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.
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.
.@SushiSwap has integrated #Chainlink Price Feeds live on #Ethereum and #BSC to secure their new Kashi lending platform. Anyone can leverage Chainlink's extensive collection of time-tested price oracles to quickly launch an isolated Kashi lending market. https://t.co/cggJVFHWYI
— Chainlink – Official Channel (@chainlink) April 22, 2021
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.
📣Another aggregation completes!
— OpenOcean (@OpenOceanGlobal) April 21, 2021
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.
🔥 $VOTX has now arrived 🔥
To earn 7.2% weekly, stake your UNI-V2 LP tokens here:https://t.co/lgBq7hgjfz
— Your Finance Decentralized (@YFDecentralized) April 12, 2021
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.
Users will enjoy a two-way token swap between the IoTeX and Polygon with low-cost transactions and fast finality.
— Polygon (previously Matic) (@0xPolygon) April 22, 2021
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.
— Harmony (@harmonyprotocol) April 7, 2021
7. Crypto.com Ecosystem Grants Programme
Next on our list of top DeFi updates are a number of new initiatives from Crypto.com, the popular decentralized fintech platform. Last week, Crypto.com unveiled its Crypto.org 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.
1/ 🚀 @ICONFiWorld, a digital asset savings platform with over $75 million in AUM and designed to provide simple and intuitive products for all users, will support $ICX & $BAND staking and integration of extensive price oracles provided by Band Protocol.https://t.co/ygkUKdaaei
— Band Protocol (@BandProtocol) April 22, 2021
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.
Congrats @SwftCoin – one of the top cross-chain #cryptocurrency transfer protocols – on joining @iotex_io network as Consensus Delegate – https://t.co/YTjqHkhrpO 🔥@SwftCoin provides highly reliable infra and will support the expansion of IoTeX network 💪 pic.twitter.com/kKYgsxqfHd
— Raullen • IoTeX (@Raullen) April 24, 2021
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.
Stake DAO now supports Cosmos staking!
Start earning additional ATOM rewards and more by delegating to our validator. Current APY 9.93%
— Stake DAO (@StakeDAOHQ) April 20, 2021
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