Top 10 DeFi Updates | June Week 1

Decentralized Finance (DeFi) is making waves all over the globe. This fast-rising aspect of the blockchain and cryptocurrency space have in recent time experienced an unprecedented surge in awareness and adoption.

To keep our readers informed, we have compiled 10 of the top DeFi updates that took place last week. Top DeFi updates include the ongoing MakersPlace NFT Pixel Project and the Mozik double IDO launch on Ignition and BSCPad.

1. Mozik Double IDO on Ignition and BSCPad

Blockchain-based music platform Mozik (MOZ) recently completed a double Initial DEX Offering (IDO). The double IDO took place on Binance Smart Chain Launchpad (BSCPad) and Ignition Launchpad. The IDO on BSCPad took place on June 6, 2021, while the IDO launch on Ignition is scheduled for today – June 7, 2021.

2. DAFI Protocol Collaborates with ZKSwap

DAFI Protocol has entered a strategic partnership with AMM Layer 2, ZK-Rollup DEX platform, ZKSwap. The partnership is aimed at improving the ZKSwap staking reward mechanism, while also creating more use cases for ZKS tokens.

3. Enjin Sustainability Goals

Popular blockchain-based gaming platform Enjin (ENJ) has disclosed plans to facilitate carbon-neutral NFTs by 2030. Just last week, crypto fintech platform also disclosed plans to become carbon negative within 18 months in a three-step process. Enjin seeks to bring balance to the world of finance and environmental sustainability via their five-stage process.

  • First: collaborate with JumpNet and Efinity to decarbonize newly-minted tokens.
  • Second: completely tokenize the physical economy.
  • Third: decarbonize already existing tokens.
  • Fourth: upgrade to carbon-neutral nodes.
  • Fifth: incentivize carbon reduction technologies.

4. Nervos Launch Cross-Chain Bridge With IOHK

Nervos recently launched a new product with IOHK. The recently launched product is a cross-chain bridge linking Nervos to the Cardano blockchain. The bridge will make it possible for network participants on both platforms to conveniently exchange native tokens. Notably, network users on both platforms will also be able to create their own tokens on both blockchains.

This recently launched cross-chain bridge is a major milestone for the entire Nervos ecosystem as it is the first cross-chain bridge to connect with Nervos besides the Ethereum bridge.

5. NFTify to Host Fantasy Sports NFT Store

The first-ever fantasy sport launch by Rage.Fan is around the corner. The fantasy sport launch is expected to be hosted by NFTify and its AI search engine. Rage.Fan will be able to issue and sell NFTs as the result of the hosting partnership with NFTify. Furthermore, players on Rage.Fan will also be able to earn rewards via NFTify.

6. DAFI Protocol Incorporates Chainlink Price Feeds

DAFI Protocol last week strategically partnered with Chainlink in a bid to gain access to Chainlink’s reliable price feeds for its dTokens. This, in essence, will help DAFI mitigate the issue of hyperinflation.; therefore ensuring a more sustainable ecosystem for DAFI.

7. LABS Group Discloses Plans to Launch Introduces First-ever Peer-Owned NFT Resort

Among this weeks DeFi updates, the NFT space gears up for yet another boost as LABS Group discloses its plan to launch the world’s first-ever peer-owned NFT resort. This innovative move will combine the NFT space with real estate. To provide technical directives, LABS Group has employed the services of Enjin and Refinable.

8. Polkastarter Now Official Partner of Moralis 2021 Hackathon

Popular IDO launchpad Polkastarter is now an official partner of the Moralis 2021 hackathon. The hackathon will provide an enabling environment for developers to showcase their Web3 dApps while also competing for a prize pool of $50,000.

9. MakersPlace NFT Pixel Project

Digital Artwork and NFT platform, MakersPlace, is currently carrying out bidding for the “NFT Pixel Project.” The community-created project involves the coming together of about 1,000 artists from 30 countries to fill a canvas of 1-million pixels with digital art. The NFT created is currently been auctioned. At the time of writing, bidding had reached $4300.

Importantly, a portion of the proceeds from the sale will be donated to the Alzheimer’s Association, and the Pangea Seed Foundation.

10. Ren Protocol RenVM Integrates Avalanche

Avalanche is now the third chain going live from Blockchain Blitz. Ren Protocol RenVM has also strategically partnered with Avalanche making it possible for interested persons to mint and burn assets on Avalanche. This, in turn, makes it possible for deposits and withdrawals to be carried out without having to go through Ethereum.

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