Top 10 DeFi Updates | July Week 2

The decentralized finance (DeFi) space continues to garner the attention of crypto enthusiasts worldwide with its strategic DeFi updates.

DeFi updates run the gamut from top-notch partnerships to project launches, and everything in-between. To keep our readers informed, we’ve covered 10 of some of the most important DeFi updates of last week.

1 – PolkaCover and Nsure Partnership

Decentralized new-gen insurance marketplace PolkaCover strategically partnered with crypto-insurance platform Nsure last week. Due to the partnership, Nsure insurance will join the list of insurance products on the PolkaCover decentralized insurance marketplace. Both platforms will work together to provide user-centered insurance packages for users.

Some of the cases covered include:

  • Loss of crypto assets as a result of an exchange hack
  • Stop-loss insurance against volatility in the crypto space
  • Loss of assets due to phishing attack
  • Wallet hacks
  • Project bankruptcy, etc.

2 – SWFT Blockchain AllChain Swap Launch

Ethereum-based decentralized platform SWFT Blockchain announced last week the much-anticipated launch of its cross-chain swap feature dubbed AllChain Swap.

The recently launched feature will facilitate swaps with over 300 cryptocurrencies. These swaps will be made possible across top chains like BSC, Polygon, Ethereum, Polkadot, etc. Interestingly, the AllChain Swap feature requires no prior signup and can be easily, securely, and seamlessly carried out.

3 – Ren Protocol Assets on Smartdex

Ren Protocol assets have joined the list of crypto assets on Polygon-based decentralized exchange Smartdex. The introduction of REN assets to Smartdex will boost faster and more seamless transactions for users.

4 – BridgeMutual Launched Coverage Mining Event

Decentralized risk coverage platform Bridge Mutual recently launched its 1.0 upgrade. In line with this, the platform last week also commenced its coverage mining event.

Bridge Mutual also assigned:

  • 150,000% APY on coverage
  • 300,000% APY on providing liquidity, and
  • 450,000 BMI in team rewards

5 – Saber Launches First DAI BTC Trading Pool on Solana

Solana-based decentralized exchange Saber launched its first-ever Dai trading pool on Solana last week. Interested persons can now trade Dai assets with stablecoins like USDC, USDT, UST, and PAI. Interestingly, anyone can also provide liquidity for the wDAI-USDC pool.

6 – Reef Finance | PARISIQ – Real-World Assets on Reef

Reef Finance announced last week a strategic integration with PARISIQ. According to the official blog post, the integration is in a bid to bring real-world applications to the Reef Finance platform. The partnership is a welcome development and will also provide more related use cases for blockchain technology.

PARISIQ, simply put, will monitor Reef’s on-chain data, subsequently enabling the launch of triggers and actions based on available parameters.

7 – Loopring L2 Liquidity Mining

Loopring last week commenced Round 11 of incentives on its L2 Liquidity Mining. The AMM commenced on July 8, 2021, at midnight and is scheduled to last for 13 days.

8 – The Graph Launched Graph Explorer and Subgraph Studio

Open-sourced software platform The Graph launched two new products last week, namely; Graph Explorer and Subgraph Studio. Now, interested persons can easily curate data in a decentralized and secure manner. Currently, there are eight dApps on the subgraphs.

9 – Harmony Launched Staking Pool on Onsen

Popular blockchain platform Harmony launched an incentivized staking pool (1ONE/WETH) on Onsen. This launch is an important part of Harmony’s partnership with SushiSwap.

10 – OpenOcean Partnership With Polygon

Crypto aggregator platform OpenOcean has partnered with Polygon (formerly Matic Network). In line with the partnership, approximately 100,000 OOE tokens will be made available to encourage trading on Polygon. Plans are also in place to launch cross-chain aggregations soon.

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