How Covalent could impact such an area of DeFi (lending, AMMs, stablecoins)

Covalent status today

Today Covalent is in the testing phase. A large-scale connection is not yet planned, but today the platform got a strong interest of a number of large projects. They provided Covalent with testing opportunities, and the innovation API partner team consists of Ethereum, Polygon (Matic), Avalanche, Binance, Fantom, Moonbeam, and RSK. The list is expected to expand qualitatively and quantitatively in the near future.

Covalent Opportunities and Value

Developers understand the importance of data security in such an ambitious project. In parallel, they are developing security standards that will help avoid data loss or unauthorized manipulation with them in a multi-chain mode of use.

Conclusion

What do we end up with? All of the above means that Covalent is able to make DeFi projects faster and more transparent. The implementation of the project will make it possible to correct a number of shortcomings of modern cryptocurrencies and bring decentralized finance to a fundamentally new level of development and public perception. That is, the time when DeFi will become the generally accepted standard in the financial sector is approaching, and projects such as Covalent are actively bringing this moment closer.

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