Top 10 DeFi updates | May Week 3

The decentralized finance (DeFi) space has been in the limelight in recent times for all the right reasons. This fast-rising sphere recorded a number of top-notch DeFi updates that took place in the blockchain space last week.

These top DeFi updates include a strategic partnership between DAO Square and Loopring, Beam 6.0 launch, Synthetic repos launch on Radicle, etc.

  1. Orion Protocol | Binance Smart Chain (BSC) Partnership

Orion Protocol announced a strategic integration with Binance Smart Chain (BSC) to incorporate Binance Bridge into its trading terminal. The partnership will furthermore help to boost interoperability between BSC and Ethereum Chain (ETH).

2. Bondly Finance | BakerySwap Partnership

Popular portable swap platform, Bondly Finance, has strategically partnered with DeFi Automated Market Maker (AMM) platform BakerySwap. Thanks to the partnership, Bondly will now function as a liquidity provider on BakerySwap. Also, the partnership will facilitate the launch of staking and farming, as well as the addition of liquidity to BNB/BONDLY trading pairs. Therefore, providing users with huge APY when they stake BONDLY tokens.

3. ZeroSwap | DFYN Strategic Partnership

Multi-chain decentralized exchange (DEX), ZeroSwap, has entered a strategic partnership DFYN. The partnership will provide an enabling environment for DFYN to expand its multi-chain ecosystem. The partnership will facilitate ZeroSwap interoperability with Polygon (formerly Matic Network). This is because DFYN is an AMM DEX platform operating on Polygon.

4. Crypto.com Lists Cartesi (CTSI) Tokens

Popular fintech platform Crypto.com last week added support for Cartesi (CTSI) tokens. Now, Crypto.com has enabled over 10 million users to purchase CTSI with over 20 fiat currencies and no additional cost. Also, this partnership will open up Cartesi to a large number of users. Therefore, facilitating more use cases for the layer 2 blockchain infrastructure native tokens.

Furthermore, to commemorate the listing, Crypto.com launched a Cartesi CTSI campaign where users can earn rewards for simply trading Cartesi CTSI tokens. A prize pool of $100,000 was set aside and will also be allocated to 500 participants who trade the highest number of CTSI.

5. SWFTBlockchain Celebrates Bitcoin Pizza Day With Giveaway

ETH-based decentralized tech platform SWFTBlockchain celebrated Bitcoin Pizza Day with a giveaway. Also, the blockchain platform gave out 10,000 SWFT in red packets to participants. The entire giveaway was designed on a first-come first-serve basis.

To participate, interested persons only need to Follow, Retweet, and also tag two friends to the tweet announcing the giveaway. Additionally, they were required to join the SWFT Telegram group to redeem their winnings.

6. DAOSquare | Loopring Partnership

Popular Web3 incubator DAOSquare has released details of a strategic partnership with Loopring. The partnership will provide Loopring users with access to an exclusive red packet event. Subsequently, providing discounts to Loopring smart wallet users. The event took place between May 21 and 22, 2021, with a token allocation of 200,000 RICE.

7. Beam Privacy Launch Beam 6.0

Confidential, seamless, and easy-to-use DeFi platform, Beam Privacy, has launched its Beam – Fierce Fermion 6.0. Beam 6.0, according to the official tweet, is “the ultimate in confidential DeFi.” The launch also follows months of hard work and dedication by the entire Beam development team.

8. Synthetix Launch Synthetix Repose on Radicle

ETH-based synthetic asset issuance protocol, Synthetix, has disclosed details of its repos launch on Radicle. Synthetix is looking to find out more about decentralizing its development coordination using Radicle. Though still nascent, Radicle is a decentralized stack allowing developers to coordinate without having to rely on third parties.

9. Alpha Finance Labs Now Support Leveraged Farming

Popular DeFi product ecosystem, Alpha Finance Labs, announced last week that leveraged yield farming was now possible on its platform. According to reports, its AlphaHomoraV2 will support yield farming of ETH-WBTC pool on Uniswap, and also ETH-WBTC pool on Sushiswap.

10. Injective Protocol | Dvision Network – To Improve NFT Prediction Market

Injective protocol has strategically partnered with Non-Fungible Token (NFT) metaverse platform, Dvision. The partnership will help boost the prediction market for NFTs.

Dvision network, on the other hand, will also design an “Injective Protocol Digital Center” at the centre of its metaverse.

Also, join us on Telegram to receive free trading signals.

Find out more about top DeFi updates on the Altcoin Buzz YouTube channel.

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