Top 10 DeFi Updates | August Week 1

Last week was an amazing week for the entire decentralized finance (DeFi) space. Several important and innovative DeFi updates took place in the space last week.

To keep our readers informed we have compiled ten of the top DeFi updates from last week. These updates range from strategic partnerships to product launches, etc.

Alpha Finance Labs strategic partnership with Eden Network, upcoming Spiderman NFT, and Polkacover launching on the Orion Terminal are some of last week’s top DeFi updates.

1. Kephi Gallery Now on Binance Chain

Kephi Gallery native token Kephi (KPHI) is now on Binance Smart Chain (BSC). An IDO was carried out on BSCLaunch on August 5, 2021 at 14:00 (UTC). During the IDO, an estimated 2,500,000 KPHI tokens will be put up for sale at $0.06 each.

Also, the IDO will be followed by a vesting period for all purchased tokens. Interestingly, plans are also in place to launch KPHI tokens on both Pancakeswap and on Kardiachain, with both having the same listing price.

2. Alpha Finance Labs Partners With Eden Network

Alpha Finance Labs alongside Band Protocol will be joining Ethereum-based new priority transaction network Eden Network. Both Alpha Finance and Band Protocol will share a single priority slot and will also function as one of the important launch partner for Eden Network.

Eden Network will create new incentives for block producers on The ETH chain. It will also help protect ETH users from other ETH users vying to remove MEV post EIP-1559 launch.

3. Anchor Protocol Strategic Partnership With Lido Finance

Last week, Anchor protocol entered a strategic partnership with Lido Finance. The partnership between both parties is aimed at facilitating the launch of wrapped stETH on Terra known as bETH or bonded Ethereum.

4. Switcheo Network And Keplr Wallet Integration

Layer 2 cross-chain trading protocol Switcheo Network has partnered with Keplr waller. The integration is aimed at facilitating a more secure and seamless interaction with Switcheo TradeHub.

Interestingly, Switcheo tradehub will be included as a supported network on Keplr. This means that Keplr will now support Inter-blockchain communication (IBC) between the TradeHub and other Cosmos-based protocols.

5. Solv Vouchers Now on Binance Smart Chain (BSC)

Popular DeFi platform Solv Protocol has launched its Solv vouchers on Binance Smart Chain (BSC) for its Seahorse initiative. This is a major update for the entire Solv protocol as different crypto assets are now supported on Solv.

Notably, Solv vouchers first officially went live on Ethereum on June 17, 2021. Since then, other important projects have joined Solv’s Seahorse initiative. Some of these projects include DODO, NAOS Finance, Parsiq, Saffron Finance, Bounce, Ankr, etc.

6. Polkacover Now on Orion Terminal

First-ever decentralized insurance marketplace for the DeFi space Polkacover is now officially live on Orion Terminal. Now, interested persons can easily trade CVR tokens as well as provide liquidity on Orion Terminal.

Notably, the supported trading pair is the CVR/USDT. Thanks to the partnership, users will also have access to liquidity from various sources both centralized and decentralized.

7. Real Fevr Partners With Polygon

Popular DeFi platform Polygon (formerly Matic) recently announced a strategic partnership with Real Fevr. Together, both platforms will look more into trying to reduce the cost of minting NFTs. Also, the partnership will provide users with better support and an improved user experience.

8. CryptoPunks NFT Still in Demand

Launched in 2017, CryptoPunks is a collection of nine pixelated digital images of Punks.

Last week, one of the CryptoPunks NFT was sold for $3.7 million worth of ETH. The sale has furthermore taken the demands of CryptoPunks to new heights.

9. OpenSea NFT Marketplace Records New Trading Volume

Last week, popular NFT marketplace OpenSea record a new trading volume. The NFT marketplace recorded almost $100 million worth of transactions last weekend. Its average daily trading volume is more than its entire transaction volume for last year.

Last week, its trading volume was at an all-time high of about $208 million.

10. Marvel And VeVe to Launch Spiderman NFTs

The NFT space is set to receive yet another boost as Marvel in conjunction with VeVe has revealed plans to launch Spiderman NFTs.

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