder and chief technology officer of HAQQ Network:

This partnership with evmOS is a game-changer for HAQQ. By integrating evmOS, we overcome previous limitations and unlock new possibilities for our developers and users. This collaboration enhances our DeFi functionalities and strengthens our commitment to providing an ethics-first financial ecosystem.  

All in all, the partnership is expected to improve the TVL (total value locked) within the HAQQ ecosystem.

The post HAQQ Network teams up with evmOS to broaden DeFi functionalities appeared first on Invezz

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