Top 10 DeFi Updates | July Week 3

The decentralized finance (DeFi) space has continued to grow exponentially, thanks to increasing global interest as well as important new updates.

To keep readers informed, we have listed some of the top DeFi updates of last week. Such DeFi updates include the yield farming program from TrustSwap and CREAM as well as Cardano recently completing its Alonzo upgrade.

1 – TrustSwap and CREAM Finance’s Yield Farming Program

Last week, TrustSwap, in conjunction with CREAM Finance, officially launched yet another yield farming program for SWAP token holders. YIELD is popularly known as a DeFi app specially designed to facilitate easy investment in the decentralized finance space using either crypto or fiat currencies. It is easy to use and requires little or no technological know-how.

The launch of the yield farming program is an exciting opportunity for yield hunters to increase their earnings.

2 – Polkacover Strategically Partners With Cover Protocol

Polkacover is out to protect smart contracts from risks associated with decentralized finance. To achieve this, it strategically partnered with peer-to-peer (P2P) insurance platform Cover Protocol. Cover Protocol allows its users to determine the cost of insurance covers while being completely fungible. Since Polkacover is out to create an all-rounded insurance solution, its partnership with Cover Protocol is a welcome development.

3 – Drops Strategically Partners With Enjin (ENJ)

Drops announced last week a strategic partnership with popular blockchain gaming and NFT platform Enjin (ENJ). The partnership will allow Drop users to borrow and stake tokens while using Enjin-powered NFTs and other in-game assets as collateral.

4 – PolkaFantasy Now on Polygon

The world’s first-ever Japanese-themed NFT marketplace is now live on Polygon (formerly MATIC). Now users on PolkaFantasy can easily trade and stake NFTs at much lower prices. The NFTs are inspired by Japanese gaming culture and anime.

5 – Cardano (ADA) Completes Its Alonzo Upgrade

Cardano recently completed its much-anticipated Alonzo White upgrade. The upgrade is actually an improvement made on Cardano’s first testnet dubbed Alonzo Blue. The upgrade is scheduled to run for about two to four weeks with the final phase of the upgrade scheduled for September 2021.

6 – NFTify Bridge Now Live

Last week, popular e-commerce platform NFTify launched its much-anticipated bridge. NFTify is also known as a one-stop shop for creating an NFT marketplace. The bridge will also facilitate the fast and seamless swap of N1 tokens with different blockchain networks.

7 – Partners With Polygon RSS Feed

Popular fin-tech and crypto credit card issuing platform has entered into a strategic partnership with Polygon’s (formerly MATIC) RSS feed. The partnership will provide users with the latest happenings on the Polygon platform without having to leave

8 – Solana Launches Its Solbridge

Last week, Solana launched a bridge to Polygon dubbed Solbridge. The bridge will help connect DeFi service providers across numerous blockchains. Therefore, making it possible for users to transfer assets from Polygon to Solana.

9 – Drops Integrates Chainlink Price Feeds

Decentralized finance (DeFi) platform Drops has integrated Chainlink decentralized price feeds. The NFT-based platform will now enjoy secure, reliable, and accurate price feeds on its crypto assets.

10 – CoinGecko Partners With Big Time

Last week, CoinGecko strategically partnered with Big Time to launch an NFT giveaway. Ten lucky persons will have the opportunity to win a Big Time-themed NFT during the contest. To participate, interested persons only need to purchase a CoinGecko candy voucher. The giveaway commenced on July 14, 2021, at 00:00 EST and is scheduled to end on July 26, 2021, at 00:00 EST.

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