The decentralized finance (DeFi) space is one of the most sought-after aspects of the blockchain and cryptocurrency sphere.
To keep our readers informed, we have compiled some of last week’s top DeFi updates. These DeFi updates range from strategic partnerships to updates, product launches, etc. Interestingly, at the time of writing, the DeFi space has a market cap of $145,939,810,624 and a 24-hour trading volume of $8,974,245,895.93. tofuNFT’s partnership with Buffer Finance and Fantom’s move to FVM are some of last week’s DeFi updates.
Let’s find out some more top DeFi updates.
1. tofuNFT Partners With Buffer Finance
tofuNFT, the largest NFT marketplace on Binance Smart Chain (BSC), is now in partnership with Buffer Finance. According to the announcement, Buffer Finance’s GameFi collectibles will also now be listed on tofuNft. Therefore, helping to boost awareness and adoption of Buffer Finance.
Notably, Buffer Finance is a gamified on-chain multi-assets trading and prediction market platform.
You can also view Buffer Finance collections here.
— tofuNFT📛 / The largest NFT marketplace on BSC (@tofuNFT) March 28, 2022
2. Label Foundation $LABEL Tokens Now on Bittrex Global
Permissionless NFT P2P incubating platform Label Foundation recently entered into a strategic partnership with Bittrex Global. Thanks to the partnership, Label Foundation’s $LABEL tokens will also be listed on Bittrex Global.
Bittrex Global is also well known as a top crypto trading exchange. Interestingly, depositing $LABEL tokens on Bittrex Global was enabled on March 30, 2022. The supported trading pair is the LBL/USDT trading pair.
Deposit wallets addresses are currently enabled and trading will be enabled 08:00 AM March 30th (KST).
— LABEL Foundation (@LABELFoundation) March 29, 2022
3. Legend of Galaxy | DAOLaunch Partnership
Innovative IDO platform DAOLaunch recently entered into a partnership with the Legend of Galaxy crossroad game. Thanks to the partnership, DAOLaunch will host an IDO event for the Legend of Galaxy game. Also, the game is both a crossroad and card role-playing game.
DAOLaunch, on the other hand, is known for connecting willing investors with startups.
🤝 Legend of Galaxy is thrilled to be a strategic partner with @DAOLaunch
DAOLaunch is an innovative IDO platform that bridges the gap between investors and startups. Through this partnership, DAOLaunch will conduct an IDO for LoG’s $GAE.
🔥 Praise for a powerful collaboration! pic.twitter.com/doxcgaG5hF
— LFW Official (@Legend_LFW) April 2, 2022
4. Flag Network’s $FLAG Tokens Now on SWFT Blockchain
The native token of decentralized blockchain network Flag Network, $FLAG, is now live on the SWFT blockchain platform. The listing took place on March 30, 2022, at 8 pm (UTC+8). The listing will facilitate depositing and withdrawing of FLAG tokens.
Also, interested persons will be able to swap $FLAG with over 300 cryptocurrencies. And also share FLAG with SWFT red packets.
— SWFT Blockchain (@SwftCoin) March 30, 2022
5. SynFutures Close to Its $1 Billion Benchmark
One of Polygon’s biggest derivatives DEX platforms, SynFutures, announced last week that it was close to clocking $1 billion in monthly trade volume. SynFutures is also known for eliminating entry barriers to the fast-rising derivative market.
The network also currently boasts of over 80 trading pairs and an estimated 25,000 unique users.
Read more: https://t.co/ajc3ZJNgZu
Start trading: https://t.co/LAE2WKYxb9
Find out how traders are utilizing Polygon’s scalability & low fees.
— Polygon | $MATIC 💜 (@0xPolygon) April 1, 2022
6. Dune Analytics Launches First Bounties
Last week, Dune Analytics, in partnership with Layer 3 and Aave network, launched its first bounties. Simply put, interested persons can now earn rewards by contributing to the Dune Analytics dashboard. Therefore, giving interested persons the opportunity to contribute to the open data economy.
We're working with some of the top protocols in the space to surface their data on Dune and get Wizards paid – so more coming soon 👀
Check them out on 📈https://t.co/dCLvRPBJpJ
— Dune Analytics (@DuneAnalytics) March 30, 2022
7. bATOM Now on Anchor Protocol
ATOM token holders can now enjoy new DeFi opportunities, thanks to the launch of bATOM tokens on Anchor Protocol. According to the announcement, the integration brings value and opportunities to both the Terra and the Cosmos ecosystems.
It is also the first opportunity to borrow against $ATOM and staked ATOM tokens.
— pSTAKE Finance (@pStakeFinance) March 31, 2022
8. Fantom Blockchain Moves From EVM to FVM
Fantom blockchain recently announced plans for a shift from EVM to becoming a Fantom Virtual Machin (FVM). This upgrade will give the blockchain network the opportunity to operate faster with lesser scalability issues as compared to the Ethereum Virtual Machine (EVM).
While EVM currently sits at the center of the DeFi ecosystem, it, however, still has a number of issues. Some of which include its throughput, transaction time, etc. Fantom Virtual Machine is designed specifically to solve these issues, while still retaining top-notch security.
9. Bloktopia Incorporates a Multichain Approach
Bloktopia has revealed plans to expand beyond Polygon Network. In a recent announcement, the platform disclosed plans to incorporate a multichain approach. This means that the platform and its native token ($BLOK) will go live on other blockchain platforms.
Following the announcement, Bloktopia also announced the launch of its native token ($BLOK) on Binance Chain (BNB). Also, referring to the announcement as part of its “[…] new Multichain strategy.”
⛓️Part of our new Multichain strategy
🪙Access the metaverse on BNB chain and use BNB $BLOK token
🚀Token launch will compliment the existing $BLOK tokens
— Bloktopia (@bloktopia) March 30, 2022
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