Top 10 DeFi Updates 4/19 - 4/25

Decentralized finance (DeFi) has taken center stage in the blockchain and crypto space in recent times. This fast-rising sphere has attracted investors from all over the globe with more DeFi projects being birthed and more use cases coming to light.

In line with this, we have published ten of the DeFi updates that took place in the crypto and blockchain space last week. These DeFi updates include project launches, IDO events, strategic partnerships, etc.

  1. CoinGecko Unveils ‘NFT Spotlight’ Platform

Popular data aggregator platform CoinGecko has announced the unveiling of its “NFT Spotlight” platform. The platform is specially designed to help promote crypto artists as well as increase art awareness to the fast-growing crypto space.

The platform, in simple terms, will help link artists and content creators with crypto communities all over the globe. Subsequently, providing them with a wider audience range. CoinGecko, according to reports, has plans to help artists promote their art, as well as giving everyday individuals the opportunity to get their hands on art NFTs.

2. SushiSwap Integrates Chainlink Price Feeds

Ethereum-based, community-operated crypto-exchange SushiSwap has announced a strategic integration of Chainlink’s reliable price feeds. The partnership is aimed at helping to secure its recently launched lending and margin trading markets platform – Kashi. Chainlink will provide the platform with top-notch, reliable, and secured price feeds.

3. OpenOcean Global (OOE) and Ellipsis Finance Partnership

Popular CEX and DEX platform OpenOcean recently partnered with Ellipsis Finance. The partnership will make it possible for stablecoin swapping to take place. Apart from facilitating stablecoin swapping, the partnership will also provide users with reduced slippage, better pricing, and lower transaction charges. OpenOcean, on the other hand, is also well-known for connecting both CeFi and DeFi platforms.

4. YFD Unveils New Governance Model

Your Finance Decentralized (YFD) is now the first-ever platform to operate a community-governed DeFi ecosystem. According to report, the entire YFD ecosystem will be controlled solely by VOTX token holders. Token holders are eligible to take part in voting activities.

Apart from earning voting rights, token holders will also earn APY as high as 208% on their stakings and 375% on their farming activities. Interestingly, YFD will also be listed on popular exchange Uniswap and DFI.Swap. The initial listing price on Uniswap was set at $2 per VOTX token.

5. IoTeX Partnership With Polygon

Internet of Trusted Things platform IoTeX has strategically partnered with Polygon, formerly known as Matic Network. The partnership is aimed at creating a cross-chain bridge for real-world NFTs (IoTeX NFTs) to be traded on Polygon’s peer-to-peer (P2P) NFT marketplace OpenSea.

6. Harmony (ONE) | SushiSwap Partnership Announcement

Harmony (ONE) last week announced a strategic partnership with ETH-based decentralized exchange SushiSwap. The partnership will provide Harmony community members with access to yet another project in the fast-growing DeFi space. Thanks to the partnership, Harmony users will enjoy the benefits of SushiSwap without the scalability issues associated with the Ethereum chain.

7. Ecosystem Grants Programme

Next on our list of top DeFi updates are a number of new initiatives from, the popular decentralized fintech platform. Last week, unveiled its chain’s upgrades and new features. Among these updates is its Ecosystem Grant Programme, which is funding a number of initiatives.

The initiatives being funded include the simple code bounty program, bug bounty program, awesome projects reward program, and ecosystem grants program. You can read the full details of these programs and how to apply to them here.

8. ICONFi and Band Protocol Partnership

Digital assets platform ICONFi, also popularly known for its more than $75 million AUM, strategically partnered with Band Protocol last week. The partnership is aimed at integrating Band Protocol’s reliable price oracles and staking feature with ICONFi. The partnership also resulted in the ICX/BAND token staking pair. ICONFi also helps simplify the entire DeFi interaction for users.

9. SWFT Blockchain Partners With IoTeX

Popular Internet of Trusted Things platform IoTeX strategically partnered with SWFT blockchain. SwftCoin will be joining the IoTex network as a consensus delegate. In line with this, it will also help facilitate the growth and development of the entire IoTeX ecosystem.

10. Cosmos (ATOM) Staking Now on Stake DAO

Interested persons can now stake ATOM tokens on StakeDAO. In line with this, stakers will earn staking rewards as high as 9.93% APY while also helping to secure the Cosmos ecosystem.

Cosmos is well-known for its parallel, independent blockchains usually powered by a Byzantine Fault Tolerant consensus algorithm.

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