Clover Finance is a blockchain infrastructure provider, aiming to enhance the interoperability between the Polkadot and Ethereum networks. It is designed to facilitate cross-chain decentralised finance (DeFi) interactions, enabling user-friendly Web3 products and services.
Clover Finance operates as a multi-chain blockchain system powered by Polkadot's Substrate framework. It employs a Nominated Proof-of-Stake (NPoS) consensus mechanism where Validators and Nominators collaborate to secure and maintain the network. The system supports EVM-compatible smart contracts, making it straightforward to interact and deploy applications compatible with Ethereum.
The potential use cases for Clover Finance include asset transfers across different blockchain networks, participating in DeFi protocols, creating cross-chain decentralised applications (DApps), staking, paying transaction fees, and voting on network governance. It has real-world applications in developing wallets that connect major blockchains and supporting NFTs.
Clover Finance was founded in May 2020 and has since evolved by leveraging the Polkadot Substrate framework to build a sophisticated multi-chain system. It allows for seamless cross-chain interaction and has developed features like an "always-on" wallet and the eApp layer for DApps evolution. Its community and presence have steadily grown, supported by strategic partnerships and listings on cryptocurrency exchanges.