At the time of press, Bitcoin is trading at $58,898. Moreover, on April Fools Day, this is one of the best Q1 closings of BTC after a huge pandemic plunge below $4,000. Meanwhile, the second-largest cryptocurrency, Ethereum, is trading close to $1,978.
Let’s find out some interesting crypto news in detail.
Quant partnered with LACChain to explore DLT-based ecosystems in Latin America and the Caribbean. LACChain is a global alliance for the expansion of the blockchain ecosystem. It aims to develop the regional ecosystem and enhance lives by providing financial solutions to private and public sector clients. With this coalition, LACChain technology integrates with Quant’s Overledger technology to design fast and secure cross-border payment systems using tokenized money. Further, this will provide diversified solutions such as money transfers between individuals, governments, and corporate payments. Additionally, users can also make international and local currency transfers securely at an affordable cost.
Fuse Network partnered with e-Money to bridge stablecoins between both networks. The e-Money protocol offers a range of interest-bearing currency-backed stablecoins. These tokens are backed by a reserve of assets designated in their underlying currency. Collaboratively, the team will build a bridge between e-Money and Fuse, which will help users to utilize e-Money’s stablecoins on the Fuse Network. Further, e-Money would get access to Fuse’s payment-centric ecosystem. Fuse will use e-Money assets to back the issuance of Fuse-native stablecoins along with the USDC-backed FuseDollar. Additionally, the team has plans to choose e-Money’s stablecoins to design trading pools on Fuse’s native DEX, FuseSwap, and integrate into future lending and other DeFi protocols.
Injective Protocol collaborated with Razor Network to grow their oracle ecosystem. Moreover, Injective is a Layer 2 decentralized exchange protocol that facilitates the potential of decentralized derivatives and borderless DeFi. Razor provides a decentralized oracle solution and assures that the data transmitted to the blockchain is both reliable and secure. Hence, this amalgamation would improve the security and efficiency of the crypto markets listed on the Injective DEX. Further, this will enhance the trader’s experience and help the Injective DEX to entice more users. Additionally, this will empower RAZOR tokens by bridging onto the Injective DEX and later on to create new derivative products using these tokens.
Leading liquidity and lending protocol Aave collaborated with Polygon (formerly Matic) to scale decentralized finance (DeFi). Aave is an open-source and non-custodial protocol that allows users to unlock liquidity across various assets in a multi-pool approach. This integration will help users to utilize smart contracts for bridging assets on Polygon. Further, users would earn a part of the transaction fees to cover their transaction fees on the Polygon blockchain. Polygon provides a framework for building and joining Ethereum-compatible blockchain networks. Hence, this bridge is much cheaper to use and can be accessible in one click. Additionally, this will bring new kinds of collaterals to the Aave network.
In the last bit of crypto news for today, we have Polkamarkets joining hands with Elrond Network to uplift prediction markets and event resolution data. With this integration, Elrond Network users would utilize Polkamarkets as a curator. Further, this will make Polkamarkets’ decentralized governance system more robust and unlocks many new interoperability verticals. Elrond is designed to enable linear scalability with a fast, efficient, and secure consensus mechanism. Hence, Polkamarkets would use eGLD cross-chain data price feeds and other Elrond assets to notify event resolution. Hence, compiling these features will enhance the prediction markets and attract a larger user base.
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