Home Cryptocurrency News Top 10 DeFi Updates | July Week 5

Top 10 DeFi Updates | July Week 5

Crypto.com commenced its NFT Trading Race and Parsiq strategically partnered with Parastate last week.

Top 10 DeFi Updates | July Week 5

The blockchain, DeFi, NFT, and cryptocurrency space continues to make waves all around the globe.

To keep our readers informed of happenings in this fast-rising sphere, we have compiled 10 of the top DeFi updates that took place last week in the blockchain space. DeFi updates like Harvest Finance entering into a strategic partnership with Polygon (formerly Matic) and Dvision joining the Enjin ecosystem.

1 – SIREN Protocol Launches KNC Calls on Tradewind

SIREN, the popular decentralized platform for crypto trading, last week added call options for Kyber Network’s KNC on its Tradewind. Interestingly, Kyber Network is the second project to go live on SIREN’s Tradewind. The partnership will make it easy for Kyber enthusiasts to interact with KNC tokens using DeFi derivatives. Also, KNC token holders will be able to invest their tokens in a token pool as LPs to earn passive option-writing yield for their investments.

2 – Harvest Finance | Polygon Network

Last week, Harvest Finance entered into a strategic partnership with popular decentralized platform Polygon (formerly known as Matic). The partnership will help the asset management platform reduce its fees to their barest minimum while increasing possible yield. Now, Harvest Finance users can participate in yield farming at reduced charges.

3 – WePiggy Partners With PARSIQ

Next-Gen blockchain analytics platform PARSIQ has strategically partnered with WePiggy. The cross-chain lending platform will also enjoy security and reliability due to PARSIQ top-notch monitoring technology.

Interestingly, WePiggy currently supports Ethereum, Binance Smart Chain (BSC), and Polygon.

4 – Dvision Joins the Enjin (ENJ) Ecosystem

Last week, Dvision joined popular NFT and blockchain gaming platform Enjin’s (ENJ) ecosystem. The partnership was aimed at providing Dvision with the ability to operate its metaverse across five different blockchains, Enjin inclusive.

5 – Stake DAO | Alchemy – Improving Interoperability in the DeFi Space

Stake DAO has strategically partnered with Alchemy to consolidate the highly complex world of decentralized finance (DeFi). The partnership will furthermore boost interoperability in the fast-rising DeFi space by building a single user-friendly interface for all aspects of the DeFi space.

Built on the Ethereum chain, Stake DAO is a non-custodial DeFi platform which was launched early this year. The platform is focused on becoming a one-stop-shop for everything DeFi. Also, its partnership with Alchemy is a step in the right direction to achieving this goal.

6 – SWFT Blockchain Partners With OKEx

Last week, SWFT Blockchain also partnered with OKEx Chain. Thanks to the partnership, users can easily swap over 200 supported crypto tokens on the OKEx platform. The decentralized, borderless blockchain currently supports popular crypto like ETH, MATIC, LINK, AAVE, UNI, SAFEMOON, BNB, etc. and popular stablecoins like USDT, USDC, BUSD, and DAI.

7 – Crypto.com Launched First-Ever NFT Trading Race

Popular crypto fintech and card-issuing platform Crypto.com also launched its first-ever NFT trading race last week. In line with this, Crypto.com has allocated $15,000 worth of CRO tokens as a reward for participants in the NFT trading race. Previously, the crypto fintech platform launched its NFT platform, which was closely followed by NFTs of Formula One, sports leagues, etc.

The first-place winner will get CRO tokens worth $2,000. The trading competition commenced on July 30, 2021, and will end on August 13, 2021.

8 – PARSIQ Partnership With ParaState

Next-gen blockchain analytics platform PARSIQ has strategically partnered with ParaState. The partnership will provide ParaState’s multi-chain smart ecosystem with PARSIQ smart monitoring tech.

Interestingly, PARSIQ will also take part in a ParaState private fundraising event. ParaState has also been described by enthusiasts as “Ethereum on Steriods.”

9 – Demodyfi Announced the Commencement of Its Staking and Liquidity Pool

Last week, popular AMM platform Demodyfi launched its staking and liquidity pool with top-notch rewards. Interested persons can now stake DMOD tokens in a bid to earn DMOD tokens on either Binance Smart Chain (BSC) and Ethereum (ETH). In line with this, Demodyfi has set aside 3,915,000 DMOD tokens as rewards.

10 – Paid Network Partners With IOI Game

Last in our list of DeFi updates, we have popular gaming and NFT ecosystem IOI Game strategically partnering with blockchain tech platform Paid Network. To celebrate the launch, both parties launched an IOI giveaway.

Interested persons needed to register for the giveaway before August 1, 2021, and winners will win NFT bundles worth $1000 IOI.

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