DeFi updates october week 1

Are you interested in getting involved in the decentralized finance space? Do you want to know more DeFi updates happening in the space? 

In this article, you will discover the top DeFi updates of the first week of October.

1. Cardano Launches New Stablecoin on Coti Network

The Cardano summit has covered many strategic improvements. During the event, Charles Hoskinson also disclosed plans to launch its new stablecoin, known as Djed.

Therefore, according to the announcement, the COTI Network will be the first to list Djed.

2. dForce | DODO – Launched Dual Liquidity Mining

dForec has strategically partnered with DODO. The goal is to create a liquidity mining platform on Arbitrum.

As a result, according to the announcement, the mining initiative started on September 29th, 2021.

3. Alpha Finance Labs Launch AlphaX

Alpha Finance just introduced its AlphaX incentive program called “Lightning in a bottle.” The incentive program is directed at AlphaWolves community members. This will also allow them to participate in the AlphaX testnet. Participants will also earn incentives.

Above all, according to the announcement, the incentive program is scheduled to take place from October 1 to October 15, 2021.

4. Umbrella Mainnet on Ethereum

Last week, Umbrella Network was officially launched on Ethereum. In addition to this, $UMB smart contracts can also now be deployed on the Ethereum blockchain. Also, ETH dapps will have access to $UMB oracles.

5. Launches DYDX SuperCharger has announced the launch of its DYDX supercharger. Consequently, according to the announcement, USD 1 million has been set aside as a reward allocation. Also, participants have the opportunity to earn APYs as high as 80%.

6. WOWswap Launched NFT Leveraged Trading on Ethereum

You can now trade your NFTs with 5x leverage on WOWswap. This platform has also officially launched its NFT trading platform on Ethereum. Therefore, users will also have the opportunity to use USDC or ETH to buy NFTs they cannot truly afford.

According to the announcement, the NFT trading platform will also be available for six NFT index tokens.

7. DeFi Warrior Integrates Chainlink 

DeFi Warrior has also announced a strategic integration with Chainlink, the popular oracle platform. The game will also now have access to Chainlink’s secure and accurate price feeds. Moreover, according to the report, the partnership will also help boost the strength of the game.

8. Switzerland to Inaugurates Crypto Stamp On Polygon

The Switzerland postal service is planning to launch the world’s first-ever crypto stamps. This initiative will also be built on the Polygon blockchain.

Meanwhile, according to the official announcement, the stamps will be created as digital collectibles backed up by real stamps. The stamps are currently issued by the postal service and cost around 8.9 swiss francs.

9. EnjinStarter Now on Uniswap

EnjinStarter native token, $EJS, is officially listed on Uniswap. Therefore, gamers will now have access to $EJS tokens on Uniswap. Interestingly, $EJS currently has a total supply of USD$4,981,250,000.

10. Polkadex Mainnet is Live

Polkadex has officially launched its mainnet on the Polkadex chain. Now, $PDEX tokens will enjoy cross-chain capacity. In conclusion, this launch will also boost interoperability between Polkadex and the Ethereum blockchain.

I hope you’ve enjoyed the top 10 DeFi Updates of last week.

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