The decentralized finance (DeFi) space in recent times has been in the limelight for all the right reasons. This fast-rising space has garnered a lot of attention with its adoption growing to unprecedented heights as more organizations and individuals from all over the globe continue to invest in this nascent space.
To keep our readers abreast of happenings in the crypto space, we have compiled a list of 10 important DeFi updates that took place last week. These top DeFi updates include strategic partnerships, increased earnings, etc.
Deeper Network DPR Staking Live on Uniswap
Deeper Network, popular for its effort in decentralizing the internet via its VPN tech, has announced the launch of its native token (DPR) staking on Uniswap. Users will be able to stake DPR and the USDC stablecoin on Uniswap while earning more DPR tokens as incentives.
Deeper Network is popularly known as a blockchain-based, one-size-fits-all solution to solve internet and VPN issues like censorship, cybersecurity, and autonomous freedom of the internet.
— Deeper Network (@deeper_network) April 29, 2021
2. Unifty Launches NFT Farming Incentives on Avalanche
Gas fees are at an all-time high, with more blockchain-based platforms looking for better ways to solve gas hike concerns and general scalability issues. These issues are behind the Avalanche ecosystem’s recent move into NFTs. Interestingly, NFT multi-chain platform Unifty has expanded its NFT marketplace to the Avalanche blockchain.
Now, Unify users can easily mint NFTs or create NFT farms in just a few minutes. This move is sure to facilitate awareness and the subsequent adoption of the Avalanche NFT space. Avalanche currently supports several crypto NFT projects, such as Crypto Seals, Snowies, Avaxtars, and Avalanche Punks.
.@unifty_io, the first NFT marketplace on Avalanche, is now live. Creators can now mint, buy, sell, and trade NFTs with near-instant finality. To celebrate, Unifty is giving away NFTs to people who stake on the platform. Learn more: https://t.co/jQ3RVF1vsg
— Avalanche (@avalancheavax) April 27, 2021
3. YieldShield Testnet Goes Live
The DeFi farming space received a huge boost as algorithm-based DeFi farming platform YieldShied announced the launch of its testnet. The protocol is currently live and available for general testing by the public. The testnet launch of YieldShield brought to life important features like auto-investing, which is sure to provide users with the highest possible profit from their yield farmings.
YieldShield Testnet is Live!!!
We forked the mainnet, so the app uses real world data, please follow our tutorial and test it: https://t.co/XYEulcRMjW
— YieldShield (@yield_shield) April 24, 2021
4. Alpha Finance Lab Launches Its Alpha Grants Program
Alpha Finance Lab, the popular DeFi lab, last week launched its Alpha Grants Program. The program will involve allocating grants to Alpha builders, development teams, and individuals who have put great efforts into building the decentralized finance (DeFi) space. Also, Alpha community members can submit development proposals and will subsequently receive Alpha tokens worth 5% of the grant when the development is complete. Those who submit proposals are known as Alpha thinkers.
Announcing Alpha Grants Program & the first #Alpha grant 🔥
Alpha Grants Program is one of the key components we're putting in place to create a strong foundation that'll allow us to build & incubate many #Alpha products in a scalable and secure way. 🚀https://t.co/ucojCZX5zj
— Alpha Finance Lab (@AlphaFinanceLab) May 1, 2021
5. Wanchain Launches WAN Faucet for XRP Cross-Chain Transactions
Next on our list of DeFi updates for last week is Wanchain (WAN). The platform is on a mission to be interoperable and also accessible to anyone and everyone. In line with this, Wanchain has launched a WAN/XRP faucet. Anyone who carries out a XRP to Wanchain cross-chain transaction will immediately receive a small number of WAN tokens as rewards.
Also, find out more about how to carry out a XRP Ledger to Wanchain transaction here.
The first one's on us! ☕️
— Wanchain (@wanchain_org) May 1, 2021
6. Polkastarter Reveals Details of Its Liquidity Program on Uniswap
Last week, Polkastarter revealed details about its liquidity program on Uniswap for the month of April. The program saw the distribution of over $480,000 worth of POLS tokens as a reward. Interestingly, the fully decentralized protocol also disclosed plans of extending the liquidity program to PancakeSwap this month.
$480,000+ in rewards distributed to Polkastarter liquidity providers in April! 💸 🤯
And watch out for May… LP rewards are coming to PancakeSwap!
— Polkastarter (@polkastarter) April 30, 2021
7. Plethori | Kylin Network Partnership
Decentralized cross-chain ETF investment platform Plethori strategically partnered with Polkadot data provider Kylin Network. With the partnership, Plethora will receive reliable on-chain and off-chain data from Kylin Network. Kylin, on the other hand, is well-known for its ability to supply reliable and secure data feeds to any blockchain platform. These data feeds are usually well-rounded as compared to data gotten from other oracle platforms. This is because Kylin Network takes into consideration data from non-primary indicators like wallet diversity, querying, KOLs influence, social sentiment, etc.
We are very excited to announce that we have forged a strategic alliance with Polkadot data provider – @Kylin_Network 🔥🔥
— Plethori (@plethori) April 29, 2021
8. Treasureland Partners With BlockCreateArt (BCA)
Multi-chain NFT issuance Treasureland has entered a strategic partnership with BlockCreateArt (BCA). Together, both platforms will work to incorporate the application of crypto art into both the DeFi and NFT space. Treasueland is of the opinion that the NFT sphere is here to stay and that digital art “[…]will be the next wave of movement in the art world.”
We are very excited to announce that #BCA @BlockCreateArt and #Treasureland have entered into a strategic partnership to explore together the application of crypto art in the field of #DeFi and #NFT.#BinanceSmartChain @BinanceChain @BscProjectOrg https://t.co/HfxFUS10Xg
— Treasureland (@TreasurelandNFT) April 28, 2021
9. Enzyme Finance Partners With Unslashed
Enzyme Finance (formerly known as Melon) has strategically partnered with Unslashed. The partnership is aimed at creating a top-notch insurance protocol. Enzyme Finance will provide asset management services while Unslashed will focus on creating insurance portfolios with different risk profiles. Both platforms plan to build the world’s first-ever DeFi insurance protocol.
— Enzyme Finance (@enzymefinance) April 29, 2021
10. DFYN Whitelist Commenced on Polkastarter IDO
Last on our list of DeFi updates is DFYN. The multi-chain DEX platform commenced its whitelist on the fully decentralized protocol Polkastarter IDO last week. The official distribution is slated to take place on May 10, 2021. The price per DFYN token is $0.094, and the total amount of tokens on sale is 3,250,000.
We are excited to announce the beginning of the whitelisting phase 1 for $Dfyn Liquidity Providers and Meme/Sticker creators. 🚀
📢The IDO is scheduled to take place on Polkastarter on May 10, 2021.
— DFyn (@_DFyn) April 29, 2021
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