The decentralized finance (DeFi) ecosystem stands as one of the most sought-after spheres in the blockchain and cryptocurrency space.
To keep our readers informed, we have compiled some of last week’s top DeFi updates. These DeFi updates include strategic partnerships, mainnet launches, events, upgrades, etc. Siren protocol partnership with Chainlink and Celer IM mainnet launch are some of these top DeFi updates.
Also, at the time of writing this article, the entire DeFi ecosystem currently boasts of a $109,573,683,109 market cap, and a 24-hour trading volume of $5,378,070,532.
Let’s find out some more top DeFi updates from last week.
1. Wanchain And Cardano Interoperability Solutions
Last week, Wanchain introduces an exciting new interoperability solution for Cardano (ADA). Interestingly, the interoperability solution will function not just for Cardano but for its sidechain and other blockchain platforms.
Wanchain also launches several cross-chain bridges to serve as an L-1 EVM-compatible sidechain bridge to Cardano.
#Wanchain and Cardano’s @InputOutputHK are collaborating on enabling interoperability between the @Cardano mainnet, sidechains, and other blockchains.#Wanchain will deploy crosschain bridges and serve as an #EVM sidechain to Cardano.
More to come.https://t.co/3D0kH7eKNw
— Wanchain (@wanchain_org) April 27, 2022
2. Orion Protocol Swap Widget Launch
Top decentralized crypto gateway platform Orion Protocol has a new update. The crypto gateway platform’s much-anticipated Swap Widget is finally online. The widget provides Orion users with a top-notch user interface. Therefore facilitating ease of use on the crypto gateway platform. Users will also enjoy;
- easier access to the protocol,
- deep-sated aggregated liquidity across both CEXs and DEXs
- Low fees (approximately between 0.2% to 0.3%), etc.
Interestingly, the swap widget will be available across chains like Ethereum and Binance. Also, plans are in place to include the Fantom chain soon.
Orion Protocol launches Orion Swap Widget🔥
Deep liquidity via Orion on your website in less than 15 mins with #OrionSwapWidget.
— Orion Protocol (@orion_protocol) April 28, 2022
3. tofuNFT | DefVerse Partnership
Yet another strategic partnership with tofuNFT. This time around, top NFT gaming platform DefVerse is the newest tofuNFT partner. Now interested gamers on DefVerse can seamlessly trade their NFTs on the tofuNFT platform. This provides them with a secure and reliable way to trade their NFTs for funds.
tofuNFT is also popularly known as the world’s largest multichain NFT marketplace. DefVerse, on the other hand, is a play-to-earn (P2E) game with NFTs.
You can trade their Items #NFT on tofuNFT soon.
— tofuNFT📛The largest multichain NFT marketplace (@tofuNFT) April 27, 2022
4. Simplex Adds Support for Terra USD (UST)
Crypto trading platform Simplex adds support for Terra USD (UST) stablecoin. This is a great win for TerraUSD (UST) as it will create more use cases for the decentralized stablecoin. This, in turn, will also help create much-needed awareness and adoption of the decentralized stablecoin.
Thanks to the partnership, interested persons can also now easily purchase $UST stablecoin tokens. Interestingly, the purchase can be carried out with a debit or credit card, Bank transfer, and Apple Pay.
— Simplex (@SimplexCC) April 29, 2022
5. Bend DAO Strategic Partnership With MatrixPort
Peer-to-peer NFT liquidity protocol Bend DAO is now in partnership with MatrixPort. According to the announcement, the partnership will help provide more ETH liquidity for NFT loans. This in turn will help facilitate the development of the fast-growing NFT ecosystem. Furthermore, helping to provide more use cases for NFTs and bluechip NFTs.
Also, currently supported NFTs include CryptoPunks, BAYC, MAYC, CloneX, Doodles, etc. Notably, these NFTs can be used as collateral to obtain loans.
Bend DAO Partners with Matrixport to Provide More ETH Liquidity for Instant NFT-backed Loans
The partnership will explore the combination of DeFi and NFT offering higher yields for DeFi, as well as driving liquidity to bluechip NFTs. @realMatrixport @BendDAO #DeFi #NFT pic.twitter.com/Bw7w7t5Aug
— BendDAO.eth (@BendDAO) April 28, 2022
6. Siren Protocol Partners With Chainlink
Siren Protocol, also popularly described as the future of DeFi options trading has enlisted the support of Chainlink keepers. Chainlink Keepers will facilitate the seamless execution of Siren Protocol’s DeFi options. Also, its price feeds will provide Siren with top-notch, reliable, and secure price data.
Prior to its integration of Chainlink Keepers, Siren made use of several off-chain alternatives. These alternatives, however, restricted the decentralization of the Siren protocol. Hence, its integration with Chainlink keepers.
.@sirenprotocol has integrated #Chainlink Keepers to help reliably execute its #DeFi options at expiry, and Price Feeds to supply it with secure price data for options settlement. https://t.co/HexpCj1JUu
— Chainlink (@chainlink) April 27, 2022
7. Celer Network Inter-chain Messaging Platform Mainnet Launch
Last week, Celer network Inter-chain Messaging (IM) platform officially went live on the mainnet. The mainnet launch stands as the best inter-blockchain and cross-layer communication platform currently available today.
The mainnet will also completely revolutionize how cross-chain decentralized applications (dapps) are designed and used.
🚀Celer Inter-chain Messaging Framework launches on mainnet today, revolutionizing how cross-chain dApps are built and used!
🤩With 9 amazing launch partners forging a new era of cross-chain DeFi, governance, gaming, NFTs and more!
🤯Use Celer IM now!https://t.co/MskZctfw60
— CelerNetwork (@CelerNetwork) April 26, 2022
8. tofuNFT Partnership With Port3 Network
tofuNFT is also now in partnership with Web 3 social gateway platform Port3 Network. The partnership will also provide Port3 with a secure marketplace for its Badge NFT Core. It will also provide an analytics dashboard, DAO tools, etc.
🎉We are excited to announce an official partnership with @Port3Network, the gateway to Web3 social graph.
They will provide DAO tools, analytics dashboard, community marketing push and more.
— tofuNFT📛The largest multichain NFT marketplace (@tofuNFT) April 27, 2022
9. Crypto Nezo Becomes Orion Swap Widget Partner
Orion Protocol swap widget recently went live. Following the launch, Crypto Nezo is now the first Orion Swap widget partner. Crypto Nezo is a cryptocurrency news platform arm of Nezo global.
Becoming the first official partner of Orion Swap will provide the news platform will;
- Facilitate global access to both CEXs and DEXs
- Also, facilitate easy installation of the swap widget (less than 15 mins)
- Nezo users will also enjoy seamless access to Orion Protocol deep liquidity.
✅ Orion liquidity on #CryptoNezo
✅ Swap Widget install: less than 15mins
✅ Global access to CEXs, DEXs
✅ User's own wallet
— Orion Protocol (@orion_protocol) April 29, 2022
10. Ultiverse DAO Partnership With Celer Network
Celer Network is now in partnership with Ultiverse DAO. The partnership will provide support for cross-chain NFTs. Therefore, making it possible for NFTs to be traded across multiple chains. For now, the partnership will make Ultiverse NFTs transferable on both Binance (BNB) and Ethereum (ETH) chains. Plans are in place to add more chains in the near future.
Ultiverse DAO is also the creator of 0xElectric sheep NFTs.
🥳We are happy to announce our partnership with @UltiverseDAO to support cross-chain NFTs!
— CelerNetwork (@CelerNetwork) April 28, 2022
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