Coinversation Protocol Partners with Clover Finance

Coinversation Protocol Partners with Clover Finance to Bring ERC20 Assets to Coinversation

Coinversation Clover

Coinversation is excited to announce the partnership with Clover Finance.

Clover is bringing the Ethereum Virtual Machine framework to Substrate-based applications. This capability enables projects to deploy Ethereum dApps on Polkadot, and create trustless two-way pegs between ERC20 and DOT-based assets.

Through this cooperation, Clover will bring more ERC20 assets to Coinversation Protocol and allow users to mint synthetic assets by mortgaging ERC20 assets. At the same time, Coinversation will integrate on Clover’s parachain Sakula for the smart contract testing.

About Coinversation

Coinversation Protocol is the first synthetic asset issuance protocol and decentralised contract trading exchange based on the Polkadot contract chain. It uses the token CTO issued by Coinversation Protocol and Polkadot(DOT) as collateral, and synthesizes any cryptocurrencies or stocks, bonds, gold and any other off-chain assets through smart contracts and oracles. The assets minted by all the users correspond to the liabilities of the entire system, and the proportion of each user’s liabilities has been determined at the time of forging, so that their respective profits can be calculated. Because such a collateral pool model does not require a counterparty, it perfectly solves the problems of liquidity and transaction depth in decentralised exchange(DEX).

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About Clover

Clover is a powerful smart contract platform that enables Ethereum developers and projects to migrate their contracts onto Polkadot. By minimizing the changes required to run existing Solidity smart contracts on the new network, Ethereum projects can simply replicate their dApp and deploy it to Clover using MetaMask, Truffle, Remix, and other familiar tools.

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