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.
👉@Okcoin is a globally available cryptocurrency exchange, headquartered in San Francisco, California.
— Terra Daily 🌖 (@TerraLUNADaily) March 10, 2022
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.
Our beta is live on @0xPolygon!
It only costs ~$0.12 to open a position👀
— Fodl Finance (@FODLfi) March 12, 2022
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.
💫🔥 Alongside their major media partners, they plan to release a series of #Bollywood NFTs!
— Polygon Studios (@polygonstudios) March 10, 2022
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.
#Chainlink Price Feeds enable dApps to reference high-quality market data that remains accurate even during adverse market conditions.
— Chainlink (@chainlink) March 13, 2022
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.”
Poloniex will pour more resources to boost the ecosystem development of Fantom.
— Poloniex Exchange (@Poloniex) March 11, 2022
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.
You can find more details here: https://t.co/UctLO4z9FV
More details soon👀 pic.twitter.com/ag0wc9HvKH
— 😱 (@Screamdotsh) March 13, 2022
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.
#Chainlink VRF v2 is live on @BNBCHAIN mainnet.#BNBChain developers can now use the new & improved version of Chainlink's industry-leading RNG to bring highly secure, configurable, & cost-efficient randomness to their dApps.
Explore the integration👇https://t.co/2nK4rBulSA
— Chainlink (@chainlink) March 10, 2022
10. Crypto.com 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, Crypto.com has announced plans to support Theta throughout the hard fork process.
— Crypto.com (@cryptocom) March 11, 2022
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