Several important updates took place in the decentralized finance space last week.
This article covers in detail ten of these DeFi updates, including strategic partnerships, IDO launches, auctions, funding, and more.
First on our list of DeFi updates is:
1. Fuse Network Launches FuseDollar (fUSD)
Fuse Network has announced the launch of the FuseDollar (fUSD). fUSD is a stablecoin that Fuse says is backed 1 – 1 with USDC. The stablecoin is designed to boost the ecosystem growth of Fuse Network. Providing the Fuse ecosystem with a much-needed simplified medium of exchange for its payment communities.
The launch of the FuseDollar will also create more use cases for the platform as well as optimize transaction time on other Fuse Network platforms like its FuseSwap and other upcoming DeFi projects. FuseDOllar is only the first part of the Fuse Network’s proposed roster of asset-backed stablecoins. The network has plans to launch a FusePound, FuseEuro, etc. in the near future.
It's 100% backed by USDC and is the first in the FuseX suite of stablecoins
Read more on FuseDollar here 👉 https://t.co/l5VebrJJm0
— Fuse (@Fuse_network) April 11, 2021
2. Bridge Mutual Partners With Equalizer Finance
Ethereum-based insurance platform Bridge Mutual (BMI) has revealed details of a strategic partnership with Equalizer Finance (EQZ). The partnership is aimed at providing users on the Equalizer platform with top-notch protection. Bridge Mutual is well-known for its strong coverage for stablecoins, smart contracts, and even crypto exchanges.
Equalizer, on the other hand, is known for its specially designed DeFi flash loans marketplace. This is alongside providing users with a wide choice of token vaults, low fees, cross-chain features, etc. Partnering with Bridge Mutual will make Equalizer able to carry out advanced functions like tokenization platforms, decentralized exchanges, derivatives, prediction markets, etc.
🔥We have another partnership announcement for you🔥
Read about it here: https://t.co/yVeeEkHImL
— Bridge Mutual 🌉 DeFi Risk Coverage (@Bridge_Mutual) April 10, 2021
3. Buy a Tesla Car With Bitcoin in Europe
Belgium-based Tesla dealer Nikola Brussels has announced a strategic partnership with the UTrust platform. Now, Europeans can now pay for a Tesla car with Bitcoin and other cryptocurrencies, thanks to the partnership. The founder of Tesla, Elon Musk, has shown interest in Bitcoin in recent times, and his company recently bought $1.5 billion in Bitcoin.
The collaboration with UTrust is required because of many reasons, namely:
- Borderless payments
- Increased profit margins
- Zero chargebacks
- Fraud protection, etc.
4. Yellow Road Joins the Orion Protocol Ecosystem
Yellow Road has announced a strategic partnership with DeFi platform Orion Protocol. The IDO platform is now one of Orion Protocol’s liquidity partners and will enjoy excellent support throughout its launchpad process. The Yellow Road IDO took place on April 10, 2021, on the decentralized IDO platform Poolz. Interestingly, ROAD tokens also got listed on PancakeSwap.
— YellowRoad (@YellowRoad__) April 5, 2021
5. Forbes Auctions First-Ever NFT on Nifty
Top global media outlet Forbes completed the sale of its NFT “Merchants of the Metaverse” on the Nifty Marketplace on April 8. The NFT was the Forbes’ cover page with the Winklevoss twins (Tyler and Cameron Winklevoss), and the winning bid was $333,333. The entire fund from the sale was donated to charity.
🎊Congratulations to the winner of "Merchants of the Metaverse" presented by @Forbes – the winning bid was $333,333!
— Nifty Gateway (@niftygateway) April 8, 2021
6. KyberSwap Launched Krystal
KyberSwap protocol has developed one of the most impressive DeFi applications in the world aimed at facilitating seamless peer-to-peer (P2P) token swaps for thousands of users. This application is named Krystal.
KyberSwap’s Krystal has been touted as “one platform, all DeFi.” Krystal will optimize user funds, time, and effort by bringing together all forms of DeFi activities in one single application.
7. AllianceBlock Secures Funds From Binance Accelerator Fund
Popular DeFi platform AllianceBlock has secured funding from Binance Smart Chain’s $100 million accelerator fund. The fund was set up to help boost adoption for Binance Smart Chain (BSC). With the fund, AllianceBlock will continue to work on bridging the gap between DeFi and TradFi.
We are pleased to announce we have secured investment from @binance ‘s $100M DeFi accelerator fund.
— AllianceBlock (@allianceblock) April 9, 2021
8. Equalizer Network Partners With Orion Protocol
Equalizer has announced a strategic partnership with leading decentralized liquidity aggregator platform Orion Protocol. Orion Protocol, as a result of the partnership, will help boost liquidity solutions on Equalizer. Equalizer, on the other hand, will function as a liquidity provider. The partnership came about due to the goal shared by both platforms – that of to “build a reliable decentralized finance ecosystem.”
🎉Equalizer Inks Partnership With Orion Protocol
Read the full article in our Medium channel
— Equalizer Finance (@EqualizerFlash) April 8, 2021
9. Fuse Network Bridges to Binance Smart Chain (BSC)
Fuse Network has announced the launch of a two-way bridge to Binance Smart Chain (BSC). The bridge is in a bid to ensure faster and cheaper transactions on the ETH-based payment network. With the bridge, users can easily move an ERC-20 token to and from Binance Smart Chain.
True to our commitment to interoperability, this development complements an existing @ethereum bridge via a friendly user interface 😎
— Fuse (@Fuse_network) April 6, 2021
10. DuckDAO Partners With Gate.io
Last on our list of DeFi updates is Gate.io, a top crypto exchange platform and project launchpad, entering into a strategic partnership with DuckDAO. This partnership represents the first-ever official CEX listing for DuckDAO assets, and so is a step in the right direction for the DuckDAO ecosystem. DuckDaoDime (DDIM) and DLP DUCK token (DUCK) will also be listed on Gate.io, and both tokens will be available for trading against popular stablecoin USDT.
DuckDAO Joins Forces with @gate_io with a Strategic Partnership 🤝https://t.co/T3vCg5NNrO represents an excellent addition to the DuckDAO ecosystem and will join the ranks as a preferred exchange partner.
— DuckDAO Incubator 🐣 (@dao_duck) April 7, 2021
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