Top 10 DeFi Updates | July Week 4

The NFT and DeFi space has continued to gain attention, and support from its increasing numbers of enthusiasts worldwide.

Details of top DeFi updates like Cosmos integration with Band Protocol and Idle Finance partnership with Biconomy. To keep our readers informed we have published some of last week’s top DeFi updates.

1. Avalanche Mainnet Integrates Chainlink Decentralized Price Feeds

Last week, Chainlink’s reliable and decentralized price feeds went live on Avalanche. This means that the reliable price feeds will be available on Avalanche’s mainnet. Therefore, providing developers on Avalanche with top-notch features to help them build cost-efficient DeFi applications.

Interestingly, the partnership was made possible by Chainlink Community Grant won by Avalanche validator, and development workshop named Protofire.

2. ONTO Wallet and SWFT Blockchain Swap Event

ONTO Wallet recently entered into a strategic partnership with SWFT blockchain. The partnership is aimed at improving interoperability across Ethereum, Polygon (formerly Matic), HECO, and Binance Smart Chain (BSC) for SWFT users.

To celebrate the partnership, 400,000 SWFTC tokens have been set aside for a giveaway. The tokens will be distributed on a first come first serve basis. This means that the first 160 persons to complete a task will receive 2,500 SWFTC each.

3. TeaSwap Finance | Chainlink VRF

Fast-rising gamified farming platform TeaSwap has announced a strategic integration with Chainlink VRF. According to reports, the partnership will help TeaSwap randomly, and securely pick winners in its draws on Binance Chain.

Chainlink is well-known for its reliable, secure, and bias-free oracles. Its VRF is based on off-chain computation, therefore ensuring top-notch randomness.

4. Solv Protocol Integrates The Graph

DEFI platform Solv protocol last week entered into a strategic partnership with the Graph. The partnership will provide Solv protocol with the ability to facilitate seamless navigation for Solv vouchers. Solv vouchers also facilitate buying, selling, creating, and managing their project.

5. Harvest Finance Now on Polygon

Harvest Finance is officially now on Polygon (formerly Matic Network). Alongside launching on Polygon, the automatic yield farming protocol will also be introducing three (3) vaults across Quickswap, and Sushiswap.

6. Cosmos Integrates Band Protocol

Popular decentralized platform Cosmos announced a strategic integration of Band Protocol. The integration was done via StarportHQ and will further facilitate the realization of Cosmos dream of being the Internet of Blockchain.

The integration will boost interoperability between the blockchain present in the Cosmos ecosystem.

7. Saber | Ren Protocol | Badger DAO to Bring ibBTC to Solana

Saber in conjunction with Ren Protocol and Badger DAO announced the introduction of interest-bearing Bitcoin (ibBTC) to Solana. Interested persons will be able to trade ibBTC against other supported tokenized BTC on Saber.

8. Idle Finance Integrates Biconomy

Idle Finance users can now enjoy fast, secure, and hitch-free deposits due to the recent partnership with Biconomy. Users can also now make gas payments in the crypto asset they want to deposit instead of just Ethereum (ETH). Idle Finance is also making a name for itself as one of the top yield aggregators in the DeFi space.

9. Coin98 Wallet Partners With Binance

Coin98 Wallet has partnered with Binance to enable it to carry out its C98 token sale. The sale also commenced on July 16, 2021. Coin98 Wallet also allocated 50,000,000 C98 tokens (an estimated 5% of its total token supply) to be distributed. Notably, the token sale ended last week on July 23, 2021.

10. Plasma.Finance Now on Polygon

ETH-based platform Plasma.Finance is now on Polygon network. The partnership will help Plasma.Finance extends its services like its Initial DEX Offering (IDO) to more exchanges. Also, its DEX token offering platform, PlasmaSwap, makes it possible for firms to launch tokens on several blockchains.

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