Introduction
What is BrightSide Finance?
BrightSide Finance is a Dapp platform and ecosystem built for Algorand community. We are a DEX, a stable swap and a liquidity DAO purpose-built to lead the way for Algorand’s DeFi expansion.
In which network/blockchain will BrightSide run?
BrightSide will be deployed over the new EVM-based Milkomeda A1, which is an Algorand rollup. Milkomeda is a groundbreaking new protocol that brings EVM capabilities to non-EVM blockchains like Algorand. It is developed by dcSpark — critical infrastructure providers for the Cardano and Solana ecosystems and founded by ex-EMURGO members. EVM-based rollup connected to Algorand is ready to be rolled out. Milkomeda introduces wrapped smart contracts and utilizes wrapped Algo as a base asset for fees and gas costs.
Why Algorand?
Algorand is one of the most technologically advanced layer 1 (L1) solutions on the market. The chain is fast, decentralized, developer friendly, flexible and is on track to be the one of the very few blockchains to solve the Blockchain Trilemma. Algorand has invested the time into cultivating truly innovative teams in the space and has built a protocol that can rapidly outpace its competitors. However, it simply lacks a sufficient dApp ecosystem to warrant the liquidity inflows needed to bring it up to par with its peers. It needs a key dApp which is capable of attracting users and their liquidity - without this Algorand risks being left behind.