DeFi Updates | Fodl Finance Now on Polygon | March Week 2

Lots of strategic DeFi updates took place last week. DeFi updates like strategic partnerships, events, product launches, token listings, etc.

To keep our readers informed, we have compiled some of these top DeFi updates. Chainlink price feeds now on dYdX and the Beefy Finance liquid staking launch for Fantom (FTM) are some of these top DeFi updates. Also, the decentralized finance (DeFi) space has continued to grow exponentially and currently has a market cap of $113,216,779,677.

Let’s find out some more DeFi updates of last week.

1. Okcoin Lists Terra USD (UST)

San Francisco-based cryptocurrency exchange Okcoin has announced the listing of the Terra USD (UST) stablecoin. Therefore, this means that interested persons can now buy, sell, and trade UST on Okcoin. Also, Terra USD (UST) is the algorithmic stablecoin for the Terra (LUNA) ecosystem.

2. Celo to Launch Uniswap V3

Uniswap v3 is launching on Celo Foundation’s native blockchain. To achieve this, the Celo community also introduced a proposal to launch the protocol on Celo. Also, once the proposal is passed, Uniswap v3 will be open to the world’s estimated six billion mobile phone users.

In line with the proposed launch, the foundation will also set aside $10 million $CELO tokens as incentives and grants. The foundation will also direct these grants towards Uniswap users.

3. Fodl Finance on Polygon

Fodl Finance beta protocol goes live on Polygon (MATIC). Also, this means that interested persons can now buy and sell tokens like $WMATIC, $WBTC, $USDC, $DAI, $WETH, and $USDT.

Fodl Finance is also known for its decentralized leverage trading and zero funding rates.

4. Polygon Studios Partners With Diginoor

Polygon Studios, the gaming and NFT arm of Polygon, is now in partnership with Diginoor. Alongside the partnership, Diginoor also raised $1 million in a recent seed funding round. Diginoor is also interested in launching Bollywood-based NFTs in India.

5. Chainlink Price Feeds Now on dYdX

dYdX has announced a partnership with the renowned oracle platform Chainlink. Now, Chainlink’s reliable price feeds will help build dYdX DeFi markets. Therefore, providing them with accurate, high-quality market data.

6. Fantom Partners With Poloniex

Fantom recently partnered with top cryptocurrency exchange Poloniex. The partnership will also help facilitate the growth and development of the Fantom ecosystem. Notably, Poloniex will have to provide Fantom with technical assistance, listing support, campaigns, etc.

Speaking on the announcement, Shaun Scovil, General Manager of Poloniex, disclosed that the entire Poloniex ecosystem is “[…] very honored to team up with Fantom.”

7. Beefy Finance Launches Liquid Staking for FTM

Earn more on your Fantom $FTM tokens with Beefy Finance. To do this, you need to deposit your FTM tokens in the Beefy delegator vault. Also, the project is locking the tokens for about 12 months to enjoy the maximum APR possible.

Also, stakers will in turn receive Beefy Escrowed Fantom (beFTM) tokens. Interestingly, beFTM is also backed 1:1 with FTM tokens.

8. Huobi Global Set to List $SCREAM

Top crypto exchange Huobi Global is set to support Fantom’s Scream and SpookySwap (BOO) DeFi protocols. In line with this, SCREAM and BOO tokens will also launch on the Huobi Pioneer zone. Therefore, giving interested persons the opportunity to buy, sell, or trade $SCREAM on Huobi.

9. Chainlink VRF on BNB Mainnet

Chainlink VRF v2 will now be made available on the Binance Chain (BNB) mainnet. This means that BNB chain will also have access to the Chainlink VRF newly improved version. Therefore, providing developers on its chain with access to top-notch, secure, accurate, and affordable verifiable randomness for their dApps.

10. to Support Theta Network Upgrade

Decentralized video streaming protocol Theta plans on carrying out a network upgrade and hard fork. Also, to facilitate the smooth transition, has announced plans to support Theta throughout the hard fork process.

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