Top 10 DeFi Updates | July Week 1

The decentralized finance (DeFi) space is throwing new light on how to carry out transactions. This fast-rising sphere is furthermore revealing several of the shortcomings of the conventional centralized finance space.

Last week was an exceptional one for the decentralized finance (DeFi) space, with top-notch DeFi updates. To keep our readers informed, we have published the details of some of these top DeFi Updates that took place last week.

DeFi Updates like TomoChain strategic partnership with Vietnam to help secure educational credentials and the launch of Katy Perry’s first-ever NFT collections.

1. BakerySwap Adds Support For Five New Artists

Automated market maker (AMM) platform and also the first-ever curated NFT marketplace on BSC, BakerySwap, last week welcomed five new featured artists to its Bakery gallery. This listing will further help to strengthen BakerySwap stance in the NFT space. The listing will furthermore provide NFT enthusiasts with more options with regards to sophisticated NFT pieces.

The recently featured artists on BakerSwap include 27 years old Jacopo Orlandin (1.49Design), Microverse Art, Gaston Duranovich, TheDArtCo, and digital animator Sturec.

2. dForce Joins the Asia DeFi Network (ADN)

Asia’s DeFi space to receive a boost as dForce joins the Asia DeFI Network. According to reports, the partnership will facilitate better business opportunities, improvement of the ecosystem, and more. The partnership will also help catalyze the growth and development of Asia’s DeFi space.

3. Revolut Adds Support For Polkadot’s DOT Token

Polkadot DOT tokens receive yet another boost. This time, popular fintech firm, Revolut, has announced support for DOT tokens. Thanks to the partnership, interested persons can now buy, store, and trade Polkadot native token DOT on the Revolut mobile app.

4. Switcheo Network Launched Demex Futures Trading Competition

Good News! Switcheo recently announced the launch of Ethereum (ETH) and Bitcoin (BTC) quarterly future trading on Demex. In line with this, Demex has also launched a trading competition to commemorate the launch. The trading competition commenced on June 29, 2021, and is scheduled to end on July 19, 2021, at exactly 11:00 AM (UTC). An estimated $120,000 worth of prizes will be distributed to lucky winners.

Interested persons can register here.

5. SWFT Blockchain Adds Support For Polygon

Last week, next-gen cross-chain payment network, SWFT Blockckchain, added supported for popular decentralized protocol Polygon. Thanks to the partnership, interested persons can now swap a myriad of tokens to, and from Polygon. Supported tokens include HECO, ETH, BSC, etc.

6. Katy Perry Launch First-ever NFT Collection on Theta Network

Popular pop star Katy Perry has joined the NFT space. The pop star last week announced the launch of her first-ever NFT collection on the Theta Network. The NFT collection launch, according to reports, is to celebrate her Play residency scheduled to commence in December 2021.

7. Saber | REN Protocol – Launched BTC Stable pool on Solana

Popular open-protocol, Saber, and REN protocol recently entered into a strategic partnership. The partnership is focused on launched the first-ever Bitcoin stable pool on Solana. Prior to this announcement, REN Protocol added support for several tokens on Solana using its RenBridge.

8. TomoChain to Secure Vietnam Educational Credentials

Popular Proof-of-Stake (PoS) blockchain platform, TomoChain, has been employed by the Vietnam Ministry of Education and Training (MOET) to help secure its Educational Credentials on blockchain. To do this, TomoChain has created the National Qualifications Archive (NQA). The NQA is specially designed to store all Vietnam’s certificates and educational credentials ranging from high school to postgraduate degrees. Foreign language and IT certificates will also be uploaded onto the NQA platform.

9. Knit Finance Partners with DIA

Last week, Knit Finance strategically partnered with open-source data platform DIA. The partnership will help provide reliable and transparent price feeds for Knit Finance decentralized, cross-chain wrapper platform. Knit Finance will also enjoy reliable, trustless, and transparent digital/traditional asset prices using various Layer 1, and Layer 2 networks.

10. Terra Launch Community Bounty Program

Terra is making waves in the blockchain and crypto space. In line with this the platform has announced the commencement of its bounty program. The bounty program was launched in collaboration with TerraBitesPod and LearnTerra.

On Fridays, 3 bounty topics will be posted. Winning submissions will also be selected (3 submissions per topic). Winners will also be announced the following Friday. 1st place winners will receive $350, followed by $100 and $50 for the 2nd and 3rd place winners respectively.

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  1. What about Gain Protocol tho? After analyzing their provided documentation, I draw the conclusion that this is a very interesting project. Small but professional team with a great vision. I highly recommend them.


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