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ADA Finance, a pioneering innovative decentralized finance (DeFi) ecosystem, will now start operating as Acta Finance on the Avalanche ecosystem.
ADA Finance has recently disclosed in an announcement that the platform has successfully rebranded to a new name dubbed Acta Finance. Hence, it will be launching a new native token $ACTA, while also developing its own AMM, ActaFi Swap later in 2022.
According to the announcement, the platform’s new name was inspired by the team’s focus on substantive development and community building within the crypto space as the name “Acta” was derived from a Latin phrase ‘Acta non verba’, which literally means ‘deeds not words’.
The CEO & Founder of Acta Finance, Christof Waton, made some comments on the rebrand while explaining the motive behind the new name saying;
“Initially, we only wanted to launch on Cardano, but we couldn’t risk our investors’ funds developing on an early-stage blockchain that is still prone to vulnerabilities and scalability issues. Therefore we started to develop the same ecosystem, within the same project, on Avalanche in parallel. The name ADA Finance limited the interest of people that are anti or neutral towards ADA / Cardano, with our token on Avalanche and utilities on Avalanche, it was better to perform the rebrand to a neutral name, hence Acta Finance.”
Acta’s New AMM and On-chain Affiliate Program
Per the announcement, the rebrand will see the platform featuring new protocols which will make headway for the ActaFi Swap launch.
The first of its newly proposed features is an onchain affiliate program. This program will incentivize the Acta community members to attract new users to the ecosystem, encouraging organic community growth.
The onchain affiliate program has been designed to function together with the onchain staking of the platform’s new token ($ACTA). As such, $ACTA will be available for conventional staking for users, maturing their stake to claim governance rights in the ecosystem’s new decentralized autonomous organization (DAO) when it becomes available.
Nonetheless, ActaFi’s new AMM, ActaFi Swap, has been scheduled to launch later in 2022 and will include several new features which put it at the cutting edge of AMM protocols.
“The ActaFi team are now leveraging this success to position themselves at the forefront of the DeFi space, with the rebrand putting the emphasis firmly on development,” the announcement further unveiled.
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