Top Crypto News: 05/08

At the time of press, Bitcoin is trading at $58,951. Meanwhile, the second-largest cryptocurrency, Ethereum, hit a new all-time high of $3,966. Besides this, the meme-based Dogecoin exploded over 90% in the last seven days and, after making a new all-time high, is now trading at $0.657156.

Let’s find out some interesting crypto news for today.

1 – Polygon | Dafi Protocol Partnership to Mitigate Inflation With Lucrative Rewards System

Dafi Protocol partnered with Polygon (previously Matic) to integrate dTokens within their ecosystem. With this coalition, Polygon will utilize Dafi Protocol’s synthetic dTokens to design the dMATIC tokens. Further, these dMATIC tokens will operate to maintain the supply/demand of the Polygon platform. This would help Polygon to utilize Dafi’s reward network for decreasing inflation to maintain the token’s value. Polygon offers an Ethereum scaling framework to create and connect blockchain networks, which will help users to create synthetics dTokens while paying minimal transaction fees in MATIC tokens. Additionally, dMATIC tokens would help to build feasible incentives and an economic model to reward the long-term users, which will impel the token’s utility.

2 – Integrating EVM Blockchain Functionality to Implement Side-Chain Support announced the upgrade of its platform with Ethereum Virtual Machine (EVM) blockchain functionality. As per the statement given to Cointelegraph, the projects built on Ethereum can enjoy’s ecosystem by switching over to its blockchain. Moreover, this transition will take place through EVM, for which the team has allocated a fund for early-stage projects. Further, the team stated that these EVM features will go live on the blockchain on July 14 this year. In addition, these EVM functions will be implemented as side-chain support for its platform. By bringing EVM to Chain, greater versatility will be had with high speeds and low transaction fees. is one of the fastest-growing crypto apps, along with the Visa card, exchange, and DeFi wallet. Meanwhile, this integration will stimulate the exponential growth of the ecosystem.

3 – Harmony Foundation Committing 4 Million ONE Tokens to Stimulate Validator DAO

Harmony Foundation announced it is allocating 4 million ONE tokens to stimulate the Validator DAO. As per the tweet, this Validator DAO will enhance and grow the Harmony network with its robust ecosystem. Further, it will encourage network governance while implementing innovative mechanisms to bolster voting and accountability. This Validator DAO will preach the benefits of running validator nodes and delegating stakes. In addition, this DAO will propel the partnerships and marketing of its community and the larger multi-chain staking ecosystem. Additionally, this would uplift the Pangea Validator Academy and new validators with bootstrap participation.

4 – BlockBank | Umbrella Network Partnership to Enhance Its Mobile Platform

In the last bit of crypto news for today, we have BlockBank partnering with Umbrella Network to enhance its mobile platform. With this partnership, BlockBank’s mobile platform will utilize Umbrella’s secure and reliable price feeds. Umbrella Network is a decentralized Layer 2 oracle platform that offers high-speed and reliable data service to the DeFi market at low costs. BlockBank is a fully licensed crypto bank, which allows users to access DeFi applications and tokens at a low transaction fee. In addition, Umbrella Network will also support other BlockBank functionalities, such as intelligent DeFi tools, AI-augmented investment advisors, and more.

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