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Midnight is Collaborating with SundaeSwap, NMKR, and FluidTokens to Enhance Security, Compliance and Data Protection for DeFi Applications on the network
London, UK - 12th December, 2024 — Midnight, a new blockchain and first partner chain to Cardano, welcomes decentralized exchange SundaeSwap, NFT infrastructure provider NMKR, and NFT-based lending platform FluidTokens as new ecosystem partners.
These teams will lay the groundwork for a comprehensive DeFi ecosystem on Midnight that prioritizes data protection, a seamless user experience, and advanced compliance-supporting capabilities, reinforcing Midnight’s commitment to secure innovation across the DeFi space.Midnight zero-knowledge smart contracts enable programmable data protection, giving developers the flexibility to decide which information to publish on-chain versus which to protect. The network’s innovative design also allows for the selective disclosure of sensitive data, meaning users or applications can opt to share specific data as needed while maintaining robust data protection.
“DeFi and Web3 are only as strong as the protections they offer their users,” said Eran Barak, CEO of Midnight. “By working with forward-thinking platforms like SundaeSwap, NMKR, and FluidTokens, we’re creating an ecosystem where security and usability work hand in hand. These collaborations underscore our commitment to an open, user-centric DeFi ecosystem, making Midnight’s data protection tools essential for other platforms and inspiring a future where DeFi applications not only protect user data but also adhere to compliance standards, building trust in the process. Together, we are building a collaborative environment where innovative DeFi applications can finally reach widespread adoption.”Midnight is working with SundaeLabs to expand the Sundae Protocol onto the network to take advantage of Midnight’s data protection capabilities to bring new levels of security to SundaeLabs' users.
“We’re excited to be working with the brilliant minds on the Midnight team,” said Pi Lanningham, Chief Technology Officer at Sundae Labs. “By working together, we aim to send a clear signal to the community about our commitment to privacy and confidentiality in the DeFi space and evolving the capabilities and features offered by SundaeSwap.”
Midnight’s collaboration with NMKR will expand the network’s DeFi use cases to include secure NFT functionalities, benefiting users by providing secure digital asset management. Integrating NMKR’s capabilities with Midnight’s data protection tools will allow developers to incorporate controls for secure data handling in NFT applications. By leveraging Midnight’s selective disclosure features, developers can enhance user privacy, enabling users to share only the necessary information while ensuring compliance with data protection standards. This user-centered approach ensures that both user and asset information are securely managed, building confidence in the NFT ecosystem.
Kristian Portz, Co-Founder of NMKR, added, “Midnight’s approach to data protection aligns perfectly with our vision of creating safe, user-centered NFT solutions. Together, we’re paving the way for a more responsible and trusted DeFi ecosystem where security is prioritized without sacrificing accessibility.”
The collaboration with FluidTokens, meanwhile, further broadens the Midnight DeFi ecosystem by incorporating asset-backed lending capabilities. This will see FluidTokens leverage Midnight’s data protection features to build secure lending applications on the network.
Matteo Coppola, Chief Executive Officer at FluidTokens, said, “FluidTokens is exploring ways to enable users and institutions to lend and borrow compliantly from anywhere in the world using Midnight's programmable data protection capabilities. Together, we aim to make decentralised finance more easily accessible for the ecosystem.”
These ecosystem partnerships position Midnight as a robust and versatile platform for DeFi in the run-up to its much-anticipated mainnet launch in 2025. Midnight’s programmable data protection and compliance-supporting tools, combined with the unique offerings of its ecosystem, will bring capabilities that enable wider adoption of DeFi.Relevant updates on the Midnight ecosystem and other milestones will be shared on Midnight’s Telegram. Visit midnight.network to learn more.
